Detroit Regional Partnership Foundation
- Assets
- $7.9m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 25
- Location
- Detroit, MI
- Founding
- 06/2019
- Data as of
- 12/2022
- EIN
- 83-1361974
Organization Overview
Detroit Regional Partnership Foundation is located in Detroit, MI. The organization was established in 2019. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Detroit Regional Partnership Foundation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit Regional Partnership 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, Detroit Regional Partnership Foundation generated $8.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $5.5m during the year ending 12/2022. While expenses have increased by 17.5% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE DRPF IS AN ECONOMIC DEVELOPMENT ORGANIZATION. IT SEEKS TO MARKET THE 11-COUNTY SOUTHEAST MICHIGAN REGION TO BOTH DOMESTIC AND GLOBAL INVESTORS WITH THE GOAL OF ATTRACTING NEW BUSINESS, JOB OPPORTUNITIES AND INVESTMENT TO SOUTHEAST MICHIGAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS DEVELOPMENT: IN 2022 THE DRPF'S BUSINESS DEVELOPMENT PROGRAM CLOSED 33 NEW DEALS FOR THE REGION. THOSE WINS DROVE TOTAL REGIONAL ECONOMIC IMPACT OF $4.6B IN INVESTMENT AND CONSTRUCTION OUTPUT, 17,278 JOBS CREATED OR SUPPORTED (OVER 4,900 OF THOSE BEING PATHWAY JOBS), AND AN INCREASE OF OVER $950M IN REGIONAL PAYROLL.
"SEMI ECOSYSTEM: THE SOUTHEAST MICHIGAN ECOSYSTEM IS A CONVENING OF ORGANIZATIONS TO ADDRESS CONCERNS FROM PROSPECTIVE COMPANIES CONSIDERING THE REGION. THESE ORGANIZATIONS WORK TOGETHER TO IMPROVE THE ECONOMIC FOUNDATION OF THE 11-COUNTY SOUTHEAST MICHIGAN REGION AND MAKE OUR REGION A MORE ATTRACTIVE PLACE TO DO BUSINESS. WE ALSO PARTNER WITH MANY ECOSYSTEM PARTICIPANTS TO ATTRACT NEW BUSINESSES TO THE REGION."
SPECIAL PROJECTS: THE DETROIT REGION IS ONE OF THE NATION'S MOST INNOVATIVE METRO AREAS. IT ALSO POSSESSES THE GREATEST CONCENTRATION OF MOBILITY ASSETS AND CONTINUES TO BE OUR NATION'S BEST BET TO ACCELERATE ECONOMIC PROSPERITY AND GROWTH FOR BOTH MICHIGAN AND THE UNITED STATES. THE DRPF LED A COALITION OF REGIONAL PARTNERS AND SUCCESSFULLY MADE THAT CASE TO THE US ECONOMIC DEVELOPMENT ADMINISTRATION AS PART OF ITS BUILD BACK BETTER REGIONAL CHALLENGE (BBBRC). TOGETHER, THE DRPF-LED COALITION SECURED A PHASE 1 PLANNING GRANT, AS WELL AS A SIGNIFICANT PHASE 2 GRANT FOR THE GLOBAL EPICENTER OF MOBILITY (GEM) INITIATIVE. THIS INITIATIVE WILL INVEST IN CREATING A SMART, SECURE, SUSTAINABLE AND INCLUSIVE ADVANCED MOBILITY INDUSTRY IN THE DETROIT REGION. THROUGHOUT 2022 PHASE 1 ACTIVITIES INCLUDED EXECUTION OF A MOBILITY ECOSYSTEM BASELINE STUDY, ACCELERATION OF VIPBY DRP SITE READINESS WORK AND DEVELOPMENT OF THE PROGRAM INFRASTRUCTURE NECESSARY TO LAUNCH PHASE 2 EFFORTS.
MARKETING: THE DRPF'S MARKETING PROGRAM SHARES THE REGION'S STORY ACROSS VIDEO, DIGITAL, AND SOCIAL MEDIA PLATFORMS THROUGHOUT THE YEAR. IT CONTINUES TO PROMOTE THE DETROIT REGION AS A WORLD-CLASS BUSINESS LOCATION, GENERATE AWARENESS WITH ECONOMIC DEVELOPMENT PROSPECTS AND LEVERAGE PARTNERS, STAKEHOLDERS AND ADVOCATES TO SHARE KEY INFORMATION AND MESSAGING ABOUT THE REGION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerry Anderson Chairman | OfficerTrustee | 1 | $0 |
Sandy Baruah Director | Trustee | 1 | $0 |
Matt Cullen Director | Trustee | 1 | $0 |
David Coulter Director | Trustee | 1 | $0 |
Mike Duggan Director | Trustee | 1 | $0 |
Warren Evans Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Innovative Edit Marketing And Web Development | 12/30/22 | $280,699 |
Ernst & Young Llp Project Implementation Strategic Consult | 12/30/22 | $249,455 |
Whim Detroit Llc It Support Services | 12/30/22 | $117,406 |
Aecom Technical Services Regional Ev Charging Station Analysis | 12/30/22 | $117,057 |
Mort Crim Communications Marketing Strategy & Support | 12/30/22 | $116,695 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $881,944 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,255,520 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,137,464 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $8,149,982 |
| 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. | $835,339 |
| Compensation of current officers, directors, key employees. | $265,930 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,636,430 |
| Pension plan accruals and contributions | $190,391 |
| Other employee benefits | $133,474 |
| Payroll taxes | $165,146 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,928 |
| Fees for services: Accounting | $98,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,408,615 |
| Advertising and promotion | $0 |
| Office expenses | $140,853 |
| Information technology | $215,988 |
| Royalties | $0 |
| Occupancy | $162,774 |
| Travel | $143,841 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $443 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,283 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,538,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,648,651 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,684,041 |
| 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 | $137,995 |
| Net Land, buildings, and equipment | $69,374 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $346,799 |
| Total assets | $7,886,860 |
| Accounts payable and accrued expenses | $807,559 |
| 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 | $241,860 |
| Total liabilities | $1,049,419 |
| Net assets without donor restrictions | $2,699,216 |
| Net assets with donor restrictions | $4,138,225 |
| 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 | $7,886,860 |