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Nonprofiteer
← DETROIT REGIONAL CHAMBER FOUNDATION INC

Form 990 for tax year 2024

Filed by DETROIT REGIONAL CHAMBER FOUNDATION INC.

Totals

Total revenue
$18,179,877
Total expenses
$15,285,683
Contributions and grants received
$17,148,034
Grants paid
$697,148
Program service revenue
$974,751
Investment income
$57,092
Other revenue
$0
Total assets, end of year
$7,928,051
Total liabilities, end of year
$1,353,967
Net assets or fund balances, end of year
$6,574,084
Program services expenses (Part IX)
$12,670,925
Management and general expenses
$2,345,293
Fundraising expenses
$269,465
Program service expenses (Part III)
$12,670,925

Program services were 82.9% 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.

  • 1d · Related organizations

    $2,500,000

  • 1f · All other contributions, gifts and grants

    $14,648,034

  • 2a · Program service revenue: ECONOMIC DEVELOPMENT

    total $508,949 · related or exempt $508,949

  • 2b · Program service revenue: LEADERSHIP DETROIT

    total $464,302 · related or exempt $464,302

  • 2c · Program service revenue: MICHAUTO

    total $1,500 · related or exempt $1,500

  • 3 · Investment income

    total $57,092 · excluded $57,092

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $697,148 · program services $697,148

  • 5 · Compensation of officers, directors and key employees

    total $1,669,722 · program services $1,317,289 · management and general $313,858 · fundraising $38,575

  • 7 · Other salaries and wages

    total $3,832,288 · program services $2,661,050 · management and general $1,043,042 · fundraising $128,196

  • 8 · Pension plan contributions

    total $319,079 · program services $224,669 · management and general $79,401 · fundraising $15,009

  • 9 · Other employee benefits

    total $451,900 · program services $318,191 · management and general $112,452 · fundraising $21,257

  • 10 · Payroll taxes

    total $396,769 · program services $311,164 · management and general $75,223 · fundraising $10,382

  • 11c · Fees: accounting

    total $2,815,536 · program services $2,815,536

  • 11g · Fees: other

    total $1,164,716 · program services $1,026,166 · management and general $138,518 · fundraising $32

  • 12 · Advertising and promotion

    total $547,076 · program services $248,073 · management and general $298,089 · fundraising $914

  • 13 · Office expenses

    total $67,319 · program services $51,994 · management and general $15,325

  • 14 · Information technology

    total $291,194 · program services $114,424 · management and general $176,770

  • 16 · Occupancy

    total $130,939 · program services $117,395 · management and general $12,708 · fundraising $836

  • 17 · Travel

    total $24,479 · program services $20,189 · management and general $4,290

  • 19 · Conferences, conventions and meetings

    total $141,215 · program services $106,295 · management and general $34,920

  • 24a · Other expenses: TUITION EXPENSE

    total $2,174,422 · program services $2,174,422

  • 24b · Other expenses: EVENT PRODUCTION

    total $472,312 · program services $415,149 · management and general $16,427 · fundraising $40,736

  • 24c · Other expenses: OTHER

    total $55,106 · program services $41,546 · management and general $32 · fundraising $13,528

  • 24d · Other expenses: SPONSORSHIPS AND DUES

    total $34,463 · program services $10,225 · management and general $24,238

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,486,872 · end of year $2,043,740

  • 4 · Accounts receivable

    beginning of year $1,800,721 · end of year $5,848,846

  • 15 · Other assets

    beginning of year $917,200 · end of year $35,465

  • 17 · Accounts payable and accrued expenses

    beginning of year $33,040 · end of year $5,023

  • 19 · Deferred revenue

    beginning of year $491,863 · end of year $276,150

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,072,794

  • 27 · Net assets without donor restrictions

    beginning of year $182,671 · end of year $802

  • 28 · Net assets with donor restrictions

    beginning of year $3,497,219 · end of year $6,573,282

Mission and programs · 2024

Mission

DETROIT REGIONAL CHAMBER FOUNDATION, INC. (THE "FOUNDATION") IS DEDICATED TO GROWING PROGRAMS OR INITIATIVES THAT ARE IMPORTANT TO ENSURING THE DETROIT REGION'S ECONOMY IS ONE OF THE FASTEST GROWING IN THE U.S.

