Wayne State Univ Research & Techno- Logy Park in the City of Detroit

Analysis

Wayne State Univ Research & Techno- Logy Park in the City of Detroit is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in December 2002, 24 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wayne State Univ Research & Techno- Logy Park in the City of Detroit reported income of $6.8m and spending of $11.8m, spending 174% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.5m to $6.8m (+95%), an average of +18% a year. The sharpest change came in the year to December 2022, when income rose by 76%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Wayne State Univ Research & Techno- Logy Park in the City of Detroit sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within MI. Charities of a similar size with the same main cause include Metro Southwest Workforce Board Inc ($6.8m), Lbu Holdings Inc ($6.8m) and National Accrediting Commission of Career Arts & Sciences Inc ($6.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $417k (3.5% of expenses). Other salaries and wages came to $3.6m. At year end it held assets of $26.0m against liabilities of $2.3m, net assets of $23.7m. It reported 79 employees.