Detroit Belle Isle Grand Prix Inc

Analysis

Detroit Belle Isle Grand Prix Inc is a registered charity in United States, based in Bloomfld HLS, MI. It received its IRS tax-exemption ruling in August 2007, 19 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Detroit Belle Isle Grand Prix Inc reported income of $22.8m and spending of $22.9m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $15.7m to $22.8m (+45%), an average of +9.8% a year. The sharpest change came in the year to December 2021, when income rose by 695%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Detroit Belle Isle Grand Prix Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MI. Charities of a similar size with the same main cause include Benson House Inc ($22.7m), Cara Program ($22.8m) and Northwest Tennessee Economic Development Council ($22.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 39% of the total. At year end it held assets of $3.4m against liabilities of $5.1m, net assets of -$1.7m.