Totals
- Total revenue
- $32,419,547
- Total expenses
- $22,165,504
- Contributions and grants received
- $23,956,993
- Grants paid
- $766,460
- Program service revenue
- $6,447,619
- Investment income
- $2,014,935
- Other revenue
- $0
- Total assets, end of year
- $208,587,430
- Total liabilities, end of year
- $64,115,511
- Net assets or fund balances, end of year
- $144,471,919
- Program services expenses (Part IX)
- $17,209,196
- Management and general expenses
- $4,956,308
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $17,209,196
Program services were 77.6% 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)
$5,657,748
-
1f · All other contributions, gifts and grants
$18,299,245
-
1g · Noncash contributions included above
$692,513
-
2a · Program service revenue: LOAN INTEREST INCOME
total $3,186,179 · related or exempt $3,186,179
-
2b · Program service revenue: ADMINISTRATIVE FEES
total $2,667,133 · related or exempt $2,667,133
-
2c · Program service revenue: LOAN TRANSACTION FEES
total $594,307 · related or exempt $594,307
-
3 · Investment income
total $2,014,935 · excluded $2,014,935
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $766,460 · program services $766,460
-
5 · Compensation of officers, directors and key employees
total $876,096 · program services $525,658 · management and general $350,438
-
7 · Other salaries and wages
total $7,151,091 · program services $4,290,655 · management and general $2,860,436
-
9 · Other employee benefits
total $110,195 · program services $66,117 · management and general $44,078
-
10 · Payroll taxes
total $536,549 · program services $321,929 · management and general $214,620
-
11b · Fees: legal
total $274,784 · management and general $274,784
-
11c · Fees: accounting
total $80,800 · management and general $80,800
-
11g · Fees: other
total $1,040,163 · program services $809,260 · management and general $230,903
-
12 · Advertising and promotion
total $137,467 · management and general $137,467
-
14 · Information technology
total $208,552 · management and general $208,552
-
16 · Occupancy
total $106,137 · management and general $106,137
-
19 · Conferences, conventions and meetings
total $67,189 · management and general $67,189
-
20 · Interest
total $948,523 · program services $948,523
-
22 · Depreciation, depletion and amortization
total $174,390 · management and general $174,390
-
23 · Insurance
total $79,811 · management and general $79,811
-
24a · Other expenses: LOAN & GRANT LOSS RESER
total $7,794,852 · program services $7,794,852
-
24b · Other expenses: MCCF PROGRAM
total $644,722 · program services $644,722
-
24c · Other expenses: NEI NETWORK DIRECTOR PR
total $637,055 · program services $510,352 · management and general $126,703
-
24d · Other expenses: VENTURE PROGRAM
total $243,839 · program services $243,839
-
24e · All other expenses
total $286,829 · program services $286,829
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,268,274 · end of year $4,939,112
-
2 · Savings and temporary cash investments
beginning of year $39,329,396 · end of year $22,531,817
-
3 · Pledges and grants receivable
beginning of year $5,938,055 · end of year $8,203,249
-
4 · Accounts receivable
beginning of year $3,344,218 · end of year $7,727,692
-
7 · Other notes and loans receivable
beginning of year $70,267,840 · end of year $80,888,663
-
9 · Prepaid expenses and deferred charges
beginning of year $13,826 · end of year $45,941
-
10a · Land, buildings and equipment: cost or other basis
$7,797,113
-
10b · Land, buildings and equipment: accumulated depreciation
$485,016
-
10c · Land, buildings and equipment, net
beginning of year $257,750 · end of year $7,312,097
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $25,462,335
-
12 · Investments: other securities
beginning of year $61,566,559 · end of year $50,377,851
-
13 · Investments: program-related
beginning of year $1,550,988 · end of year $857,397
-
15 · Other assets
beginning of year $0 · end of year $241,276
-
17 · Accounts payable and accrued expenses
beginning of year $3,059,320 · end of year $1,688,413
-
18 · Grants payable
beginning of year $11,123,729 · end of year $6,115,301
-
19 · Deferred revenue
beginning of year $1,545,527 · end of year $355,635
-
24 · Unsecured notes and loans payable
beginning of year $34,442,943 · end of year $51,382,475
-
25 · Other liabilities
beginning of year $0 · end of year $4,573,687
-
27 · Net assets without donor restrictions
beginning of year $103,720,239 · end of year $105,647,428
-
28 · Net assets with donor restrictions
beginning of year $32,645,148 · end of year $38,824,491
Mission and programs · 2024
Mission
IDF PROMOTES A HIGHER QUALITY OF LIFE FOR DISTRESSED COMMUNITIES, PRIMARILY IN THE CITY OF DETROIT THROUGH ATTRACTING NEW INDUSTRY, ENCOURAGING THE DEVELOPMENT OF BUSINESS, HOUSING, TRANSPORTATION AND OTHER COMMUNITY RESOURCES. IDF PROVIDES LOANS AND FINANCIAL ASSISTANCE TO PROMOTE COMMUNITY DEVELOPMENT AND COMBAT COMMUNITY DETERIORATION AND ECONOMIC BLIGHT.
