Skip to content
Nonprofiteer
← WAYNE COUNTY-DETROIT CDE INC

Form 990 for tax year 2022

Filed by WAYNE COUNTY-DETROIT CDE INC.

Totals

Total revenue
$10,465
Total expenses
$39,500
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$1,300
Other revenue
$9,165
Total assets, end of year
$4,627,117
Total liabilities, end of year
$2,017,223
Net assets or fund balances, end of year
$2,609,894
Program services expenses (Part IX)
$39,500
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$39,500

Program services were 100.0% 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.

  • 3 · Investment income

    total $1,300 · related or exempt $1,300

  • 11a · Other revenue: LOSS REVENUE ON SMALL BUSINES

    total $9,165 · related or exempt $9,165

  • 11e · Other revenue, total

    $9,165

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $2,000 · program services $2,000

  • 11g · Fees: other

    total $15,000 · program services $15,000

  • 24a · Other expenses: LOAN WRITE OFFS

    total $16,978 · program services $16,978

  • 24b · Other expenses: MISCELLANEOUS

    total $5,522 · program services $5,522

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,608,116 · end of year $4,614,581

  • 7 · Other notes and loans receivable

    beginning of year $33,250 · end of year $7,101

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,025 · end of year $1,108

  • 15 · Other assets

    beginning of year $9,761 · end of year $4,327

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,923 · end of year $5,923

  • 25 · Other liabilities

    beginning of year $2,011,300 · end of year $2,011,300

  • 27 · Net assets without donor restrictions

    beginning of year $2,638,929 · end of year $2,609,894

Mission and programs · 2022

Mission

TO PROVIDE FOR THE REVITALIZATION OF LOW INCOME COMMUNITIES BY CREATING COMMUNITY, ECONOMIC AND SERVICE PROGRAMS WHICH WILL ASSIST IN THE REDEVELOPMENT OF LOW INCOME NEIGHBORHOODS AND COMMUNITIES, BY ATTRACTING PRIVATE AND/OR PUBLIC INVESTORS WHICH WILL REBUILD NEIGHBORHOODS AND CREATE JOBS TO BENEFIT THSE LOW INCOME COMMUNITIES AND/OR LOW INDIVIDUALS IN WAYNE COUNTY, DETROIT MICHIGAN, THIS WILL BE ACCOMPLISHED BY FACILITATING AND DISTRIBUTING INVESTMENT CAPITAL TO LOW INCOME COMMUNITY REDEVELOPMENT PROJECTS.

Activities or mission (Part I)

ESTABLISHED TO ADMINISTER THE FEDERAL NEW MARKETS TAX CREDIT PROGRAM FOR THE PURPOSE OF REVITALIZING LOW INCOME COMMUNITIES BY ATTRACTING PRIVATE AND/OR PUBLIC INVESTORS WHO WILL REBUILD NEIGHBORHOODS.

  • THE ORGANIZATION PROVIDED INVESTMENT CAPITAL THAT WILL BE USED TO REVITALIZE LOW INCOME COMMUNITIES IN WAYNE COUNTY, MICHIGAN. THE ORGANIZATION WAS ALLOCATED NEW MARKET TAX CREDITS AUTHORITY.

    Expenses $39,500

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Hassan Sheikh

    EXECUTIVE DI

    Total calculated
    $222,205
    From this org
    $0
    From related orgs
    $135,000
    Other
    $87,205
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    not reported + $135,000 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $87,205 related
    Filer's total
    not reported + $222,205 related

  • Mathieu Dube

    TREASURER

    Total calculated
    $181,055
    From this org
    $0
    From related orgs
    $110,000
    Other
    $71,055
    Hours/week
    0.3 + 39.7 related

    Schedule J breakdown matched by us

    Base
    not reported + $110,000 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $71,055 related
    Filer's total
    not reported + $181,055 related

  • Yogesh Gusani

    BOARD MEMBER

    Total calculated
    $267,467
    From this org
    $0
    From related orgs
    $162,500
    Other
    $104,967
    Hours/week
    0.3 + 39.7 related

    Schedule J breakdown matched by us

    Base
    not reported + $162,500 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $104,967 related
    Filer's total
    not reported + $267,467 related

  • June Lee

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.3

  • Eva Dewaelsche

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Byna Elliott

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Renee Kent

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Mary Seaberg King

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Aaron Seybert

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

No itemized grants to organizations on this return.

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.

  • WAYNE COUNTY MUNICIPAL GOVERNMENT

    115 · GOVERNMENT · MI

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
15 July 2023
IRS schema version
2022v5.0
Source object
202411979349301191

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.