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← DMC FOUNDATION

Form 990 for tax year 2023

Filed by DMC FOUNDATION.

Totals

Total revenue
$2,506,181
Total expenses
$3,735,649
Contributions and grants received
$516,613
Grants paid
$2,515,151
Program service revenue
$0
Investment income
$1,989,046
Other revenue
$522
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$2,755,945
Management and general expenses
$979,704
Fundraising expenses
$0
Program service expenses (Part III)
$2,755,945

Program services were 73.8% 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.

  • 1f · All other contributions, gifts and grants

    $516,613

  • 3 · Investment income

    total $1,560,982 · unrelated business $873 · excluded $1,560,109

  • 7a · Gross sales of assets other than inventory

    securities $60,198,023

  • 7b · Less cost or other basis and sales expenses

    securities $59,769,959

  • 7c · Gain or loss

    securities $428,064

  • 7d · Net gain or loss

    total $428,064 · excluded $428,064

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $522 · excluded $522

  • 11e · Other revenue, total

    $522

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,515,151 · program services $2,515,151

  • 11f · Fees: investment management

    total $525,971 · management and general $525,971

  • 11g · Fees: other

    total $687,982 · program services $240,794 · management and general $447,188

  • 24a · Other expenses: RELATED PARTY ALLOC EXP

    total $6,545 · management and general $6,545

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,194 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $12,015,073 · end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $13,962,110 · end of year $0

  • 12 · Investments: other securities

    beginning of year $45,945,352 · end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $2,493 · end of year $0

  • 18 · Grants payable

    beginning of year $225,323 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $71,700,899 · end of year $0

Mission and programs · 2023

Mission

THE PURPOSE OF THE FOUNDATION IS TO OPERATE EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC AND EDUCATIONAL PURPOSES INCLUDING TO PROMOTE THE WELFARE OF THE GENERAL PUBLIC THROUGH THE SUPPORT OF RESEARCH, EDUCATION, AND COMMUNITY BENEFIT ACTIVITIES SUCH AS THE ENCOURAGEMENT AND FACILITATION OF THE PROVISION OF MEDICAL, HEALTH CARE, AND DISEASE PREVENTION SERVICES TO INDIGENT, UNDERSERVED AND OTHER INDIVIDUALS, WITH EMPHASIS ON BENEFITTING INDIVIDUALS AND FAMILILES LOCATED IN THE METROPOLITAN DETROIT AREA INCLUDING, BUT NOT LIMITED TO, INDIVIDUALS AND FAMILIES RECEIVING CARE AND TREATMENT AT DETROIT MEDICAL CENTER INSTITUTIONS, SUCH AS CHILDREN'S HOSPITAL, RECEIVING HOSPITAL, SINAI-GRACE HOSPITAL, HARPER UNIVERSITY HOSPITAL, HUTZEL WOMEN'S HOSPITAL, KRESGE EYE INSTITUTE, HURON VALLEY-SINAI HOSPITAL AND REHABILITATION INSTITUTE OF MICHIGAN.

Activities or mission (Part I)

THE DMC FOUNDATION IS DEDICATED TO PROMOTING THE WELFARE OF THE GENERAL PUBLIC THROUGH THE SUPPORT OF RESEARCH, EDUCATION AND COMMUNITY BENEFIT ACTIVITIES.

  • SUPPORT OF HEALTH-RELATED RESEARCH, EDUCATION AND COMMUNITY BENEFIT ACTIVITIES.

    Expenses $2,755,945 · Grants $2,515,151

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

Listed in Part VII

  • Richard L Devore

    CHAIR (BEG 07/23)/DIRECTOR/PRESIDENT

    Total calculated
    $690,131
    From this org
    $0
    From related orgs
    $638,226
    Other
    $51,905
    Hours/week
    3.5 + 45.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $625,916 related
    Bonus
    $0 + $2,500 related
    Other
    $0 + $9,810 related
    Deferred
    $0 + $31,619 related
    Nontaxable benefits
    $0 + $20,286 related
    Filer's total
    $0 + $690,131 related

  • Henry M Grix

    TREASURER (END 06/23)

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Jack Martin

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Lorna L Thomas MD

    CHAIR (END 06/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Allan D Gilmour

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1.5 related

  • James B Nicholson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 3 related

  • Joann Chavez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Mary Stephens Ferris

    DIRECTOR (END 06/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Paul C Hillegonds

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Phyllis D Meadows

    DIRECTOR (END 06/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Rhonda D Welburn

    DIRECTOR (END 06/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Robert P Lisak MD

    DIRECTOR (END 06/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Robin D Ferriby

    DIRECTOR (END 06/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Wendy Batiste-Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • William F Pickard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Jenilyn Norman

    TREASURER (BEG 09/23)

    Total calculated
    $279,354
    From this org
    $0
    From related orgs
    $244,708
    Other
    $34,646
    Hours/week
    0.5 + 50.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $244,258 related
    Bonus
    $0
    Other
    $0 + $450 related
    Deferred
    $0 + $25,032 related
    Nontaxable benefits
    $0 + $9,614 related
    Filer's total
    $0 + $279,354 related

  • Matthew J Lewis

    SECRETARY

    Total calculated
    $181,762
    From this org
    $0
    From related orgs
    $153,949
    Other
    $27,813
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $148,679 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $270 related
    Deferred
    $0 + $15,530 related
    Nontaxable benefits
    $0 + $12,283 related
    Filer's total
    $0 + $181,762 related

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

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.

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.

  • LEGACY ENTITY LLC

    ESTABLISHED TO COLLECT & ADMINISTER FUTURE BEQUESTS · MI

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202433209349319543

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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