Activities or mission (Part I)
THE IDF LOAN PROGRAMS PROVIDE FUNDING, GENERALLY IN THE FORM OF LOANS, TO QUALIFIED APPLICANTS TO ENCOURAGE REVITALIZATION AND DEVELOPMENT. IN CONCERT WITH OPERATING THE LOAN PROGRAMS, IDF ALSO CONDUCTS PROGRAMMATIC ACTIVITIES THAT INCLUDE PLANNING, SPEARHEADING AND DEVELOPING STRATEGIES FOR URBAN REVITALIZATION.
-
SUPPORTING DETROIT ECONOMIC DEVELOPMENT THROUGH REAL ESTATE AND SMALL BUSINESS SUPPORT.
Expenses $13,648,808 · Grants $603,254 · Revenue $5,901,162
-
SUPPORTING HIGH TECH AND ENTREPRENEUR ACTIVITY.
Expenses $1,442,610 · Revenue $407,231
-
SUPPORTING INCLUSIVE NEIGHBORHOOD REVITALIZATION THROUGH STRATEGIC INTERVENTIONS.
Expenses $2,117,778 · Grants $163,206 · Revenue $139,226
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Matthew P CullenMATTHEW P CULLEN
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Roderick D GillumRODERICK D GILLUM
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Joann ChavezJOANN CHAVEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Antoine M Garibaldi PhDANTOINE M GARIBALDI PHD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Wendy Lewis JacksonWENDY LEWIS JACKSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Donald KunzDONALD KUNZ
CORPORATE DEPARTMENT CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Charles G McClureCHARLES G MCCLURE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dan NissenbaumDAN NISSENBAUM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chris RizikCHRIS RIZIK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Alan S SchwartzALAN S SCHWARTZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Laura TrudeauLAURA TRUDEAU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Larry Brinker JrLARRY BRINKER JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael LandMICHAEL LAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brenda LawrenceBRENDA LAWRENCE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Paul MozakPAUL MOZAK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Richard A ManoogianRICHARD A MANOOGIAN
DIRECTOR - PART YEAR
- Total calculated
- $0
- Hours/week
- 1
-
David BlaszkiewiczDAVID BLASZKIEWICZ
PRESIDENT & CEO
- Total calculated
- $575,334
- From this org
- $454,305
- From related orgs
- $0
- Other
- $121,029
- Hours/week
- 30 + 10 related
Schedule J breakdown matched by us
- Base
- $404,305
- Bonus
- $50,000
- Other
- $0
- Deferred
- $90,700
- Nontaxable benefits
- $30,329
- Filer's total
- $575,334
-
Carrie Lewand-MonroeCARRIE LEWAND-MONROE
CHIEF OPERATING OFFICER
- Total calculated
- $292,311
- From this org
- $265,209
- From related orgs
- $0
- Other
- $27,102
- Hours/week
- 30 + 10 related
Schedule J breakdown matched by us
- Base
- $241,209
- Bonus
- $24,000
- Other
- $0
- Deferred
- $5,340
- Nontaxable benefits
- $21,762
- Filer's total
- $292,311
-
Amber GladneyAMBER GLADNEY
ASSISTANT SECRETARY
- Total calculated
- $173,354
- From this org
- $156,582
- From related orgs
- $0
- Other
- $16,772
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $141,582
- Bonus
- $15,000
- Other
- $0
- Deferred
- $9,278
- Nontaxable benefits
- $7,494
- Filer's total
- $173,354
-
Paul TrulikPAUL TRULIK
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Patricia GlazaPATRICIA GLAZA
EXECUTIVE VICE PRESIDENT, VENTURE
- Total calculated
- $304,143
- From this org
- $261,877
- From related orgs
- $0
- Other
- $42,266
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $237,877
