Overview
What is Detroit Regional Chamber Foundation Inc?
The Detroit Regional Chamber Foundation Inc is a Michigan-based nonprofit organization, headquartered at 777 Woodward Ave, Detroit, MI, 48226. Their primary mission is to drive economic growth in the Detroit region by supporting and funding various programs and initiatives. The Foundation's most notable project is "The Detroit Promise," an umbrella scholarship program for Detroit high school students entering community colleges and four-year universities. This program is funded by the Michigan Education Excellence Foundation, with tax revenues allocated under a memorandum of understanding. The Detroit Regional Chamber Foundation serves as the partner to administer this program, utilizing the funds to provide last-dollar scholarships to students within the program guidelines.
Official website here: www.detroitchamber.com
Is Detroit Regional Chamber Foundation Inc legitimate?
Detroit Regional Chamber Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Detroit Regional Chamber Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $1,120,830
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,924,244
For more financial information, click here
Official website here: www.detroitchamber.com
What is the mission statement of Detroit Regional Chamber Foundation Inc?
The Detroit Regional Chamber Foundation is committed to fostering the growth of crucial programs and initiatives that contribute to the Detroit region's economy becoming one of the fastest growing in the United States. The Foundation administers The Detroit Promise, an umbrella scholarship program for incoming college students, funded by the Michigan Education Excellence Foundation. The program offers last-dollar scholarships for Detroit high school students entering community colleges and participating in four-year universities. The Foundation receives funding from a portion of state property taxes collected in the city of Detroit, specifically allocated for a college promise program under Michigan state statute. The Detroit Regional Chamber Foundation uses this tax capture revenue to administer the program within the statutory guidelines.
Official website here: www.detroitchamber.com
Who is the CEO of Detroit Regional Chamber Foundation Inc?
Sandy Baruah is the President of Detroit Regional Chamber Foundation Inc.
Official website here: www.detroitchamber.com
What is the revenue of Detroit Regional Chamber Foundation Inc?
Detroit Regional Chamber Foundation Inc's revenue in 2023 was $12,220,449.
Official website here: www.detroitchamber.com
Who are the executives of Detroit Regional Chamber Foundation Inc and what are their salaries?
- Sandy K Baruah (President) [Trustee/Director]
- Tammy Carnrike (Chief Operating Officer)
- Karen Belans (Treasurer) [Trustee/Director]
- Megan Spanitz (Vice- President, Resource)
- Glenn Stevens (Vice- President, Automotiv)
- Bradley Williams (Secretary & Executive Dire) [Trustee/Director]
- Gregory Handel (Vice President, Education)
- Wendy Nodge (Senior Director, Signature)
- Jason Jurczyk (Senior Director, Accountin)
- James P Connarn (Senior Director, Marketing)
- Drake A Haynes (Director, Information Technology)
- Lori A Shiels (Senior Director, Engagement And Membership Develop)
- Liazbeth Ardisana (Chairman Of The Board) [Trustee/Director]
- Richard Rassel (Vice Chair) [Trustee/Director]
- Amber Arellano (Director)
- Mike Schmidt (Director)
- Matt Friedman (Director)
- Louis Glazer (Director)
- John James (Director)
- George Lenyo (Director)
- Thomas Linn (Director)
- Nancy Moody (Director)
- Daniel Ponder (Director)
- Robert Riney (Director)
- Frank Venegas (Director)
- Ryan Maibach (Director)
- Nico Schultz (Director)
Official website here: www.detroitchamber.com
Where can I find the form 990 for Detroit Regional Chamber Foundation Inc?
The Detroit Regional Chamber Foundation Inc’s most recent form 990 was submitted in 2023 and can be accessed here
Official website here: www.detroitchamber.com
Learn more at the official website: www.detroitchamber.com
Mission Statement of Detroit Regional Chamber Foundation Inc
The Detroit Regional Chamber Foundation, Inc. is a dedicated organization with a mission to cultivate and support programs and initiatives that contribute to the Detroit region's economy being among the fastest growing in the United States. The Foundation's primary focus is on nurturing and expanding endeavors that are crucial for the region's economic growth.
One of the Foundation's most prominent initiatives is The Detroit Promise, an umbrella scholarship program for incoming college students, including those attending community colleges and four-year universities. This program, funded by the Michigan Education Excellence Foundation, is administered by the Foundation, and its essential responsibility is to provide a last-dollar scholarship to Detroit high school students entering community colleges and participating in four-year universities. The funding for the program comes from a portion of state property taxes collected in the city of Detroit, allocated by the State of Michigan for the purpose of establishing a college promise program. The Foundation is designated as the partner to administer this program, and it uses the tax capture revenue to fund the program within the statutory guidelines.
Impact
This information is meant to be a general summary of Detroit Regional Chamber Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Detroit Regional Chamber Foundation Inc's impact is significant in ensuring the Detroit region's economy is one of the fastest growing in the U.S. Through initiatives like the Detroit Promise scholarship program, the foundation supports high school students in Detroit by providing last-dollar scholarships for those entering community colleges and four-year universities. By partnering with organizations like the Michigan Education Excellence Foundation, the foundation plays a vital role in fostering educational opportunities and economic growth in the Detroit area.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ECONOMIC DEVELOPMENT
Revenue
$778,500
LEADERSHIP DETROIT
Revenue
$341,895
DETROIT PROMISE
Revenue
$26,000
RACIAL JUSTICE AND ECONOMIC EQUIT
Revenue
$7,500
Organization Details
Founding Year
1981
Phone
(313) 964-4000
Principal Officer
Sandy Baruah
Main Address
777 WOODWARD AVE STE 800, DETROIT, MI, 48226
Website
www.detroitchamber.com
NTEE Category
Code: S410 - Community improvement
If you are a representative of Detroit Regional Chamber Foundation Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.