Appropriations Requests for : MSU Research Foundation

1. Cosponsoring legislators:

• Sam Singh

Recipient Information

2. Intended legislatively directed spending item recipient:

MSU Research Foundation

3. Physical address of legislatively directed spending item recipient and the intended location of the project or activity:

MSU Research Foundation 325 E. Grand River Ave. Suite 275 East Lansing, Michigan 48823

4. The recipient's employer identification number:

237326030

Funding Details

5. Requested amount of the legislatively directed spending item:

$3,937,500.00

6. What is the purpose and how does the legislatively directed spending item provide a public benefit that is an appropriate use of taxpayer money?

The Michigan State University Research Foundation respectfully requests a change in the grant waterfall requirement which is budget neutral and continues to fund its established Purchase Order (PO) Financing Program — a proven, revenue-backed working capital tool serving Michigan’s growth-stage small and medium-sized businesses. Unlike new initiatives requiring startup infrastructure, this program is fully operational. Over the past four years, MSU Research Foundation has invested significant institutional time and resources — including extensive legal structuring, underwriting policy development, risk management systems, and compliance processes — to build a disciplined and scalable lending platform. The requested change would capitalize an already functioning revolving loan system capable of immediate deployment. As loans are repaid, capital is recycled into new Michigan companies, creating long-term economic impact from a one-time investment.

7. Has the legislatively directed spending item previously received or been awarded any of the following types of funding in the past 5 years?

✓ Yes: State Funding

Amount received: $3,937,500.00

8. Estimated time frame for completion of the legislatively directed spending item project:

Capital expected to be recycled over several years

Additional Information For Nonprofit Corporations

9. Is the recipient a nonprofit corporation?

Yes

4. Officers and active members on the board of directors:

Randy Cowen* (Board Chair) John Phillips* (Vice Chair) Bruce Leech* (Treasurer) Linda Hubbard* (Secretary) Phil Zecher* (President) David Washburn* (Chief Executive Officer) Rebecca Bahar-Cook Renee Knake Jefferson Shashank Priya Laura Lee McIntyre Lisa Frace Joel Wittenberg Jeff deGraaf Stan Sokolowski Jon Braeutigam Kermit Brooks Kathryn Stewart Ethel Cormier Howard Akumiah Rick Lasch Chris Sugden Alyssa Harvey Dawson Brian Van Elslander Kevin Guskiewicz

Certification By Sponsoring Legislator

• "I certify that my immediate family members, legislative staff members, and I have no direct or indirect pecuniary interest in the requested legislatively directed spending item."
• "I certify that the intended recipient of this legislatively directed spending item is not a for-profit entity."
• "I certify that the information in this form is true to the best of my knowledge."

Senator Sam Singh