Small Business Foundation of Michigan (SBFM)

Established by the past SBAM Chairpersons in 1994, the Small Business Foundation of Michigan (SBFM) is a 501c (3) public supported charitable foundation. SBFM is part of a distinguished group of foundations in Michigan dedicated to bequeathing wealth for charitable purposes. It receives funds from donors, invests the income and pays out the interest and/or principal for meritorious research, education and projects that promote awareness and stimulate the development of small business in Michigan. Foundation funds are allocated by a Foundation board of trustees.

Foundations are created under state law. Because the SBFM serves the public good, it is exempt from paying income tax. Charitable foundations are not required to pay state or federal tax on income generated by investments or exempt activities (e.g., Code Section 501(a); MCLA 206.201, federal excise tax of 1%-2% on net investment income under Code Section 4940). The deductibility of taxpayer contribution to charitable foundation for federal income tax purposes provides tax incentives to create or donate to such organizations.

SBAM Golf Outing – The Small Business Association of Michigan (SBAM) is sponsoring a Golf Outing being held August 14, 2006 at Majestic Golf Course in Hartland. Proceeds of the Outing will benefit the activities of the SBFM.

Examples of SBFM Activities

The Small Business Barometer – For over a decade, the Barometer has provided a unique-in-the-nation report on the economic performance and prospects of the small business community in our state. Barometer survey results are released four times a year: January, April, July and October. The Barometer survey is produced with the participation and support of the Center for Urban Studies of Wayne State University. The surveys are conducted by Public Policy Associates of Lansing.

The Michigan Entrepreneurship Score Card – the annual Score Card measures over a hundred different metrics in order to compare Michigan’s economic performance to other states.

Entrepreneurial Development Center – SBFM provides funding support for the SBAM Entrepreneurial Development Center. The EDC operates a nationally recognized, award winning program to help cutting-edge entrepreneurs collaborate with Michigan universities and secure capital to research, develop and commercialize breakthrough technologies, products and processes. In recognition of its exceptional quality, this program has received several national awards for excellence.

Chairpersons Endowment – Past SBAM Chairpersons have created the “Chairpersons Endowment” – a Restricted Endowment that supports Entrepreneurial Leadership.


SBFM Officers
Sharon Miller
Chairperson, SBFM and
Past Chairperson, Small Business Association of Michigan

Rob Fowler
President, SBFM and
President, Small Business Association of Michigan

Mark H. Clevey
Vice President, SBFM and
Vice President, Entrepreneurial Development, SBAM