Detroit Future City

Analysis

Detroit Future City is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in November 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 (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, Detroit Future City reported income of $876k and spending of $2.9m, spending 336% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.4m to $876k (-64%), an average of -23% a year. The sharpest change came in the year to December 2023, when income dropped by 66%. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Detroit Future City sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within MI. Charities of a similar size with the same main cause include Community Action Development Corp of the Lehigh Valley ($873k), Don Ryan Center for Innovation Inc ($876k) and Aspen Adult Services ($873k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 7.0% of the total. Compensation of current officers, directors and key employees was $502k (17% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $1.6m against liabilities of $160k, net assets of $1.4m. It reported 18 employees.