2026-03-18T11:10:10-05:00 2025-09-30 390859910 BAKER TILLY ADVISORY GROUP LP 1000 TOWN CENTER STE 2700 SOUTHFIELD MI 48075 990 2024-10-01 382689979 THE MICHIGAN WOMEN'S FOUNDATION MICH 3139621920 1155 BREWERY PARK BLVD 260 DETROIT MI 48207 CAROLYN CASSIN PRESIDENT & CEO 3139621920 2026-03-13 1 1 SHELBY NETZ P01405265 2483727300 2026-03-13 2024 2025-03-06 01:10:19Z MICHIGAN WOMEN FORWARD MWF CAROLYN CASSIN 1155 BREWERY PARK BLVD 260 DETROIT MI 48207 5966642 0 X WWW.MIWF.ORG X 1986 MI MWF IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION WHOSE MISSION IS TO EXPAND ECONOMIC OPPORTUNITY FOR WOMEN AND ENTREPRENEURS OF COLOR BY PROVIDING ACCESS TO CAPITAL AND BUSINESS RESOURCES. MWF CELEBRATES OUTSTANDING MICHIGAN WOMEN BY HONORING THEIR LEADERSHIP CONTRIBUTIONS TO THE COMMUNITY, ECONOMY, AND OUR STATE. MWF'S VISION IS TO CREATE AN INCLUSIVE ECONOMY FOR THE STATE OF MICHIGAN WHERE WOMEN AND PEOPLE OF COLOR CAN CREATE VIABLE BUSINESSES THAT BUILD LONG-TERM SUSTAINABLE WEALTH. 19 18 24 260 0 0 3521406 3681468 365176 357354 86450 157901 254663 248421 4227695 4445144 181718 200925 0 0 1724930 1929944 0 0 515020 1102038 2291186 3008686 4422055 1219009 23089 12225143 13830613 8581137 8537887 3644006 5292726 X MWF IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION WHOSE MISSION IS TO EXPAND ECONOMIC OPPORTUNITY FOR WOMEN AND ENTREPRENEURS OF COLOR BY PROVIDING ACCESS TO CAPITAL AND BUSINESS RESOURCES. MWF CELEBRATES OUTSTANDING WOMEN BY HONORING THEIR LEADERSHIP CONTRIBUTIONS TO THE COMMUNITY, ECONOMY, AND OUR STATE. 0 0 3389697 200925 357354 ENTREPRENEURSHIP - INCLUDES PITCH COMPETITIONS, LENDING, PRE- AND POST- LENDING TRAINING, COACHING AND FACILITATION. THE NON-LENDING ACTIVITIES OF ENTREPRENEURSHIP ARE DESIGNED TO INTRODUCE THE BASICS OF STARTING AND BUILDING A BUSINESS. LENDING IS A FINANCING PROGRAM AVAILABLE TO ENTREPRENEURS AND SMALL BUSINESS OWNERS FOR UP TO $50,000. AS A CDFI, MWF TARGETS LOW TO MODERATE INCOME INDIVIDUALS, AFRICAN AMERICAN ENTREPRENEURS AND BUSINESS OWNERS WHO CONDUCT BUSINESS IN QUALIFYING INVESTMENT AREAS IN MICHIGAN AS DEFINED BY THE CDFI. 66557 ALL OTHER PROGRAMS - THIS PROGRAM IS MADE UP OF VARIOUS SMALL OTHER PROGRAMS THE ORGANIZATION CONDUCTS SUCH AS SHOWCASING THE NAMES AND STORIES OF WOMEN WHO HELPED SHAPED THE HISTORY OF MICHIGAN. 3456254 1 1 0 0 0 0 0 0 0 1 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 311 0 1 24 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MI X CAROLYN CASSIN 3139621920 1155 BREWERY PARK BLVD 260 DETROIT MI 48207 CAROLYN CASSIN PRESIDENT & CEO 40.00 X X 288198 0 10476 KELLY SPRINGER CHAIR 3.00 X X 0 0 0 REGINE BEAUBOEUF IMMEDIATE PAST CHAIR 1.00 X X 0 0 0 TERESA BINGMAN VICE CHAIR 1.00 X X 0 0 0 DAWN TYLKOWSKI SECRETARY 1.00 X X 0 0 0 TONYA WELLS TREASURER 1.00 X X 0 0 0 ALYSE MARTINELLI TRUSTEE 1.00 X 0 0 0 DENISE QUARLES TRUSTEE 1.00 X 0 0 0 ELEANOR WALKER TRUSTEE 1.00 X 0 0 0 INDERPAL DEOL TRUSTEE 1.00 X 0 0 0 JESSICA HAYES-STALLINGS TRUSTEE 1.00 X 0 0 0 JULIE HEGEDUS TRUSTEE 1.00 X 0 0 0 JULIE HOLLINSHEAD TRUSTEE 1.00 X 0 0 0 KERRI MILLER TRUSTEE 1.00 X 0 0 0 KIM KERSTEN TRUSTEE 1.00 X 0 0 0 KIMLE NAILER TRUSTEE (TERM 02/2025) 1.00 X 0 0 0 NANCY MOODY TRUSTEE 1.00 X 0 0 0 REBECCA