Overview
What is Wayne County-Detroit Cde Inc?
Wayne County-Detroit CDE Inc is a nonprofit organization located in Detroit, Michigan. Its primary mission is to revitalize low-income communities within Wayne County by utilizing investment capital. Allocated New Market Tax Credits Authority, the organization aims to attract private and public investors, who will subsequently rebuild neighborhoods and create job opportunities for the benefit of these communities and their residents. To achieve this goal, Wayne County-Detroit CDE Inc facilitates and distributes investment capital to low-income community redevelopment projects.
Is Wayne County-Detroit Cde Inc legitimate?
Wayne County-Detroit Cde Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wayne County-Detroit Cde 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:
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What is the mission statement of Wayne County-Detroit Cde Inc?
Wayne County-Detroit Cde Inc is established with the purpose of administering the Federal New Markets Tax Credit program. Their mission is to revitalize low-income communities by attracting private and/or public investors. These investors will rebuild neglected neighborhoods, thereby creating employment opportunities and benefiting the local low-income community. This is achieved by facilitating and distributing investment capital to low-income community redevelopment projects. The organization's activities also involve creating community, economic, and service programs to aid in the redevelopment of these areas.
Who is the CEO of Wayne County-Detroit Cde Inc?
Hassan Sheikh is the Executive Di of Wayne County-Detroit Cde Inc.
What is the revenue of Wayne County-Detroit Cde Inc?
Wayne County-Detroit Cde Inc's revenue in 2022 was $154,203.
Who are the executives of Wayne County-Detroit Cde Inc and what are their salaries?
Here are 10 key members and their salaries:
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- Related: $185,000
- Other: $100,111
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- Related: $110,000
- Other: $59,525
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- Related: $162,500
- Other: $87,936
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Where can I find the form 990 for Wayne County-Detroit Cde Inc?
Wayne County-Detroit Cde Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Wayne County-Detroit Cde Inc
Wayne County-Detroit CDE Inc, a nonprofit organization, was established with the mission to administer the Federal New Markets Tax Credit Program. This program aims to revitalize low-income communities by attracting both private and public investors. These investors will rebuild neighborhoods, thereby creating opportunities for job creation and benefiting the low-income communities and individuals in Wayne County, Detroit, Michigan. The organization achieves this by facilitating and distributing investment capital to low-income community redevelopment projects. In essence, Wayne County-Detroit CDE Inc is dedicated to improving the livelihoods of low-income communities by redeveloping neighborhoods and creating viable economic and service programs.
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Impact
October, 2024
Wayne County-Detroit Cde Inc plays a vital role in revitalizing low-income communities in Wayne County, Michigan, particularly in Detroit. By administering the Federal New Markets Tax Credit Program, the organization successfully attracts private and public investors, channeling investment capital to projects designed to rebuild neighborhoods. This influx of capital is critical for stimulating economic activities, creating jobs, and enhancing community services in areas that have historically faced disinvestment.
The organization’s mission focuses on fostering community development through strategic initiatives that are tailored to the specific needs of low-income neighborhoods. By facilitating and distributing investment capital, Wayne County-Detroit Cde Inc helps to create a foundation for sustainable growth and improvement in these communities. This approach not only assists in the physical redevelopment of neighborhoods but also brings about economic revival and social upliftment for individuals living in those areas. Ultimately, their efforts contribute to the long-term prosperity and resilience of the communities they serve.
This information is meant to be a general summary of Wayne County-Detroit Cde 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: $1,153
- Gross Receipts: $154,203
Assets and Liabilities:
- Total Assets: $4,652,152
- Total Liabilities: $2,013,223
- Net Assets: $2,638,929
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Organization Details
Founding Year
2003
Principal Officer
Hassan Sheikh
Main Address
500 GRISWOLD, DETROIT, MI, 48226
NTEE Category
Code: S12 - Community improvement
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