Activities or mission (Part I)

DETROIT REGIONAL CHAMBER FOUNDATION, INC (THE "FOUNDATION") IS DEDICATED TO GROWING PROGRAMS OR INITIATIVES THAT ARE IMPORTANT TO ENSURING THE DETROIT REGION'S ECONOMY IS ONE OF THE FASTEST GROWING IN THE U.S.

  • THE DETROIT PROMISE IS THE FOUNDATION'S UMBRELLA SCHOLARSHIP FOR ALL INCOMING COLLEGE STUDENTS, INCLUDING FOUR-YEAR UNIVERSITY STUDENTS FORMALLY ENROLLING THROUGH THE DETROIT COMPACT SCHOLARSHIP PROGRAM. THE DETROIT PROMISE IS A FOUNDATION ADMINISTERED PROGRAM FUNDED BY THE DETROIT PROMISE ZONE AUTHORITY ("DPZA"). THE DETROIT PROMISE'S ESSENTIAL RESPONSIBILITY IS TO PROVIDE A LAST-DOLLAR SCHOLARSHIP FOR DETROIT HIGH SCHOOL STUDENTS ENTERING AREA COMMUNITY COLLEGES AND PARTICIPATING FOUR-YEAR UNIVERSITIES. PER STATE OF MICHIGAN STATUTE, THE DPZA IS ALLOCATED A PORTION OF STATE PROPERTY TAXES COLLECTED IN THE CITY OF DETROIT FOR THE EXPRESS PURPOSE OF FUNDING A COLLEGE PROMISE PROGRAM. THE DPZA HAS DESINGATED THE FOUNDATION AS ITS PARTNER TO ADMINISTER THIS PROGRAM AND USES THE TAX CAPTURE REVENUE TO ALLOCATE FUNDING TO THE FOUNDATION TO FUND THE PROGRAM WITHIN THE STATUTE GUIDELINES.

    Expenses $5,300,203 · Grants $365,161

  • MICHAUTO IS MICHIGAN'S ONLY AUTOMOTIVE AND MOBILITY CLUSTER ASSOCIATION TO PROTECT, RETAIN, AND GROW MICHIGAN'S SIGNATURE INDUSTRY WHILE ALSO ENSURING THE STATE'S LEADERSHIP IN ADVANCING THE DEVELOPMENT AND MANUFACTURING OF NEXT-GENERATION MOBILITY TECHNOLOGY.

    Expenses $3,580,912 · Grants $900 · Revenue $1,500

  • THE FOUNDATION LEADS A COMPREHENSIVE EDUCATION AND TALENT PORTFOLIO OF PROGRAM AND POLICY WORK IN THE STATE. WITH THE GOAL TO INCREASE POSTSECONDARY DEGREE ATTAINMENT IN SOUTHEAST MICHIGAN TO 60% BY 2030, THE CHAMBER'S WORK WILL GROW THE TALENT POOL FOR EMPLOYERS.

    Expenses $2,264,855 · Grants $11,556

  • ECONOMIC DEVELOPMENT:THE FOUNDATION'S ECONOMIC PROSPERITY STRATEGY POSITIONS THE DETROIT REGION FOR LONG-TERM GLOBAL COMPETITIVENESS FOR THE NEXT DECADE AND BEYOND. THE WORK IS FUNDED THROUGH CONTRIBUTIONS AND GRANTS FROM CORPORATE DONORS AND PRIVATE PHILANTHROPY. THE STRATEGY IS EXECUTED THROUGH A SERIES OF INITIATIVES ENSURING THE REGION IS EDUCATED, EMPLOYED, HEALTHY, AND LEADING IN NEXT-GENERATION MOBILITY.LEADERSHIP DETROIT:LEADERSHIP DETROIT PROVIDES THE FOUNDATION FOR A LIFELONG COMMITMENT TO LEADERSHIP BY CREATING AWARENESS OF KEY ISSUES THAT AFFECT THE DETROIT REGION AND TO CHALLENGE EMERGING AND EXISTING COMMUNITY LEADERS TO BRING ABOUT POSITIVE CHANGE IN THE COMMUNITY THROUGH INFORMED LEADERSHIP.ECONOMIC EQUITY AND INCLUSION:THE FOUNDATION LEVERAGES ITS POSITION AS A COVENER OF BUSINESS TO ENSURE PERVASIVE AND LONG-TERM CHANGE BOTH SOCIETALLY AND ECONOMICALLY. THIS WORK IS ROOTED IN REFLECTIVE FOCUS ON ACCOUNTABILITY INTERNALLY AND EXTERNALLY THROUGH A COMMITMENT TO ENSURING THE REGION'S EQUITABLE FUTURE.

