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 12/2022, Grandmont Rosedale Development Corporation employed 8 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 12/2022, Grandmont Rosedale Development Corporation generated $876.9k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 8.6% per year over the past 4 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
2022
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
GRANDMONT ROSEDALE DEVELOPMENT CORPORATION PROGRAM ACCOMPLISHMENTS 2022 GRANDMONT ROSEDALE DEVELOPMENT CORPORATION REMAINS ONE OF THE MOST WELL- KNOWN AND ACCOMPLISHED COMMUNITY DEVELOPMENT ORGANIZATIONS IN THE DETROIT AREA. WE ORGANIZE A WIDE RANGE OF ECONOMIC DEVELOPMENT AND COMMUNITY ENGAGEMENT PROGRAMS DESIGNED TO HELP OUR COMMUNITY PROSPER AS A PLACE TO LIVE, WORK, SHOP AND PLAY. OUR THREE STRATEGIC PRIORITIES INCLUDE: 1. UNDERTAKE HOUSING INITIATIVES THAT PRESERVE AND PROMOTE HOMEOWNERSHIP, ADDRESS CHRONICALLY VACANT PROPERTIES AND PROVIDE DIFFERENT TYPES OF HOUSING TO MEET THE CHANGING NEEDS OF OUR COMMUNITY. 2. EMPLOY ECONOMIC DEVELOPMENT STRATEGIES THAT CATALYZE THE MARKET AND CREATE OPPORTUNITY FOR ECONOMIC MOBILITY THROUGH ENTREPRENEURSHIP AND BUSINESS DEVELOPMENT. 3. ENGAGE THE COMMUNITY IN COLLECTIVE ACTION TO GENERATE SOLUTIONS TO COMMUNITY PROBLEMS. HOUSING: ONE OF OUR CORE HOUSING STRATEGIES IS TO PURCHASE, RENOVATE AND RE-SELL OR LEASE VACANT HOMES TO NEW OCCUPANTS. TO DATE, WE HAVE RENOVATED AND SOLD OVER 126 SINGLE-FAMILY HOMES. IN EACH CASE, WE TRANSFORMED A NEIGHBORHOOD EYESORE INTO A COMMUNITY ASSET. WE HAVE ALSO BUILT THREE NEW HOMES. IN 2022, WE FOCUSED ON GEARING UP TO BEGIN RENOVATING TWO HISTORIC APARTMENT BUILDINGS ON WEST OUTER DRIVE. RENOVATION WILL BE COMPLETE IN SUMMER 2024. IN TOTAL, WE HAVE COMPLETED 125 HOME REPAIR PROJECTS IN GRANDMONT ROSEDALE, INCLUDING FOUR THAT WERE COMPLETED IN 2022. WE HAVE ONE SINGLE FAMILY HOME IN THE PRE-DEVELOPMENT PIPELINE. ECONOMIC DEVELOPMENT: IN ADDITION TO HOUSING RENOVATION, GRDC ENGAGES IN COMMERCIAL RENOVATION AND SMALL BUSINESS SUPPORT. GRDC HAS RENOVATED A FIVE-UNIT COMMERCIAL BUILDING ON GRAND RIVER, (HOME TO SEVERAL DESIRABLE SMALL BUSINESSES) AS WELL AS A CO-WORKING SPACE, (HOME TO MANY MICRO BUSINESS MEMBERS). WE ALSO PURCHASED A VACANT COMMERCIAL PROPERTY AND ATTRACTED A LOCAL INDEPENDENT RESTAURATEUR, DETROIT VEGAN SOUL, WHICH OPENED A FULL SERVICE RESTAURANT. IN 2022, WE CELEBRATED THE GRAND OPENING OF OUR NEWEST COMMERCIAL TENANT, HM STYLE LOUNGE AND CHILL LOUNGE, A NEW NEIGHBORHOOD WATERING HOLE. IN 2022 WE RETAINED 35 MEMBERS IN OUR CO-WORKING SPACE, SERVED 75 ENTREPRENEURS WILL SUPPORTIVE SERVICES AND HOSTED 6 WORKSHOPS. IN OUR SEASONAL FARMERS' MARKET, WE HOSTED 54 SMALL BUSINESS VENDORS AND PROVIDED FREE FAMILY PROGRAMMING THROUGH 16 COMMUNITY PARTNERS. IN GENERAL, WE PROVIDED SMALL BUSINESS SUPPORT TO OVER 180 BUSINESSES THROUGHOUT THE YEAR. GRDC IS ALSO IN THE PRE-DEVELOPMENT PHASE OF 19505 GRAND RIVER, A LONG BLIGHTED AND VACANT SITE THAT WILL BECOME THE FIRST NEW CONSTRUCTION MIXED- USE DEVELOPMENT IN THIS COMMUNITY IN OVER 30 YEARS. COMMUNITY ENGAGEMENT: GRDC ORGANIZES NEIGHBORHOOD RESIDENTS AND OTHER VOLUNTEERS TO CLEAN UP AND BEAUTIFY VACANT LOTS AND OTHER PUBLIC SPACES. THROUGHOUT OUR HISTORY, WE HAVE ORGANIZED HUNDREDS OF CLEAN-UPS, FLOWER PLANTINGS, GRAFFITI REMOVALS AND PUBLIC ART INSTALLATIONS. IN 2022, WE BEGAN CLEANING UP THREE VACANT LOTS WHERE WE PLAN TO ADD A BUTTERFLY GARDEN, ROSE GARDEN AND "PEACE" GARDEN. WE ALSO INVOLVED THE COMMUNITY IN A VARIETY OF ENGAGEMENT ACTIVITIES SUCH AS FOCUS GROUPS, ADVISORY COUNCILS, ONLINE SURVEYS, PUBLIC MEETINGS AND TASK FORCES TO PLAN AND INFORM A VARIETY OF GRDC PROGRAMS INCLUDING VACANT PROPERTIES, CRIME PREVENTION, ECONOMIC DEVELOPMENT, HOUSING, AND THE ENVIRONMENT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dale Thomson President | OfficerTrustee | 1 | $0 |
Desirae Tolbert Vice Preside | OfficerTrustee | 1 | $0 |
Alexander Derdelakos Treasurer | OfficerTrustee | 1 | $0 |
Annie Mae Holt Secretary | OfficerTrustee | 1 | $0 |
Kevin Johnson Director | Trustee | 1 | $0 |
William Frey Director | Trustee | 1 | $0 |
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 | $688,428 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $688,428 |
Total Program Service Revenue | $163,023 |
Investment income | $16,317 |
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 | $876,933 |
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. | $54,580 |
Compensation of current officers, directors, key employees. | $4,366 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $367,758 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $58,222 |
Payroll taxes | $36,782 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $8,500 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $64,255 |
Advertising and promotion | $2,317 |
Office expenses | $23,864 |
Information technology | $6,435 |
Royalties | $0 |
Occupancy | $37,414 |
Travel | $5,744 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $13,322 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $52,758 |
Insurance | $30,999 |
All other expenses | $4,505 |
Total functional expenses | $1,122,394 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $209,886 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $137,560 |
Accounts receivable, net | $2,467 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $218,466 |
Inventories for sale or use | $70,513 |
Prepaid expenses and deferred charges | $5,465 |
Net Land, buildings, and equipment | $2,534,298 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $900 |
Total assets | $3,179,555 |
Accounts payable and accrued expenses | $100,709 |
Grants payable | $0 |
Deferred revenue | $376,087 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $18,954 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $1,073,908 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $1,569,658 |
Net assets without donor restrictions | $1,422,823 |
Net assets with donor restrictions | $187,074 |
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 | $3,179,555 |