Overview
What is Southwest Detroit Business Associat?
Since its establishment in 1957, the Southwest Detroit Business Associat has actively collaborated with various stakeholders to leverage Southwest Detroit's competitive edge. The organization's primary focus is to support local investors, entrepreneurs, and businesses, while simultaneously fostering economic growth and strengthening the community. Notably, they have initiated projects, such as the MexicanTown Community Development Corporation, to revitalize and develop Bagley Avenue, leading to the creation of a thriving cultural business district. To further enrich member businesses, the Southwest Detroit Business Associat has revamped and enhanced its membership application program, offering valuable perks like group discounts, bilingual workshops, and networking events on a monthly basis. By nurturing 142 businesses and providing opportunities for real estate development within the business district, the organization has contributed significantly to the economic vitality of Southwest Detroit.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
The Southwest Detroit Business Association has received a Three-Star rating from Charity Navigator, indicating a decent level of operational effectiveness and transparency. The organization scores well in several key areas, including a perfect score for having an entirely independent board and a strong financial oversight framework. These factors contribute to its responsibilities in maintaining accountability and providing a clear structure for governance.
Strengths of the organization include a solid program expense ratio of 76.39%, which suggests that a significant portion of its expenditures directly supports its mission. Additionally, the absence of material diversion of assets and the presence of comprehensive policies regarding conflict of interest and whistleblower protections highlight the organization's commitment to ethical practices and accountability.
However, the organization did receive a lower score in the liabilities to assets ratio, scoring only 0 out of 15 points in this area. This may suggest potential financial vulnerabilities that could impact its long-term sustainability. Overall, while the organization demonstrates strong governance and programmatic effectiveness, attention to its financial health is advisable.
This AI summary has been generated from information found on Charity Navigator.
Is Southwest Detroit Business Associat legitimate?
Southwest Detroit Business Associat is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southwest Detroit Business Associat 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: $391,195
For more financial information, click here
What is the mission statement of Southwest Detroit Business Associat?
The Southwest Detroit Business Associat's mission is centered around facilitating and enhancing economic development in its respective region. Over the years, it has collaborated with various stakeholders, including investors, entrepreneurs, customers, and neighbors, to leverage the area's competitive advantages. The organization has a particular focus on supporting ethnic and minority-owned businesses, with the aim of stimulating economic growth and fostering a healthy, vibrant neighborhood.
One of its notable initiatives is the establishment of the Mexicantown Community Development Corporation, which was instrumental in revitalizing and redeveloping a business district, transforming it into a cultural hub. The Southwest Detroit Business Associat has also improved its membership program, offering added value to member businesses through group discounts, bilingual workshops, and regular networking events. Furthermore, the organization has identified and cultivated potential business opportunities for 142 businesses within the business district.
Who is the CEO of Southwest Detroit Business Associat?
Laura Chavez-Wazeerud-Din is the Director of Southwest Detroit Business Associat.
What is the revenue of Southwest Detroit Business Associat?
Southwest Detroit Business Associat's revenue in 2022 was $1,257,069.
Who are the executives of Southwest Detroit Business Associat and what are their salaries?
The average compensation at Southwest Detroit Business Associat during 2022 was $32,600. There are 12 employees at Southwest Detroit Business Associat.
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Where can I find the form 990 for Southwest Detroit Business Associat?
Southwest Detroit Business Associat's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Southwest Detroit Business Associat
The Southwest Detroit Business Associat, established in 1957, is dedicated to facilitating and enhancing economic development in the Southwest Detroit area. This nonprofit organization works collaboratively with investors, entrepreneurs, customers, and neighbors to leverage the competitive advantages of the region. By doing so, the Southwest Detroit Business Associat aims to advance ethnic and minority-owned businesses, stimulate economic growth, and foster a healthy and vibrant neighborhood.
One of the significant initiatives undertaken by the Southwest Detroit Business Associat is the MexicanTown Community Development Corporation. This subsidiary organization was established to revitalize and redevelop Bagley Avenue, ultimately resulting in a thriving cultural business district. Additionally, the Southwest Detroit Business Associat has relaunched and enhanced its membership application program. This program provides added value to member businesses, offering advantages such as group discounts, bilingual workshops, and regular networking events. Moreover, the organization has cultivated opportunities for 142 businesses within the business district.
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Impact
July, 2024
The Southwest Detroit Business Association's impact is significant in facilitating the continuation and enhancement of economic development in Southwest Detroit. Since 1957, SDBA has collaborated with investors, entrepreneurs, customers, and neighbors to leverage the competitive advantage of Southwest Detroit, promote ethnic and minority-owned businesses, stimulate economic growth, and cultivate a healthy, vibrant community. Through initiatives such as establishing the Mexicantown Community Development Corporation to revitalize Bagley Avenue into a cultural business district and providing valuable resources like real estate opportunities and membership benefits, SDBA has played a crucial role in fostering economic prosperity and community improvement in the city of Detroit, Michigan.
This information is meant to be a general summary of Southwest Detroit Business Associat. 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: -$3,484
- Program Service Revenue: $262,151
- Gross Receipts: $1,257,069
Assets and Liabilities:
- Total Assets: $4,507,856
- Total Liabilities: $2,970,693
- Net Assets: $1,537,163
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE
Revenue
$220,901
PROGRAM REVENUE
Revenue
$41,250
Organization Details
Phone
(313) 842-0986Principal Officer
Laura Chavez-Wazeerud-Din
Main Address
7752 W VERNOR, DETROIT, MI, 482091516
NTEE Category
Code: S31 - Community improvement
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