GUERRIERO TRUSTEE 1.00 X 0 0 0 SARAH EARLEY TRUSTEE 1.00 X 0 0 0 STEPHANIE NAITO TRUSTEE (TERM 01/2025) 1.00 X 0 0 0 TIFFANY ALBERT TRUSTEE 1.00 X 0 0 0 ALLYSON BOYLE CHIEF FINANCIAL OFFICER 40.00 X 209544 0 14706 497742 0 25182 2 0 1 0 LIFELINE GLOBAL CONSULTING 2200 HUNT ST DETROIT MI 48207 IGNITE PROGRAM ADMIN SERVICES 372312 THE OWNERSHIP INITIATIVE 19365 SANTA BARBARA DRIVE DETROIT MI 48221 DESIGN & FORMATION OF IGNITE PROGRAM 200000 2 60250 1100114 2521104 3681468 MICROLOAN INTEREST 522291 271482 271482 MICROLOAN FEES 522291 53302 53302 LOAN RECOVERY REVENUE 522291 32570 32570 357354 105666 105666 1437974 1385739 52235 52235 52235 377320 60250 135759 241561 241561 OTHER INCOME 900099 6860 6860 6860 4445144 357354 0 406322 X 200925 200925 522924 233753 230034 59137 1168502 899503 268999 16273 10903 2213 3157 102246 68505 13905 19836 119999 80399 16320 23280 80691 56838 14057 9796 125928 92557 13474 19897 15664 15664 704599 664710 23507 16382 48356 27213 13130 8013 25352 16769 3538 5045 101591 68066 13816 19709 31020 7690 21947 1383 13928 3453 9854 621 103565 74704 28816 45 679 679 49868 36653 5336 7879 BAD DEBTS 654057 647928 6129 PROGRAM/EVENT EXPENSES 259012 258762 250 FUNDRAISING OVERHEAD EX 32270 32270 MISCELLANEOUS 24614 2362 8818 13434 19992 3882 16102 8 4422055 3456254 450781 515020 5657732 6854698 1707287 2112244 62272 345963 445 7080 56233 30419 74205 73276 1608 929 1167889 1228840 3301248 3047987 270429 202453 12225143 13830613 266215 330948 2609060 2462885 569829 516224 4865604 5025377 270429 202453 8581137 8537887 X 1534752 2121941 2109254 3170785 3644006 5292726 12225143 13830613 23089 49863 1575768 0 X X 0 1 X 1 1 1 X 3058668 2080586 3174154 3521406 3473830 15308644 3058668 2080586 3174154 3521406 3473830 15308644 5648035 9660609 25251 12592 56493 75142 105666 275144 164463 5281 3920 3590 6860 184114 15767902 3104704 0.61270 0.65380 X SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS: DESCRIPTION: BEQUEST GRANT DATE: 03/05/25 AMOUNT: 207638. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1084603 31268 109704 56437 1169138 898500 26754 217086 57737 1084603 838598 24332 92307 56737 898500 1066462 20838 -194139 54563 838598 928590 18936 169966 51030 1066462 0.00000 0.64000 0.36000 0 0 74205 73276 929 929 PROGRAM-RELATED RECEIVABLES 3047987 C 3047987 OPERATING LEASE LIABILITY 202453 202453 X 4479391 49863 32318 82181 4397210 15664 32270 47934 4445144 4406439 32318 32318 4374121 15664 32270 47934 4422055 PART X, LINE 2: THE INTERNAL REVENUE SERVICE ("IRS") HAS DETERMINED THAT THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION IS ALSO EXEMPT FROM STATE INCOME TAXES. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF SEPTEMBER 30, 2025 AND 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 32,270. