Detroit Promise Zone

Analysis

Detroit Promise Zone is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in August 2023, 3 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2024, Detroit Promise Zone reported income of $4.5m and spending of $3.2m, leaving 28% of income unspent that year. The sharpest change came in the year to June 2024, when income rose by 83%. Over the whole period it spent 85% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Detroit Promise Zone sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within MI. Charities of a similar size with the same main cause include U S Family Foundation Inc ($4.5m), Zaka Tel Aviv Inc ($4.5m) and Ithuriel Fund ($4.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.7m against liabilities of $0, net assets of $1.7m.