Detroit Hispanic Development Corporation

Analysis

Detroit Hispanic Development Corporation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in October 1997, 29 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 September 2023, Detroit Hispanic Development Corporation reported income of $3.3m and spending of $3.7m, spending 112% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.1m to $3.3m (+56%), an average of +12% a year. The sharpest change came in the year to September 2020, when income rose by 71%. 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 Hispanic Development Corporation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within MI. Charities of a similar size with the same main cause include Denver Childrens Advocacy Center ($3.3m), Nc3-National Coalition of Certification Centers Inc ($3.3m) and Piping Industry Training Center Trust Fund ($3.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 99% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $109k (3.0% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $2.1m against liabilities of $761k, net assets of $1.3m. It reported 65 employees.