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Dmc Foundation

Detroit, MIUnknown exempt organization EIN 27-3529154Revenue $2.5M in FY2023

On file with the IRS333 West Fort Street 2010 · Detroit, MI

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The Dmc Foundation is dedicated to promoting the welfare of the general public through the support of research, education and community benefit activities.

74¢ of each $1 spent went to programs.
Run by 14 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $1.7M a year · 34% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $4K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.5M
-57% vs prior year
Spent
$3.7M
To programs
74%
Net assets
$0
By yearFY2020–FY2023
Revenue
$2.5M
FY2023▼ -57%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.4M
FY2021$8.5M
FY2022$5.9M
FY2023$2.5M
Expenses
$3.7M
FY2023▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.8M
FY2021$3.6M
FY2022$3.2M
FY2023$3.7M
Net assets
$0
FY2023▼ -100%
Tap a bar for its year
Net assets by fiscal year
FY2020$73.4M
FY2021$83.4M
FY2022$71.7M
FY2023$0

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $2.8M Management & general 26% · $980K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation
Richard L Devore
Chair (beg 07/23)/Director/President
$0Pt VII · Sec A
Henry M Grix
Treasurer (end 06/23)
$0Pt VII · Sec A
Jack Martin
Vice Chair
$0Pt VII · Sec A
Lorna L Thomas MD
Chair (end 06/23)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Joann Chavez
Director
$0Pt VII · Sec A
Mary Stephens Ferris
Director (end 06/23)
$0Pt VII · Sec A
See Dmc Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports research, education, and community projects to improve public welfare.

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Provided by the organization

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1 program · $2.8M · in their own filed words · FY2023
01

Support of health-related research, education and community benefit activities.

$2.8Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
June and Cecil McDole CharitablefundFY2023$4K
Total grants receivedfrom 1 funder$4K
Grants paid · 82 grants · $9.0M · 2020–2023
Wayne State UniversityMI · FY2023$1,090,103
Vision to LearnCA · FY2023$100,000
New Detroit INCMI · FY2023$100,000
Health Emergency Assistance of DetroitMI · FY2023$100,000
Mha Keystone Center DBA Mha Patient Safety OrganizationMI · FY2023$99,800
Zaman InternationalMI · FY2023$85,000
Detroit International Research and Education FoundationMI · FY2023$80,604
Detroit Public Safety FoundationMI · FY2023$76,180
Michigan Association for Infant Mental HealthMI · FY2023$75,000
Henry Ford Health SystemMI · FY2023$75,000
Grandmont Rosedale Development CorporationMI · FY2023$75,000
Centro Multicultural La Familia INCMI · FY2023$75,000
Avalon Healing CenterMI · FY2023$75,000
Alternatives for GirlsMI · FY2023$70,000
Vhs Huron Valley-Sinai Hospital INCFY2023$65,000
Hopewell FundDC · FY2023$63,000
Dr Gary Burnstein Community Health ClinicMI · FY2023$60,000
Chaldean American Ladies of CharityMI · FY2023$50,464
See all 82 grants →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.5M
Ln 12
Investment incomeLn 3$2.0M
Gifts and grantsLn 1h$517K
Other incomeLn 4–11$522
Money outPt IX
$3.7M
Ln 25
Programscol B$2.8M
Managementcol C$980K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$517K
Investment incomeLn 3$2.0M
Other incomeLn 4–11$522
Gains on assetsLn 7$428K
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 614
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$12.0M$0
InvestmentsLn 11–13$59.9M$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$71.9M$0
LiabilitiesLn 26$225K$0
Net assetsLn 32$71.7M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2.5M$2.5M
Investment management feesLn 11f$526K$526K
Other fees for servicesLn 11g$688K$241K$447K
Other expenses (24a–d)Ln 24$7K$7K
Total functional expensesLn 25$3.7M$2.8M$980K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $2.5M$3.7M−$1.2M$0 990 PDF
FY2022 $5.9M$3.2M$2.7M$71.7M 990 PDF
FY2021 $8.5M$3.6M$4.9M$83.4M 990 PDF
FY2020 $3.4M$2.8M$637K$73.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $2,506,181 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $9,691$516,613
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $5,884,007$1,989,046
I-11 Other revenuePrior year $305$522
I-12 Total revenuePrior year $5,894,003$2,506,181
I-13 Grants and similar amounts paidPrior year $2,087,795$2,515,151
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,085,452$1,220,498
I-18 Total expensesPrior year $3,173,247$3,735,649
I-19 Revenue less expensesPrior year $2,720,756−$1,229,468
Part VI · Governance 7 of 8 board members independent, 2 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,506,181 across 6 lines filed
VIII-1f All other contributions, gifts and grants$516,613
VIII-1h Total contributions, gifts and grants$516,613
VIII-3 Investment incomeUnrelated business $873 · Excluded from tax $1,560,109$1,560,982
VIII-7 Net gain or loss on sales of assetsExcluded from tax $428,064$428,064
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $522$522
VIII-12 Total revenueRelated to mission $0 · Unrelated business $873 · Excluded from tax $1,988,695$2,506,181
Part IX · Statement of functional expenses $3,735,649 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $2,515,151$2,515,151
IX-11f Investment management feesManagement $525,971$525,971
IX-11g Other fees for servicesPrograms $240,794 · Management $447,188$687,982
IX-24 Other expenses (24a–d)Management $6,545$6,545
IX-25 Total functional expensesPrograms $2,755,945 · Management $979,704 · Fundraising $0$3,735,649
Part X · Balance sheet $0 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $1,194$0
X-2 Savings and temporary cash investmentsStart of year $12,015,073$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securitiesStart of year $13,962,110$0
X-12 Other securitiesStart of year $45,945,352$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $2,493$0
X-16 Total assetsStart of year $71,926,222$0
X-18 Grants payableStart of year $225,323$0
X-26 Total liabilitiesStart of year $225,323$0
X-27 Net assets without donor restrictionsStart of year $71,700,899$0
X-32 Total net assets or fund balancesStart of year $71,700,899$0
X-33 Total liabilities and net assetsStart of year $71,926,222$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$2,506,181
XI-2 Total expenses$3,735,649
XI-3 Revenue less expenses−$1,229,468
XI-4 Net assets at start of year$71,700,899
XI-5 Net unrealized gains (losses) on investments$6,754,310
XI-9 Other changes in net assets−$77,225,741
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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