Flint business consultants get $500K from 2024 state budget
Comes on the heels of grants in 2019 and 2020
The Flint nonprofit 100K Ideas was one of many organizations to receive special treatment from Michigan lawmakers in the 2024 budget, receiving $500,000. The organization helps business start-ups.
The nonprofit received $669,514 in total contributions in 2021, according to its Form 990. It received $292,682 in state grants and $298,193 in other contributions in 2020, according to its most recently available financial audit. In 2019 it received $42,886 in state grants and $870,831 in other contributions.
The nonprofit receives a relatively modest amount of revenue by charging for some of its services. It provides an initial free assessment for clients, with follow-on consulting fees of $40 per hour or $100 per month. In 2020, it received $16,846 in program service fees.
The front page of 100K Ideas’ website indicates it receives funding from various charitable foundations and a commercial bank. The page indicates that support also comes from the Michigan Economic Development Corporation, a state agency that distributes taxpayer subsidies to select companies.
100K Ideas did not respond to an email seeking comment.
Michigan Capitol Confidential is the news source produced by the Mackinac Center for Public Policy. Michigan Capitol Confidential reports with a free-market news perspective.