Comerica Charitable Foundation
- Assets
- $6.2m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 02/1998
- Data as of
- 12/2022
- EIN
- 38-3373052
Organization Overview
Comerica Charitable Foundation is located in Detroit, MI. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Comerica Charitable 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 12/2022, Comerica Charitable Foundation generated $3.8m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $3.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Comerica Charitable Foundation has awarded 1,081 individual grants totaling $11,391,475. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wendy Bridges Chair & Director | 1 | $0 | |
Nicole V Gersch Assistant Corporate Secretary | 1 | $0 | |
Stanislava Kostova Treasurer | 1 | $0 | |
Jennifer S Perry Corporate Secretary | 1 | $0 | |
Shelly P Pisors President & Director | 1 | $0 | |
Susan R Joseph Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,663,536 |
| Interest on Savings | $100,245 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,763,781 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $14,999 |
| Contributions, gifts, grants paid | $3,635,037 |
| Total expenses and disbursements | $3,650,036 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,857 |
| Savings and temporary cash investments | $6,228,506 |
| Net Accounts receivable | $0 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,249,363 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Comerica Charitable Foundation has awarded $3,635,037 in support to 349 organizations.
| Grant Recipient | Amount |
|---|---|
ABILITYFIRST PURPOSE: ABILITYFIRST SUPPORTED EMPLOYMENT PROGRAM | $25,000 |
AFFORDABLE HOUSING CLEARINGHOUSE PURPOSE: FINANCIAL EMPOWERMENT & HOMEBUYER ORIENTATION | $10,000 |
AFRICAN AMERICAN COMMUNITY SERVICES AGENCY PURPOSE: SMALL BUSINESS BOOT CAMP | $7,500 |
AFRICAN AMERICAN COMMUNITY SERVICES AGENCY PURPOSE: SMALL BUSINESS BOOT CAMP | $12,500 |
ASIAN PACIFIC ISLANDER SMALL BUSINESS PROGRAM INC PURPOSE: ASIAN PACIFIC ISLANDER SMALL BUSINESS PROGRAM | $10,000 |
BOOKER T WASHINGTON COMMUNITY SERVICE CENTER PURPOSE: BACKPACK GIVEAWAY | $10,000 |