- Bonus
- $24,000
- Other
- $0
- Deferred
- $15,658
- Nontaxable benefits
- $26,608
- Filer's total
- $304,143
-
Keona CowanKEONA COWAN
CHIEF LENDING OFFICER
- Total calculated
- $305,619
- From this org
- $261,710
- From related orgs
- $0
- Other
- $43,909
- Hours/week
- 30 + 10 related
Schedule J breakdown matched by us
- Base
- $237,710
- Bonus
- $24,000
- Other
- $0
- Deferred
- $16,229
- Nontaxable benefits
- $27,680
- Filer's total
- $305,619
-
Martin DoberMARTIN DOBER
SENIOR VICE PRESIDENT, VENTURE
- Total calculated
- $253,044
- From this org
- $214,645
- From related orgs
- $0
- Other
- $38,399
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $193,645
- Bonus
- $21,000
- Other
- $0
- Deferred
- $12,066
- Nontaxable benefits
- $26,333
- Filer's total
- $253,044
-
Danielle GraceffaDANIELLE GRACEFFA
GENERAL COUNSEL
- Total calculated
- $279,722
- From this org
- $243,153
- From related orgs
- $0
- Other
- $36,569
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $219,153
- Bonus
- $24,000
- Other
- $0
- Deferred
- $14,644
- Nontaxable benefits
- $21,925
- Filer's total
- $279,722
-
Jamie GearyJAMIE GEARY
CHIEF ACCOUNTING OFFICER
- Total calculated
- $237,271
- From this org
- $210,416
- From related orgs
- $0
- Other
- $26,855
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $185,416
- Bonus
- $25,000
- Other
- $0
- Deferred
- $9,381
- Nontaxable benefits
- $17,474
- Filer's total
- $237,271
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
- 7 · Other non-fixed payments
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 4B
- ELIGIBLE EMPLOYEES PARTICIPATE IN A NONQUALIFIED DEFERRED COMPENSATION PLAN ORGANIZED UNDER CODE SECTION 457(F). THE PURPOSE OF THE PLAN IS TO PROVIDE A RETENTION INCENTIVE AND A VEHICLE BY WHICH TO SUPPLEMENT TAX DEFERRED RETIREMENT SAVINGS FOR THE PARTICIPANTS. ANY AMOUNT ULTIMATELY PAID UNDER THE PROGRAM TO THE EMPLOYEE IS REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B IN THE YEAR PAID. DAVID BLASZKIEWICZ PARTICPATES IN THE DEFERRED COMPENSATION PLAN, NO AMOUNTS WERE PAID OUT DURING 2024.
- PART I, LINE 7
- INVEST DETROIT FOUNDATION HAS AN INCENTIVE PLAN BASED ON THE ORGANIZATIONS PERFORMANCE DURING THE YEAR AND THEN THE EMPLOYEES PERFORMANCE. IF THE ORGANIZATION HITS ITS BUDGET AND STRATEGIC PLAN METRICS THEN THE BOARD OF DIRECTORS APPROVES THE BONUS POOL. THE BOARD OF DIRECTORS HAS FINAL DISCRETION ON THE BONUS PAID TO THE CEO. THE CEO AND BOARD CHAIR REVIEW AND HAVE FINAL DISCRETION ON ALL OTHER EMPLOYEE BONUSES.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
$178,300
DEXTER FACADE PROGRAM (LIFE REMODELED) SPARK GRANT
-
$91,316
MAPLERIDGE DUPLEX (G7) REHAB PROJECT GRANT
-
CITY OF DETROIT
$82,050
DEXTER WAYFINDING GRANT
-
$54,329
E. WARREN FEST 2024 - COMMUNITY ENGAGEMENT GRANT
-
$50,000
DETROIT CDFI COALITION GRANT, FROM INCOMING GRANTS 1/2 FROM KRESGE AND 1/2 FROM HW
-
$35,700
G7 PAVILLION SPARK GRANT
-
$25,000
PASSTHRU GRANT FROM THE KRESGE FOUNDATION FOR MI CDFI COALITION
-
$25,000
GREATER DETROIT WINDSOR PROJECT PASSTHRU GRANT OF HUDSON WEBBER GOS
-
$15,840
SNF COMMUNITY ENGAGMENT - PLAN MURAL AND ACTIVITIES
-
$14,960
SNF COMMUNITY ENGAGEMENT GRANT
The 10 largest by cash amount. The API serves every itemized grant.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(4) · LOAN FUND · MI · controlled entity
Directly controlled by DETROIT DEVELOPMENT VENTURES INC
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.
