Nonprofit · EIN 61-1595858
DETROIT AFFORDABLE HOMES INC
Tax-exempt (reinstated) · BERKLEY, MI 48072
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $397,246 | $738,068 | -$340,822 | $2,862,224 | $667,103 | $2,195,121 |
| December 31, 2023 | 990 | $1,569,375 | $1,364,116 | $205,259 | $2,686,770 | $150,827 | $2,535,943 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $290,284
- Investment income
- $0
- Other revenue
- $106,962
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $553,330
- Salaries, compensation and benefits (total)
- $553,330
- Professional fundraising fees
- $0
- Legal fees
- $15,122
- Accounting fees
- $1,000
- Occupancy
- $4,505
- Travel
- $14,086
- Program services (functional)
- $722,316
- Management and general (functional)
- $15,752
Balance sheet and other
- Total assets, start of year
- $2,686,770
- Total assets, end of year
- $2,862,224
- Total liabilities, end of year
- $667,103
- Net assets, end of year
- $2,195,121
- Gross receipts
- $397,246
- Employees
- 0
- Year formed
- 2009
- 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.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kirk Bruce | Executive Director Officer, Key employee | 60 | $553,330 |
| David T Dorsey III | Director, President Trustee or director, Officer | 1 | $0 |
| Anthony T Rankin | Director, Sec/Treas Trustee or director, Officer | 1 | $0 |
| Sean P Dunn | Director Trustee or director | 1 | $0 |
| Robert Force | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kirk Bruce | Executive Director Officer, Key employee | 60 | $492,975 |
| David T Dorsey III | Director, President Trustee or director, Officer | 1 | $0 |
| Anthony T Rankin | Director, Sec/Treas Trustee or director, Officer | 1 | $0 |
| Sean P Dunn | Director Trustee or director | 1 | $0 |
| Robert Force | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 725378, BERKLEY, MI 48072-5378
- Principal officer (990 for 2024)
- Kirk B Bruce, PO Box 725378, Berkley, MI 480725378
- Signed the 990
- Kirk B Bruce, Executive Director
- Phone
- (248) 629-9155
- Return prepared by
- Donna M Bishop CPA PC
Mission
To develop and/or preserve affordable housing for Extremely Low Income ELI, Very Low Income VLI and Low Income LI families, seniors, disabled and disadvantaged populations, asset management of existing stabilized projects, underwriting new projects, overseeing construction, and applying for government incentives.
Program accomplishments
- New Programs Nevada RD Portfolio, Emerald Apartments, Wild Rose Senior Housing, Theressa James Manor Apartments, and ADI Preservation Portfolio. During the tax year, the organization began the process of preserving 370 units of affordable rental housing across four states in underserved neighborhoods, These projects will be financed through a combination of LIHTC, HUD HOME grants, HUD HNTF grants, AHP grants, Federal Solar tax credits, USDA 538 construction and permanent debt, USDA 515 assumable permanent debt, HUD 221d4 and 223f construction and permanent financing, construction tax exempt bonds, and conventional debt. 8.5m of grants were applied for in 2024. The organization is overseeing all phases of development including site acquisition, community engagement, architect design and supervision, construction, property management, and asset management. All units are reserved for households earning at or below 60 of the Area Median Income with the majority of the units set aside for extremely low income household populations of which many are seniors and/or disabled.Expenses $411,396 · revenue $119,111
- During the tax year, the organization acquired and preserved one single family home for rental housing in the State of Michigan. This project will be sold to households of low income. The organization is overseeing all phases of preservation including site acquisition, community engagement, down payment assistance to buyer and financing assistance to the buyer.Expenses $126,583 · revenue $70,110
- During the tax year, the organization performed administrative and asset management of existing owned developments preserved by the organization previously totaling 17 locations, 846 units across three states in underserved neighborhoods. Tasks include reviewing monthly financial statements, corresponsing with 3rd party propery management agents, government compliance exercises, positioning assets for sale or refinance, and quarterly inspections.Expenses $94,937 · revenue $101,063
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 61-1595858
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2014
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L21)
- Assets (IRS master file)
- $2,862,224
- Income (IRS master file)
- $397,246
Revocation and reinstatement
- Exemption revoked
- May 15, 2013
- Posted by the IRS
- August 12, 2013
- Reinstated
- Effective May 15, 2013
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $397,246 | $738,068 | $2,862,224 | IRS |
| 990 | December 2023 | $1,569,375 | $1,364,116 | $2,686,770 | XML |
| 990 | December 2022 | $1,410,973 | $554,439 | $2,481,481 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 61-1595858).
Questions about DETROIT AFFORDABLE HOMES INC
- What is the EIN of DETROIT AFFORDABLE HOMES INC?
- The employer identification number (EIN) of DETROIT AFFORDABLE HOMES INC is 61-1595858.
- Is DETROIT AFFORDABLE HOMES INC tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2013 and reinstated it effective May 15, 2013.
- Are donations to DETROIT AFFORDABLE HOMES INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does DETROIT AFFORDABLE HOMES INC 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 DETROIT AFFORDABLE HOMES INC 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 DETROIT AFFORDABLE HOMES INC 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 DETROIT AFFORDABLE HOMES INC?
- The 990 for the year ended December 31, 2024 names Kirk B Bruce.
- Who are the officers and directors of DETROIT AFFORDABLE HOMES INC?
- The 990 for the year ended December 31, 2024 lists 5 people; 1 received compensation from the organization, the highest $553,330 (Kirk Bruce, Executive Director).
- How much revenue does DETROIT AFFORDABLE HOMES INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $397,246, expenses of $738,068 and total assets of $2,862,224 at year end.
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