Banyan Foundation
- Assets
- $112.8k
- Revenue
- $17.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 10/2016
- Data as of
- 12/2021
- EIN
- 81-4086211
Organization Overview
Banyan Foundation is located in Detroit, MI. The organization was established in 2016. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, 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. Banyan 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 12/2021, Banyan Foundation generated $17.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (28.2%) each year. All expenses for the organization totaled $13.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GRANTS FROM BANYAN FOUNDATION ALLOW ENTREPRENEURS TO LAUNCH NEW BUSINESSES OR ASSIST IN STABLIZING OR EXPANDING EXISTING ONES. TO DATE, THESE BUSINESSES HAVE BEEN LOCATED IN THE DETROIT NEIGHBORHOODS AND THE MAJORITY OF THESE HAVE BEEN MINORITY-OWNED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Horn Treasurer | 0 | $0 | |
Mary Lynn Staley Director | 0 | $0 | |
Aamir Farooqi President | 0 | $0 | |
Scott Ord General Manager/secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $5,106 |
| 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 | $17,147 |
| 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 | $2,757 |
| Occupancy | $3,397 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,887 |
| Total operating and administrative expenses | $13,331 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $13,331 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,281 |
| Savings and temporary cash investments | $0 |
| 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 | $535 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $95,584 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $15,417 |
| Total assets | $112,817 |
| 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 | $13,840 |
| Total liabilities | $13,840 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Action Commission Of Fayette County Washington Court House, OH | $10,620,828 | $9,688,038 |
Downtown Cleveland Alliance Cleveland, OH | $4,884,612 | $9,424,862 |
Community Action Inc Of Rock And Walworth Counties Beloit, WI | $10,640,793 | $9,364,558 |
Campus Partners For Community Urban Redevelopment Columbus, OH | $180,909,775 | $6,681,454 |
G M N Tri-County Community Action Committee Inc Caldwell, OH | $4,898,315 | $8,954,404 |
Lakeside Association Lakeside, OH | $18,007,265 | $9,409,090 |
Southwest Michigan Community Action Agency Benton Harbor, MI | $1,305,727 | $8,078,808 |
Impact Seven Incorporated Rice Lake, WI | $149,638,063 | $17,926,158 |
North Central Community Action Program Inc wisconsin rapids, WI | $2,366,497 | $7,790,312 |
Alloy Development Co Inc Cincinnati, OH | $4,726,609 | $7,810,614 |
Neighborhood Development Services Inc Ravenna, OH | $44,837,600 | $8,930,715 |
Community Action Of Southern Indiana Inc Jeffersonville, IN | $1,581,999 | $6,952,233 |