Dmc Foundation
- Assets
- $83.7m
- Revenue
- $8.5m
- Investments
- $65.8m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 04/2011
- Data as of
- 12/2021
- EIN
- 27-3529154
Organization Overview
Dmc Foundation is located in Detroit, MI. The organization was established in 2011. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dmc Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Dmc Foundation generated $8.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.8% each year . All expenses for the organization totaled $3.6m during the year ending 12/2021. While expenses have increased by 5.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Dmc Foundation has awarded 48 individual grants totaling $4,367,431. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE DMC FOUNDATION IS DEDICATED TO PROMOTING THE WELFARE OF THE GENERAL PUBLIC THROUGH THE SUPPORT OF RESEARCH, EDUCATION AND COMMUNITY BENEFIT ACTIVITIES.
Describe the Organization's Program Activity:
SUPPORT OF HEALTH-RELATED RESEARCH, EDUCATION AND COMMUNITY BENEFIT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mariam C Noland President | OfficerTrustee | 3.5 | $0 |
Michael T Monahan Vice Chair | OfficerTrustee | 0.5 | $0 |
Lorna L Thomas MD Chair | OfficerTrustee | 0.5 | $0 |
Henry M Grix Treasurer | OfficerTrustee | 0.5 | $0 |
Arthur T O'reilly End 0321 Treasurer | OfficerTrustee | 0 | $0 |
Matthew J Lewis Secretary | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,342,681 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,342,681 |
| Total Program Service Revenue | $0 |
| Investment income | $943,568 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,208,337 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,497,712 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,535,047 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $441,991 |
| Fees for services: Other | $650,200 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,627,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,000 |
| Savings and temporary cash investments | $9,465,110 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $8,414,654 |
| Investments—other securities | $65,773,946 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,262 |
| Total assets | $83,661,972 |
| Accounts payable and accrued expenses | $582 |
| Grants payable | $226,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $226,582 |
| Net assets without donor restrictions | $83,435,390 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $83,661,972 |
Grants Awarded
Over the last fiscal year, Dmc Foundation has awarded $2,550,382 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
Detroit, MI PURPOSE: SUPPORT FOR THE CONTINUATION AND EXPANSION OF VARIOUS PROJECTS AS WELL AS GENERAL OPERATIONS. | $1,236,221 |
Detroit, MI PURPOSE: SUPPORT OVER TWO YEARS FOR FELLOWSHIP PROGRAMS IN THE FIELD OF CANCER BIOLOGY AT THE KARMANOS CANCER INSTITUTE AND WAYNE STATE UNIVERSITY SCHOOL OF MEDICINE | $127,000 |
Detroit, MI PURPOSE: SUPPORT OVER TWO YEARS TO EXPAND THE DETROIT INSTITUTE OF OPHTHALMOLOGY?S BLIND AND LOW VISION SUPPORT GROUPS FOR OLDER RESIDENTS LIVING IN METROPOLITAN DETROIT | $100,000 |
Warren, MI PURPOSE: SUPPORT FOR FOR CHARITABLE PROGRAMS RELATED TO CANCER OF THE PROSTATE, BLADDER AND KIDNEYS | $75,396 |
Detroit, MI PURPOSE: SUPPORT FOR EXPANSION INCLUDING ENHANCING ULTRASOUND AND LAUNCHING SCREENING MAMMOGRAPHY SERVICES | $75,000 |
Detroit, MI PURPOSE: SUPPORT OVER TWO YEARS FOR A BLACK-LED MENTAL HEALTH PARTNERSHIP PILOT PROGRAM IN DETROIT | $75,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Dmc Foundation has recieved totaling $4,000.
| Awarding Organization | Amount |
|---|---|
June And Cecil Mcdole Charitablefund Bloomfield Hills, MI PURPOSE: MEDICAL RESEARCH | $4,000 |
Endowment Analysis
| Beg. Balance | $70,029,420 |
| Earnings | $8,493,458 |
| Admin Expense | $648,712 |
| Net Contributions | $4,341,307 |
| Grants | $2,512,333 |
| Ending Balance | $79,703,140 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Health Network Foundation Inc Indianapolis, IN | $96,702,775 | $20,395,245 |
Metrohealth Foundation Inc Cleveland, OH | $88,791,792 | $21,235,092 |
Community First Solutions Hamilton, OH | $99,479,120 | $13,306,151 |
Fund For Medical Research And Education Detroit, MI | $30,425,506 | $9,049,534 |
Pulaski Health Foundation Inc Winamac, IN | $8,480,545 | $8,038,166 |
Healthcare Foundation Of La Porte Inc La Porte, IN | $192,768,600 | $27,903,057 |
Legacy Foundation Of Central Wisconsin Inc Wisconsin Rapids, WI | $142,600,446 | $4,980,958 |
Metro Solutions Inc Southfield, MI | $8,153,189 | $9,205,268 |
Marshfield Clinic Health System Foundation Inc Marshfield, WI | $149,772,122 | $21,068,703 |
Legacy Dmc Detroit, MI | $0 | $132,374 |
Umrc Foundation Inc Chelsea, MI | $60,873,284 | $7,062,844 |
W O Walker Center Inc Cleveland, OH | $19,729,896 | $6,201,003 |