Overview
What is Detroit Belle Isle Grand Prix Inc?
Detroit Belle Isle Grand Prix Inc is a nonprofit organization located in Bloomfield Hills, Michigan, at 2555 Telegraph Road, with a mission to revitalize economically depressed areas of Detroit city. They accomplish this by organizing motor vehicle racing events. By doing so, they aim to raise funds for the preservation and enhancement of Belle Isle Park.
Official website here: www.detroitgp.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 57% (One-Star out of Four Stars)
Detroit Belle Isle Grand Prix Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The score reflects a lack of independent board size, which is crucial for governance and oversight. While the organization excels in its material diversion of assets and program expense ratio, there are notable weaknesses in its whistleblower policy, document retention, and board meeting minute documentation.
Strengths of the organization include a fully independent board and effective financial oversight mechanisms, as evidenced by the audit committee's performance and their handling of loans. Additionally, the organization's fundraising efficiency and program expenses are commendably managed, showcasing a focused approach to its mission-related activities. However, the shortcomings in governance practices could undermine trust and transparency.
Overall, while the Detroit Belle Isle Grand Prix Inc demonstrates effectiveness in certain financial metrics, the areas where it has fallen short highlight a need for improvement in governance practices. This could impact donor confidence and the organization's long-term viability. Enhanced accountability measures would be crucial for building a stronger foundation moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Detroit Belle Isle Grand Prix Inc legitimate?
Detroit Belle Isle Grand Prix Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Detroit Belle Isle Grand Prix Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.detroitgp.com
What is the mission statement of Detroit Belle Isle Grand Prix Inc?
Detroit Belle Isle Grand Prix Inc strives to breathe new life into economically struggling areas of the city by organizing motor vehicle racing events. This non-profit organization is committed to raising funds with the ultimate goal of preserving and enhancing a significant urban green space. Through the thrill and excitement of racing, Detroit Belle Isle Grand Prix Inc brings people together and contributes to the community's revitalization. The proceeds generated from these events are dedicated to enhancing the park for the enjoyment of visitors and residents alike.
Official website here: www.detroitgp.com
Who is the CEO of Detroit Belle Isle Grand Prix Inc?
Claude Denker is the Principal Officer of Detroit Belle Isle Grand Prix Inc.
Official website here: www.detroitgp.com
What is the revenue of Detroit Belle Isle Grand Prix Inc?
Detroit Belle Isle Grand Prix Inc's revenue in 2022 was $14,762,535.
Official website here: www.detroitgp.com
Who are the executives of Detroit Belle Isle Grand Prix Inc and what are their salaries?
There 1000 volunteers at Detroit Belle Isle Grand Prix Inc.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $482,610
- Other: $38,026
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.detroitgp.com
Where can I find the form 990 for Detroit Belle Isle Grand Prix Inc?
Detroit Belle Isle Grand Prix Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.detroitgp.com
Learn more at the official website: www.detroitgp.com
Mission Statement of Detroit Belle Isle Grand Prix Inc
Detroit Belle Isle Grand Prix Inc is a nonprofit organization with a mission to revitalize economically depressed areas of the city by hosting motor vehicle racing events. This dynamic group is dedicated to two primary objectives: promoting the rejuvenation of Detroit's urban landscape and raising funds for the preservation and enhancement of Belle Isle Park.
By organizing thrilling motor vehicle racing events, Detroit Belle Isle Grand Prix Inc serves multiple purposes. Firstly, it injects energy and excitement into economically depressed areas of the city, drawing crowds and generating buzz. Secondly, the revenue generated from these events is channeled towards the preservation and improvement of Belle Isle Park, ensuring it remains a cherished green space for the community.
Detroit Belle Isle Grand Prix Inc's commitment to revitalizing Detroit is not only limited to hosting races. This forward-thinking organization recognizes the potential of these events to bring people together and foster a sense of unity within the city. By attracting racers, spectators, and sponsors from near and far, the organization is helping to put Detroit back on the map as a vibrant, culturally rich destination.
In summary, Detroit Belle Isle Grand Prix Inc is a visionary nonprofit that is making a significant impact on the city of Detroit. Through its motor vehicle racing events, it is not only revitalizing economically depressed areas but also raising essential funds for the preservation and improvement of Belle Isle Park. This dual mission is a testament to the organization's dedication to enhancing the quality of life for Detroit residents.
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Impact
October, 2024
The Detroit Belle Isle Grand Prix Inc plays a significant role in revitalizing economically depressed areas of Detroit by hosting prominent motor vehicle racing events. These events not only attract visitors and motorsport enthusiasts from across the region, fostering increased tourism, but also serve as a platform for fundraising efforts aimed at preserving and enhancing Belle Isle Park. The Grand Prix's activities contribute to economic growth by stimulating local businesses, promoting community engagement, and providing a vibrant atmosphere that showcases the city's potential. Through its efforts, the organization bolsters community improvement initiatives and enhances the overall quality of life for residents in the area.
This information is meant to be a general summary of Detroit Belle Isle Grand Prix Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $7,513,949
- Gross Receipts: $15,439,821
Assets and Liabilities:
- Total Assets: $4,637,183
- Total Liabilities: $6,239,329
- Net Assets: -$1,602,146
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOSPITALITY
Revenue
$4,739,205
TICKET SALES
Revenue
$1,227,051
MISCELLANEOUS
Revenue
$815,849
CONCESSIONS
Revenue
$567,144
TEAM MOTORCOACH SPACE
Revenue
$164,700
Organization Details
Founding Year
2006
Phone
(248) 648-2457Principal Officer
Claude Denker
Main Address
2555 TELEGRAPH ROAD, BLOOMFIELD HILLS, MI, 483020954
Website
www.detroitgp.comNTEE Category
Code: S990 - Community improvement
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