Dte Energy Foundation
- Assets
- $120.1m
- Revenue
- $4.5m
- Investments
- $116.5m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 10/1988
- Data as of
- 12/2023
- EIN
- 38-2708636
Organization Overview
Dte Energy Foundation is located in Detroit, MI. The organization was established in 1988. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dte Energy 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 12/2023, Dte Energy Foundation generated $4.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (14.8%) each year. All expenses for the organization totaled $26.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Dte Energy Foundation has awarded 5,032 individual grants totaling $248,367,618. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
COVID RESPONSE ACTIVITIES PPE KITS (GLOVES, SANITIZER AND MASKS) WERE PURCHASED AND PROVIDED TO SMALL BUSINESSES IN DETROIT, ANN ARBOR, GRAND RAPIDS, AND MUSKEGON; FACE MASKS WERE PURCHASED AND PROVIDED TO FIRST RESPONDERS IN MICHIGAN COMMUNITIES.ADDITIONALLY 51,000 LAPTOPS EQUIPPED WITH HIGH-SPEED INTERNET CONNECTIVITY WERE PROVIDED FOR ALL DETROIT PUBLIC SCHOOLS COMMUNITY DISTRICT STUDENTS AS A PART OF THE CONNECTED FUTURES COALITION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rodney E Cole Sr Chair, President, & Director | 20 | $0 | |
David Ruud Director, Treasurer & Secretary | 1 | $0 | |
Joann Chavez Director | 1 | $0 | |
Trevor F Lauer Director | 1 | $0 | |
Joi Harris Director | 1 | $0 | |
Paula Silver Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bodman Plc | 12/30/20 | $106,472 |
Truscott Rossman Group Llc | 12/30/20 | $50,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,914,782 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,588,992 |
| Capital Gain Net Income | $1,287,507 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,503,774 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $799,708 |
| Pension plans, employee benefits | $307,616 |
| Interest | $0 |
| Taxes | $34,800 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $41,512 |
| Total operating and administrative expenses | $1,493,002 |
| Contributions, gifts, grants paid | $24,833,367 |
| Total expenses and disbursements | $26,326,369 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,400,215 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $16,311 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $184,681 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $89,485,647 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $120,093,193 |
| Accounts payable and accrued expenses | $206,771 |
| Grants payable | $14,326,882 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $15,000 |
| Total liabilities | $14,548,653 |
Grants Awarded
Over the last fiscal year, Dte Energy Foundation has awarded $31,829,888 in support to 439 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS PURPOSE: COMMUNITY TRANSFORMATION | $100,000 |
ACCENT PONTIAC INC PURPOSE: ARTS & CULTURE | $2,500 |
ACCOUNTING AID SOCIETY PURPOSE: ECONOMIC PROGRESS | $10,000 |
AFFIRMATIONS COMMUNITY CENTER PURPOSE: COMMUNITY TRANSFORMATION | $5,000 |
AFTER 26 PROJECT INC PURPOSE: EDUCATION | $26,000 |
AFPD FOUNDATION INC PURPOSE: EDUCATION | $10,000 |