Detroit Belle Isle Grand Prix Inc

Nonprofit profile at a glance

EIN
205885762
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Bloomfield Hills, MI, USA
Phone
2486482457
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Improvement, Capacity Building N.E.C.

Official website

Reported finances

Revenue
$21,314,263
Expenses
$21,389,811
Assets
$3,076,924
Liabilities
$4,848,345

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

Leadership & pay

5 people listed

Executive titles in this filing

  • ERIC B LARSON (VICE PRESIDENT)
  • CLAUDE BUD DENKER (PRESIDENT)

Highest reported compensation

  • ERIC B LARSON (VICE PRESIDENT): $518,863 total reported compensation
  • JAMIE L COOL (EVENT MANAGER): $103,952 total reported compensation

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

Overview

Mission

(1) promotes the revitalization of economically depressed areas of the city of detroit by conducting motor vehicle racing events; and (2) to raise funds for the preservation and improvement of belle isle park.

What it reported doing in 2024

Raises funds for the preservation and improvement of belle isle park, which serves as a unique backdrop for a popular racing event and remains for the long-term enjoyment of park visitors. Additional funds raised benefiting various local charities providing services to residents of the city of detroit.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 96% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 67
  • Accountability: 60
  • Sustainability: 25
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.6%; rating input score 92
  • Program expense ratio: 91.3%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 63.1%; rating input score 63; 13th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 75%; rating input score 75; 14th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.4%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.14; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 1.58; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0.6%; rating input score 89; 89th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 3.5% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: -5.1% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 91.6% of revenue deployed · 91.3% of spending went to programs
  • Governance: 3 of 4 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $19.5M in reported program spending
  • Leadership: top reported pay $519K · 5 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $5.3M reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 10 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.