Michigan Founders Fund
Michigan Founders Fund (MFF) helps entrepreneurs and their teams become active participants in the communities where they operate throughout the state of Michigan. MFF will provide educational programming and resources that equip entrepreneurs to become stronger leaders and help them build diverse, equitable and inclusive company cultures. MFF programming will enable entrepreneurs to consider the impact of the business on multiple stakeholders, society and the environment. MFF will provide evidenced-based data that empowers entrepreneurs to make charitable financial and service contributions to support the ongoing work of MFF and other nonprofit 501(c)(3) organizations dedicated to advancing entrepreneurs and students in stem and generating positive, sustainable public benefits to communities throughout Michigan. MFF will collaborate with other 501(c)(3) organizations to promote their work and organize service activities for entrepreneurs.
Michigan Founders Fund at a glance
In short: Michigan Founders Fund gave $145K across 7 grants in 2024 (avg $21K), mostly in Michigan. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $144,500
- -12.4% vs 2023
- Grants made (2024)
- 7
- +75.0% vs 2023
- Average grant
- $20,643
- -50.0% vs 2023
- Median grant
- $30,000
- Total assets
- $1,396,799
- +231.8% vs 2023
- Primary geography
- Michigan (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
Who Michigan Founders Fund funds
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
The largest 2024 recipient was Reciprocity LLC ($30K). Together the top 7 received $145K.
Grant Size Distribution
15 grants across all recorded years
The most common grant size was under $50K: 12 grants of 15 (80%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 7 itemized grants.
States
Cities
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2022 to 2024, annual grant giving ranged from $110K (2022) to $165K (2023). In 2024 it made 7 grants totaling $145K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Reciprocity LLC Pontiac, MI | Venture Together Competition Winner | $30,000 |
| Farmish Inc Grand Rapids, MI | Venture Together Competition Winner | $30,000 |
| Strut Motors Inc Detroit, MI | Venture Together Competition Winner | $30,000 |
| Whatseatlike Inc Detroit, MI | Venture Together Competition Winner | $30,000 |
| Kimmie G LLC Ann Arbor, MI | Sports/Tech Venture Pitch Winner | $10,000 |
| Alivio Medical LLC Ann Arbor, MI | Sports/Tech Venture Pitch Winner | $7,500 |
| Athlytic LLC Detroit, MI | Sports/Tech Venture Pitch Winner | $7,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $1,396,799 | $1,887,693 | $1,681,191 | $144,500 | 7 | $19,956 |
| 2023 | $420,972 | $1,171,501 | $1,148,589 | $165,000 | 4 | $3,109 |
| 2022 | $387,553 | $936,800 | $583,538 | $110,002 | 4 | $685 |
About Michigan Founders Fund
Based on IRS filings
Michigan Founders Fund is a public charity, based in Ann Arbor, MI. IRS filing data is available from 2022 through 2024. As of 2024, the organization holds $1.4M in total assets. In 2024, it awarded 7 grants totaling $145K. Net investment income was $20K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Michigan Founders Fund is led by Rishi Moudgil, Executive Director on the 2024 filing; 1 of 5 officers listed in 2024 is compensated.
Officers on the 2024 filing
Rishi Moudgil
Executive Director
New on the 2024 filing
40 hrs/week
$152K (2024)
Adrian Fortino
Treasurer
On filings since 2022
2 hrs/week
No compensation reported
Bhushan Kulkarni
Co-Chair
On filings since 2022
2 hrs/week
No compensation reported
Dug Song
Co-Chair
On filings since 2022
2 hrs/week
No compensation reported
Katy Locker
Board Member At-Large
Director → Board Member At-Large, 2024
On filings since 2023
2 hrs/week
No compensation reported
Former officers (1)
- Former: Trista Van Tine (2022–2023) — Executive Director
Data from IRS Form 990 filings, 2022–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $152K, to Rishi Moudgil (Executive Director).
Frequently asked questions about Michigan Founders Fund
How much does Michigan Founders Fund give each year?
Michigan Founders Fund gave $145K across 7 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $165K across 4 grants.
What is Michigan Founders Fund's typical grant size?
Michigan Founders Fund's median grant in 2024 was $30,000, and its average grant was $20,643, across 7 grants on its 2024 IRS Form 990.
Where does Michigan Founders Fund give grants?
Michigan Founders Fund gives mostly in Michigan: 100% of the grant dollars itemized on its 2024 IRS Form 990 went to recipients there. The most frequent recipient cities were Detroit, MI (3 grants) and Ann Arbor, MI (2 grants).
Does Michigan Founders Fund give general operating support?
Not in 2024: none of the 7 grants with a stated purpose on Michigan Founders Fund's 2024 IRS Form 990 were described as general or operating support. Recurring purposes include "Venture Together Competition Winner" (4 grants) and "Sports/Tech Venture Pitch Winner" (3 grants).
Who are Michigan Founders Fund's largest grantees?
Michigan Founders Fund's largest 2024 grantees include Reciprocity LLC ($30,000), Farmish Inc ($30,000) and Strut Motors Inc ($30,000), according to its 2024 IRS Form 990. Together they received 62% of its itemized 2024 grant dollars.
How large is Michigan Founders Fund?
Michigan Founders Fund reported $1.4M in total assets on its 2024 IRS Form 990. Its revenue that year was $1.9M.
What is Michigan Founders Fund's EIN?
Michigan Founders Fund's EIN (Employer Identification Number) is 86-3992946. IRS Form 990 filing data is available on this page for 2022–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(4)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2022 (received by the IRS November 15, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 7, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 17, 2025)
- IRS filings on file for fiscal years 2022–2024
Explore Open Grants
Browse active grant opportunities in Michigan Founders Fund's focus areas in our free grants database
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