Meemic Foundation For The Future Of Education
- Assets
- $4.4m
- Revenue
- $500.7k
- Investments
- $4.2m
- Employees
- 0
- Location
- Auburn Hills, MI
- Founding
- 11/1992
- Data as of
- 12/2023
- EIN
- 38-3048526
Organization Overview
Meemic Foundation For The Future Of Education is located in Auburn Hills, MI. The organization was established in 1992. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meemic Foundation For The Future Of Education is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Meemic Foundation For The Future Of Education generated $500.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $433.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Mccafferty Chair & CEO | 0.2 | $0 | |
Sean Maloney Treas & CFO | 0.2 | $0 | |
John Bruno Vice Pres | 0.2 | $0 | |
Marcia L Hannewald Asst Sec | 0.2 | $0 | |
Pam Harlin Fdn Mgr | 0.2 | $0 | |
Gene J Boehm Member | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $417,781 |
| Interest on Savings | $0 |
| Dividends & Interest | $76,464 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$16,451 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $1,724 |
| Profit on Inventory Sales | $0 |
| Other Income | $22,891 |
| Total Revenue | $500,685 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,915 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $20,809 |
| Total operating and administrative expenses | $67,306 |
| Contributions, gifts, grants paid | $365,872 |
| Total expenses and disbursements | $433,178 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,008 |
| Savings and temporary cash investments | $102,814 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,897 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $9,379 |
| Total assets | $4,365,797 |
| Accounts payable and accrued expenses | $12,161 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $25,906 |
| Total liabilities | $38,067 |