Dmc Foundation
- Assets
- $71.9m
- Revenue
- $5.9m
- Investments
- $45.9m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 04/2011
- Data as of
- 12/2022
- 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 12/2022, Dmc Foundation generated $5.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $3.2m during the year ending 12/2022. While expenses have increased by 0.6% per year over the past 5 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 62 individual grants totaling $6,455,226. 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
2022
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 |
|---|---|---|---|
Richard L Devore Start 422 Director, And President | OfficerTrustee | 3.5 | $0 |
Mariam C Noland End 322 President | OfficerTrustee | 3.5 | $0 |
Henry M Grix Treasurer | OfficerTrustee | 0.5 | $0 |
Jack Martin Start 322 Vice Chair | OfficerTrustee | 0.5 | $0 |
Lorna L Thomas MD Chair | OfficerTrustee | 0.5 | $0 |
Michael T Monahan End 622 Vice Chair | OfficerTrustee | 0.5 | $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 | $9,691 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,691 |
| Total Program Service Revenue | $0 |
| Investment income | $1,072,039 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,811,968 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,894,003 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,087,795 |
| 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 | $380,843 |
| Fees for services: Other | $699,326 |
| 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 | $5,283 |
| Total functional expenses | $3,173,247 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,194 |
| Savings and temporary cash investments | $12,015,073 |
| 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 | $13,962,110 |
| Investments—other securities | $45,945,352 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,493 |
| Total assets | $71,926,222 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $225,323 |
| 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 | $225,323 |
| Net assets without donor restrictions | $71,700,899 |
| 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 | $71,926,222 |
Grants Awarded
Over the last fiscal year, Dmc Foundation has awarded $2,087,795 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HEART ASSOCIATION INC-METRO DETROIT PURPOSE: SUPPORT FOR COMMUNITY COLLABORATIVE EXPANSION TO REDUCE DETROIT OUT PATIENT CARDIAC ARREST DEATHS | $100,000 |
CHILDREN'S LEUKEMIA FOUNDATION OF MICHIGAN PURPOSE: SUPPORT FOR PATIENTS IN METRO DETROIT WITH DELAYED BLOOD CANCER DIAGNOSIS DUE TO COVID-19 PANDEMIC | $62,000 |
CITY OF DEARBORN PURPOSE: SUPPORT FOR A COMMUNITY HEALTH NEEDS ASSESSMENT IN THE CITY, FOCUSED ON THE ARAB-AMERICAN COMMUNITY | $100,000 |
COMMUNITY FOUNDATION FOR SE MICHIGAN PURPOSE: SUPPORT FOR PARTICIPATION IN A FUNDERS COLLABORATIVE TO ADDRESS INEQUITIES IN ORAL HEALTH CARE | $75,000 |
COVENANT COMMUNITY CARE INC PURPOSE: SUPPORT FOR FURNITURE AND EQUIPMENT FOR CENTERING PROGRAMS SUITE FOR SW DETROIT MOTHERS AND CHILDREN | $35,000 |
DETROIT INTERNATIONAL RESEARCH AND EDUCATION PURPOSE: SUPPORT FOR FOR CHARITABLE PROGRAMS RELATED TO CANCER OF THE PROSTATE, BLADDER AND KIDNEYS | $79,791 |