Overview
What is Invest Detroit Cde?
Invest Detroit Cde is a nonprofit organization that serves low-income communities and individuals in Detroit, adhering to the guidelines of the New Market Tax Credit (NMTC) program. Their primary objective is to offer loans and equity investment capital, aiming to improve the economic conditions of underprivileged areas and people. To maintain its Community Development Entity (CDE) status and ensure accountability, Invest Detroit Cde appoints a board of directors who represent the low-income communities they serve. Their initiatives include allocating NMTC funds to eligible projects, thereby contributing to the revitalization and growth of Detroit's low-income communities.
Official website here: www.investdetroit.com
Is Invest Detroit Cde legitimate?
Invest Detroit Cde is a legitimate nonprofit organization registered as a 501(c)(4) entity. Invest Detroit Cde 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: $543,717
For more financial information, click here
Official website here: www.investdetroit.com
What is the mission statement of Invest Detroit Cde?
Invest Detroit CDE's mission is centered around serving or providing investment capital in the form of loans or equity to low-income communities or individuals. This organization adheres to the requirements of the New Market Tax Credit (NMTC) program. The primary goal of Invest Detroit CDE is to qualify and maintain its qualification as a Community Development Entity. Additionally, the organization ensures accountability to residents of low-income communities by appointing a board of directors that represents these communities.
Official website here: www.investdetroit.com
Who is the CEO of Invest Detroit Cde?
David Blaszkiewicz is the CEO of Invest Detroit Cde The CEO's salary of Invest Detroit Cde is $0 and their total compensation is $660,076.
Official website here: www.investdetroit.com
What is the revenue of Invest Detroit Cde?
Invest Detroit Cde's revenue in 2023 was $1,142,564.
Official website here: www.investdetroit.com
Who are the executives of Invest Detroit Cde and what are their salaries?
There 5 volunteers at Invest Detroit Cde.
Here are 7 key members and their salaries (Invest Detroit Cde's CEO's salary is $0 and their total compensation is $660,076):
- Compensation: $0
- Related: $469,155
- Other: $190,921
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $285,479
- Other: $38,899
- Compensation: $0
- Related: $286,238
- Other: $26,807
Official website here: www.investdetroit.com
Where can I find the form 990 for Invest Detroit Cde?
Invest Detroit Cde's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.investdetroit.com
Learn more at the official website: www.investdetroit.com
Mission Statement of Invest Detroit Cde
Invest Detroit CDE, in its mission, aims to provide loan or equity investment capital to low-income communities or individuals within the city of Detroit. This is done in accordance with the New Market Tax Credit (NMTC) program requirements. The organization's primary goal is to serve these communities and individuals, and in doing so, it takes necessary steps to maintain its qualification as a Community Development Entity. To ensure accountability, Invest Detroit CDE appoints a board of directors comprising individuals who represent low-income communities. This board plays a crucial role in overseeing the organization's activities, ensuring that they align with the needs and interests of the communities they serve.
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Impact
October, 2024
Invest Detroit CDE is dedicated to strengthening low-income communities in Detroit by providing essential loans and equity investment capital. Operating under the New Market Tax Credit (NMTC) program, it specifically targets opportunities that bolster community development and economic growth. By channeling resources into qualified projects, Invest Detroit CDE enhances access to capital for underserved neighborhoods, promoting sustainable development and revitalization within these areas.
Its mission focuses on accountability and representation, as the organization ensures that its board of directors includes individuals from low-income communities. This governance structure fosters transparency and responsiveness to community needs. Through its efforts, Invest Detroit CDE plays a crucial role in improving the quality of life for residents, empowering local populations, and fostering economic resilience in Detroit’s low-income areas.
This information is meant to be a general summary of Invest Detroit Cde. 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 2023.
- Investment Income: $31,247
- Program Service Revenue: $1,061,864
- Gross Receipts: $1,142,564
Assets and Liabilities:
- Total Assets: $4,395,199
- Total Liabilities: $71,598
- Net Assets: $4,323,601
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMPLIANCE FEE INCOME
Revenue
$798,750
ASSET MANAGEMENT FEE
Revenue
$192,822
AUDIT AND TAX FEE REVE
Revenue
$70,292
Organization Details
Founding Year
2009
Principal Officer
David Blaszkiewicz
Website
www.investdetroit.comNTEE Category
Code: S31 - Community improvement
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