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Nonprofits›Detroit Development Fund

Community Improvement & Capacity Building

Detroit Development Fund

DETROIT, MI

Website View as a funder

Total revenue

$4.9M

Total expenses

$2.9M

Net assets

$10.6M

Grants received

$5.4M

24 grants

EIN

383322605

Tax year

2024

Mission

Detroit Development Fund promotes the economic development of low-to moderate-income residents in the city of Detroit. SED focuses on lending programs as well as job creation and retention.

Financials

FY 2024

Revenue

Contributions & grants$3.8M

Program service revenue$1.0M

Investment income$49K

Other revenue$3K

Total revenue$4.9M

Expenses

Grants paid$306K

Salaries & benefits$1.7M

Fundraising$122K

Other expenses$852K

Total expenses$2.9M

Total assets$19.9M

Net assets$10.6M

People

13 listed

NameRoleCompensation

Ray Waters

President

Board

$188K

40 hrs/wk

Gail Perry-Mason

Director

Board

—

1 hrs/wk

Linda Smith

Director

Board

—

1 hrs/wk

Tom Goddeeris

Director

Board

—

1 hrs/wk

Steve Mondozzi

Chief Financial Officer

Board

—

40 hrs/wk

Kathy Wendler

Director

Board

—

1 hrs/wk

Diana Stewart

Director

Board

—

1 hrs/wk

Ronald C Frederick

Treasurer

Board

—

1 hrs/wk

Dolores A Sturtivant

Board Chair

Board

—

1 hrs/wk

Deborah Jones

VP of Operations

Staff

$171K

40 hrs/wk

John Schoeniger

Loan Fund Manager

Staff

$151K

40 hrs/wk

Angelia Sharp

Senior Loan Officer

Staff

$121K

40 hrs/wk

Erin Grant

Director of DDF Microloan

Staff

$120K

40 hrs/wk

Independent contractors

Mondozzi LLC

Financial & Accounting

$114K

Grants received

Showing 24 of 24

FromAmountPurposeYear

THE PRUDENTIAL FOUNDATION

$400K

ENTREPRENEURS OF COLOR FUND PROJECT

2024

COMMUNITY FOUNDATION FOR SOUTHEAST

$150K

COMMUNITY IMPROVEMENT & CAPACITY BUILDING

2024

LOCAL INITIATIVES SUPPORT CORPORATION

$25K

SEE PART IV

2024

THE GILBERT FAMILY FOUNDATION

$500K

DETROIT COMMUNITY INITIATIVES

2023

THE PRUDENTIAL FOUNDATION

$450K

ENTREPRENEURS OF COLOR FUND PROJECT

2023

COMMUNITY FOUNDATION FOR SOUTHEAST

$231K

COMMUNITY IMPROVEMENT & CAPACITY BUILDING

2023

MAX M & MARJORIE S FISHER FOUNDATION

$50K

BIZLOAN FUND REIMAGINED PROGRAM

2023

MAX M & MARJORIE S FISHER FOUNDATION

$500

HONORARIUM FOR THE IMPACT DETROIT TOUR

2023

JPMORGAN CHASE FOUNDATION

$100

GENERAL OPERATING SUPPORT

2023

THE GILBERT FAMILY FOUNDATION

$500K

DETROIT DEVELOPMENT FUND

2022

THE PRUDENTIAL FOUNDATION

$450K

ENTREPRENEURS OF COLOR FUND PROJECT

2022

COMMUNITY REINVESTMENT FUND INC

$167K

OPERATING SUPPORT

2022

COMMUNITY FOUNDATION FOR SOUTHEAST

$150K

COMMUNITY IMPROVEMENT & CAPACITY BUILDING PROGRAM

2022

JPMORGAN CHASE FOUNDATION

$200

GENERAL OPERATING SUPPORT

2022

WK Kellogg Foundation

$200K

provide post-loan technical assistance to entrepreneurs of color who are borrowers under the Entrepreneurs Of Color Fund and who need training, skill sets and business expertise to keep their business growing and knowledgeable

2021

COMMUNITY FOUNDATION FOR SOUTHEAST

$546K

BORROWING PROGRAM IN RESPONSE TO COVID

2020

The Chicago Community Trust

$400K

TO SUPPORT TECHNOLOGY, STAFF, AND OTHER STRATEGIES FOR INCREASING CAPACITY TO TRACK DATA AND DELIVER INNOVATIVE PRODUCTS

2020

WK Kellogg Foundation

$200K

2020

THE GOLDMAN SACHS FOUNDATION

$100K

GRANT TO SUPPORT COVID-19 RELIEF EFFORTS IN THE DETROIT AREA.

2020

COMMUNITY FOUNDATION FOR SOUTHEAST

$40K

BIZLOAN FUND SMALL BUSINESS SUPPORT

2020

WK Kellogg Foundation

$200K

2019

JPMORGAN CHASE FOUNDATION

$400

GENERAL OPERATING SUPPORT

2018

WK Kellogg Foundation

$500K

improve access to capital for small, minority-owned contractors and neighborhood businesses with demonstrated growth potential by providing program-related investment loan capital

2017

WK Kellogg Foundation

$153K

2017