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Nonprofiteer
← DEVELOP DETROIT INC

Form 990 for tax year 2024

Filed by DEVELOP DETROIT INC.

Totals

Total revenue
$5,096,538
Total expenses
$4,659,972
Contributions and grants received
$3,514,569
Grants paid
$0
Program service revenue
$1,460,510
Investment income
$56,520
Other revenue
$64,939
Total assets, end of year
$28,400,976
Total liabilities, end of year
$23,836,275
Net assets or fund balances, end of year
$4,564,701
Program services expenses (Part IX)
$3,836,385
Management and general expenses
$520,469
Fundraising expenses
$303,118
Program service expenses (Part III)
$3,836,385

Program services were 82.3% 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

    $3,514,569

  • 2a · Program service revenue: RENTAL INCOME

    total $844,628 · related or exempt $844,628

  • 2b · Program service revenue: INTEREST INCOME ON NOT

    total $335,710 · related or exempt $335,710

  • 2c · Program service revenue: DEVELOPER FEE INCOME

    total $280,172 · related or exempt $280,172

  • 7a · Gross sales of assets other than inventory

    other assets $291,250

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

    other assets $234,730

  • 7c · Gain or loss

    other assets $56,520

  • 7d · Net gain or loss

    total $56,520 · related or exempt $56,520

  • 11a · Other revenue: INCOME FROM INVESTMENT

    total $45,860 · related or exempt $45,860

  • 11b · Other revenue: OTHER INCOME

    total $19,079 · related or exempt $19,079

  • 11e · Other revenue, total

    $64,939

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $483,910 · program services $343,558 · management and general $55,683 · fundraising $84,669

  • 7 · Other salaries and wages

    total $1,031,976 · program services $732,663 · management and general $118,748 · fundraising $180,565

  • 9 · Other employee benefits

    total $170,075 · program services $78,054 · management and general $84,115 · fundraising $7,906

  • 10 · Payroll taxes

    total $116,143 · program services $87,612 · management and general $11,319 · fundraising $17,212

  • 11a · Fees: management

    total $26,895 · program services $26,895

  • 11b · Fees: legal

    total $80,602 · program services $79,284 · management and general $1,318

  • 11c · Fees: accounting

    total $93,129 · program services $76,250 · management and general $16,879

  • 11g · Fees: other

    total $123,720 · program services $96,308 · management and general $14,969 · fundraising $12,443

  • 12 · Advertising and promotion

    total $14,146 · program services $4,809 · management and general $9,337

  • 13 · Office expenses

    total $179,346 · program services $93,458 · management and general $85,888

  • 16 · Occupancy

    total $523,324 · program services $486,210 · management and general $37,114

  • 17 · Travel

    total $20,827 · program services $5,438 · management and general $15,066 · fundraising $323

  • 20 · Interest

    total $850,350 · program services $850,350

  • 22 · Depreciation, depletion and amortization

    total $98,165 · program services $98,165

  • 23 · Insurance

    total $131,349 · program services $125,648 · management and general $5,701

  • 24a · Other expenses: BAD DEBT

    total $528,101 · program services $528,101

  • 24b · Other expenses: MISCELLANEOUS

    total $187,914 · program services $123,582 · management and general $64,332

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,254,221 · end of year $808,142

  • 2 · Savings and temporary cash investments

    end of year $62,476

  • 3 · Pledges and grants receivable

    beginning of year $1,276,324 · end of year $1,426,324

  • 4 · Accounts receivable

    beginning of year $483,579 · end of year $150,320

  • 9 · Prepaid expenses and deferred charges

    beginning of year $165,085 · end of year $152,435

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

    $4,400,188

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

    $312,336

  • 10c · Land, buildings and equipment, net

    beginning of year $4,110,446 · end of year $4,087,852

  • 13 · Investments: program-related

    beginning of year $15,067,334 · end of year $16,029,541

  • 15 · Other assets

    beginning of year $5,390,142 · end of year $5,683,886

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,447,603 · end of year $2,155,551

  • 23 · Secured mortgages and notes payable

    beginning of year $14,883,057 · end of year $16,351,883

  • 24 · Unsecured notes and loans payable

    beginning of year $3,819,402 · end of year $4,057,749

  • 25 · Other liabilities

    beginning of year $1,816,582 · end of year $1,271,092

  • 27 · Net assets without donor restrictions

    beginning of year $4,592,988 · end of year $2,210,451

  • 28 · Net assets with donor restrictions

    beginning of year $1,187,499 · end of year $2,354,250

Mission and programs · 2024

Mission

SEE PAGE 1, QUESTION 1

Activities or mission (Part I)

