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Nonprofit · EIN 46-4873153

FOUNDATION FOR DETROITS FUTURE

Tax-exempt · DETROIT, MI 48226

Financials

$17.5M$18.9M2023$22.5M$18.9M2024
Revenue Expenses · by fiscal year end
Financials of FOUNDATION FOR DETROITS FUTURE by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$22,534,738$18,922,329$3,612,409$47,856,123$45,293$47,810,830
December 31, 2023990$17,474,620$18,925,421-$1,450,801$44,240,032$41,611$44,198,421
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$20,933,333
Program service revenue
$0
Investment income
$1,471,405
Other revenue
$130,000

Expenses

Grants and similar amounts paid
$18,850,000
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Legal fees
$9,591
Program services (functional)
$18,850,000
Management and general (functional)
$72,329

Balance sheet and other

Total assets, start of year
$44,240,032
Total assets, end of year
$47,856,123
Total liabilities, end of year
$45,293
Net assets, end of year
$47,810,830
Publicly traded securities
$23,827,791
Net assets without donor restrictions
$47,810,830
Gross receipts
$22,534,738
Employees
0
Volunteers
4
Year formed
2014
State of legal domicile
MI

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationFrom related orgsOther / benefits
RICHARD L DEVOREPRESIDENT/SECRETARY
Trustee or director, Officer
0.5$0$654,744$64,903
JENILYN NORMANVP, FINANCE AND ADMINISTRATION
Officer
0.5$0$263,812$52,000
DAVID T PROVOSTCHAIR /DIRECTOR
Trustee or director, Officer
0.5$0$0$0
JOHN A BARKERTREASURER
Trustee or director, Officer
0.5$0$0$0
PAUL TRULIKVICE CHAIR /DIRECTOR
Trustee or director, Officer
0.5$0$0$0
NISHKA CHANDRASOMADIRECTOR
Trustee or director
0.5$0$0$0
990 for the year ended December 31, 2023: 8 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
RICHARD L DEVOREPRESIDENT/SECRETARY
Trustee or director, Officer
1$0$638,226$51,905
JENILYN NORMANVP, FINANCE AND ADMINISTRATION
Officer
0.5$0$244,708$34,646
ALLAN D GILMOURVICE CHAIR (END 06/30)
Trustee or director, Officer
0.5$0$0$0
DAVID T PROVOSTCHAIR (BEG 12/23)/DIRECTOR
Trustee or director, Officer
0.5$0$0$0
JAMES B NICHOLSONCHAIR (END 06/23)
Trustee or director, Officer
0.5$0$0$0
JOHN A BARKERTREASURER
Trustee or director, Officer
0.5$0$0$0
PAUL TRULIKVICE CHAIR (BEG 12/23)/DIRECTOR
Trustee or director, Officer
0.5$0$0$0
NISHKA CHANDRASOMADIRECTOR
Trustee or director
0.5$0$0$0

Address and contacts

Address (IRS master file)
333 W FORT ST STE 2010, DETROIT, MI 48226-3134
In care of
% ROBIN D FERRIBY
Principal officer (990 for 2024)
NICOLE SHERARD-FREEMAN, 333 WEST FORT STREET 2010, DETROIT, MI 48226
Signed the 990
NICOLE SHERARD-FREEMAN, PRESIDENT & CEO
Phone
(313) 961-6675
Return prepared by
DELOITTE TAX LLP

Mission

FOUNDATION FOR DETROIT'S FUTURE (FDF) SHALL WORK TO LESSEN THE BURDENS OF GOVERNMENT, COMBAT COMMUNITY DETERIORATION, AND IMPROVE THE QUALITY OF LIFE OF THE GENERAL PUBLIC IN AND AROUND THE CITY OF DETROIT THROUGH, AMONG OTHER THINGS, CONDUCTING ACTIVITIES AND PROGRAMS, AND PROVIDING SUPPORT AND FUNDING TO GOVERNMENTAL ENTITIES, CHARITABLE ORGANIZATIONS AND OTHERS, TO PROTECT AND PRESERVE THE CITY OF DETROIT'S RICH CULTURAL HERITAGE, FOSTER AND PROMOTE THE ECONOMIC REVITALIZATION AND FISCAL HEALTH OF THE CITY OF DETROIT AND ENABLE THE CITY OF DETROIT TO FULFILL ITS MUNICIPAL, FINANCIAL AND CIVIC OBLIGATIONS. THE FDF SUPPORTS THE COMMUNITY FOUNDATION FOR SOUTHEAST MICHIGAN (CFSEM) BY SUPPORTING ORGANIZATIONS WHOSE WORK FURTHERS CFSEM'S MISSION. THE CFSEM'S MISSION IS TO BUILD THE RESOURCES, RELATIONSHIPS AND EXPERTISE REQUIRED TO EXPAND EQUITABLE ACCESS TO OPPORTUNITIES ACROSS SOUTHEAST MICHIGAN TO MAKE IT A DESIRABLE PLACE TO LIVE, WORK AND PLAY FOR ALL RESIDENTS, TODAY AND TOMORROW.

990 for the year ended December 31, 2024

Program accomplishments

  • SUPPORT OF FDF'S ROLE TO HELP IMPROVE THE QUALITY OF LIFE IN SOUTHEAST MICHIGAN PRIMARILY AS THE CHARITABLE ENTITY THAT MANAGES THE DIA SETTLEMENT (COMMONLY KNOWN AS THE "GRAND BARGAIN") APPROVED AS PART OF THE PLAN OF ADJUSTMENT THAT CONCLUDED THE BANKRUPTCY PROCEEDINGS OF THE CITY OF DETROIT. SUBJECT TO THE TERMS AND CONDITIONS OF THE SETTLEMENT AGREEMENT, ON THE CLOSING DATE (2014) AND ON AN ANNUAL BASIS THEREAFTER COMMENCING IN 2016, PAYMENTS WILL BE MADE TO THE CITY SUBJECT TO THE CONDITIONS OF THAT SETTLEMENT AGREEMENT.
    Expenses $18,850,000 · grants $18,850,000 · revenue $130,000

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
46-4873153
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Supporting organization, Type I
Donations deductible (Pub 78)
Supporting organization, 50% limit
Exempt since
2014
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$47,856,123
Income (IRS master file)
$22,534,738

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$22,534,738$18,922,329$47,856,123IRS
990December 2023$17,474,620$18,925,421$44,240,032XML
990December 2022$16,700,418$18,916,553$45,675,356IRS
990December 2021–––IRS
990December 2020–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-4873153).

Questions about FOUNDATION FOR DETROITS FUTURE

What is the EIN of FOUNDATION FOR DETROITS FUTURE?
The employer identification number (EIN) of FOUNDATION FOR DETROITS FUTURE is 46-4873153.
Is FOUNDATION FOR DETROITS FUTURE tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
Are donations to FOUNDATION FOR DETROITS FUTURE tax-deductible?
Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
Which annual return does FOUNDATION FOR DETROITS FUTURE file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of FOUNDATION FOR DETROITS FUTURE due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did FOUNDATION FOR DETROITS FUTURE last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of FOUNDATION FOR DETROITS FUTURE?
The 990 for the year ended December 31, 2024 names NICOLE SHERARD-FREEMAN.
Who are the officers and directors of FOUNDATION FOR DETROITS FUTURE?
The 990 for the year ended December 31, 2024 lists 6 people; 0 received compensation from the organization.
How much revenue does FOUNDATION FOR DETROITS FUTURE have?
On its 990 for the year ended December 31, 2024 it reported revenue of $22,534,738, expenses of $18,922,329 and total assets of $47,856,123 at year end.

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