Detroit LGBT Chamber Fund Inc

Nonprofit profile at a glance

EIN
813237118
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2017
Location
Detroit, MI, USA
Phone
3136733001
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Alliance/Advocacy

Reported finances

Revenue
$204,044
Expenses
$182,573
Assets
$104,665
Liabilities
$100

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

Leadership & pay

11 people listed

Executive titles in this filing

  • Kevin T Heard (President and Executive Director)
  • Christina Ware (Vice President)

Highest reported compensation

  • Kevin T Heard (President and Executive Director): $51,229 total reported compensation

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

Overview

Mission

Providing education to LGBTQ business and allies in the grater Detroit, Michigan region.

What it reported doing in 2024

Queer Equity Impact Program: A 12-week business accelerator for LGBTQ business owners that will cover the most impactful aspects of business from Ideation to capital ready. In-person classes are every other week. Free for businesses to participate. Leaders in the field teach each class. Grant award opportunity at completion. $10,000 Pitch competition qualifying upon completion. Completed the fourth cohorts. We host 2 cohorts a year. Fall & Spring Business Summits COLOURS Spring LGBT Business Summit focuses on business landscape and contracting opportunities. It covers scaling businesses, benefits of LGBTQ Business Certification, and includes matchmakers and sessions. This all-day event features 100 professionals and business owners, 4-5 workshops, and multiple networking opportunities with corporate partners and leaders.While the Fall Summit highlights efforts in corporate and government landscapes. It previews upcoming initiatives and workforce adaptations. The event offers best practices, suggestions, and technical assistance for small businesses, including legal, HR, and marketing advice.

Operating model

Revenue model
Donor-supported. 100% 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. 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: 67
  • Transparency & Controls: 69
  • Accountability: 79
  • Sustainability: 45
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.9%; rating input score 67
  • Program expense ratio: 74.8%; rating input score 75
  • Fundraising efficiency: $11.95 raised per $1 spent on fundraising; rating input score 44; 44th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 10.5%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 0.57; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 28.1%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 54.1% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 37.6% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 66.9% of revenue deployed · 74.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $137K in reported program spending
  • Leadership: top reported pay $51K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 44/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.