DEVELOP DETROIT, INC. IS A NONPROFIT COMMUNITY DEVELOPMENT FIRM FOCUSED ON PROVIDING AFFORDABLE AND MIXED INCOME HOUSING, AS WELL AS STRATEGIC ECONOMIC AND COMMERCIAL DEVELOPMENT THAT WILL HELP STABILIZE AND TRANSFORM DISINVESTED NEIGHBORHOODS. DDI RENOVATES AND REDEVELOPS PROPERTIES INTO HIGH QUALITY, INCLUSIVE HOUSING THAT IS WELL-DESIGNED AND ACCESSIBLE TO A BROAD RANGE OF DETROITERS. THE FIRM DEVELOPS ACROSS A WIDE RANGE OF REAL ESTATE PROJECT TYPES, INCLUDING SINGLE-FAMILY REHABILITATION AND INFILL AND MULTI- FAMILY PRESERVATION.

  • REAL ESTATE DEVELOPMENT - WE IMAGINE, DESIGN AND BUILD BEAUTIFUL HOUSING. WE CREATE MIXED-INCOME COMMUNITIES AND SINGLE-FAMILY HOMES ACROSS DETROIT FOR THE FULL RANGE OF DETROITERS. OUR WORK IS AN INTEGRATED APPROACH TO STABILIZING AND GROWING NEIGHBORHOODS DECIMATED BY THE RECENT HOUSING CRISIS.

    Expenses $3,836,385 · Revenue $1,581,969

As filed on the 2024 return.

Listed in Part VII

  • Sonya Mays

    PRESIDENT & CEO

    Total calculated
    $292,767
    From this org
    $251,323
    From related orgs
    $0
    Other
    $41,444
    Hours/week
    39.5 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $251,323
    Bonus
    $0
    Other
    $0
    Deferred
    $20,106
    Nontaxable benefits
    $21,338
    Filer's total
    $292,767

  • Kate Kohn-Parrott

    CHAIR

    Total calculated
    $0
    Hours/week
    5.5

  • Jason Paulateer

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5.5

  • Will Smith

    TREASURER (UNTIL 5/2024)

    Total calculated
    $0
    Hours/week
    5.5

  • Laura Grannemann

    SECRETARY

    Total calculated
    $0
    Hours/week
    5.5

  • Melissa Worden

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Sherrie Farrell

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Gwen Butler

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Robin Kinloch

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Ron Stallworth

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Sean Werdlow

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Eric Chatman

    MEMBER

    Total calculated
    $0
    Hours/week
    2.5

  • Lisa Alberghini

    MEMBER (UNTIL 7/2024)

    Total calculated
    $0
    Hours/week
    2.5

  • Beverly Erickson

    MEMBER (UNTIL 1/2024)

    Total calculated
    $0
    Hours/week
    2.5

  • Mark Meier

    CHIEF FINANCIAL OFFICER

    Total calculated
    $191,143
    From this org
    $157,227
    From related orgs
    $0
    Other
    $33,916
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,227
    Bonus
    $0
    Other
    $0
    Deferred
    $12,578
    Nontaxable benefits
    $21,338
    Filer's total
    $191,143

  • Craig Willian

    CHIEF INVESTMENT OFFICER

    Total calculated
    $215,332
    From this org
    $180,689
    From related orgs
    $0
    Other
    $34,643
    Hours/week
    39.5 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $180,689
    Bonus
    $0
    Other
    $0
    Deferred
    $9,034
    Nontaxable benefits
    $25,609
    Filer's total
    $215,332

  • Anthony Pipitone

    CONSTRUCTION MANAGER

    Total calculated
    $161,752
    From this org
    $126,058
    From related orgs
    $0
    Other
    $35,694
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,058
    Bonus
    $0
    Other
    $0
    Deferred
    $10,085
    Nontaxable benefits
    $25,609
    Filer's total
    $161,752

  • Oren Brandvain

    DIRECTOR, COMMUNITY INVEST

    Total calculated
    $126,046
    From this org
    $107,902
    From related orgs
    $0
    Other
    $18,144
    Hours/week
    39.75 + 0.25 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

  • 3 · Approval by the board or compensation committee

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

The filer's explanations (Part III)

PART I, LINE 3
THE BOARD HAS INSTITUTED A FORMAL BOARD PROCESS FOR CEO PERFORMANCE AND COMPENSATION UNDER WHICH THE BOARD WILL FORMALLY APPROVE THE CEO'S SALARY. THE CEO REVIEWS THE COMPENSATION FOR ALL SENIOR STAFF.

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.

