Detroit Regional Chamber Foundation Inc

Organization Overview

Detroit Regional Chamber Foundation Inc is located in Detroit, MI. The organization was established in 1981. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit Regional Chamber Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Detroit Regional Chamber Foundation Inc generated $13.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $9.5m during the year ending 06/2022. While expenses have increased by 1.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2019, Detroit Regional Chamber Foundation Inc has awarded 54 individual grants totaling $1,436,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

DETROIT REGIONAL CHAMBER FOUNDATION, INC (THE "FOUNDATION") IS DEDICATED TO GROWING PROGRAMS OR INITIATIVES THAT ARE IMPORTANT TO ENSURING THE DETROIT REGION'S ECONOMY IS ONE OF THE FASTEST GROWING IN THE U.S.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE DETROIT PROMISE IS THE FOUNDATION'S UMBRELLA SCHOLARSHIP FOR ALL INCOMING COLLEGE STUDENTS, INCLUDING FOUR-YEAR UNIVERSITY STUDENTS FORMALLY ENROLLING THROUGH THE DETROIT COMPACT SCHOLARSHIP PROGRAM. THE DETROIT PROMISE IS A FOUNDATION-ADMINISTERED PROGRAM FUNDED BY THE MICHIGAN EDUCATION EXCELLENCE FOUNDATION ("MEEF"), A MICHIGAN NON-PROFIT ORGANIZATION. UNDER A MEMORANDUM OF UNDERSTANDING WITH THE MEEF, THE DETROIT PROMISE'S ESSENTIAL RESPONSIBILITY IS TO PROVIDE A LAST-DOLLAR SCHOLARSHIP FOR DETROIT HIGH SCHOOL STUDENTS ENTERING AREA COMMUNITY COLLEGES AND PARTICIPATING FOUR-YEAR UNIVERSITIES. A GRANT FROM THE MDRC PROVIDES SUPPORT TO COMMUNITY COLLEGE STUDENTS AND IMPROVE GRADUATION RATES BY REPLICATING A SUCCESSFUL PROGRAM IN NEW YORK.


MICHAUTO IS MICHIGAN'S ONLY AUTOMOTIVE AND MOBILITY CLUSTER ASSOCIATION TO PROTECT, RETAIN, AND GROW MICHIGAN'S SIGNATURE INDUSTRY WHILE ALSO ENSURING THE STATE'S LEADERSHIP IN ADVANCING THE DEVELOPMENT AND MANUFACTURING OF NEXT-GENERATION MOBILITY TECHNOLOGY.


THE FOUNDATION LEADS A COMPREHENSIVE EDUCATION AND TALENT PORTFOLIO OF PROGRAM AND POLICY WORK IN THE STATE. WITH THE GOAL TO INCREASE POSTSECONDARY DEGREE ATTAINMENT IN SOUTHEAST MICHIGAN TO 60% BY 2030, THE CHAMBER'S WORK WILL GROW THE TALENT POOL FOR EMPLOYERS.


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Board, Officers & Key Employees

Name (title)Compensation
Glenn Stevens
Vice- President, Automotiv
$276,819
Sandy K Baruah
President
$255,759
Gregory Handel
Vice President, Education
$180,055
Carolyn Sauer
Senior Director
$143,984
Karen Belans
Treasurer
$117,759
Bradley Williams
Secretary & Executive Dire
$101,277

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$600,000
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$11,442,057
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$12,042,057
Total Program Service Revenue$942,240
Investment income $898
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $12,985,195

Grants Awarded

Over the last fiscal year, Detroit Regional Chamber Foundation Inc has awarded $450,000 in support to 20 organizations.

Grant RecipientAmount

1 MICHIGAN FOR THE GLOBAL MAJORITY

Org PageRecipient Profile

Detroit, MI

PURPOSE: GENERAL SUPPORT

$30,000

CONGRESS OF COMMUNITIES

Org PageRecipient Profile

Detroit, MI

PURPOSE: GENERAL SUPPORT

$30,000

BAILEY PARK PROJECT

Org PageRecipient Profile

Detroit, MI

PURPOSE: GENERAL SUPPORT

$30,000

DETROIT SOUND CONSERVANCY

Org PageRecipient Profile

Detroit, MI

PURPOSE: GENERAL SUPPORT

$30,000

DETROIT POLICE ATHLETIC LEAGUE

Org PageRecipient Profile

Detroit, MI

PURPOSE: GENERAL SUPPORT

$30,000

DETROIT HIVES INC

Org PageRecipient Profile

Detroit, MI

PURPOSE: GENERAL SUPPORT

$30,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Detroit Regional Chamber Foundation Inc has recieved totaling $2,000.

Awarding OrganizationAmount
The Butzel Long Charitable Trust

Detroit, MI

PURPOSE: PROVIDE ACCURATE AND VERIFIED DATA WITH EXTENSIVE ECONOMIC, WORKFORCE, AND EDUCATION STATISTICS TO SUPPORT DATA-DRIVEN BUSINESS, PHILANTHROPIC, POLICY, AND CAREER DECISIONS.

$2,000
View Grant Recipient Profile

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