Overview
What is Detroit Regional Partnership Foundation?
The Detroit Regional Partnership Foundation is a vital economic development organization situated in Detroit, Michigan. With a mission to actively promote, expand, and strengthen the 11-county Southeast Michigan region, this nonprofit attracts both domestic and international investors. In 2022, their business development program successfully sealed 33 deals, resulting in a substantial regional economic impact. This impact included an impressive $4.6 billion in investment and construction output, the creation or support of 17,278 jobs (with over 4,900 being pathway jobs), and an increase in regional payroll exceeding $950 million. The Detroit Regional Partnership Foundation operates with a workforce of 25 individuals, working tirelessly to drive growth and support their region.
Official website here: www.detroitregionalpartnership.com
What are the reviews and ratings of this charity?
**Charity Navigator Rating: 4 Stars (97%)**
The Detroit Regional Partnership Foundation has achieved a commendable Four-Star out of Four Star rating from Charity Navigator, reflecting its high accountability and financial health. This rating indicates that the organization adheres to strong governance practices, with a fully independent board of directors and robust financial oversight in place. Notably, the foundation scored perfectly across various metrics, demonstrating a commitment to transparency and ethical management of resources.
Strengths of the organization include a solid program expense ratio of over 81%, which signifies that the majority of its expenditures are directed towards its programs rather than administrative costs. Additionally, the absence of material asset diversions and no liabilities to officers enhances trust in its financial practices. The foundation's strong working capital ratio also suggests it effectively manages its operational funds for sustainability.
There are no user reviews available from GreatNonprofits, which limits the insight into public sentiment regarding the foundation's programs and initiatives. Overall, the foundation stands out for its commitment to governance and financial integrity, making it a reliable option for potential donors looking to support community development in the Detroit region.
This AI summary has been generated from information found on Charity Navigator.
Is Detroit Regional Partnership Foundation legitimate?
Detroit Regional Partnership Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Detroit Regional Partnership 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: $1,153,105
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,563,017
For more financial information, click here
Official website here: www.detroitregionalpartnership.com
What is the mission statement of Detroit Regional Partnership Foundation?
The Detroit Regional Partnership Foundation serves as an economic development organization, actively marketing a 11-county region to both domestic and international investors. Its mission is to aggressively promote, expand, and support this region, with the ultimate goal of attracting new business opportunities, job prospects, and investments. In 2022, their business development program successfully closed 33 new deals, resulting in a significant economic impact, creating or supporting over 17,000 jobs, and boosting regional payroll by over $950 million.
Official website here: www.detroitregionalpartnership.com
Who is the CEO of Detroit Regional Partnership Foundation?
Maureen Donohue Krauss is the CEO of Detroit Regional Partnership Foundation The CEO's salary of Detroit Regional Partnership Foundation is $473,624 and their total compensation is $531,623.
Official website here: www.detroitregionalpartnership.com
What is the revenue of Detroit Regional Partnership Foundation?
Detroit Regional Partnership Foundation's revenue in 2023 was $4,196,419.
Official website here: www.detroitregionalpartnership.com
Who are the executives of Detroit Regional Partnership Foundation and what are their salaries?
The average compensation at Detroit Regional Partnership Foundation during 2023 was $106,175. There are 35 employees and 24 volunteers at Detroit Regional Partnership Foundation.
Here are 33 key members and their salaries (Detroit Regional Partnership Foundation's CEO's salary is $473,624 and their total compensation is $531,623):
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- Compensation: $473,624
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- Other: $57,999
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- Compensation: $234,787
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- Compensation: $133,885
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- Compensation: $127,920
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- Other: $15,857
- Compensation: $124,789
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- Other: $14,890
Official website here: www.detroitregionalpartnership.com
Where can I find the form 990 for Detroit Regional Partnership Foundation?
Detroit Regional Partnership Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.detroitregionalpartnership.com
Learn more at the official website: www.detroitregionalpartnership.com
Mission Statement of Detroit Regional Partnership Foundation
The Detroit Regional Partnership Foundation, abbreviated as DRPF, is an economic development organization with a mission to actively market, grow, and support the 11-county Southeast Michigan region. This organization aims to attract new business opportunities, job prospects, and investments to this region, serving as a bridge between domestic and global investors. By successfully closing 33 new deals in 2022, the DRPF contributed to a substantial regional economic impact, resulting in over $4.6 billion in investment and construction output, the creation or support of 17,278 jobs (with over 4,900 being pathway jobs), and an increase in regional payroll exceeding $950 million.
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Impact
July, 2024
Detroit Regional Partnership Foundation's impact can be seen in the significant economic growth and job creation it has facilitated in the 11-county Southeast Michigan region. Through its business development program, the foundation closed 33 new deals in 2022, resulting in a total regional economic impact of $4.6 billion in investment and construction output. This led to the creation or support of 17,278 jobs, with over 4,900 of them being pathway jobs. Additionally, there was an increase of over $950 million in regional payroll. This demonstrates the foundation's effectiveness in attracting new business, job opportunities, and investment to Southeast Michigan, ultimately contributing to the region's economic prosperity and development.
This information is meant to be a general summary of Detroit Regional Partnership 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 2023.
- Investment Income: $13,948
- Program Service Revenue: $1,080,264
- Gross Receipts: $4,196,419
Assets and Liabilities:
- Total Assets: $7,886,860
- Total Liabilities: $1,049,419
- Net Assets: $6,837,441
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMINISTRATIVE SERVICE
Revenue
$1,046,264
PROJECT REVENUE
Revenue
$34,000
Organization Details
Founding Year
2018
Principal Officer
Maureen Donohue Krauss
NTEE Category
Code: S30 - Community improvement
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