  • DREAMBUILDERS NONPROFIT HOUSING CORPORATION

    501(C)(3) · PROVIDING AFFORDABLE AND MIXED INCOME HOUSING · MI · controlled entity

    Directly controlled by DEVELOP DETROIT INC

  • DFC QALICB INC

    501(C)(3) · PROVIDING AFFORDABLE AND MIXED INCOME HOUSING · MI · controlled entity

    Directly controlled by DEVELOP DETROIT 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.

  • SHELBORNE SQUARE APARTMENTS LIMITED DIVIDEND HOUSING ASSOCIATION LLC

    OWN AND OPERATE RENTAL HOUSING DEVELOPMENT · MI · income $574,044 · assets $2,473,875

    Directly controlled by DEV DETROIT SHELBORNE SQUARE LLC

  • DEV DETROIT SHELBORNE SQUARE LLC

    OWN AND OPERATE RENTAL HOUSING DEVELOPMENT · MI · income $574,044 · assets $2,473,875

    Directly controlled by DEVELOP DETROIT INC

  • DDI RENAISSANCE LIMITED DIVIDEND HOUSING ASSOCIATION LLC

    OWN AND OPERATE RENTAL HOUSING DEVELOPMENT · MI · income $280,991 · assets $2,101,824

    Directly controlled by DEVELOP DETROIT INC

  • CDC DEV DETROIT LLC

    HOLD DEVELOPMENT ACTIVITY OF EARLY STAGE PROJECTS · MI · income $0 · assets $0

    Directly controlled by DEVELOP DETROIT INC

  • ISLANDVIEW TOWNHOMES LLC

    OWN AND OPERATE RENTAL HOUSING DEVELOPMENT · MI · income $0 · assets $846,938

    Directly controlled by DEVELOP DETROIT INC

  • DDI LAWTON LDHA LLC

    RENTAL · MI · income $0 · assets $0

    Directly controlled by DEVELOP DETROIT INC

  • TURNER NORTH DEVELOPMENT LLC

    HOUSING REHABILITATION · MI · income $0 · assets $0

    Directly controlled by DEVELOP DETROIT INC

  • REVOLUTION CONSTRUCTION LLC

    HOUSING REHABILITATION · MI · income $0 · assets $0

    Directly controlled by DEVELOP DETROIT INC

Related partnerships

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

  • MARWOOD LIMITED DIVIDEND HOUSING ASSOCIATION

    RENTAL · RENTAL · MI · 99.99% owned · general or managing partner

    Directly controlled by DEVELOP DETROIT INC

  • DEV DETROIT 1346 GRATIOT LLC

    RENTAL · HOUSING REHABILITATION · MI · 90% owned · share of assets $7,788,419 · general or managing partner

    Directly controlled by DEVELOP DETROIT PROPERTIES INC

  • 93 SEWARD PARTNERS LLC

    N/A · LOAN PURCHASE · MI · 50% owned

    Directly controlled by DEVELOP DETROIT PROPERTIES INC

  • DEVELOP DETROIT EQUITY INVESTMENT FUND LLC

    N/A · EQUITY FUND · MI · 0.02% owned · share of assets $184

    Directly controlled by DEVELOP DETROIT PROPERTIES INC

  • UNIVERSITY MEADOWS I LIMITED DIVIDEND HOUSING ASSOCIATION LP

    RENTAL · RENTAL · MI · 0.01% owned · share of income $32 · share of assets $449

    Directly controlled by DEVELOP DETROIT PROPERTIES INC

  • REVOLUTION 90 MTV TOWNHOMES LLC

    N/A · HOUSING REHABILITATION · MI · 0.1% owned · share of assets $688

    Directly controlled by DEVELOP DETROIT EQUITY INVESTMENT FUND LLC

  • MARWOOD MARSTON 2020 LIMITED DIVIDEND HOUSING ASSOCIATION LLC

    RENTAL · HOUSING REHABILITATION · MI · 0.01% owned · share of income $73 · share of assets $1,635

    Directly controlled by DEVELOP DETROIT PROPERTIES INC

  • DETROIT FOOD COMMONS LLC

    LOAN INTEREST · LEVERAGE LENDER · MI · 67% owned · share of income $173,635 · share of assets $7,180,030 · general or managing partner

    Directly controlled by DEVELOP DETROIT INC

Related corporations and trusts

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

  • DEVELOP DETROIT PROPERTIES INC

    C · PROPERTY ACQUISITION AND REHABILITATION · MI · 100% owned · share of income $861,987 · share of assets $5,814,036 · controlled entity

    Directly controlled by DEVELOP DETROIT INC

Provenance

Return type
form_990
Tax year
2024
Filed
18 August 2025
IRS schema version
2024v5.2
Source object
202522319349300417

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