Invest Detroit Cde

Nonprofit profile at a glance

EIN
264008431
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Detroit, MI, USA
Phone
3132596368
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Reported finances

Revenue
$1,818,792
Expenses
$1,299,862
Assets
$4,882,430
Liabilities
$93,598

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

Leadership & pay

9 people listed

Executive titles in this filing

  • DAVID BLASZKIEWICZ (PRESIDENT & CEO)

Highest reported compensation

  • DAVID BLASZKIEWICZ (PRESIDENT & CEO): $505,334 total reported compensation
  • KEONA COWAN (CHAIRMAN): $305,619 total reported compensation
  • CARRIE LEWAND-MONROE (CHIEF OPERATING OFFICER): $292,311 total reported compensation

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

Overview

Mission

Invest detroit cde's mission is to serve or make loans or provide equity investment capital to low-income communities or low-income persons; to take actions to qualify and continue the qualifications as a community development entity; and maintain accountability to residents of low-income communities through the appointment of a board of directors of individuals who represent low-income communities.

What it reported doing in 2024

Placing nmtc allocation into qualified projects

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 60
  • Accountability: 72
  • Sustainability: 75
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.3%; rating input score 40
  • Program expense ratio: 57.8%; rating input score 58
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 66.7%; rating input score 67; 14th 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: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 28.5%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 3.76; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 9.4%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: -1.6% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 15.4% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 40.3% of revenue deployed · 57.8% of spending went to programs
  • Governance: 4 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $752K in reported program spending
  • Leadership: top reported pay $505K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 18 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 40/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 58/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.