Detroit Regional Partnership
- Assets
- $2.4m
- Revenue
- $438.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 03/2019
- Data as of
- 12/2021
- EIN
- 83-1370004
Organization Overview
Detroit Regional Partnership 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit Regional Partnership is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Detroit Regional Partnership generated $438.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (47.2%) each year. All expenses for the organization totaled $20.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (76.3%) per year over the past 3 years. 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
THE DRP 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
MARKETING: DEVELOPMENT COUNSELORS INTERNATIONAL WAS ENGAGED TO CONDUCT A REGIONAL PERCEPTION STUDY OF KEY STAKEHOLDERS TO SUPPORT THE DEVELOPMENT OF A COHESIVE AND AGRESSIVE MARKETING STRATEGY FOR THE 11-COUNTY REGION.
BUSINESS DEVELOPMENT: THE MEDC FUNDED REGIONAL ECONOMIC DEVELOPMENT THROUGH A GRANT TO SUPPORT PROJECTS IN 2021, INCLUDING MI CAREER QUEST, ATTRACTION AND EXPANSION, AND THE WAYNE COUNTY BUSINESS NETWORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerry Anderson Chairman | OfficerTrustee | 1 | $0 |
Tesia Mamassian Secretary | Officer | 1 | $0 |
Maureen Krauss President | Officer | 1 | $0 |
Dave Meador Treasurer | Officer | 1 | $0 |
Matt Cullen Director | Trustee | 1 | $0 |
Sandy Baruah Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $425,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $435,000 |
| Total Program Service Revenue | $0 |
| Investment income | $3,267 |
| 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 | $438,267 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| 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 | $20,000 |
| Total functional expenses | $20,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,359,932 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $40,199 |
| 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 | $2,400,131 |
| 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 | $2,400,131 |
| 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 | $2,400,131 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Detroit Regional Partnership has recieved totaling $200,000.
| Awarding Organization | Amount |
|---|---|
William Beaumont Hospital Southfield, MI PURPOSE: PRIVATE CONTRIBUTION | $100,000 |
Comerica Charitable Foundation Detroit, MI PURPOSE: DETROIT REGIONAL PARTNERSHIP'S TALENT SOLUTION'S COSTS ASSOCIATED WITH COVID-19 RELIEF | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Detroit Convention & Vistors Bureau Detroit, MI | $36,765,048 | $14,015,809 |
Detroit Economic Growth Corp Detroit, MI | $7,209,211 | $10,420,774 |
Lawrence Economic Development Corporation South Point, OH | $62,339,240 | $9,945,474 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Southwest Michigan First Corporation Kalamazoo, MI | $10,945,070 | $8,560,798 |
Wenonah Park Properties Inc Bay City, MI | $22,411,152 | $7,079,713 |
Applied Research Institute Bloomington, IN | $3,329,526 | $9,074,163 |
Grand Rapids-Kent Cty Convention Center & Vistors Bureau Grand Rapids, MI | $10,130,209 | $9,465,987 |
Elevate Ventures Inc Indianapolis, IN | $13,635,821 | $6,541,390 |
Team Neo Foundation Cleveland, OH | $2,982,756 | $6,381,649 |
Greater Cincinnati Convention & Visitors Bureau Inc Cincinnati, OH | $12,063,911 | $8,787,781 |
Wayne State Univ Research & Techno- Logy Park In The City Of Detroit Detroit, MI | $24,221,060 | $8,978,851 |