Southwest Economic Solutions
- Assets
- $1.9m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 49
- Location
- Detroit, MI
- Founding
- 10/2014
- Data as of
- 09/2023
- EIN
- 46-2252476
Organization Overview
Southwest Economic Solutions is located in Detroit, MI. The organization was established in 2014. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 09/2023, Southwest Economic Solutions employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwest Economic Solutions 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 09/2023, Southwest Economic Solutions generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $3.2m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Southwest Economic Solutions has awarded 12 individual grants totaling $2,455,910. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SOUTHWEST ECONOMIC SOLUTIONS MISSION IS TO PROVIDE OPPORTUNITIES FOR INDIVIDUALS AND FAMILIES TO ACHIEVE GREATER ECONOMIC SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE PRE AND POSTPURCHASE HOMEOWNERSHIP COUNSELING AND EDUCATION TO COMMUNITY RESIDENTS, 638/YEAR.WORKFORCE DEVELOPMENT PROGRAMMING (INTEGRATED EDUCATION AND TRAINING) INCLUDING EARN AND LEARN (154/YEAR), CAREER CENTER (341/YEAR) AND YOUTHBUILD (58/YEAR).ADULT BASIC EDUCATION INCLUDING GED, ESL AND ABE TO 592/YEAR.FINANCIAL COACHING (BUDGETING, CREDIT BUILDING EDUCATION, DEBT REDUCTION, SAVINGS) FOR ALL ENROLLED IN SWES PROGRAMS 525/YEAR..
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Miller Chair | OfficerTrustee | 1 | $0 |
Mark Lezotte Vice Chair | OfficerTrustee | 1 | $0 |
Ron Rose Secretary | OfficerTrustee | 1 | $0 |
Dan Share Treasurer | OfficerTrustee | 1 | $0 |
Albert Fields Director (sws) | Trustee | 1 | $0 |
Aleksandra A Miziolek Director (sws) | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $110,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $109,450 |
| Government grants | $1,646,797 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,010,262 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,876,509 |
| Total Program Service Revenue | $34,734 |
| Investment income | $4,436 |
| 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 | $2,916,697 |
| 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. | $199,928 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,268,441 |
| Pension plan accruals and contributions | $22,412 |
| Other employee benefits | $247,099 |
| Payroll taxes | $102,916 |
| Fees for services: Management | $515,254 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,407 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $219,000 |
| Advertising and promotion | $0 |
| Office expenses | $15,260 |
| Information technology | $17,903 |
| Royalties | $0 |
| Occupancy | $304,457 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46,674 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,126 |
| Insurance | $7,368 |
| All other expenses | $33,235 |
| Total functional expenses | $3,179,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $667,319 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $812,655 |
| 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 | $87,245 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $337,528 |
| Total assets | $1,904,747 |
| Accounts payable and accrued expenses | $108,188 |
| 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 | $283,223 |
| Total liabilities | $391,411 |
| Net assets without donor restrictions | $807,339 |
| Net assets with donor restrictions | $705,997 |
| 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 | $1,904,747 |
Grants Awarded
Over the last fiscal year, Southwest Economic Solutions has awarded $1,493,212 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
FOCUS HOPE PURPOSE: WORKFORCE DEVELOPMENT PARTNERSHIP | $286,606 |
PROSPERUS DETROIT MICROLENDING PURPOSE: FLAGSTAR AD JP MORGAN CHASE FUNDS FOR MICROLOAN CAPITAL FUND | $450,000 |
SOUTHWEST COUNSELING SOLUTIONS PURPOSE: SUPPORT GENERAL OPERATIONS | $10,000 |
FOCUS HOPE PURPOSE: WORKFORCE DEVELOPMENT PARTNERSHIP | $286,606 |
PROSPERUS DETROIT MICROLENDING PURPOSE: FLAGSTAR AD JP MORGAN CHASE FUNDS FOR MICROLOAN CAPITAL FUND | $450,000 |
SOUTHWEST COUNSELING SOLUTIONS PURPOSE: SUPPORT GENERAL OPERATIONS | $10,000 |