Detroit Regional Chamber Foundation Inc

Analysis

Detroit Regional Chamber Foundation Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in June 1981, 45 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Detroit Regional Chamber Foundation Inc reported income of $12.0m and spending of $13.6m, spending 113% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $8.3m to $12.0m (+45%), an average of +7.7% a year. The sharpest change came in the year to June 2022, when income rose by 87%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Detroit Regional Chamber Foundation Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Core Services Group Inc ($12.0m), Abilities Inc of Florida ($12.0m) and CPLC Nevada Inc ($12.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 89% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $1.2m (8.7% of expenses). Other salaries and wages came to $3.6m. At year end it held assets of $4.2m against liabilities of $525k, net assets of $3.7m.