E Warren Development Corporation
- Assets
- $2.5m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 3
- Location
- Detroit, MI
- Founding
- Data as of
- 12/2023
- EIN
- 84-3003783
Organization Overview
E Warren Development Corporation is located in Detroit, MI. 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. As of 12/2023, E Warren Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. E Warren Development Corporation 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 12/2023, E Warren Development Corporation generated $2.5m in total revenue. All expenses for the organization totaled $640.6k during the year ending 12/2023.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT AND ENHANCE THE E. WARREN COMMERCIAL CORRIDOR AND ADJACENT NEIGHBORHOOD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HOSTED 26 COMMUNITY EVENTS PROVIDING RESOURCES AND SPURRING FOOT TRAFFIC TO LOCAL BUSINESSES TO SPUR ECONOMIC GROWTH ALONG THE EAST WARREN COMMERCIAL CORRIDOR. ADDITIONALLY, THE ORGANIZATION SUPPORTED 63 LOCAL BUSINESSES PROVIDING THEM TECHNICAL ASSISTANCE AND HELPING TO STRENGTHEN OUR COMMERCIAL CORRIDOR. ALL OF WHICH SUPPORT OUR MISSION TO SUPPORT AND ENHANCE THE E. WARREN COMMERCIAL CORRIDOR THROUGH COLLABORATION, COMMUNITY ENGAGEMENT AND EQUITABLE DEVELOPMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Rashid Executive Director | Officer | 40 | $114,782 |
Sean Riddell Member | Trustee | 2 | $0 |
Scott Field Member | Trustee | 2 | $0 |
Isaac Hunter Jr Member | Trustee | 2 | $0 |
Candice Meeks Member | Trustee | 2 | $0 |
Marcia Spivey Board President | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,448,122 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,448,122 |
| Total Program Service Revenue | $16,478 |
| Investment income | $0 |
| 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 | $2,464,600 |
| 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. | $244,794 |
| Compensation of current officers, directors, key employees. | $47,276 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $40,667 |
| Payroll taxes | $21,698 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,170 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,741 |
| Advertising and promotion | $6,907 |
| Office expenses | $39,277 |
| Information technology | $7,036 |
| Royalties | $0 |
| Occupancy | $11,036 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,142 |
| Interest | $389 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,545 |
| All other expenses | $0 |
| Total functional expenses | $640,615 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,689,105 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $693,530 |
| 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 | $118,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,500,635 |
| Accounts payable and accrued expenses | $5,465 |
| 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 | $217,695 |
| Other liabilities | $0 |
| Total liabilities | $223,160 |
| Net assets without donor restrictions | $2,277,475 |
| Net assets with donor restrictions | $0 |
| 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 | $2,500,635 |