Connect Detroit

Analysis

Connect Detroit is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in February 2001, 25 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 December 2023, Connect Detroit reported income of $8.7m and spending of $9.1m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.2m to $8.7m (+20%), an average of +4.6% a year. The sharpest change came in the year to December 2022, when income rose by 40%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Connect Detroit sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within MI. Charities of a similar size with the same main cause include Maryland Rural Development Corporation ($8.6m), Coastal Enterprises of Jacksonville Inc ($8.7m) and Fifth Avenue Association Business Improvement District Inc ($8.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $441k (4.8% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $1.3m against liabilities of $45k, net assets of $1.2m. It reported 29 employees.