Detroit 300 Conservancy

Nonprofit profile at a glance

EIN
300002873
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Detroit, MI, USA
Phone
3135668250
Rating
79
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Parks and Playgrounds

Official website

Reported finances

Revenue
$7,093,097
Expenses
$7,308,412
Assets
$5,456,451
Liabilities
$4,777,464

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

20 people listed

Executive titles in this filing

  • ERIC B LARSON (CEO)
  • CARI EASTERDAY-KAR (VICE PRESIDENT/CFO/ASST TREASURER)

Highest reported compensation

  • ERIC B LARSON (CEO): $518,863 total reported compensation
  • GINA CAVILERE (CHIEF COMMUNITY IMPACT OFFICER): $241,626 total reported compensation
  • CARI EASTERDAY-KAR (VICE PRESIDENT/CFO/ASST TREASURER): $169,603 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization is a Michigan non-profit corporation designed to maintain and program the detroit 300 legacy gift to the city of detroit and campus martius park, as well as to provide funding for the continued beautification of public spaces in the city of detroit.

What it reported doing in 2024

Beacon park - beacon park opened july 20, 2017. The park infuses light, energy, and motion to create a distinctive gathering place, and an unforgettable experience for visitors of all ages. The circular, open lawn is the largest of any downtown detroit park and gives visitors room to run, play, relax and recharge. The park provides year-round programming, interactive light installations and a contemporary restaurant with a rooftop garden and dining space for panoramic views of the park and city skyline. The park has activated 1.2 acres, improved walkability, and created a catalyst for cultural vibrancy and economic development.

Operating model

Revenue model
Donor-supported. 65% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 65
  • Accountability: 84
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.9%; rating input score 93
  • Program expense ratio: 89%; rating input score 89
  • Fundraising efficiency: $51.62 raised per $1 spent on fundraising; rating input score 79; 79th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 7th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 87.5%; rating input score 88; 19th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 0.75; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 6.4%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 7.1% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 92.9% of revenue deployed · 89% of spending went to programs
  • Governance: 14 of 16 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $6.5M in reported program spending
  • Leadership: top reported pay $519K · 20 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.5M reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.