Detriot Economic Growth Association

Analysis

Detriot Economic Growth Association is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in November 1982, 44 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 (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, Detriot Economic Growth Association reported income of $4.3m and spending of $4.4m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.9m to $4.3m (-27%), an average of -7.6% a year. The sharpest change came in the year to June 2021, when income rose by 278%. 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, Detriot Economic Growth Association sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within MI. Charities of a similar size with the same main cause include Black River Industries Inc ($4.3m), Rooftop of Virginia Cap ($4.3m) and Region 10 Workford Board Inc ($4.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.4% of the total. At year end it held assets of $6.7m against liabilities of $603k, net assets of $6.1m.