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EIN 33-1068719

Michigan Community Capital

IRS 501(c) type
501(c)(3)
Num. employees
25
City
Lansing
State
Michigan
Year formed
2003
Most recent tax filings
2023-12-01
NTEE code, primary
S30: Economic Development
Description
Michigan Community Capital facilitates and manages investments in affordable housing and other non-nmtc community development projects, with a mission to provide low-cost, flexible financial products coupled with advisory services to create and preserve affordable housing and invest in job-creating, community-driven economic development projects for the benefit of low-income communities across the state. Additionally, they offer programs that include providing support and advisory services to other community development organizations.
Also known as...
Michigan Magnet Fund
Total revenues
$6,661,371
2023
Total expenses
$7,243,751
2023
Total assets
$66,808,969
2023
Num. employees
25
2023

Program areas at Michigan Community Capital

Facilitating and managing all nmtc investments
Providing support and advisory services to other Community development organizations
Facilitating and managing investments in affordable housing and other non-nmtc Community development projects

Who funds Michigan Community Capital

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Uptown Reinvestment CorporationTo Promote Economic Growth, Employment and Development in the Downtown Flint Business District.$1,180,000
Sturgis Area Community Foundation$500,000

Personnel at Michigan Community Capital

NameTitleCompensation
Elissa SangalliPresident and Chief Executive Officer , Board Member$0
Eric HannaPresident and Chief Executive Officer$225,426
Karl DorshimerPresident and Chief Executive Officer , Board Member$0
Stephanie OsterlandChief Executive Officer , Board Member
Adrianne JenkinsChief Financial Officer and Chief Operating Officer$184,864
...and 16 more key personnel

Financials for Michigan Community Capital

RevenuesFYE 12/2023
Total grants, contributions, etc.$1,442,476
Program services$4,368,761
Investment income and dividends$382,158
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$136,765
Net gain from sale of non-inventory assets$-201,412
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$532,623
Total revenues$6,661,371

Form 990s for Michigan Community Capital

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-12990View PDF
2022-122023-11-13990View PDF
2021-122022-11-07990View PDF
2020-122021-11-15990View PDF
2019-122021-02-24990View PDF
...and 10 more Form 990s

Organizations like Michigan Community Capital

OrganizationLocationRevenue
Initiative FoundationLittle Falls, MN$10,031,903
Community Loan Fund of the Capital RegionAlbany, NY$2,816,861
South Carolina Community Loan FundCharleston, SC$6,646,393
City First EnterprisesWashington, DC$21,464,449
First Southwest Community FundAlamosa, CO$3,246,368
Opportunity Finance Network (OFN)Philadelphia, PA$24,971,319
Invest AppalachiaAsheville, NC$1,917,636
Bluehub Loan FundBoston, MA$22,068,331
I2eOklahoma City, OK$6,662,200
Washington Area Community Investment FundWashington, DC$7,616,507
Data update history
October 22, 2024
Updated personnel
Identified 10 new personnel
May 19, 2024
Received grants
Identified 1 new grant, including a grant for $500,000 from Sturgis Area Community Foundation
January 3, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 2, 2024
Updated personnel
Identified 2 new personnel
December 25, 2023
Used new vendors
Identified 3 new vendors, including , , and
Nonprofit Types
Business and community development organizationsHeadquarter / parent organizationsCharities
Issues
Community improvementEconomic development
Characteristics
State / local levelReceives government fundingTax deductible donationsAccepts online donations
General information
Address
502 E Cesar E Chavez Ave Suite A
Lansing, MI 48906
Metro area
Lansing-East Lansing, MI
County
Ingham County, MI
Website URL
michigancommunitycapital.org/ 
Phone
(517) 334-0545
IRS details
EIN
33-1068719
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2003
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S30: Economic Development
NAICS code, primary
522120: Savings Institutions
Parent/child status
Central organization
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