Grandmont Rosedale Development Corporation is located in Detroit, MI. The organization was established in 1991. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Grandmont Rosedale Development Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grandmont Rosedale Development Corporation 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, Grandmont Rosedale Development Corporation generated $901.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.4%) each year. All expenses for the organization totaled $793.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (15.0%) per year over the past 7 years. 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 GRANDMONT ROSEDALE DEVELOPMENT CORPORATION IS A NON-PROFIT, COMMUNITY- BASED ORGANIZATION WORKING TO PRESERVE AND IMPROVE THE GRANDMONT ROSEDALE NEIGHBORHOODS OF NORTHWEST DETROIT. WE TAKE A COMPREHENSIVE APPROACH TO COMMUNITY REVITALIZATION, WITH PROGRAMS DESIGNED TO RENOVATE VACANT HOMES, ASSIST LOCAL HOMEOWNERS AND BUSINESSES, BEAUTIFY OUR COMMUNITY AND KEEP OUR NEIGHBORHOODS SAFE AND VIBRANT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN ITS 33-YEAR HISTORY, THE GRANDMONT ROSEDALE DEVELOPMENT CORPORATION (GRDC) HAS SUCCESSFULLY RENOVATED AND SOLD MORE THAN 120 ONCE-ABANDONED HOUSES THROUGH ITS HOME RENOVATION PROGRAM. WE ALSO BUILT 3 NEW HOUSES AND SOLD THEM TO LOW/MODERATE-INCOME FAMILIES. GRDC HAS PROVIDED HOME REPAIR LOANS, GRANTS AND ASSISTANCE TO 156 HOMEOWNERS. GRDC IS WORKING TO REVITALIZE OUR NEIGHBORHOOD COMMERCIAL DISTRICTS. WE HAVE RENOVATED 5 COMMERCIAL BUILDINGS AND HAVE HELPED SEVERAL SMALL BUSINESSES FIND A HOME IN THE GRANDMONT ROSEDALE BUSINESS COMMUNITY. WE RENOVATED AND OPENED THE FIRST NEIGHBORHOOD CO-WORKING SPACE CALLED GRAND RIVER WORKPLACE AT 19120 GRAND RIVER. THIS BUILDING FUNCTIONS AS A BUSINESS INCUBATOR AND HAS SPACE TO LEASE TO SMALL AND START-UP BUSINESSES. THE GRAND RIVER WORKPLACE ALSO FUNCTIONS AS A HUB FOR SMALL BUSINESS RESOURCES AND TECHNICAL ASSISTANCE. WE ALSO OPENED THE ANNEX: CULTURAL INCUBATOR IN 2018, NOW HOME TO NORWEST GALLERY OF ART. WE OPERATE A WEEKLY NEIGHBORHOOD FARMERS' MARKET FROM JUNE - OCTOBER WITH OVER 20 VENDORS, AND A COMMUNITY GARDEN EACH SUMMER/FALL. OUR COMMERCIAL FACADE IMPROVEMENT PROGRAM HELPED 38 BUILDING OWNERS ALONG GRAND RIVER UPDATE AND IMPROVE THEIR STOREFRONTS. GRDC HAS REMOVED GRAFFITI FROM OVER 650 BUILDINGS. WE HAVE BOARDED UP AND MAINTAINED HUNDREDS OF VACANT HOUSES. GRDC HAS BROUGHT IN OVER 2.1 MILLION IN INVESTMENT TO IMPROVE OUR GRAND RIVER STREETSCAPE. PROJECTS INCLUDE NEW PAVING, NEW STREETLIGHTS, NEW SIDEWALKS, DECORATIVE CROSSWALKS, NEW BUS STOPS, LANDSCAPING, STREET TREES, MURALS, AND NEW SIGNAGE THROUGHOUT THE DISTRICT. ANOTHER 11 MILLION IN GRAND RIVER STREETSCAPE INVESTMENTS IS PLANNED FOR 2019. GRDC HAS RENOVATED 7 NEIGHBORHOOD PARKS AND SCHOOL PLAYGROUNDS. WE ALSO INSTALLED A NEW FOOTBALL FIELD, RENOVATED THE FOUR BASEBALL FIELDS AT STOEPEL PARK AND AN OUTDOOR MOSAIC ART GALLERY THAT ADORN THE BACKS OF ALL EIGHT NEW DUGOUTS. GRDC HAS COORDINATED TENS OF THOUSANDS OF VOLUNTEER HOURS IN COMMUNITY BEAUTIFICATION PROJECTS. WE HAVE REPURPOSED OVER 17 VACANT LOTS, PLANTING GARDENS AND COMMUNITY SPACES. GRDC OPERATES A VACANT PROPERTY TASK FORCE THAT INCLUDES RESIDENT-LED INITIATIVES TO MAINTAIN ABANDONED HOMES, CONDUCT REGULAR TRASH PICK-UP EVENTS, FLOWER PLANTINGS, AND MOWER GROUPS. GRDC OPERATES A COMMUNITY SAFETY PROGRAM THAT INCLUDES THE FOLLOWING RESIDENT-LED ELEMENTS: NEIGHBORHOOD SAFETY MEETINGS, DISTRIBUTION OF CRIME PREVENTION TIPS, COORDINATION WITH LOCAL POLICE, CRIME ALERT SYSTEM, AND A CITY-WIDE CRIME PREVENTION AND QUALITY OF LIFE ORDINANCE. GRDC SERVES OVER 20,000 RESIDENTS, 5,600 HOUSEHOLDS AND HAS MARSHALED MORE THAN 50 MILLION DOLLARS IN NEW INVESTMENT IN THE GRANDMONT ROSEDALE COMMUNITIES. A BOARD OF DIRECTORS COMPRISED OF NEIGHBORHOOD RESIDENTS AND BUSINESS OWNERS GOVERNS GRDC. IT HAS A DIVERSE PROFESSIONAL STAFF WITH A VARIETY OF EXPERTISE TO CARRY OUT ITS PROGRAMS.
