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Nonprofiteer
← GRANDMONT ROSEDALE DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by GRANDMONT ROSEDALE DEVELOPMENT CORPORATION.

Totals

Total revenue
$4,246,385
Total expenses
$2,205,049
Contributions and grants received
$2,027,572
Grants paid
$4,000
Program service revenue
$2,108,115
Investment income
$74,410
Other revenue
$36,288
Total assets, end of year
$4,658,609
Total liabilities, end of year
$1,106,593
Net assets or fund balances, end of year
$3,552,016
Program services expenses (Part IX)
$2,055,382
Management and general expenses
$128,240
Fundraising expenses
$21,427
Program service expenses (Part III)
$2,055,382

Program services were 93.2% 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)

    $515,000

  • 1f · All other contributions, gifts and grants

    $1,512,572

  • 2a · Program service revenue: TENANT ASSISTANCE

    total $1,060,760 · related or exempt $1,060,760

  • 2b · Program service revenue: DEVELOPER FEE

    total $912,974 · related or exempt $912,974

  • 2c · Program service revenue: RENTAL INCOME

    total $129,090 · related or exempt $129,090

  • 2d · Program service revenue: FARMERS MARKET

    total $5,291 · related or exempt $5,291

  • 3 · Investment income

    total $74,410 · excluded $74,410

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $33,738 · related or exempt $33,738

  • 11b · Other revenue: MANAGEMENT FEE INCOME

    total $2,550 · related or exempt $2,550

  • 11e · Other revenue, total

    $36,288

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $4,000 · program services $4,000

  • 5 · Compensation of officers, directors and key employees

    total $95,769 · program services $86,724 · management and general $7,236 · fundraising $1,809

  • 7 · Other salaries and wages

    total $398,371 · program services $360,747 · management and general $30,098 · fundraising $7,526

  • 9 · Other employee benefits

    total $44,913 · program services $40,422 · management and general $3,593 · fundraising $898

  • 10 · Payroll taxes

    total $38,889 · program services $35,001 · management and general $3,111 · fundraising $777

  • 11b · Fees: legal

    total $12,800 · program services $12,800

  • 11c · Fees: accounting

    total $54,697 · management and general $54,697

  • 11g · Fees: other

    total $425,972 · program services $425,972

  • 12 · Advertising and promotion

    total $2,333 · program services $2,302 · management and general $2 · fundraising $29

  • 13 · Office expenses

    total $96,138 · program services $73,701 · management and general $20,909 · fundraising $1,528

  • 16 · Occupancy

    total $120,523 · program services $116,205 · management and general $3,452 · fundraising $866

  • 17 · Travel

    total $14,227 · program services $13,275 · management and general $761 · fundraising $191

  • 19 · Conferences, conventions and meetings

    total $9,896 · program services $9,896

  • 20 · Interest

    total $14,970 · program services $14,651 · management and general $255 · fundraising $64

  • 22 · Depreciation, depletion and amortization

    total $52,143 · program services $49,329 · management and general $2,252 · fundraising $562

  • 23 · Insurance

    total $27,455 · program services $25,114 · management and general $1,874 · fundraising $467

  • 24a · Other expenses: DIRECT PROGRAM COSTS

    total $781,369 · program services $781,369

  • 24b · Other expenses: FUNDRAISING EXPENSE

    total $6,710 · fundraising $6,710

  • 24c · Other expenses: OTHER FINANCIAL EXPENSE

    total $3,874 · program services $3,874

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $411,159 · end of year $286,544

