Hatch Detroit
- Assets
- $0.0
- Revenue
- $78.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Detroit, MI
- Founding
- 08/2011
- Data as of
- 03/2022
- EIN
- 45-2450389
Organization Overview
Hatch Detroit is located in Detroit, MI. The organization was established in 2011. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 03/2022, Hatch Detroit employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hatch Detroit 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 03/2022, Hatch Detroit generated $78.2k 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 (18.1%) each year. All expenses for the organization totaled $197.9k during the year ending 03/2022. 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
HATCH DETROIT IS A VEHICLE TO CHAMPION AND SUPPORT INDEPENDENT RETAIL BUSINESSES THROUGH FUNDING, EDUCATION, EXPOSURE, AND MENTORING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HATCH DETROIT RETAIL CONTEST TO SELECT A RETAIL BUSINESS WINNER WHICH IS GRANTED FUND TO ASSIST WITH THE OPENING OF BUSINESS IN DETROIT. IN ADDTION TO PROVIDING FINANCIAL ASSISTANCE TO LOCAL BUSINESSES IN HISTORICAL NEIGHBORHOODS OF DETROIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vittoria Katanski Executive Director | OfficerTrustee | 40 | $42,233 |
Nicholas Gorga President | OfficerTrustee | 8 | $0 |
Ryan Cooley Treasurer | OfficerTrustee | 2 | $0 |
Austin Black Secretary | OfficerTrustee | 2 | $0 |
Anika Goss-Foster Board Member | Trustee | 2 | $0 |
Derek Edwards Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $71,460 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,751 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $78,211 |
| Total Program Service Revenue | $0 |
| Investment income | $22 |
| 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 | $78,233 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100,000 |
| 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. | $42,233 |
| Compensation of current officers, directors, key employees. | $4,223 |
| Compensation to disqualified persons | $39,375 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,505 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,353 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,500 |
| Advertising and promotion | $0 |
| Office expenses | $1,385 |
| Information technology | $675 |
| Royalties | $0 |
| Occupancy | $150 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $665 |
| All other expenses | $0 |
| Total functional expenses | $197,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Hatch Detroit has awarded $30,533 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BAOBAB FARE PURPOSE: FUND INDEPENDENT RETAILERS | $20,533 |
TOMA DETROIT PURPOSE: FUND INDEPENDENT RETAILERS | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Hatch Detroit has recieved totaling $97,500.
| Awarding Organization | Amount |
|---|---|
Comerica Charitable Foundation Detroit, MI PURPOSE: ORGANIZATIONAL SUPPORT FOR WORK ON COMERICA HATCH DETROIT | $50,000 |
United Way For Southeastern Michigan Detroit, MI PURPOSE: GRANT | $20,000 |
United Way For Southeastern Michigan Detroit, MI PURPOSE: GRANT | $20,000 |
Detriot Economic Growth Association Detroit, MI PURPOSE: SMALL BUSINESS RELIEF | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cincinnati Center City Development Corporation Cincinnati, OH | $365,563,062 | $43,403,938 |
Gateway Economic Development Corporation Of Greater Cleveland Cleveland, OH | $401,423,840 | $30,122,951 |
Capitol South Community Urban Redevelopment Corporation Columbus, OH | $40,052,734 | $27,422,003 |
Milwaukee Economic Development Corp Milwaukee, WI | $129,937,785 | $4,507,113 |
The Center Of Workforce Innovations Inc Valparaiso, IN | $2,958,255 | $14,608,336 |
Cintrifuse Cincinnati, OH | $9,097,086 | $17,758,065 |
Walnut Hills Redevelopment Foundation Inc Cincinnati, OH | $7,399,538 | $1,025,062 |
Midtown Detroit Inc Detroit, MI | $6,098,841 | $4,938,478 |
Bellvue Gardens Community Urban Redevelopment Corporation Cincinnati, OH | $29,237,042 | $3,964,847 |
Detriot Economic Growth Association Detroit, MI | $6,651,865 | $5,567,044 |
Downtown Cleveland Improvementcorporation Cleveland, OH | $5,269 | $4,399,889 |
West Central Indiana Economic Development District Inc Terre Haute, IN | $2,629,970 | $4,624,225 |