    Expenses $1,524,955 · Grants $319,531 · Revenue $973,251

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Sandy K Baruah

    PRESIDENT

    Total calculated
    $684,962
    From this org
    $264,301
    From related orgs
    $396,451
    Other
    $24,210
    Hours/week
    15 + 22.5 related

    Schedule J breakdown matched by us

    Base
    $176,021 + $264,031 related
    Bonus
    $83,480 + $125,220 related
    Other
    $4,800 + $7,200 related
    Deferred
    $4,140 + $6,210 related
    Nontaxable benefits
    $5,544 + $8,316 related
    Filer's total
    $273,985 + $410,977 related

  • Karen Belans

    TREASURER

    Total calculated
    $398,055
    From this org
    $135,331
    From related orgs
    $251,330
    Other
    $11,394
    Hours/week
    13 + 24.5 related

    Schedule J breakdown matched by us

    Base
    $95,940 + $178,174 related
    Bonus
    $34,855 + $64,732 related
    Other
    $4,536 + $8,424 related
    Deferred
    $3,623 + $6,728 related
    Nontaxable benefits
    $365 + $678 related
    Filer's total
    $139,319 + $258,736 related

  • Megan Spanitz

    VICE- PRESIDENT, RESOURCE

    Total calculated
    $379,350
    From this org
    $102,906
    From related orgs
    $264,612
    Other
    $11,832
    Hours/week
    11 + 26.5 related

    Schedule J breakdown matched by us

    Base
    $71,804 + $184,638 related
    Bonus
    $26,747 + $68,777 related
    Other
    $4,355 + $11,197 related
    Deferred
    $2,898 + $7,452 related
    Nontaxable benefits
    $415 + $1,067 related
    Filer's total
    $106,219 + $273,131 related

  • Tammy Carnrike

    CHIEF OPERATING OFFICER

    Total calculated
    $459,196
    From this org
    $44,374
    From related orgs
    $399,372
    Other
    $15,450
    Hours/week
    4 + 33.5 related

    Schedule J breakdown matched by us

    Base
    $32,943 + $296,491 related
    Bonus
    $9,876 + $88,884 related
    Other
    $1,555 + $13,997 related
    Deferred
    $1,035 + $9,315 related
    Nontaxable benefits
    $510 + $4,590 related
    Filer's total
    $45,919 + $413,277 related

  • Glenn Stevens

    VICE- PRESIDENT, AUTOMOTIV

    Total calculated
    $295,123
    From this org
    $285,816
    From related orgs
    $0
    Other
    $9,307
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $222,779
    Bonus
    $46,237
    Other
    $16,800
    Deferred
    $9,307
    Nontaxable benefits
    $0
    Filer's total
    $295,123

  • Gregory Handel

    VICE PRESIDENT, EDUCATION

    Total calculated
    $237,335
    From this org
    $226,454
    From related orgs
    $0
    Other
    $10,881
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $163,600
    Bonus
    $53,134
    Other
    $9,720
    Deferred
    $7,283
    Nontaxable benefits
    $3,598
    Filer's total
    $237,335

  • Jason Jurczyk

    SENIOR DIRECTOR, ACCOUNTIN

    Total calculated
    $197,323
    From this org
    $56,159
    From related orgs
    $131,037
    Other
    $10,127
    Hours/week
    13 + 24.5 related

    Schedule J breakdown matched by us

    Base
    $47,293 + $110,351 related
    Bonus
    $8,866 + $20,686 related
    Other
    $0
    Deferred
    $1,809 + $4,222 related
    Nontaxable benefits
    $1,229 + $2,867 related
    Filer's total
    $59,197 + $138,126 related

  • Wendy Nodge

    SENIOR DIRECTOR, SIGNATURE

    Total calculated
    $183,162
    From this org
    $0
    From related orgs
    $171,967
    Other
    $11,195
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,264 related
    Bonus
    $0 + $16,703 related
    Other
    $0
    Deferred
    $0 + $6,525 related
    Nontaxable benefits
    $0 + $4,670 related
    Filer's total
    $0 + $183,162 related

  • James P Connarn

    SENIOR DIRECTOR, MARKETING

    Total calculated
    $186,221
    From this org
    $0
    From related orgs
    $180,736
    Other
    $5,485
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $149,436 related
    Bonus
    $0 + $31,300 related
    Other
    $0
    Deferred
    $0 + $4,838 related
    Nontaxable benefits
    $0 + $647 related
    Filer's total
    $0 + $186,221 related

