360 Detroit

Analysis

360 Detroit is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in September 2015, 11 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, 360 Detroit reported income of $1.1m and spending of $458k, leaving 57% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $208k to $1.1m (+408%), an average of +50% a year. The sharpest change came in the year to December 2021, when income rose by 133%. Over the whole period it spent 50% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, 360 Detroit sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within MI. Charities of a similar size with the same main cause include Randolph Area Community Development Corporation ($1.1m), WV Hive Network Inc ($1.1m) and Lincoln Park Coast Cultural District Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.1% of the total. At year end it held assets of $1.7m against liabilities of $227k, net assets of $1.5m.