Wayne County-Detroit Cde Inc is located in Detroit, MI. The organization was established in 2006. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wayne County-Detroit Cde Inc 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 08/2021, Wayne County-Detroit Cde Inc generated $730.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $491.1k during the year ending 08/2021. While expenses have increased by 2.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ESTABLISHED TO ADMINISTER THE FEDERAL NEW MARKETS TAX CREDIT PROGRAM FOR THE PURPOSE OF REVITALIZING LOW INCOME COMMUNITIES BY ATTRACTING PRIVATE AND/OR PUBLIC INVESTORS WHO WILL REBUILD NEIGHBORHOODS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED INVESTMENT CAPITAL THAT WILL BE USED TO REVITALIZE LOW INCOME COMMUNITIES IN WAYNE COUNTY, MICHIGAN. THE ORGANIZATION WAS ALLOCATED NEW MARKET TAX CREDITS AUTHORITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Khalil Rahal Executive Di | OfficerTrustee | 2 | $0 |
June Lee Chairman | OfficerTrustee | 0.3 | $0 |
Mathieu Dube Board Member | Trustee | 0.3 | $0 |
Yogesh Gusani Board Member | Trustee | 0.3 | $0 |
Eva Dewaelsche Board Member | Trustee | 0.3 | $0 |
Byna Elliott Board Member | Trustee | 0.3 | $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 | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $0 |
Investment income | $5,867 |
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 | $730,026 |
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 | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $16,584 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $58,800 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
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 | $0 |
All other expenses | $0 |
Total functional expenses | $491,112 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $4,170,639 |
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 | $492,402 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $1,025 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $102,188 |
Total assets | $4,766,254 |
Accounts payable and accrued expenses | $7,195 |
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 | $2,011,300 |
Total liabilities | $2,018,495 |
Net assets without donor restrictions | $2,747,759 |
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 | $4,766,254 |
Over the last fiscal year, Wayne County-Detroit Cde Inc has awarded $58,000 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
Taylor, MI PURPOSE: REAL ESTATE TECHNICAL DEVELOPMENT RESEARCH | $50,000 |
CHARTER TOWNSHIP OF NORTHVILLE PURPOSE: REAL ESTATE TECHNICAL DEVELOPMENT RESEARCH | $8,000 |
Over the last fiscal year, we have identified 1 grants that Wayne County-Detroit Cde Inc has recieved totaling $408,665.
Awarding Organization | Amount |
---|---|
Ilitch Charities Inc Detroit, MI PURPOSE: CHARTER COUNTY OF WAYNE: GRANT GIVEN TO FUND TO RESTORE HISTORIC HAMTRAMCK STADIUM. | $408,665 |
Organization Name | Assets | Revenue |
---|---|---|
Cedar Street Charitable Foundation Inc Milwaukee, WI | $72,743,564 | $36,616,391 |
Neighborhood Progress Inc Cleveland, OH | $14,988,219 | $7,783,828 |
Fund For Our Economic Future Of Northeast Ohio Cleveland, OH | $9,063,861 | $3,744,961 |
Baum Family Foundation Hastings, MI | $10,431,479 | $1,291,317 |
Egbert M Freese Foundation Galion, OH | $9,775,286 | $868,185 |
West Central Development Corporation Perrysburg, OH | $4,806,920 | $1,182,846 |
Thomas P And Sondra D Sheehan Charitable Foundation Fishers, IN | $5,927,664 | $430,035 |
Silver Beach Shadowland Saint Joseph, MI | $1,430,963 | $437,280 |
Wayne County-Detroit Cde Inc Detroit, MI | $4,766,254 | $730,026 |
Joint Economic Development Initiative Of Southern Ohio Jackson, OH | $6,947 | $427,000 |
Community Rewards Services Lexington, OH | $578 | $388,612 |
Harbor Hall Foundation Harbor Springs, MI | $13,613,969 | $2,399,523 |