-
IDV L3C
LOAN FUND · MI · income -$288,303 · assets $25,593,190
Directly controlled by INVEST DETROIT FOUNDATION
-
CHASE INVEST DETROIT FUND L3C
LOAN FUND · MI · income $1,585,671 · assets $29,794,211
Directly controlled by INVEST DETROIT FOUNDATION
-
IDF REAL ESTATE HOLDING LLC
REAL ESTATE DEVELOPMENT · MI · income -$2,149,965 · assets $1,972,586
Directly controlled by INVEST DETROIT FOUNDATION
-
RE MCNICHOLS LLC
REAL ESTATE DEVELOPMENT · MI · income $15,083 · assets $913,618
Directly controlled by INVEST DETROIT FOUNDATION
-
EBIARA DEVELOPER FUND I LLC
LOAN FUND · MI · income $307,711 · assets $5,746,319
Directly controlled by INVEST DETROIT FOUNDATION
-
ID DEV CO LLC
REAL ESTATE DEVELOPMENT · MI · income $31,719 · assets $1,641,719
Directly controlled by INVEST DETROIT FOUNDATION
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
KERCHEVAL ASSOCIATES LLC
N/A · REAL ESTATE DEVELOPMENT · MI · 45% owned
Directly controlled by KERCHEVAL ASSOCIATES II LLC
-
KERCHEVAL ASSOCIATES II
N/A · REAL ESTATE DEVELOPMENT · MI · 50% owned · share of income -$2,181,313 · share of assets $1,601,166
-
COMMUNITY CAPITAL EQUITY LLC
N/A · REAL ESTATE DEVELOPMENT · MI · 33% owned · share of income -$358,043 · share of assets $1,597,481
-
ID MDI LLC
REAL ESTATE DEVELOPMENT · MI
-
INDUSTRY DETROIT QOZB LLC
REAL ESTATE DEVELOPMENT · MI
-
DETROIT INVESTMENT FUND LP
PRIVATE SECTOR FINANCING · MI
-
DETROIT INNOVATE FUND I LP
N/A · PRIVATE SECTOR FINANCING · MI · 70.22% owned · share of income -$280,819 · share of assets $4,571,351
Directly controlled by DETROIT INNOVATE GP LLC
-
RENAISSANCE VENTURE CAPITAL FUND I LP
N/A · VENTURE CAPITAL · MI · 2% owned · share of income -$11,237 · share of assets $280,688
-
DETROIT INNOVATE GP LLC
N/A · HOLDING COMPANY (GENERAL PARTNER OF DILP) · MI
Directly controlled by DETROIT DEVELOPMENT VENTURES INC
-
DETROIT INNOVATION DISTRICT FUND LLC
N/A · REAL ESTATE DEVELOPMENT · MI · 50% owned
-
DETROIT INVESTMENT FUND REAL ESTATE VENTURES LLC
N/A · HOLDS REAL ESTATE EQUITY INVESTMENTS · MI
-
ID CDE 13 LLC
PROVIDE QLICI'S · MI
-
ID CDE 14 LLC
PROVIDE QLICI'S · MI
-
ID CDE 15 LLC
PROVIDE QLICI'S · MI
-
ID CDE 16 LLC
PROVIDE QLICI'S · MI
-
ID CDE 17 LLC
PROVIDE QLICI'S · MI
-
ID CDE 18 LLC
PROVIDE QLICI'S · MI
-
IDV FUND IV LLC
N/A · PRIVATE SECTOR FINANCING · MI · 66.19% owned · share of income -$80,297 · share of assets $4,311,568
Directly controlled by IDV L3C
-
INDUSTRY DETROIT LEVERAGE LENDER
N/A · NMTC SPE · MI · 99% owned · share of assets $1,578,447
-
ID CDE 19 LLC
PROVIDE QLICI'S · MI
-
ID CDE 20 LLC
PROVIDE QLICI'S · MI
-
ID CDE 21 LLC
PROVIDE QLICI'S · MI
-
SELDEN LLC
N/A · REAL ESTATE DEVELOPMENT · MI · 50% owned · share of income $17,053 · share of assets $496,881 · general or managing partner
Directly controlled by INVEST DETROIT FOUNDATION
-
SELDEN II LLC
N/A · REAL ESTATE DEVELOPMENT · MI · 50% owned · share of income $38,991 · share of assets $155,667 · general or managing partner
Directly controlled by INVEST DETROIT FOUNDATION
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
DETROIT DEVELOPMENT VENTURES INC
C · HOLDING COMPANY (GENERAL PARTNER OF DIF) · MI · 100% owned · share of income -$9,676 · share of assets $359,836 · controlled entity
Directly controlled by INVEST DETROIT FOUNDATION
-
ID AH I L3C
C · LOAN FUND · MI · 100% owned · share of income $9,444 · share of assets $526,099 · controlled entity
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 6 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202543119349301339
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.