IN ITS 33-YEAR HISTORY, THE GRANDMONT ROSEDALE DEVELOPMENT CORPORATION (GRDC) HAS SUCCESSFULLY RENOVATED AND SOLD MORE THAN 120 ONCE-ABANDONED HOUSES THROUGH ITS HOME RENOVATION PROGRAM. WE ALSO BUILT 3 NEW HOUSES AND SOLD THEM TO LOW/MODERATE-INCOME FAMILIES. GRDC HAS PROVIDED HOME REPAIR LOANS, GRANTS AND ASSISTANCE TO 156 HOMEOWNERS. GRDC IS WORKING TO REVITALIZE OUR NEIGHBORHOOD COMMERCIAL DISTRICTS. WE HAVE RENOVATED 5 COMMERCIAL BUILDINGS AND HAVE HELPED SEVERAL SMALL BUSINESSES FIND A HOME IN THE GRANDMONT ROSEDALE BUSINESS COMMUNITY. WE RENOVATED AND OPENED THE FIRST NEIGHBORHOOD CO-WORKING SPACE CALLED GRAND RIVER WORKPLACE AT 19120 GRAND RIVER. THIS BUILDING FUNCTIONS AS A BUSINESS INCUBATOR AND HAS SPACE TO LEASE TO SMALL AND START-UP BUSINESSES. THE GRAND RIVER WORKPLACE ALSO FUNCTIONS AS A HUB FOR SMALL BUSINESS RESOURCES AND TECHNICAL ASSISTANCE. WE ALSO OPENED THE ANNEX: CULTURAL INCUBATOR IN 2018, NOW HOME TO NORWEST GALLERY OF ART. WE OPERATE A WEEKLY NEIGHBORHOOD FARMERS' MARKET FROM JUNE - OCTOBER WITH OVER 20 VENDORS, AND A COMMUNITY GARDEN EACH SUMMER/FALL. OUR COMMERCIAL FACADE IMPROVEMENT PROGRAM HELPED 38 BUILDING OWNERS ALONG GRAND RIVER UPDATE AND IMPROVE THEIR STOREFRONTS. GRDC HAS REMOVED GRAFFITI FROM OVER 650 BUILDINGS. WE HAVE BOARDED UP AND MAINTAINED HUNDREDS OF VACANT HOUSES. GRDC HAS BROUGHT IN OVER 2.1 MILLION IN INVESTMENT TO IMPROVE OUR GRAND RIVER STREETSCAPE. PROJECTS INCLUDE NEW PAVING, NEW STREETLIGHTS, NEW SIDEWALKS, DECORATIVE CROSSWALKS, NEW BUS STOPS, LANDSCAPING, STREET TREES, MURALS, AND NEW SIGNAGE THROUGHOUT THE DISTRICT. ANOTHER 11 MILLION IN GRAND RIVER STREETSCAPE INVESTMENTS IS PLANNED FOR 2019. GRDC HAS RENOVATED 7 NEIGHBORHOOD PARKS AND SCHOOL PLAYGROUNDS. WE ALSO INSTALLED A NEW FOOTBALL FIELD, RENOVATED THE FOUR BASEBALL FIELDS AT STOEPEL PARK AND AN OUTDOOR MOSAIC ART GALLERY THAT ADORN THE BACKS OF ALL EIGHT NEW DUGOUTS. GRDC HAS COORDINATED TENS OF THOUSANDS OF VOLUNTEER HOURS IN COMMUNITY BEAUTIFICATION PROJECTS. WE HAVE REPURPOSED OVER 17 VACANT LOTS, PLANTING GARDENS AND COMMUNITY SPACES. GRDC OPERATES A VACANT PROPERTY TASK FORCE THAT INCLUDES RESIDENT-LED INITIATIVES TO MAINTAIN ABANDONED HOMES, CONDUCT REGULAR TRASH PICK-UP EVENTS, FLOWER PLANTINGS, AND MOWER GROUPS. GRDC OPERATES A COMMUNITY SAFETY PROGRAM THAT INCLUDES THE FOLLOWING RESIDENT-LED ELEMENTS: NEIGHBORHOOD SAFETY MEETINGS, DISTRIBUTION OF CRIME PREVENTION TIPS, COORDINATION WITH LOCAL POLICE, CRIME ALERT SYSTEM, AND A CITY-WIDE CRIME PREVENTION AND QUALITY OF LIFE ORDINANCE. GRDC SERVES OVER 20,000 RESIDENTS, 5,600 HOUSEHOLDS AND HAS MARSHALED MORE THAN 50 MILLION DOLLARS IN NEW INVESTMENT IN THE GRANDMONT ROSEDALE COMMUNITIES. A BOARD OF DIRECTORS COMPRISED OF NEIGHBORHOOD RESIDENTS AND BUSINESS OWNERS GOVERNS GRDC. IT HAS A DIVERSE PROFESSIONAL STAFF WITH A VARIETY OF EXPERTISE TO CARRY OUT ITS PROGRAMS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Renee Kent President | OfficerTrustee | 1 | $0 |
Tim Beckett Treasurer | OfficerTrustee | 1 | $0 |
Dale Thomson President-El | OfficerTrustee | 1 | $0 |
Annie Mae Holt Secretary | OfficerTrustee | 1 | $0 |
Kevin Johnson Officer At L | OfficerTrustee | 1 | $0 |
Michael Randall Executive Di | Officer | 40 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $92,600 |
All other contributions, gifts, grants, and similar amounts not included above | $585,320 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $677,920 |
Total Program Service Revenue | $156,247 |
