The Parade Company
Nonprofit profile at a glance
- EIN
- 382684772
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Detroit, MI, USA
- Phone
- 3139237400
- Rating
- 61
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Fairs
Reported finances
- Revenue
- $6,525,617
- Expenses
- $4,610,457
- Assets
- $9,805,289
- Liabilities
- $272,330
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- ANTHONY T MICHAELS (PRESIDENT AND C.E.O.)
Highest reported compensation
- ANTHONY T MICHAELS (PRESIDENT AND C.E.O.): $811,888 total reported compensation
- JESSICA KAMINSKAS (CHIEF OPERATING OFFICER): $228,240 total reported compensation
- SHAMBHAVI SRIHARSHA (VICE-PRES., HUMAN RES. AND FINANCE): $120,713 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To operate exclusively for charitable and educational purposes by sponsoring and coordinating a parade and other civic festivals within the city of detroit for the benefit, education, and enjoyment of the residents of the state of Michigan, as well as by publicizing its program and disseminating information concerning the attributes of the metropolitan detroit area and the state of Michigan in order to combat community deterioration, relieve the burdens of government, and lessen neighborhood tensions.
What it reported doing in 2024
America's thanksgiving parade brings a spark of magic and brings people from all walks of life together to enjoy one of detroit's largest and free events where, for one special moment, families can be entertained, share a tradition, and create a memory. The parade company also held a food drive to help those in need in the community during this event.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 43% for direct work, and 57% for grants.
The verdict
SUPPORTED - 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 a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 30
- Transparency & Controls: 79
- Accountability: 96
- Sustainability: 67
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 27.9%; rating input score 28
- Program expense ratio: 39.4%; rating input score 39
- Fundraising efficiency: $3.41 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Scored; rating input score 0
Accountability
- Independent voting board: 93.3%; rating input score 93; 24th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 29.3%; rating input score 84; 84th percentile among comparable filings
- Total-asset coverage ratio: 2.13; rating input score 64; 64th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 77; 77th percentile among comparable filings
- Officer compensation ratio: Limited
Growth
- Program expense growth: -2.1% per year; rating input score 0; 9th percentile among comparable filings
- Revenue growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings
- Asset growth: 7.7% per year; rating input score 100; 48th percentile among comparable filings
Details
- Where the money goes: 27.9% of revenue deployed · 39.4% of spending went to programs
- Governance: 14 of 15 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.8M in reported program spending
- Leadership: top reported pay $812K · 17 people listed · 2 of 6 pay-setting controls reported
- Consistency: 33 of 33 current checks pass
- Schedules: 9 filed schedules · includes major donors, grants, executive pay, and related organizations
- Filing history: 10 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 2 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 — Financial Efficiency: Mission deployment rate scored 28/100.
- Moderate — Financial Efficiency: Program expense ratio scored 39/100.
- High — Financial Efficiency: Fundraising efficiency scored 10/100.
- High — Growth: Program expense growth scored 0/100.
- High — Transparency & Controls: Related-party transparency scored 0/100.