2024-09-03T09:38:31-05:00 2023-12-31 382029668 GJC CPA'S & ADVISORS 1001 WOODWARD AVENUE SUITE 850 DETROIT MI 482261904 990 2023-01-01 273157523 MICHIGAN ISRAEL BUSINESS ACCELERATOR FOUNDATION MICH 2483034618 407 EAST FORT STREET 205 DETROIT MI 482262958 SCOTT HIIPAKKA CHIEF EXECUTIVE OFFICER 2483034618 2024-09-03 1 1 MICHAEL R NICHOLAS P00966144 3139652655 2023 2024-08-08 14:25:15Z SCOTT HIIPAKKA 407 EAST FORT STREET 205 DETROIT MI 482262958 436796 0 X WWW.MICHIGANISRAEL.COM X 2010 MI THE MICHIGAN ISRAEL BUSINESS ACCELERATOR FOUNDATION ("MIBAF") IS A NON-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ESTABLISHED TO PROMOTE COMMERCE AND INDUSTRY BETWEEN ISRAEL AND MICHIGAN. SINCE ESTABLISHMENT, MIBAF HAS WORKED TO ATTRACT HIGH-GROWTH ISRAELI TECHNOLOGY COMPANIES FROM ISRAEL TO PURSUE BUSINESS EXPANSION OPPORTUNITIES IN MICHIGAN, AS WELL AS TO EDUCATE AND ATTRACT MICHIGAN HIGH-GROWTH TECHNOLOGY COMPANIES TO PURSUE BUSINESS IN ISRAEL. 17 17 0 0 0 0 403260 232692 131123 186291 761 17813 21457 0 556601 436796 0 0 0 0 0 0 0 0 15438 405973 514597 405973 514597 150628 -77801 1350588 1466701 300537 494451 1050051 972250 MIBAF HAS ADOPTED A MISSION TO ADVANCE MICHIGAN'S INNOVATION ECOSYSTEM, ONE ISRAELI CONNECTION AT A TIME. 0 0 447699 186291 DURING 2023, MIBAF AND ITS AFFILIATED ORGANIZATION, THE MICHIGAN ISRAEL BUSINESS ACCELERATOR ("MIBA"), SUPPORTED OVER 400 COMPANIES, FOSTERING 287 CONNECTS, 1,215 CONNECTIONS, AND 21 SUCCESSFUL COLLABORATIONS. MIBAF AND MIBA CONTINUED ADVANCING WORKING RELATIONSHIPS WITH ECONOMIC DEVELOPMENT ENTITIES ACROSS THE STATE OF MICHIGAN AND IN ISRAEL THROUGH BUSINESS CONNECTIONS, TRADE MISSIONS, AND MULTIPLE VIRTUAL AND IN-PERSON COMMUNITY ENGAGEMENT EVENTS DESIGNED TO PROMOTE A BETTER UNDERSTANDING OF THE BUSINESS OPPORTUNITIES BETWEEN MICHIGAN AND ISRAEL. 447699 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 MI X SCOTT HIIPAKKA 2483034618 407 EAST FORT STREET SUITE 205 DETROIT MI 482262958 MATT ELLIOT CHAIR 1.00 1.00 X X 0 0 0 JAMES MEEKS TREASURER 1.00 1.00 X X 0 0 0 REGINE BEAUBOEUF SECRETARY 1.00 1.00 X X 0 0 0 GAHL BERKOOZ DIRECTOR 1.00 1.00 X 0 0 0 MARC BLECKMAN DIRECTOR 1.00 1.00 X 0 0 0 BETH CHAPPELL DIRECTOR 1.00 1.00 X 0 0 0 BRAD COMMENT DIRECTOR 1.00 1.00 X 0 0 0 MARK DAVIDOFF DIRECTOR 2.50 2.50 X 0 0 0 MIKE DERGIS DIRECTOR 1.50 1.50 X 0 0 0 BETH GOTTHELF DIRECTOR 1.00 1.00 X 0 0 0 QUENTIN L MESSER JR DIRECTOR 1.00 1.00 X 0 0 0 LISA PRASAD DIRECTOR 1.00 1.00 X 0 0 0 JUSTIN ROBINSON DIRECTOR 1.00 1.00 X 0 0 0 ALYSSA TRACEY DIRECTOR 1.00 1.00 X 0 0 0 HOWARD UNGERLEIDER DIRECTOR 1.00 1.00 X 0 0 0 EVAN WEINER DIRECTOR 1.00 1.00 X 0 0 0 LAWRENCE WOLFE DIRECTOR 1.00 1.00 X 0 0 0 SCOTT HIIPAKKA CHIEF EXECUTIVE OFFICER 20.00 20.00 X 0 117341 0 0 117341 0 0 0 0 0 0 1000 231692 232692 PROGRAM INCOME 900099 186291 186291 186291 17813 17813 436796 186291 0 17813 510978 444551 51098 15329 3619 3148 362 109 514597 447699 51460 15438 1255254 173082 1239972 95334 53647 1350588 1466701 791 49500 34200 250246 460251 300537 494451 X 960051 899789 90000 72461 1050051 972250 1350588 1466701 -77801 0 X 0 1 X 0 0 X 395205 1049680 312344 403260 232692 2393181 395205 1049680 312344 403260 232692 2393181 1773715 619466 11 699 380 761 17813 19664 2412845 372546 0.25670 0.26940 X SINCE ESTABLISHMENT IN 2007, MIBAF AND MIBA HAVE CONTINUED TO ADVANCE MICHIGAN'S INNOVATIVE ECOSYSTEM THROUGH ISRAELI CONNECTIONS. WITH STAFF BASED IN MICHIGAN AND ISRAEL, AND