Grandmont Rosedale Development Corporation

Analysis

Grandmont Rosedale Development Corporation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in January 1991, 35 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Grandmont Rosedale Development Corporation reported income of $1.2m and spending of $1.3m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $822k to $1.2m (+52%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 42%. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Grandmont Rosedale Development Corporation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within MI. Charities of a similar size with the same main cause include Ecumenical Partnership for Housing Inc ($1.2m), Levi Towers Inc ($1.2m) and McGregor at Overlook ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $98k (7.2% of expenses). Other salaries and wages came to $305k. At year end it held assets of $2.8m against liabilities of $1.3m, net assets of $1.5m. It reported 12 employees.