  • 2 · Savings and temporary cash investments

    end of year $1,008,842

  • 3 · Pledges and grants receivable

    beginning of year $208,704 · end of year $227,268

  • 7 · Other notes and loans receivable

    beginning of year $200,728 · end of year $722,668

  • 8 · Inventories for sale or use

    beginning of year $59,838 · end of year $152,431

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,496 · end of year $30,343

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

    $1,919,883

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

    $570,650

  • 10c · Land, buildings and equipment, net

    beginning of year $1,707,618 · end of year $1,349,233

  • 15 · Other assets

    beginning of year $215,000 · end of year $881,280

  • 17 · Accounts payable and accrued expenses

    beginning of year $101,994 · end of year $91,517

  • 19 · Deferred revenue

    beginning of year $376,087

  • 21 · Escrow or custodial account liability

    beginning of year $23,322 · end of year $32,448

  • 23 · Secured mortgages and notes payable

    beginning of year $228,709 · end of year $464,205

  • 25 · Other liabilities

    beginning of year $569,751 · end of year $518,423

  • 27 · Net assets without donor restrictions

    beginning of year $1,202,219 · end of year $1,882,634

  • 28 · Net assets with donor restrictions

    beginning of year $308,461 · end of year $1,669,382

Mission and programs · 2024

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 2024, GRDC FINISHED RENOVATING A 35-UNIT APARTMENT COMPLEX ON WEST OUTER DRIVE IN DETROIT MICHIGAN. THE ORGANIZATION ALSO COMPLETED SEVERAL DOZEN HOME REPAIR PROJECTS.

    Expenses $927,020 · Revenue $2,139,112

  • COMMUNITY INVOLVEMENT: 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 2024, GRDC COMPLETED 11 BEAUTIFICATION PROJECTS AT VACANT LOTS OWNED BY THE ORGANIZATION THAT INCLUDED CLEAN-UPS AND MAINTENANCE OF FLOWERS AND TREES.

    Expenses $667,666

  • ECONCOMIC DEVELOPMENT: GRDC'S ECONOMIC DEVELOPMENT PROGRAMMING IS DESIGNED TO PROVIDE COMMERCIAL STABILIZATION AND SMALL BUSINESS SUPPORT. IN 2024, GRDC HOSTED SEVERAL SMALL BUSINESS EVENTS INCLUDING SMALL BUSINESS SATURDAY, AND THE 20TH SEASON OF THE NORTHWEST DETROIT FARMERS' MARKET. THE ORGANIZATION ALSO PROVIDES ONE-ON-ONE BUSINESS SUPPORT AND OWNS AND OPERATES A CO-WORKING SPACE, GRAND RIVER WORKPLACE, WHICH SERVES MORE THAN 35 BUSINESS MEMBERS.

    Expenses $460,696 · Grants $4,000 · Revenue $5,291

As filed on the 2024 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

  • Maurice Hood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Randall

    EXECUTIVE DIRECTOR

    Total calculated
    $95,769
    From this org
    $93,967
    From related orgs
    $0
    Other
    $1,802
    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 COLLECTIVE LLC

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

    Directly controlled by GRANDMONT ROSEDALE DEVELOPMENT CORPORATION

  • MINOCK COMMERICAL LLC

    AFFORDABLE HOUSING · MI · income $0 · assets $0

    Directly controlled by GRANDMONT ROSEDALE DEVELOPMENT CORPORATION

  • GRANDMONT ROSEDALE AUBURN LLC

    AFFORDABLE HOUSING · MI · income $0 · assets $0

    Directly controlled by GRANDMONT ROSEDALE DEVELOPMENT CORPORATION

  • GRDC MINOCK LLC

    AFFORDABLE HOUSING · MI · income $0 · assets $0

    Directly controlled by GRANDMONT ROSEDALE DEVELOPMENT CORPORATION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • GRDC 4 LIMITED DIVIDEND HOUSING ASSOCIATION LP

    AFFORDABLE HOUSING · MI

  • GRPC 4 LIMITED DIVIDEND HOUSING ASSOCIATION LP

    AFFORDABLE HOUSING · MI

  • MINOCK PARK 4 GP LLC

    AFFORDABLE HOUSING · MI

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • PARK COLLECTIVE LLC

    C · AFFORDABLE HOUSING · MI · 100% owned · controlled entity

    Directly controlled by GRANDMONT ROSEDALE DEVELOPMENT CORPORATION

Provenance

Return type
form_990
Tax year
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202543109349304624

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