Southwest Detroit Business Association Inc

Analysis

Southwest Detroit Business Association Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in May 1981, 45 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Southwest Detroit Business Association Inc reported income of $1.4m and spending of $1.8m, spending 128% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.8m to $1.4m (-24%), an average of -6.6% a year. The sharpest change came in the year to June 2020, when income dropped by 39%. Over the whole period it spent 121% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southwest Detroit Business Association Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within MI. Charities of a similar size with the same main cause include Bolton Hill Nursery Inc ($1.4m), Chesterfield Academy Christian School Inc ($1.4m) and The Moaa Foundation ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 25% of the total. Other salaries and wages came to $438k. At year end it held assets of $4.6m against liabilities of $3.4m, net assets of $1.1m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.