Overview
What is Invest Detroit Foundation?
Invest Detroit Foundation, also known as IDF, is a Detroit-based nonprofit organization dedicated to revitalizing and developing the economy through real estate and small business financing. With a team of 48 employees, IDF provides loans, primarily in the form of funding, to eligible applicants, fostering urban renewal and development. Beyond lending, IDF engages in programming activities aimed at spearheading and creating strategies for urban revitalization, enhancing the living conditions in distressed communities, mainly in Detroit. IDF's mission focuses on attracting new industry, encouraging business growth, and providing essential community resources like housing, transportation, and more.
Official website here: www.investdetroit.com
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 97% (Four-Star out of Four Star rating)
Invest Detroit Foundation has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The foundation's score is based entirely on its accountability and finance metrics, showcasing a commitment to responsible management and transparency. With a perfect score in several categories, including independent board members and financial oversight, the organization demonstrates a robust governance structure.
The foundation excels in maintaining low liabilities relative to its assets and allocating a significant portion of its expenses towards programs. This indicates that Invest Detroit Foundation effectively prioritizes its mission over administrative costs. Additionally, the strong working capital ratio suggests the organization is well-positioned to sustain its activities and respond to future challenges.
However, it's worth noting that the foundation received a score of zero for fundraising efficiency, which may imply that its fundraising efforts are not as effective as desired. This could be an area for potential improvement, ensuring that the organization can maximize the funds raised to further support its initiatives. Overall, the foundation's solid financial practices and governance are commendable, though addressing fundraising efficiency could enhance its overall impact.
This AI summary has been generated from information found on Charity Navigator.
Is Invest Detroit Foundation legitimate?
Invest Detroit Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Invest Detroit Foundation 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: $324,907
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,302,160
For more financial information, click here
Official website here: www.investdetroit.com
What is the mission statement of Invest Detroit Foundation?
The Invest Detroit Foundation focuses on revitalizing distressed communities primarily through attracting new industries and encouraging business development. They accomplish this by providing loans and financial assistance to promote community development and combat deterioration and economic blight. In addition to their loan programs, the foundation engages in strategic activities to spearhead and develop plans for urban revitalization. The ultimate goal is to enhance the quality of life for communities by promoting the development of housing, transportation, and other essential resources.
Official website here: www.investdetroit.com
Who is the CEO of Invest Detroit Foundation?
David Blaszkiewicz is the Chairman of Invest Detroit Foundation. The CEO's salary of Invest Detroit Foundation is $429,390 and their total compensation is $473,938.
Official website here: www.investdetroit.com
What is the revenue of Invest Detroit Foundation?
Invest Detroit Foundation's revenue in 2022 was $24,220,233.
Official website here: www.investdetroit.com
Who are the executives of Invest Detroit Foundation and what are their salaries?
The average compensation at Invest Detroit Foundation during 2022 was $138,064. There are 48 employees and 16 volunteers at Invest Detroit Foundation.
Here are 24 key members and their salaries (Invest Detroit Foundation's CEO's salary is $429,390 and their total compensation is $473,938):
- 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: $0
- Other: $0
- 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: $0
- Other: $0
- 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: $0
- Other: $0
- Compensation: $429,390
- Related: $0
- Other: $44,548
- Compensation: $263,277
- Related: $0
- Other: $25,886
- Compensation: $149,992
- Related: $0
- Other: $15,263
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $263,117
- Related: $0
- Other: $36,353
- Compensation: $261,493
- Related: $0
- Other: $35,621
- Compensation: $202,675
- Related: $0
- Other: $33,857
- Compensation: $222,315
- Related: $0
- Other: $34,573
- Compensation: $188,373
- Related: $0
- Other: $11,425
Official website here: www.investdetroit.com
Where can I find the form 990 for Invest Detroit Foundation?
Invest Detroit Foundation's most recent form 990 was submitted in 2022 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 Foundation
Invest Detroit Foundation, a nonprofit organization, strives to enhance the living standards of distressed communities primarily in Detroit. Through its loan programs, IDF extends funding, predominantly in the form of loans, to eligible applicants, encouraging urban revitalization. In parallel to its lending initiatives, IDF engages in programmatic activities that entail planning, initiating, and developing strategies for community development.
By attracting new industries, IDF promotes the growth of businesses, housing, transportation, and other essential community resources. The foundation's financial assistance plays a significant role in combating community deterioration and economic blight. IDF's mission is to provide loans and support the development of Detroit's communities, fostering a higher quality of life for its residents. The organization's efforts are aimed at revitalizing urban areas and fostering sustainable growth, ultimately contributing to the overall improvement of the communities it serves.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Invest Detroit Foundation has a significant impact on revitalizing and developing distressed communities, primarily in Detroit. Through its loan programs, it provides essential funding to qualified applicants, enabling real estate projects and small business ventures that contribute to economic growth and urban renewal.
By supporting these initiatives, Invest Detroit Foundation plays a key role in attracting new industries and fostering the development of vital resources such as housing, transportation, and community infrastructure. Its programmatic activities go beyond financing; the organization actively plans and develops strategies that encourage long-term improvement in community quality of life. This multifaceted approach helps combat economic blight and community deterioration, promoting a healthier, more vibrant city for its residents.
This information is meant to be a general summary of Invest Detroit Foundation. 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.
- Investment Income: $327,653
- Program Service Revenue: $4,917,481
- Gross Receipts: $24,220,233
Assets and Liabilities:
- Total Assets: $161,002,008
- Total Liabilities: $39,891,952
- Net Assets: $121,110,056
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$2,564,281
ADMINISTRATIVE FEES
Revenue
$1,886,610
LOAN TRANSACTION FEES
Revenue
$466,590
Organization Details
Founding Year
2010
Phone
(313) 259-6368Principal Officer
David Blaszkiewicz
Main Address
600 RENAISSANCE CENTER 1710, DETROIT, MI, 48243
Website
www.investdetroit.comNTEE Category
Code: S30 - Community improvement
If you are a representative of Invest Detroit Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.