Detroit Regional Partnership
- Assets
- $3.2m
- Revenue
- $836.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 03/2019
- Data as of
- 12/2022
- EIN
- 83-1370004
Organization Overview
Detroit Regional Partnership 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit Regional Partnership is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Detroit Regional Partnership generated $836.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (27.2%) each year. All expenses for the organization totaled $34.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (61.2%) per year over the past 4 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE DRP 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: THE MEDC FUNDED REGIONAL ECONOMIC DEVELOPMENT THROUGH A GRANT TO SUPPORT SITE READINESS PROJECTS IN 2022.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerry Anderson Chairman | OfficerTrustee | 1 | $0 |
Sandy Baruah Director | Trustee | 1 | $0 |
Matt Cullen Director | Trustee | 1 | $0 |
David Coulter Director | Trustee | 1 | $0 |
Mike Duggan Director | Trustee | 1 | $0 |
Warren Evans Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $210,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $615,175 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $825,175 |
| Total Program Service Revenue | $0 |
| Investment income | $11,322 |
| 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 | $836,497 |
| 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. | $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 | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $34,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,101,754 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $134,874 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,236,628 |
| Accounts payable and accrued expenses | $14,000 |
| 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 | $20,000 |
| Total liabilities | $34,000 |
| Net assets without donor restrictions | $3,172,453 |
| Net assets with donor restrictions | $30,175 |
| 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 | $3,236,628 |