Detroit Regional Partnership Foundation
- Assets
- $4.7m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 22
- Location
- Detroit, MI
- Founding
- 06/2019
- Data as of
- 12/2021
- EIN
- 83-1361974
Organization Overview
Detroit Regional Partnership Foundation is located in Detroit, MI. The organization was established in 2019. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Detroit Regional Partnership Foundation employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit Regional Partnership 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 Regional Partnership Foundation generated $7.3m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $5.0m during the year ending 12/2021. While expenses have increased by 20.1% per year over the past 3 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE DRPF IS AN ECONOMIC DEVELOPMENT ORGANIZATION. IT SEEKS TO MARKET THE 11-COUNTY SOUTHEAST MICHIGAN REGION TO BOTH DOMESTIC AND GLOBAL INVESTORS WITH THE GOAL OF ATTRACTING NEW BUSINESS, JOB OPPORTUNITIES AND INVESTMENT TO SOUTHEAST MICHIGAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS DEVELOPMENT: IN 2021 THE DRPF'S BUSINESS DEVELOPMENT PROGRAM CLOSED 21 NEW DEALS FOR THE REGION. THOSE WINS DROVE TOTAL REGIONAL ECONOMIC IMPACT OF $913.5M IN NEW INVESTMENT AND CONSTRUCTION SPENDING, 5,184 JOBS CREATED OR SUPPORTED (OVER 1,100 OF THOSE BEING PATHWAY JOBS), AND AN INCREASE OF OVER $290M IN REGIONAL PAYROLL.
RESEARCH: IN ADDITION TO SUPPORTING PARTNERS WITH NUMEROUS REQUESTS FOR INFORMATION, PROVIDING NUMEROUS PROSPECTS WITH CRITICAL DATA ON THE REGION'S WORKFORCE, INFRASTRUCUTE AND OTHER KEY BUSINESS CLIMATE DETAILS, AND LEVERAGING ITS DATA-DRIVEN, CLUSTER BASED INTELLIGENCE TO GENERATE PROJECT LEADS, THE DRP'S RESEARCH AND BUSINESS INTELLIGENCE TEAM REVAMPED ITS INTERACTIVE INDUSTRY CLUSTER MAPS, WHICH WERE DEVELOPED TO HELP PROSPECTS VIRTUALLY EXPLORE THE REGION DURING THE FIRST YEAR OF THE PANDEMIC. THE ONLINE MAPS WERE VIEWED NEARLY 11,000 TIMES IN 2021 AND RECEIVED THE COUNCIL FOR COMMUNITY AND ECONOMIC RESEARCH (C2ER) AWARD FOR PROJECT IMPACT, PROGRAM EVALUATION OR ASSESSMENT. THE RESEARCH PROGRAM ALSO CREATED, IN PARTNERSHIP WITH THE DETROIT REGIONAL CHAMBER, THE DETROIT REGIONAL DASHBOARD. THIS DASHBOARD CONTAINS KEY ECONOMIC AND SOCIAL METRICS TO HELP INFORM PHILANTHROPIC EFFORTS AND DRIVE PROSPERITY AND EQUITY THROUGHOUT SOUTHEAST MICHIGAN. BY DECEMBER 2021, IT HAD BEEN VISITED MORE THAN 8,000 TIMES.
MARKETING: THE DETROIT REGION HAS QUITE A STORY TO TELL, AND ITS MARKETING PROGRAM HAS SHARED IT ACROSS VIDEO, DIGITAL, AND SOCIAL MEDIA PLATFORMS THROUGHOUT THE YEAR. IT CONTINUES TO PROMOTE A REGIONAL FEEL WITH INCREASED VIDEO CONTENT AND ORIGINAL PHOTOGRAPHY OF THE REGION. TECH AMBASSADOR VIDEO SERIES WAS PRODUCED AND LAUNCHED, ASKING LOCAL TECH LEADERS TO SHARE THEIR EXPERIENCE AND EXPLAIN WHY THE DETROIT REGION IS THE BEST PLACE TO GROW A TECH BUSINESS. A REGIONAL VIDEO WAS ALSO PRODUCED AND RELEASED IN 2021. THIS VIDEO PACKS EVERYTHING THE DETROIT REGION HAS TO OFFER INTO 2 MINUTES, SHOWCASING HOW OUR DIVERSE COMMUNITIES, BUSINESSES, AND TALENT OFFER SOMETHING FOR ANY COMPANY LOOKING TO ACCESS THE NORTH AMERICAN MARKET AND BEYOND.