A GOVERNING BOARD OF DIRECTORS THAT INCLUDES C-LEVEL EXECUTIVES, BUSINESS PROFESSIONALS, AND COMMUNITY LEADERS, MIBAF AND MIBA CONTINUE TO ESTABLISH RELEVANCY IN THE MICHIGAN-ISRAELI ECOSYSTEM. MIBAF AND MIBA ACCOMPLISH THIS THROUGH HOSTING INBOUND AND OUTBOUND DELEGATIONS TO AND FROM ISRAEL, NETWORKING EVENTS, THE STARTUPMICHIGAN.COM PLATFORM, AND BY PROVIDING EDUCATIONAL CONSULTING SERVICES FOR THE PUBLIC GOOD.ADDITIONALLY, MIBAF AND MIBA CONTINUE REINFORCING THEIR WORKING RELATIONSHIPS THROUGHOUT MICHIGAN AND ISRAEL, INCLUDING PARTNERSHIPS WITH MULTIPLE ORGANIZATIONS THAT IMPACT THE ECONOMIC DEVELOPMENT AND GROWTH ECOSYSTEM: ENTREPRENEURS, INCUBATORS AND HUBS, INVESTORS, TEACHING INSTITUTIONS AND HIGHER EDUCATION PARTNERS, ECONOMIC DEVELOPMENT AGENCIES AT THE CITY, COUNTY, REGIONAL, AND STATE LEVELS, AND CORPORATE PARTNERS. EACH OF THESE ORGANIZATIONS PLAYS A ROLE IN SUPPORTING MICHIGAN'S ECONOMIC GROWTH AND PROSPERITY AND IS A PARTNER TO MIBAF AND MIBA.THROUGH THE SUPPORT OF ITS CURRENT FUNDERS AND DONORS, MIBAF HAS SUCCESSFULLY MAINTAINED A PUBLIC SUPPORT PERCENTAGE OF OVER 10 PERCENT AND HAS IMPACTED OVER 2,000 COMPANIES AND BUSINESS PROFESSIONALS. HOWEVER, TO FURTHER ESTABLISH LONG-TERM SUCCESS FOR THE ORGANIZATIONS, MIBAF AND MIBA FINALIZED A FIVE-YEAR STRATEGIC PLAN IN 2019, WHICH INCLUDES CULTIVATING ALTERNATIVE REVENUE AND FUNDING SOURCES, INCLUDING, BUT NOT LIMITED TO, SOLE PHILANTHROPIC SUPPORT. THIS REVENUE DIVERSIFICATION PLAN INCLUDES ACHIEVING FINANCIAL PROJECTIONS THROUGH MEMBERSHIPS AND CORPORATE PARTNERSHIPS OF $87,000 TO $175,000 IN 2022, $100,000 TO $200,000 IN 2023, AND $112,000 TO $225,000 IN 2024.IN JANUARY 2020, MIBAF RELAUNCHED ITS MEMBERSHIP PROGRAM WITH NEW INCENTIVES AND A REVISED RECRUITMENT AND CORPORATE PARTNERSHIP STRATEGY AIMED TO BETTER SERVE AND EXPAND THE MIBA ECOSYSTEM OF PARTNERS. THROUGH CONTINUED FUNDRAISING EFFORTS, INCLUDING IN-PERSON AND VIRTUAL NETWORKING EVENTS, INBOUND AND OUTBOUND DELEGATIONS, AND OUTREACH TO LOCAL, REGIONAL, AND NATIONAL CORPORATE PARTNERS, BY 2025, MIBAF EXPECTS TO ACHIEVE INCREASED PUBLIC FINANCIAL SUPPORT THROUGH PUBLIC-PRIVATE PARTNERSHIPS AND MEMBERSHIPS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 PAYABLE TO MICHIGAN ISRAEL BUSINESS ACCELERATOR 460251 460251 X 436796 0 436796 0 436796 514597 0 514597 0 514597 PART X, LINE 2: THE ORGANIZATIONS' [MIBAF AND MIBA] MANAGEMENT IS NOT AWARE OF ANY UNCERTAIN TAX POSITIONS OR UNRECOGNIZED TAX BENEFITS AS OF DECEMBER 31, 2023. FORM 990, PART VI, SECTION B, LINE 11B THE CHAIR AND THE CHIEF EXECUTIVE OFFICER REVIEW A DRAFT COPY OF FORM 990, AND A COPY OF THE DRAFT FORM 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL BOARD AND STAFF MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT DISCLOSING ANY ASSOCIATED OR FINANCIAL ASSOCIATIONS OF CONFLICTS. NO BOARD MEMBER, COMMITTEE MEMBER, OR STAFF SHALL USE HIS OR HER POSITION, OR KNOWLEDGE GAINED THEREIN, IN SUCH A MANNER THAT A CONFLICT BETWEEN THE INTEREST OF THE ORGANIZATION OR ANY OF ITS AFFILIATES AND HIS OR HER PERSONAL INTEREST ARISES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. MICHIGAN ISRAEL BUSINESS ACCELERATOR 407 EAST FORT STREET SUITE 205 DETROIT MI 482262958 261530156 ECONOMIC DEVELOPMENT MI 501(C)(6) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 MICHIGAN ISRAEL BUSINESS ACCELERATOR O 135409 FAIR VALUE MICHIGAN ISRAEL BUSINESS ACCELERATOR N 375569 FAIR VALUE