Keep Growing Detroit

Analysis

Keep Growing Detroit is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in September 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, Keep Growing Detroit reported income of $1.8m and spending of $1.4m, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $740k to $1.8m (+145%), an average of +25% a year. The sharpest change came in the year to December 2021, when income rose by 178%. Over the whole period it spent 73% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Keep Growing Detroit sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within MI. Charities of a similar size with the same main cause include Wind River Development Fund ($1.8m), North Dakota Rural Water Systems Association Inc ($1.8m) and Western Colorado Business Development Corp ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 9.0% of the total. Compensation of current officers, directors and key employees was $187k (13% of expenses). Other salaries and wages came to $494k. At year end it held assets of $2.5m against liabilities of $32k, net assets of $2.5m. It reported 17 employees.