Detroit Employment Solutions Corporation

Analysis

Detroit Employment Solutions Corporation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in November 2019, 7 years ago. Its declared purposes cover employment, 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, Detroit Employment Solutions Corporation reported income of $77.2m and spending of $76.6m, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $59.0m to $77.2m (+31%), an average of +9.4% a year. The sharpest change came in the year to June 2021, when income rose by 26%. 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 Employment Solutions Corporation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MI. Charities of a similar size with the same main cause include Goodwill Foundation of Middle TN ($76.8m), The Community Preservation Corporation ($77.9m) and International Financial Reporting Standards Foundation ($76.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $1.1m (1.4% of expenses). Other salaries and wages came to $13.2m. At year end it held assets of $26.5m against liabilities of $14.1m, net assets of $12.4m. It reported 616 employees.