Dte Energy Foundation
- Assets
- $166.0m
- Revenue
- $32.2m
- Investments
- $140.0m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 10/1988
- Data as of
- 12/2021
- 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 12/2021, Dte Energy Foundation generated $32.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $25.6m during the year ending 12/2021. While expenses have increased by 6.1% 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 2014, Dte Energy Foundation has awarded 4,153 individual grants totaling $195,827,624. 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
2021
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynette M Dowler Director, Chair & President | 6 | $0 | |
Rodney E Cole Sr Director, Vice President-Partial Year | 4 | $0 | |
Joann Chavez Director | 1 | $0 | |
Trevor F Lauer Director | 1 | $0 | |
David E Meador Director | 1 | $0 | |
David Ruud Director, Treasurer & Secretary | 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 | $25,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,673,298 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,510,023 |
| Capital Gain Net Income | $2,510,023 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $32,183,321 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $734,585 |
| Pension plans, employee benefits | $336,427 |
| Interest | $0 |
| Taxes | $49,100 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $33,242 |
| Total operating and administrative expenses | $1,447,494 |
| Contributions, gifts, grants paid | $24,167,271 |
| Total expenses and disbursements | $25,614,765 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,621,093 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $10,029,781 |
| 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 | $282,689 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $106,264,762 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $165,950,300 |
| Accounts payable and accrued expenses | $171,522 |
| Grants payable | $16,786,847 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,500 |
| Total liabilities | $16,960,869 |
Grants Awarded
Over the last fiscal year, Dte Energy Foundation has awarded $31,116,674 in support to 535 organizations.
| Grant Recipient | Amount |
|---|---|
Detroit, MI PURPOSE: COMMUNITY TRANSFORMATION | $2,015,000 |
Boston, MA PURPOSE: COMMUNITY TRANSFORMATION | $2,000,000 |
UNITED WAY FOR SOUTHEASTERN MICHIGAN PURPOSE: HUMAN NEEDS | $875,000 |
Detroit, MI PURPOSE: ECONOMIC PROGRESS | $667,000 |
Detroit, MI PURPOSE: ECONOMIC PROGRESS | $667,000 |
Detroit, MI PURPOSE: ECONOMIC PROGRESS | $666,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Dte Energy Foundation has recieved totaling $57,865.
| Awarding Organization | Amount |
|---|---|
Muskegon Area Chamber Of Commerce Foundation Muskegon, MI PURPOSE: PROGRAM SERVICES | $30,000 |
Round It Up America Inc Los Angeles, CA PURPOSE: COMMUNITY SERVICE PROGRAMS | $27,865 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lynde And Harry Bradley Foundation Inc Milwaukee, WI | $1,061,478,184 | $82,867,746 |
Herbert H & Grace A Dow Foundation Midland, MI | $575,608,768 | $36,767,282 |
Dte Energy Foundation Detroit, MI | $165,950,300 | $32,183,321 |
Progressive Insurance Foundation Cleveland, OH | $7,804,354 | $47,823,383 |
Highlands Foundation Inc Madison, WI | $16,807,622 | $1,089,528 |
Rockwell Automation Charitable Corporation Milwaukee, WI | $6,137,007 | $10,007,891 |
Third Federal Foundation Cleveland, OH | $35,709,526 | $3,618,702 |
Gii Charities Grand Rapids, MI | $4,065,002 | $6,112,431 |
Westfield Insurance Foundation Westfield Center, OH | $42,931,784 | $4,362,594 |
Morgan Family Foundation Yellow Springs, OH | $51,827,477 | $1,582,241 |
Harry M And Violet Turner Charitable Trust Springfield, OH | $29,217,065 | $2,348,308 |
Penske Foundation Inc Bloomfield Hills, MI | $17,008,099 | $10,243,924 |