Grand7detroit

Analysis

Grand7detroit is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in April 2016, 10 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, Grand7detroit reported income of $110k and spending of $117k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $131k to $110k (-16%), an average of -4.3% a year. The sharpest change came in the year to December 2021, when income dropped by 53%. 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, Grand7detroit sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 39th percentile within MI. Charities of a similar size with the same main cause include Perry County Economic Development Board Inc ($110k), The Society of Women Engineers ($110k) and CRN Foundation ($109k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.9% and program service revenue 96% of the total. At year end it held assets of $1.2m against liabilities of $688k, net assets of $508k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.