Midtown Detroit Inc

Analysis

Midtown Detroit Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in July 2014, 12 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, Midtown Detroit Inc reported income of $8.7m and spending of $5.9m, leaving 32% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.9m to $8.7m (+48%), an average of +10% a year. The sharpest change came in the year to December 2023, when income rose by 34%. 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, Midtown Detroit Inc 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 Center for People in Need Inc ($8.7m), South Central Workforce Development Council ($8.7m) and Coastal Enterprises of Jacksonville Inc ($8.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 107% and program service revenue 3.9% of the total. Other salaries and wages came to $630k. At year end it held assets of $12.8m against liabilities of $5.5m, net assets of $7.3m. It reported 6 employees.