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Nonprofiteer
← GRANDMONT ROSEDALE DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by GRANDMONT ROSEDALE DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,247,794
Total expenses
$1,347,011
Contributions and grants received
$907,980
Grants paid
$0
Program service revenue
$305,490
Investment income
$18,569
Other revenue
$15,755
Total assets, end of year
$2,810,543
Total liabilities, end of year
$1,299,863
Net assets or fund balances, end of year
$1,510,680
Program services expenses (Part IX)
$1,214,498
Management and general expenses
$114,736
Fundraising expenses
$17,777
Program service expenses (Part III)
$1,214,498

Program services were 90.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $24,378

  • 1f · All other contributions, gifts and grants

    $883,602

  • 2a · Program service revenue: DEVELOPER FEE

    total $153,264 · related or exempt $153,264

  • 2b · Program service revenue: RENTAL INCOME

    total $147,785 · related or exempt $147,785

  • 2c · Program service revenue: FARMERS MARKET

    total $4,441 · related or exempt $4,441

  • 3 · Investment income

    total $18,569 · excluded $18,569

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $15,755 · related or exempt $15,755

  • 11e · Other revenue, total

    $15,755

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $97,600 · program services $88,382 · management and general $7,374 · fundraising $1,844

  • 7 · Other salaries and wages

    total $305,447 · program services $276,599 · management and general $23,078 · fundraising $5,770

  • 9 · Other employee benefits

    total $35,400 · program services $31,860 · management and general $2,832 · fundraising $708

  • 10 · Payroll taxes

    total $36,512 · program services $32,862 · management and general $2,921 · fundraising $729

  • 11c · Fees: accounting

    total $54,527 · management and general $54,527

  • 11g · Fees: other

    total $77,281 · program services $77,281

  • 12 · Advertising and promotion

    total $590 · program services $222 · management and general $20 · fundraising $348

  • 13 · Office expenses

    total $60,013 · program services $46,007 · management and general $13,052 · fundraising $954

  • 16 · Occupancy

    total $218,763 · program services $210,926 · management and general $6,265 · fundraising $1,572

  • 17 · Travel

    total $4,634 · program services $4,324 · management and general $248 · fundraising $62

  • 20 · Interest

    total $46,043 · program services $45,061 · management and general $785 · fundraising $197

  • 22 · Depreciation, depletion and amortization

    total $51,866 · program services $49,067 · management and general $2,240 · fundraising $559

  • 23 · Insurance

    total $20,428 · program services $18,686 · management and general $1,394 · fundraising $348

  • 24a · Other expenses: DIRECT PROGRAM COSTS

    total $317,634 · program services $317,634

  • 24b · Other expenses: OTHER FINANCIAL EXPENSE

    total $15,587 · program services $15,587

  • 24c · Other expenses: FUNDRAISING EXPENSE

    total $4,686 · fundraising $4,686

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $209,886 · end of year $411,159

  • 3 · Pledges and grants receivable

    beginning of year $137,560 · end of year $208,704

  • 4 · Accounts receivable

    beginning of year $2,467

  • 7 · Other notes and loans receivable

    beginning of year $218,466 · end of year $200,728

  • 8 · Inventories for sale or use

    beginning of year $70,513 · end of year $59,838

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,465 · end of year $7,496

  • 10a · Land, buildings and equipment: cost or other basis

    $2,226,125

  • 10b · Land, buildings and equipment: accumulated depreciation

    $518,507

  • 10c · Land, buildings and equipment, net

    beginning of year $2,534,298 · end of year $1,707,618

  • 15 · Other assets

    beginning of year $900 · end of year $215,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $100,709 · end of year $101,994

