Foundation for Detroits Future

Analysis

Foundation for Detroits Future is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in March 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Foundation for Detroits Future reported income of $17.5m and spending of $18.9m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $21.7m to $17.5m (-19%), an average of -5.3% a year. The sharpest change came in the year to December 2022, when income dropped by 37%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Foundation for Detroits Future sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MI. Charities of a similar size with the same main cause include Greater Northwest Kansas Community Foundation ($17.5m), Wtia Workforce Institute ($17.5m) and Pennsylvania Microenterprise Coalition ($17.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. At year end it held assets of $44.2m against liabilities of $42k, net assets of $44.2m.