Metropolitan Detroit Research and Education Foundation

Analysis

Metropolitan Detroit Research and Education Foundation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in February 1993, 33 years ago. 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 December 2023, Metropolitan Detroit Research and Education Foundation reported income of $77k and spending of $189k, spending 245% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $43k to $77k (+81%), an average of +16% a year. The sharpest change came in the year to December 2020, when income rose by 693%. Over the whole period it spent 142% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Metropolitan Detroit Research and Education Foundation sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 30th percentile within MI. Charities of a similar size with the same main cause include Study Zone of South Florida Inc ($77k), Lincoln Friends of Chamber Music Inc ($77k) and Essex County Legal Aid Association ($77k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 30% of the total. Other salaries and wages came to $150k. At year end it held assets of $54k against liabilities of $9,179, net assets of $45k. It reported 2 employees.

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.