  • 19 · Deferred revenue

    beginning of year $376,087 · end of year $376,087

  • 21 · Escrow or custodial account liability

    beginning of year $18,954 · end of year $23,322

  • 23 · Secured mortgages and notes payable

    beginning of year $1,073,908 · end of year $228,709

  • 25 · Other liabilities

    beginning of year $0 · end of year $569,751

  • 27 · Net assets without donor restrictions

    beginning of year $1,422,823 · end of year $1,202,219

  • 28 · Net assets with donor restrictions

    beginning of year $187,074 · end of year $308,461

Mission and programs · 2023

Mission

THE GRANDMONT ROSEDALE DEVELOPMENT CORPORATION IS A NON-PROFIT, COMMUNITY-BASED ORGANIZATION WORKING TO PRESERVE AND IMPROVE THE GRANDMONT ROSEDALE NEIGHBORHOODS OF NORTHWEST DETROIT. WE TAKE A COMPREHENSIVE APPROACH TO COMMUNITY REVITALIZATION, WITH PROGRAMS DESIGNED TO RENOVATE VACANT HOMES, ASSIST LOCAL HOMEOWNERS AND BUSINESSES, BEAUTIFY OUR COMMUNITY AND KEEP OUR NEIGHBORHOODS SAFE AND VIBRANT.

  • HOUSING: GRDC ORGANIZES REVITALIZATION STRATEGIES DESIGNED TO MEET THE HOUSING NEEDS OF OUR COMMUNITY. THIS INCLUDES ACQUISITION AND RESALE OR LEASE OF SINGLE- FAMILY HOMES AND MULTI-FAMILY APARTMENT BUILDINGS. IT ALSO INVOLVES PROVIDING HOME REPAIR ASSISTANCE TO HOMEOWNERS IN NEED. IN 2023, GDC RENOVATED OF A 35-UNIT APARTMENT COMPLEX ON WEST OUTER DRIVE IN DETROIT MICHIGAN. THE ORGANIZATION ALSO COMPLETED SEVERAL DOZEN HOME REPAIR PROJECTS.

    Expenses $547,764 · Revenue $316,804

  • COMMUNITY ENGAGEMENT: GRDC'S COMMUNITY ENGAGEMENT PROGRAMMING INVOLVES SOLICITING FEEDBACK FROM NEIGHBORHOOD RESIDENTS ABOUT TOPICS OF THEIR CONCERN AND ORGANIZING RESIDENTS AND VOLUNTEERS IN COLLECTIVE ACTION. IN 2023, GRDC COMPLETED FOUR BEAUTIFICATION PROJECTS AT VACANT LOTS OWNED BY THE ORGANIZATION THAT INCLUDED CLEAN-UPS AND PLANTINGS OF FLOWERS AND TREES.

    Expenses $394,515

  • ECONCOMIC DEVELOPMENT: GRDC'S ECONOMIC DEVELOPMENT PROGRAMMING IS DESIGNED TO PROVIDE COMMERCIAL STABILIZATION AND SMALL BUSINESS SUPPORT. IN 2023, GRDC HOSTED SEVERAL SMALL BUSINESS EVENTS INCLUDING SMALL BUSINESS SATURDAY, A JUNETEENTH CELEBRATION, AND THE 18TH SEASON OF THE NORTHWEST DETROIT FARMERS' MARKET. THE ORGANIZATION ALSO PROVIDE ONE-ON-ONE BUSINESS SUPPORT AND OWN AND OPERATE A CO-WORKING SPACE, GRAND RIVER WORKPLACE, WHICH SERVES MORE THAN 35 BUSINESS MEMBERS.

    Expenses $272,219 · Revenue $4,441

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dale Thompson

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Desirae Tolbert

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Alexander Derdelakos

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Annie Mae Holt

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Kevin Johnson

    EXECUTIVE COMMITTEE

    Total calculated
    $0
    Hours/week
    1

  • William Frey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tom Goddeeris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Vicki Holmes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ivan Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Renee Kent

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cheryl Minniefield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Denise Sellers-Cole

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carla White-Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Wolfe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Randall

    EXECUTIVE DIRECTOR

    Total calculated
    $97,600
    From this org
    $97,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GRANDMONT ROSEDALE PARK

    COMMUNITY REVITALIZATION · MI · income $0 · assets $0

    Directly controlled by GRANDMONT ROSEDALE DEVELOPMENT CORPORATION

  • PARK COLLECTIVE LLC

    AFFORDABLE HOUSING · MI · income -$1 · assets -$1,549,111

    Directly controlled by GRANDMONT ROSEDALE DEVELOPMENT CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202403179349303075

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