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 32,270. PART V, LINE 1E, COLUMN (B) THE EXPENDITURE AMOUNT HAS BEEN ADJUSTED BY $453 TO REFLECT THE RESTATEMENT OF THE FINANCIAL STATEMENTS. WUAC EVENT- SEMI 177175 24570 152605 15265 29199 5046 4029 WUAC EVENT - WM 174370 20050 154320 15057 16598 1400 4362 2 86025 15630 70395 13539 18970 6040 6254 437570 60250 377320 43861 64767 12486 14645 135759 241561 1 GRANTS TO EXPAND WOMEN'S BUSINESS (PITCH & 53 VOICES) 33 180000 GRANTS FOR LOAN CLIENTS FOR TA SUPPORT 7 20925 PART I, LINE 2: MWF RECORDS MONTHLY GRANT PROGRAM EXPENSES BASED ON THE APPROVED BUDGET BY CATEGORY (STAFFING, CONSULTING, ADMIN, ETC.). GRANTORS REQUEST A REPORT (MONTHLY/QUARTERLY OR YEARLY) FOR MWF TO SUBMIT THAT SUMMARIZES WHAT WAS SPECIFICALLY SPENT BY LINE ITEM FOR THE GRANT AND THAT IS SUBMITTED TO AND THEN REVIEWED AND APPROVED BY THE GRANTOR. X 1 1 X X 0 0 0 0 0 1 0 0 0 CAROLYN CASSIN PRESIDENT & CEO 249573 0 22625 0 16000 0 8064 0 2412 0 298674 0 0 0 ALLYSON BOYLE CHIEF FINANCIAL OFFICER 176947 0 32597 0 0 0 5892 0 8814 0 224250 0 0 0 PART I, LINE 1A PAYMENT FOR DAC SOCIAL CLUB FEE IS PART OF THE CEO CONTRACT. PART I, LINE 6 FYE PAYMENT MADE IN DEC AS BONUS FOR NET INCOME OF ORGANIZATION +$100,000. BONUS IS INITIALLY ELIGIBLE FOR TEAM MEMBERS BASED ON FINANCIAL PERFORMANCE OF THE ORGANIZATION, BUT PAYOUT IS BASED ON PROGRESS IN MEETING THEIR ANNUAL GOALS. FORM 990, PART VI, SECTION A, LINE 1A PER BYLAWS, BOARD OF TRUSTEES MAY DELEGATE ITS POWER AND DUTIES TO MANAGE, DIRECT AND CONTROL THE OPERATIONAL AFFAIRS OF THE CORPORATION TO THE EXECUTIVE COMMITTEE. MEMBERSHIP IS CHAIR OF THE BOARD AND 5 OR MORE TRUSTEES. ACTIONS NOT WITHIN THE SCOPE OF THE EXECUTIVE COMMITTEE INCLUDE: ADOPT AN AGREEMENT OF MERGER OR CONSOLIDATION, AMEND ARTICLES OR BYLAWS, FIX THE COMPENSATION OF ANY PERSON, SELL/LEASE/EXCHANGE/DISPOSE OF PROPERTY, TAKE ANY ACTION CONTRARY TO A DECISION REFLECTED BY A MAJORITY VOTE OF THE FULL BOARD, DISSOLVE THE CORPORATIONS, FILL VACANCIES ON THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B ONCE IN FINAL DRAFT, THE FORM 990 IS PROVIDED TO THE FINANCE COMMITTEE FOR REVIEW. ANY FEEDBACK/COMMENTS ARE INCORPORATED INTO THE FORM 990 AND IT IS THEN PROVIDED TO THE FULL BOARD FOR REVIEW. ANY CHANGES BASED ON BOARD REVIEW ARE PROVIDED TO THE AUDIT FIRM FOR FINAL REVISIONS TO THE FORM 990. FORM 990 IS THEN SIGNED BY THE PRESIDENT AND CEO AND SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE BOARD MEMBERS ARE PROVIDED WITH A CONFLICT OF INTEREST FORM TO BE COMPLETED AND SIGNED. THE OFFICE ADMINISTRATOR COLLECTS ALL FORMS AND VERIFIES THEY ARE ALL COMPLETED AND ON FILE. ANY CONFLICTS NOTED ON THE FORMS ARE BROUGHT TO THE PRESIDENT & CEO'S ATTENTION. IF A CONFLICT OF INTEREST ARISES, A TRUSTEE WITH SAID CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN THE MATTER. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD DETERMINES THE COMPENSATION OF THE FOUNDATION'S CEO. THIS DECISION WAS MADE PRIOR TO HER OFFER OF THE POSITION. DURING HER EMPLOYMENT, AN ANNUAL PERFORMANCE REVIEW IS CONDUCTED BY THE EXECUTIVE COMMITTEE AND COMPENSATION IS RE-EVALUATED AT THAT TIME. ANY CHANGES ARE DELIBERATED UPON BY THE COMMITTEE AND THEN PRESENTED TO THE FULL BOARD. MS CASSIN'S CONTRACT THROUGH 12/31/2025 WAS EXTENDED BY THE FULL BOARD UNTIL 12/31/2026. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 95,050. MANAGEMENT AND GENERAL EXPENSES 23,507. FUNDRAISING EXPENSES 16,382. TOTAL EXPENSES 134,939. FIDUCIARY EXPENSE: PROGRAM SERVICE EXPENSES 569,660. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 569,660. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.