Overview
What is Detroit Economic Growth Association?
The Detroit Economic Growth Association is a nonprofit organization situated in Detroit, Michigan, specifically at 500 Griswold Street, Suite 2200. Its primary mission is to stimulate economic growth and revitalization within the city of Detroit. To accomplish this, the association engages in various promotional activities aimed at fostering a thriving and prosperous urban environment.
Official website here: www.degc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93% (Four-Star out of Four Stars)
The Detroit Economic Growth Association has achieved a strong 93% rating on Charity Navigator, indicating a high level of accountability and financial health. The organization boasts an impressive program expense ratio of 96.53%, reflecting its commitment to directing resources towards its mission rather than administrative costs. The independent board structure is robust with 31 members, ensuring effective governance.
However, while the majority of its financial practices are commendable, there is a notable absence of a whistleblower policy, which has affected its score in that area. Despite this limitation, the organization demonstrates a solid commitment to transparency and ethical practices, as evidenced by its comprehensive financial oversight and the absence of any material diversion of assets.
Overall, the Detroit Economic Growth Association's strong financial management and governance practices position it favorably among other nonprofits, though addressing the missing whistleblower policy could enhance its accountability framework further.
This AI summary has been generated from information found on Charity Navigator.
Is Detroit Economic Growth Association legitimate?
Detroit Economic Growth Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Detroit Economic Growth Association 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: $102,000
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.degc.org
What is the mission statement of Detroit Economic Growth Association?
The Detroit Economic Growth Association is dedicated to promoting economic growth within its scope. Their mission involves facilitating activities that stimulate economic expansion and revitalization in the city. By carrying out these initiatives, they aim to foster a thriving economic environment, ultimately contributing to the city's overall prosperity. The association does not disclose specific details about its location in its provided information.
Official website here: www.degc.org
What is the revenue of Detroit Economic Growth Association?
Detroit Economic Growth Association's revenue in 2024 was $6,597,694.
Official website here: www.degc.org
Who are the executives of Detroit Economic Growth Association and what are their salaries?
Here are 32 key members and their salaries:
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- Related: $261,164
- Other: $55,598
Official website here: www.degc.org
Where can I find the form 990 for Detroit Economic Growth Association?
Detroit Economic Growth Association's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.degc.org
Learn more at the official website: www.degc.org
Mission Statement of Detroit Economic Growth Association
The Detroit Economic Growth Association, in its mission, works diligently to foster economic growth within the city of Detroit. This nonprofit organization is dedicated to promoting a variety of activities that aim to revitalize the city's economy. By engaging in these initiatives, the Detroit Economic Growth Association seeks to stimulate economic growth and development within the urban landscape.
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Impact
July, 2024
The Detroit Economic Growth Association's impact can be seen through its promotion of activities that spur economic growth and revitalization in the city of Detroit. By focusing on initiatives that enhance the local economy, attract investment, and create opportunities for businesses and residents, the association plays a crucial role in driving positive change and development in Detroit. Through its efforts, the association contributes to the overall improvement of the community, positioning Detroit as a vibrant and thriving city.
This information is meant to be a general summary of Detroit Economic Growth Association. 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 2024.
- Investment Income: $29,730
- Program Service Revenue: $3,701,390
- Gross Receipts: $6,597,694
Assets and Liabilities:
- Total Assets: $6,651,865
- Total Liabilities: $470,944
- Net Assets: $6,180,921
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACT INCOME
Revenue
$3,701,390
Organization Details
Founding Year
1982
Principal Officer
Kevin Johnson
Website
www.degc.orgNTEE Category
Code: S31Z - Community improvement
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