Foundation For Detroits Future

Organization Overview

Foundation For Detroits Future is located in Detroit, MI. The organization was established in 2014. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is the central organization for a national or regional group of organizations. Foundation For Detroits Future 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, Foundation For Detroits Future generated $26.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $18.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO HELP IMPROVE THE QUALITY OF LIFE IN SOUTHEAST MICHIGAN PRIMARILY AS THE CHARITABLE ENTITY THAT MANAGES THE DIA SETTLEMENT (COMMONLY KNOWN AS THE "GRAND BARGAIN") APPROVED AS PART OF THE PLAN OF ADJUSTMENT THAT CONCLUDED THE BANKRUPTCY PROCEEDING IN THE CITY OF DETROIT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SUPPORT OF FDF'S ROLE TO HELP IMPROVE THE QUALITY OF LIFE IN SOUTHEAST MICHIGAN PRIMARILY AS THE CHARITABLE ENTITY THAT MANAGES THE DIA SETTLEMENT (COMMONLY KNOWN AS THE "GRAND BARGAIN") APPROVED AS PART OF THE PLAN OF ADJUSTMENT THAT CONCLUDED THE BANKRUPTCY PROCEEDINGS OF THE CITY OF DETROIT. SUBJECT TO THE TERMS AND CONDITIONS OF THE SETTLEMENT AGREEMENT, ON THE CLOSING DATE (2014) AND ON AN ANNUAL BASIS THEREAFTER COMMENCING IN 2016, PAYMENTS WILL BE MADE TO THE CITY SUBJECT TO THE CONDITIONS OF THAT SETTLEMENT AGREEMENT.


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Board, Officers & Key Employees

Name (title)Compensation
Mariam C Noland
President/secretary
$0
James B Nicholson
Chair
$0
Robert J Manilla
Treasurer
$0
Allan D Gilmour
Vice Chair
$0
Jenilyn Norman
Vice President, Finance And Administration
$0
Nishka Chandrasoma
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$575,000
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$25,433,333
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$26,008,333
Total Program Service Revenue$65,000
Investment income $247,647
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 $26,320,980

Grants Awarded

Over the last fiscal year, Foundation For Detroits Future has awarded $18,850,000 in support to 3 organizations.

Grant RecipientAmount

CITY OF DETROIT

PURPOSE: SUPPORT FOR CITY OF DETROIT PRIOR POLICE AND FIRE RETIREMENT SYSTEMS

$18,300,000

CITY OF DETROIT

PURPOSE: SUPPORT FOR CITY OF DETROIT PRIOR GENERAL RETIREMENT SYSTEM

$375,000

CITY OF DETROIT

PURPOSE: SUPPORT FOR CITY OF DETROIT HEALTH CARE TRUSTS

$175,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 11 grants that Foundation For Detroits Future has recieved totaling $21,833,333.

Awarding OrganizationAmount
Kresge Foundation

Troy, MI

PURPOSE: DETROIT RETIREE-ART TRUST

$10,000,000
Ford Foundation

New York, NY

PURPOSE: FOR THE DETROIT INSTITUTE OF ARTS SETTLEMENT PROJECT TO EXPEDITE DETROIT'S BANKRUPTCY SETTLEMENT, ASSIST IN HONORING PENSION COMMITMENTS AND PRESERVE THE INSTITUTES COLLECTION FOR PUBLIC BENEFIT

$8,333,333
William Davidson Foundation

Birmingham, MI

PURPOSE: FOR SUPPORT OF THE GRAND BARGAIN FOR THE DETROIT INSTITUTE OF ARTS

$1,250,000
Community Foundation For Southeast Michigan

Detroit, MI

PURPOSE: DIA SETTLEMENT IN THE PROPOSED PLAN OF ADJUSTMENT FOR THE DEBTS OF THE CITY OF DETROIT

$500,000
Hudson-Webber Foundation

Detroit, MI

PURPOSE: DIA SETTLEMENT ("GRAND BARGAIN")

$500,000
Charles Stewart Mott Foundation

Flint, MI

PURPOSE: TO PROVIDE SUPPORT TO PROTECT AND PRESERVE THE CITY OF DETROIT'S RICH CULTURAL HERITAGE, FOSTER AND PROMOTE THE ECONOMIC REVITALIZATION AND FISCAL HEALTH OF THE CITY, AND ENABLE THE CITY TO FULFILL ITS MUNICIPAL FINANCIAL AND CIVIC OBLIGATIONS.

$500,000
View Grant Recipient Profile

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