Detroit Downtown Inc
- Assets
- $1.5m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 06/1952
- Data as of
- 12/2021
- EIN
- 38-0389330
Organization Overview
Detroit Downtown Inc is located in Detroit, MI. The organization was established in 1952. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit Downtown Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Detroit Downtown Inc generated $4.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $4.7m during the year ending 12/2021. While expenses have increased by 4.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY PURPOSE IS TO PROVIDE A CLEAN, SAFE AND BEAUTIFUL DOWNTOWN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESTABLISHED IN APRIL 2014, THE DOWNTOWN DETROIT BUSINESS IMPROVEMENT ZONE (BIZ) IS A SPECIAL ASSESSMENT DISTRICT FORMED BY PROPERTY OWNERS TO PROVIDE CLEANING, SAFETY AND LANDSCAPING SERVICES TO SUPPORT DOWNTOWN DETROIT. THE DOWNTOWN DETROIT BIZ CONTRACTS FOR SERVICES WITH THE DETROIT DOWNTOWN, INC. TO DELIVER BEHIND-THE-SCENES SUPPLEMENTAL SERVICES ON WHICH RESIDENTS, DOWNTOWN WORKERS, VISITORS, AND BUSINESS AND PROPERTY OWNERS RELY. THE BIZ'S ANNUAL BUDGET IS APPROXIMATELY $4.6M, GENERATED THROUGH ASSESSMENTS OF MORE THAN 500 COMMERCIAL PROPERTIES IN THE BIZ AREA. THE BIZ IS LED BY A BOARD OF DIRECTORS COMPRISED OF 13 VOLUNTEER REPRESENTATIVES OF DOWNTOWN'S DIVERSE BUSINESS COMMUNITY. THE BIZ AREA ENCOMPASSES 140 CITY BLOCKS IN A 1.1 SQUARE MILE AREA. STRETCHING BETWEEN THREE OF DOWNTOWN DETROIT'S MAJOR HIGHWAYS AND THE DETROIT RIVER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Cullen Vice Chair | OfficerTrustee | 1 | $0 |
Cynthia Pasky Chair | OfficerTrustee | 1 | $0 |
Eric B Larson CEO | OfficerTrustee | 1 | $0 |
Daniel Loepp Vice Chair | OfficerTrustee | 1 | $0 |
Paul Trulick Treasurer/secretary | OfficerTrustee | 10 | $0 |
Gerard Anderson Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Artistic Holiday Designs Llc Holiday Lighting Project | 12/30/20 | $123,394 |
Block By Block Labor Subcontractor | 12/30/20 | $2,901,112 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $63,500 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $63,500 |
| Total Program Service Revenue | $4,667,523 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,731,023 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $723,003 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,956,657 |
| 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 | $494 |
| Total functional expenses | $4,680,154 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $314,753 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,148,860 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,463,613 |
| Accounts payable and accrued expenses | $1,209,578 |
| Grants payable | $0 |
| 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 | $1,209,578 |
| Net assets without donor restrictions | $254,035 |
| 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 | $1,463,613 |
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