Overview
What is Greater Detroit Foreign Trade Zone Inc?
Greater Detroit Foreign Trade Zone Inc is a Michigan-based, nonprofit organization situated in Detroit. Established with a mission to foster international trade, it administers and markets the local Foreign Trade Zone program within the Detroit Metropolitan Port of Entry. This program offers a competitive edge to companies engaged in international commerce by deferring, reducing, or eliminating U.S. customs duties. The organization operates as a user-funded entity, serving as a vital resource to promote and expedite trade activities with countries worldwide.
Official website here: www.detroitftz.com
Is Greater Detroit Foreign Trade Zone Inc legitimate?
Greater Detroit Foreign Trade Zone Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Greater Detroit Foreign Trade Zone 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: $9,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.detroitftz.com
What is the mission statement of Greater Detroit Foreign Trade Zone Inc?
Greater Detroit Foreign Trade Zone Inc is a user-funded non-profit organization, primarily established to administer and promote the Local Foreign Trade Zone program. This program offers a competitive edge to companies involved in international trade by deferring, reducing, or eliminating U.S. customs duties. The organization's initial goal was to establish a Foreign Trade Zone within the Detroit Metropolitan Port of Entry, in compliance with the Foreign Trade Zones Act, with the intention of expediting and boosting commerce with other nations.
Official website here: www.detroitftz.com
Who is the CEO of Greater Detroit Foreign Trade Zone Inc?
W Steven Olinek is the Chairperson And President of Greater Detroit Foreign Trade Zone Inc.
Official website here: www.detroitftz.com
What is the revenue of Greater Detroit Foreign Trade Zone Inc?
Greater Detroit Foreign Trade Zone Inc's revenue in 2022 was $255,659.
Official website here: www.detroitftz.com
Who are the executives of Greater Detroit Foreign Trade Zone Inc and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.detroitftz.com
Where can I find the form 990 for Greater Detroit Foreign Trade Zone Inc?
Greater Detroit Foreign Trade Zone Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.detroitftz.com
Learn more at the official website: www.detroitftz.com
Mission Statement of Greater Detroit Foreign Trade Zone Inc
Greater Detroit Foreign Trade Zone Inc, as a user-funded Michigan non-profit corporation, is dedicated to administering and marketing the local Foreign Trade Zone program. The organization's mission is to provide a competitive advantage to companies involved in international trade. By doing so, it deferrals, reduces, or eliminates U.S. customs duties for these companies. This non-profit was established with the intention of establishing a Foreign Trade Zone within the Detroit Metropolitan Port of Entry, in accordance with the Foreign Trade Zones Act. This move aimed to expedite and promote commerce with other countries.
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Impact
October, 2024
Greater Detroit Foreign Trade Zone Inc plays a significant role in enhancing the economic landscape of the Detroit metropolitan area by effectively administering and marketing the local foreign trade zone program. By establishing a foreign trade zone in the Detroit Metropolitan Port of Entry, the organization facilitates smoother international commerce, allowing businesses to operate more efficiently across borders.
The organization provides a competitive advantage to companies engaged in international trade by offering benefits such as the deferral, reduction, or elimination of U.S. customs duties. This not only reduces operational costs for businesses but also fosters an environment conducive to trade and investment. As a result, Greater Detroit Foreign Trade Zone Inc contributes to the overall improvement of the local economy, promoting growth and attracting more companies with global interests to the region.
Through its efforts, the organization helps streamline the import and export process, making it easier for businesses to navigate customs regulations. This support not only enhances the competitiveness of local companies but also bolsters the region’s position in the global market, ultimately leading to more job opportunities and economic development in the community.
This information is meant to be a general summary of Greater Detroit Foreign Trade Zone 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.
- Investment Income: $2,213
- Program Service Revenue: $253,446
- Gross Receipts: $255,659
Assets and Liabilities:
- Total Assets: $949,883
- Total Liabilities: $62,561
- Net Assets: $887,322
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OPERATOR REVENUE
Revenue
$241,446
APPLICATION FEES
Revenue
$12,000
Organization Details
Founding Year
1981
Phone
(313) 770-4202Principal Officer
W Steven Olinek
Main Address
PO BOX 32829, DETROIT, MI, 482320829
Website
www.detroitftz.comNTEE Category
Code: S40 - Community improvement
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