"SEMI ECOSYSTEM: THE SOUTHEAST MICHIGAN ECOSYSTEM IS A CONVENING OF ORGANIZATIONS TO ADDRESS CONCERNS FROM PROSPECTIVE COMPANIES CONSIDERING THE REGION. THESE ORGANIZATIONS WORK TOGETHER TO IMPROVE THE ECONOMIC FOUNDATION OF THE 11-COUNTY SOUTHEAST MICHIGAN REGION AND MAKE OUR REGION A MORE ATTRACTIVE PLACE TO DO BUSINESS. WE ALSO PARTNER WITH MANY ECOSYSTEM PARTICIPANTS TO ATTRACT NEW BUSINESSES TO THE REGION."
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maureen Krauss President & CEO | Officer | 39 | $397,337 |
Justin Robinson Svp, Business Development | Officer | 39 | $208,653 |
Tamekia Nixon Vp, Marketing | 40 | $142,913 | |
Alan Weber Vp, Global Investment & Trade | 40 | $132,357 | |
Angela Ladetto Vp, Business Intelligence & Research | 40 | $130,710 | |
Kent Spencer Vp, Business Development | 40 | $120,107 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Innovative Edit Marketing And Web Development | 12/30/21 | $452,887 |
Resource Development Group Lead Generation | 12/30/21 | $135,000 |
Whim Detroit Llc It Support Services | 12/30/21 | $110,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $292,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,960,546 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,253,046 |
| Total Program Service Revenue | $0 |
| Investment income | $2,570 |
| 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 | $7,260,369 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $781,257 |
| Compensation of current officers, directors, key employees. | $250,535 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,387,643 |
| Pension plan accruals and contributions | $57,188 |
| Other employee benefits | $200,717 |
| Payroll taxes | $139,954 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,329 |
| Fees for services: Accounting | $85,078 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $721,714 |
| Advertising and promotion | $0 |
| Office expenses | $214,489 |
| Information technology | $392,148 |
| Royalties | $0 |
| Occupancy | $146,895 |
| Travel | $49,648 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $216,926 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,306 |
| Insurance | $0 |
| All other expenses | $333 |
| Total functional expenses | $5,028,963 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,905,977 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,597,391 |
| Accounts receivable, net | $0 |
| 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 | $54,931 |
| Net Land, buildings, and equipment | $101,172 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $80,000 |
| Total assets | $4,739,471 |
| Accounts payable and accrued expenses | $513,843 |
| 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 | $513,843 |
| Net assets without donor restrictions | $612,733 |
| Net assets with donor restrictions | $3,612,895 |
| 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 | $4,739,471 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Detroit Regional Partnership Foundation has recieved totaling $5,575,050.
| Awarding Organization | Amount |
|---|---|
Community Foundation For Southeast Michigan Detroit, MI PURPOSE: ECONOMIC DEVELOPMENT ACTIVITIES | $2,300,050 |
Dte Energy Foundation Detroit, MI PURPOSE: ECONOMIC PROGRESS | $667,000 |
Dte Energy Foundation Detroit, MI PURPOSE: ECONOMIC PROGRESS | $667,000 |
Dte Energy Foundation Detroit, MI PURPOSE: ECONOMIC PROGRESS | $666,000 |
Kresge Foundation Troy, MI PURPOSE: THIS GRANT PROVIDES THREE YEARS OF GENERAL OPERATING SUPPORT TO THE DETROIT REGIONAL PARTNERSHIP FOUNDATION FOR ITS WORK TO SUPPORT ECONOMIC GROWTH AND JOB CREATING IN SOUTHEAST MICHIGAN. | $500,000 |
Charles Stewart Mott Foundation Flint, MI PURPOSE: TO SUPPORT ECONOMIC DEVELOPMENT IN ELEVEN SOUTHEAST MICHIGAN COUNTIES WITH A FOCUS ON EXPANDED OPPORTUNITIES FOR UNDER- AND UNEMPLOYED RESIDENTS. | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Metropolitan Detroit Convention & Vistors Bureau Detroit, MI | $36,765,048 | $14,015,809 |
Detroit Economic Growth Corp Detroit, MI | $7,209,211 | $10,420,774 |
Lawrence Economic Development Corporation South Point, OH | $62,339,240 | $9,945,474 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Southwest Michigan First Corporation Kalamazoo, MI | $10,945,070 | $8,560,798 |
Wenonah Park Properties Inc Bay City, MI | $22,411,152 | $7,079,713 |
Applied Research Institute Bloomington, IN | $3,329,526 | $9,074,163 |
Grand Rapids-Kent Cty Convention Center & Vistors Bureau Grand Rapids, MI | $10,130,209 | $9,465,987 |