Investment income | $14,146 |
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 | $12,686 |
Miscellaneous Revenue | $0 |
Total Revenue | $901,710 |
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 | $76,980 |
Other salaries and wages | $298,627 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $77,910 |
Payroll taxes | $28,771 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $16,609 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $32,926 |
Advertising and promotion | $3,287 |
Office expenses | $31,771 |
Information technology | $6,695 |
Royalties | $0 |
Occupancy | $28,391 |
Travel | $1,155 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $13,385 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $51,899 |
Insurance | $15,602 |
All other expenses | $9,355 |
Total functional expenses | $793,514 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $366,571 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $55,852 |
Accounts receivable, net | $573 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $232,656 |
Inventories for sale or use | $66,675 |
Prepaid expenses and deferred charges | $6,228 |
Net Land, buildings, and equipment | $3,196,472 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $900 |
Total assets | $3,925,927 |
Accounts payable and accrued expenses | $26,911 |
Grants payable | $0 |
Deferred revenue | $376,087 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $5,863 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $1,651,773 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $9,935 |
Total liabilities | $2,070,569 |
Net assets without donor restrictions | $1,489,484 |
Net assets with donor restrictions | $365,874 |
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 | $3,925,927 |
Over the last fiscal year, we have identified 8 grants that Grandmont Rosedale Development Corporation has recieved totaling $433,565.
Awarding Organization | Amount |
---|---|
Enterprise Community Partners Inc Columbia, MD PURPOSE: CAPACITY BUILDING | $225,000 |
Community Foundation For Southeast Michigan Detroit, MI PURPOSE: SMALL BUSINESS DEVELOPMENT AND COMMERCIAL ACTIVATION WORK ON THE GRAND RIVER CORRIDOR | $90,000 |
Community Foundation For Southeast Michigan Detroit, MI PURPOSE: ANCHOR BUSINESS SUPPORT PROGRAM | $50,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $25,000 |
Invest Detroit Foundation Detroit, MI PURPOSE: COMMUNITY ENGAGEMENT GRANT | $25,000 |
Capital Impact Partners Arlington, VA PURPOSE: DETROIT 2021 EDI PROJECT -20211027 | $10,000 |
Organization Name | Assets | Revenue |
---|---|---|
Future Wisconsin Housing Fund Inc Middleton, WI | $105,291,826 | $25,347,927 |
Insight Development Corporation Indianapolis, IN | $86,054,404 | $6,705,659 |
Center For Veterans Issues Inc Milwaukee, WI | $5,642,001 | $8,532,002 |
Humble Design Inc Pontiac, MI | $2,806,742 | $4,815,118 |
Iccf Nonprofit Housing Corporation Grand Rapids, MI | $1,860,617 | $4,091,908 |
Fairfax Renaissance Development Corporation Cleveland, OH | $25,841,222 | $4,040,938 |
Hnhf Realty Collaborative Columbus, OH | $16,269,081 | $6,664,003 |
Habitat For Humanity International Inc Chardon, OH | $2,492,105 | $2,255,575 |
Price Hill Will Cincinnati, OH | $9,496,741 | $2,318,881 |
Hamilton County Area Neighborhood Development Inc Noblesville, IN | $13,954,467 | $2,220,714 |
Home Is The Foundation Eaton, OH | $5,104,340 | $1,424,372 |
Neighborhoods Inc Of Battle Creek Battle Creek, MI | $3,024,421 | $903,577 |