  • Drake A Haynes

    DIRECTOR, INFORMATION TECH

    Total calculated
    $141,128
    From this org
    $13,271
    From related orgs
    $119,438
    Other
    $8,419
    Hours/week
    4 + 33.5 related

    Schedule J breakdown matched by us

    Base
    $12,102 + $108,921 related
    Bonus
    $1,169 + $10,517 related
    Other
    $0
    Deferred
    $432 + $3,891 related
    Nontaxable benefits
    $410 + $3,686 related
    Filer's total
    $14,113 + $127,015 related

  • Bradley Williams

    SECRETARY & EXECUTIVE DIRE

    Total calculated
    $255,236
    From this org
    $107,517
    From related orgs
    $136,840
    Other
    $10,879
    Hours/week
    17 + 20.5 related

    Schedule J breakdown matched by us

    Base
    $89,146 + $113,458 related
    Bonus
    $10,979 + $13,974 related
    Other
    $7,392 + $9,408 related
    Deferred
    $2,985 + $3,799 related
    Nontaxable benefits
    $1,802 + $2,293 related
    Filer's total
    $112,304 + $142,932 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

  • 1a · First-class or charter travel
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 6b · Pay contingent on a related organization's net earnings

Answered no

  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A
BRADLEY WILLIAMS AND TAMMY CARNRIKE RECEIVED SEVERANCE PAYMENTS FROM DRCF AND RELATED ORGANIZATIONS IN THE AMOUNT OF $4,759 AND $250,520, RESPECTIVELY ON 6/30/25. THE AMOUNTS WILL BE REPORTED ON THE SCHEDULE J FOR THE FYE 6/30/26 IN ACCORDANCE WITH THE CALENDAR YEAR PAYROLL REPORTING.
PART I, LINE 6
THE FOUNDATION ACCRUES BONUS COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER AND OTHER EXECUTIVE MANAGEMENT STAFF BASED ON PREDETERMINED PERCENTAGES THAT HAVE BEEN OUTLINED IN THEIR EMPLOYMENT CONTRACTS OR OTHER EMPLOYMENT MEMOS AND APPROVED BY THE COMPENSATION COMMITTEE. THE FINAL BONUS ELIGIBILITY AND AMOUNT IS BASED ON PERFORMANCE EVALUATIONS AND PERCENTAGES OF GOAL ACHIEVEMENT APPROVED BY THE CEO AND THE COMPENSATION COMMITTEE. PAYOUT OF ANY PERFORMANCE BONUS IS SUBJECT TO OVERALL CONSOLIDATED ORGANIZATIONAL FINANCIAL PERFORMANCE TO ENSURE SUFFICIENT FUNDS AND IS NOT PAID UNTIL THE FINANCIAL RESULTS OF THE FOUNDATION'S SUPPORTED ORGANIZATION, THE DETROIT REGIONAL CHAMBER, ARE DETERMINED AT THE END OF THE FISCAL YEAR. THE BONUSES ARE PAID OUT WITHIN 75 DAYS OF THE END OF THE FISCAL YEAR. FOR THE YEAR ENDED JUNE 30, 2025, THE CEO BONUS WAS APPROVED BY THE COMPENSATION COMMITTEE CHAIR TO BE PAID OUT IN JULY 2025. IF THE BOARD APPROVED BUDGETED NET PERFORMANCE RESULTS OF THE CONSOLIDATED CHAMBER WERE NOT MET, THE BONUS AMOUNTS WOULD BE REDUCED OR ELIMINATED SO AS NOT TO CREATE NEGATIVE NET EARNINGS AS COMPARED TO THE BUDGET FOR THE FOUNDATION. BONUS POOLS FOR THE CEO, EXECUTIVE MANAGEMENT TEAM, AND OTHER EMPLOYEES ARE APPROVED BY THE COMPENSATION COMMITTEE.

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.

Related corporations and trusts

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

  • DETROIT REGIONAL CHAMBER SERVICES INC

    C · AFFINITY SERVICES · MI

  • NATIONAL COMMERCE GROUP

    C · AFFINITY SERVICES · MI

Provenance

Return type
form_990
Tax year
2024
Filed
28 January 2026
IRS schema version
2024v5.5
Source object
202640299349301429

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