The Detroit Athletic Club Foundation
- Assets
- $5.1m
- Revenue
- $947.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 10/1999
- Data as of
- 12/2021
- EIN
- 38-3479236
Organization Overview
The Detroit Athletic Club Foundation is located in Detroit, MI. The organization was established in 1999. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit Athletic Club Foundation 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 12/2021, Detroit Athletic Club Foundation generated $947.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.1% each year . All expenses for the organization totaled $303.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Detroit Athletic Club Foundation has awarded 25 individual grants totaling $759,166. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE AND EXPEND FUNDS FOR THE BEAUTIFICATION, SUPPORT OF PROGRAMS FOR PUBLIC SAFETY, AND IMPROVEMENT OF DETROIT, MICHIGAN AND SOUTHEASTERN MICHIGAN. TO RAISE AND EXPEND FUNDS FOR THE AWARD OF SCHOLARSHIPS AND THE PROMOTION OF ACADEMIC AND ATHLETIC ACHIEVEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DETROIT ATHLETIC CLUB FOUNDATION CONDUCTED A SERIES OF EVENTS TO CONTINUE THE FOUNDATION'S MISSION OF PROMOTING ACADEMIC AND ATHLETIC ACHIEVEMENT, INCLUDING MICHIGAN HIGH SCHOOL ATHLETE OF THE YEAR AWARDS NIGHT, BOXING NIGHT, AND THE DETROIT CYCLING CHAMPIONSHIP. IN ADDITION, THE FOUNDATION AWARDED GRANTS TO VARIOUS ORGANIZATIONS WHO FURTHER PROMOTE THE FOUNDATION'S MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Huth President | OfficerTrustee | 1 | $0 |
Matthew Pappas Vice President | OfficerTrustee | 1 | $0 |
Geoffrey Gallinger Secretary | OfficerTrustee | 1 | $0 |
Steven Mellos Treasurer | OfficerTrustee | 1 | $0 |
Charles Johnson Officer | Officer | 1 | $0 |
Aaron Lackey Asst Treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $412,900 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $568,373 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $981,273 |
| Total Program Service Revenue | $0 |
| Investment income | $119,733 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$153,509 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $947,497 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $197,634 |
| Grants and other assistance to domestic individuals. | $6,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,336 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,480 |
| Insurance | $0 |
| All other expenses | $19,245 |
| Total functional expenses | $303,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $209,089 |
| Savings and temporary cash investments | $155,334 |
| Pledges and grants receivable | $32,245 |
| Accounts receivable, net | $346,711 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,000 |
| Net Land, buildings, and equipment | $2,740,174 |
| Investments—publicly traded securities | $1,554,545 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,053,098 |
| Accounts payable and accrued expenses | $49,263 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $49,263 |
| Net assets without donor restrictions | $3,421,847 |
| Net assets with donor restrictions | $1,581,988 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,053,098 |
Grants Awarded
Over the last fiscal year, The Detroit Athletic Club Foundation has awarded $175,505 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
US NAVAL ACADEMY ENDOWMENT PURPOSE: ADVANCEMENT OF THE ACADEMIES BOXING PROGRAM | $49,407 |
USAF Academy, CO PURPOSE: ADVANCEMENT OF THE ACADEMIES BOXING PROGRAM | $49,407 |
West Point, NY PURPOSE: ADVANCEMENT OF THE ACADEMIES BOXING PROGRAM | $46,691 |
Smyrna, GA PURPOSE: SUPPORT OF SPECIAL OPERATORS TRANSITIONING BACK TO CIVILIAN LIFE | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Detroit Athletic Club Foundation has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Joanne Nicolay Foundation Grosse Pointe, MI PURPOSE: GENERAL SUPPORT | $2,000 |
Endowment Analysis
| Beg. Balance | $945,011 |
| Earnings | $136,880 |
| Net Contributions | $388,746 |
| Other Expense | $22,103 |
| Ending Balance | $1,448,534 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richard U Light Foundation Kalamazoo, MI | $629,730 | $25,417,215 |
Skillman Foundation Detroit, MI | $412,503,854 | $53,699,386 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Cardinal Services Inc Of Indiana Warsaw, IN | $28,675,162 | $26,373,889 |
Kalamazoo Promise Kalamazoo, MI | $7,251,327 | $23,596,440 |
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |
Knowledgeworks Foundation Cincinnati, OH | $34,010,195 | $7,717,304 |
Ruth Mott Foundation Flint, MI | $290,091,185 | $30,117,543 |
Jewell Educational Fund Owosso, MI | $398,993,901 | $18,985,075 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Perkins Malo Hunter Foundation Holland, MI | $51,295,166 | -$331,905 |
Thompson Foundation Plymouth, MI | $5,518,000 | $2,844,461 |