Overview

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Est.

2015

Fiscal Year Start

Jan 1

Organization Type

Grantseeker

AI Summary

Develop Detroit Inc. is a nonprofit community development firm focused on economic development in Detroit, Michigan. With an operating budget of $4.7 million and total revenue of $5.1 million, the organization is dedicated to providing affordable and mixed-income housing, as well as strategic economic and commercial development to stabilize and transform disinvested neighborhoods. The firm engages in various real estate projects, including single-family rehabilitation and multi-family preservation, and does not rely on a single funder for 50% or more of its revenue. For more information, visit www.developdetroit.org.

Mission Statement

DEVELOP DETROIT, INC. IS A NONPROFIT COMMUNITY DEVELOPMENT FIRM FOCUSED ON PROVIDING AFFORDABLE AND MIXED INCOME HOUSING, AS WELL AS STRATEGIC ECONOMIC AND COMMERCIAL DEVELOPMENT THAT WILL HELP STABILIZE AND TRANSFORM DISINVESTED NEIGHBORHOODS. DDI RENOVATES AND REDEVELOPS PROPERTIES INTO HIGH QUALITY, INCLUSIVE HOUSING THAT IS WELL-DESIGNED AND ACCESSIBLE TO A BROAD RANGE OF DETROITERS. THE FIRM DEVELOPS ACROSS A WIDE RANGE OF REAL ESTATE PROJECT TYPES, INCLUDING SINGLE-FAMILY REHABILITATION AND INFILL AND MULTI- FAMILY PRESERVATION.
Revenues
$5.1M
Expenses
$4.7M
Net Income:
+$436.6K
Assets
$28.4M
Liabilities
$23.8M
Net Assets:
+$4.6M
Operating Budget
$4.7M
Operating Budget by Year

Due Diligence

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Charity Verification Snapshot
IRS EO Business Master File Status
Listed as tax-exempt
IRS Pub 78 Status
Eligible for tax-deductible gifts
IRS Revocation Status
Not in Automatic Revocation of Exemption List
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Total No. of Grants
8
Median grant size
$175K
Largest grant received
$1.3M
S
Sonya Mays
Board Member
G
Gwen Butler
Board Member
S
Sherrie Farrell
Board Member

Frequently Asked Questions

What is DEVELOP DETROIT INC’s budget?
In 2024, DEVELOP DETROIT INC reported an annual operating budget of around $4.7 million. More detailed financial information is available to registered users.
What causes does DEVELOP DETROIT INC support?
DEVELOP DETROIT INC supports work in Economic development.
Where does DEVELOP DETROIT INC operate?
DEVELOP DETROIT INC is headquartered in Detroit, MI.
Who funded DEVELOP DETROIT INC recently?
In 2024, DEVELOP DETROIT INC received grants from JOHN S AND JAMES L KNIGHT FOUNDATION, GS DONOR ADVISED PHILANTHROPY FUND FOR WEALTH MANAGEMENT INC, and THE FORD FOUNDATION. More information on this organization’s funders is available to registered users.
What is the largest grant DEVELOP DETROIT INC received in 2024?
The largest grant to DEVELOP DETROIT INC in 2024 exceeds $1.3 million.