Empresa INC

Not tax-deductible

Detroit, MIMutual-benefit / member-servingSince 1994EIN 38-3210340Revenue $636K in FY2024

On file with the IRSsermetro.org9301 Michigan Ave, 48210-2038 · Detroit, MITax-exempt since Sep 1996

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To hold real estate on behalf of related non profit organization.

Mission: Form 990 Part I, line 1

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $209K a year · 67% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Named funders
1
named funder · $676K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$5.1M
62% of total assets
Fine: liabilities are 62% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$636K
-13% vs prior year
Spent
$468K
Net assets
$3.1M
By yearFY2020–FY2024
Revenue
$636K
FY2024▼ -13%
Tap a bar for its year
Revenue by fiscal year
FY2020$23K
FY2021$54K
FY2022$58K
FY2023$698K
FY2024$728K
FY2024$636K
Expenses
$468K
FY2024▲ +82%
Tap a bar for its year
Expenses by fiscal year
FY2020$43K
FY2021$78K
FY2022$94K
FY2023$44K
FY2024$257K
FY2024$468K
Net assets
$3.1M
FY2024▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.9M
FY2021$1.9M
FY2022$1.8M
FY2023$2.5M
FY2024$3.0M
FY2024$3.1M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1996.

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Empresa INC 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

Owns real estate for related nonprofit groups.

Questions for Empresa INC

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Provided by the organization

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1 program · in their own filed words · FY2024
01

The corporation is organized exclusively for holding title to property, collecting income therefrom, and turning the income over to only those exempt organizations as permitted by section 501(c)(2).

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2022
Total grants receivedfrom 1 funder$676K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$636K
Ln 12
Gifts and grantsLn 1h$370K
Fees for servicesLn 2g$266K
Money outPt IX
$468K
Ln 25
Owns and owesPt X
$3.1M
net assets · Ln 32
Total assetsLn 16$8.2M
LiabilitiesLn 26$5.1M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$370K
Government grantsLn 1e$370K
Fees for servicesLn 2g$266K
Total revenueLn 12$636K
Assets in detailPt X, end of year
Land, buildings, equipmentLn 10c$3.8M
Other assetsLn 15$4.4M
Total assetsLn 16$8.2M
LiabilitiesLn 26$5.1M
Net assetsLn 32$3.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Land, buildings, equipmentLn 10c$3.9M$3.8M
Total assetsLn 16$7.3M$8.2M
LiabilitiesLn 26$4.3M$5.1M
Net assetsLn 32$3.0M$3.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$78K
Office expensesLn 13$4K
OccupancyLn 16$69K
TravelLn 17$518
InterestLn 20$194K
Depreciation, depletion and amortizationLn 22$109K
Other expenses (24a–d)Ln 24$13K
Total functional expensesLn 25$468K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $728K$257K$471K$3.0M 990 PDF
FY2023 $698K$44K$654K$2.5M 990 PDF
FY2022 $58K$94K−$37K$1.8M 990 PDF
FY2021 $54K$78K−$25K$1.9M 990 PDF
FY2020 $23K$43K−$19K$1.9M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $635,996 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $500,000$369,640
I-9 Program service revenuePrior year $227,580$266,356
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $727,580$635,996
I-13 Grants and similar amounts paidPrior year $0$0
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 $256,906$468,446
I-18 Total expensesPrior year $256,906$468,446
I-19 Revenue less expensesPrior year $470,674$167,550
Part VI · Governance 0 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
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-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $635,996 across 4 lines filed
VIII-1e Government grants$369,640
VIII-1h Total contributions, gifts and grants$369,640
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $266,356$266,356
VIII-12 Total revenueRelated to mission $266,356 · Unrelated business $0 · Excluded from tax $0$635,996
Part IX · Statement of functional expenses $468,446 across 7 lines filed
IX-11a Management fees$78,361
IX-13 Office expenses$3,970
IX-16 Occupancy$69,247
IX-17 Travel$518
IX-20 Interest$193,703
IX-22 Depreciation, depletion and amortization$109,241
IX-24 Other expenses (24a–d)$13,406
IX-25 Total functional expenses$468,446
Part X · Balance sheet $8,193,064 assets, 9 lines filed
X-4 Accounts receivable$22,012
X-10c Land, buildings and equipment, netStart of year $3,879,078$3,805,404
X-15 Other assetsStart of year $3,343,579$4,365,648
X-16 Total assetsStart of year $7,265,509$8,193,064
X-25 Other liabilitiesStart of year $1,593,082$1,411,056
X-26 Total liabilitiesStart of year $4,315,139$5,075,144
X-27 Net assets without donor restrictionsStart of year $2,950,370$3,117,920
X-32 Total net assets or fund balancesStart of year $2,950,370$3,117,920
X-33 Total liabilities and net assetsStart of year $7,265,509$8,193,064
Part XI · Reconciliation of net assets $3,117,920 net assets at year end
XI-1 Total revenue$635,996
XI-2 Total expenses$468,446
XI-3 Revenue less expenses$167,550
XI-4 Net assets at start of year$2,950,370
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,117,920

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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