New Detroit Inc

Analysis

New Detroit Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in August 1968, 58 years ago. 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, New Detroit Inc reported income of $796k and spending of $1.3m, spending 163% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $796k (-28%), an average of -8.0% a year. The sharpest change came in the year to December 2023, when income dropped by 43%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Detroit Inc 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 77th percentile, and in the 77th percentile within MI. Charities of a similar size with the same main cause include Impactphl ($796k), Monteverde School Inc ($796k) and Producers Associates ($796k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 4.3% of the total. Compensation of current officers, directors and key employees was $359k (28% of expenses). Other salaries and wages came to $232k. At year end it held assets of $1.1m against liabilities of $87k, net assets of $1.1m. It reported 5 employees.