Detroit Promise Zone
EIN: 843475243 · Detroit, MI · NTEE: T30
| Metric | Value |
|---|---|
| Total Revenue | $5.6M |
| Total Expenses | $3.2M |
| Net Assets | $1.7M |
Is Detroit Promise Zone Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Detroit Promise Zone
Detroit Promise Zone (EIN: 843475243) is a nonprofit organization based in Detroit, MI, classified under NTEE code T30. The organization reported total revenue of $5.6M and total assets of $5.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Detroit Promise Zone's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Detroit Promise Zone is a mid-size nonprofit that has been operating for 3 years, with 5 years of IRS 990 filings on record (2020–2024).
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.5M |
| Total Expenses | $3.2M |
| Surplus / Deficit | +$1.3M |
| Total Assets | $1.7M |
| Net Assets | $1.7M |
| Operating Margin | 28.1% |
| Months of Reserves | 6.3 months |
Financial Health Grade: A
In 2024, Detroit Promise Zone reported a surplus of $1.3M with revenue exceeding expenses, holds 6.3 months of operating reserves (strong position).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +83.2% | -31.4% | +299.6% |
| 2023 | -7.6% | +658.8% | -84.2% |
| 2022 | +46.0% | -47.3% | +317.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2023 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Detroit Promise Zone has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Detroit Promise Zone with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.3M, with revenue exceeding expenses.
Frequently Asked Questions about Detroit Promise Zone
Is Detroit Promise Zone a legitimate charity?
Based on AI analysis of IRS 990 filings, Detroit Promise Zone (EIN: 843475243) insufficient data. 0 red flags identified, 0 strengths noted.
How does Detroit Promise Zone spend its money?
Detailed spending breakdown data is not yet available for Detroit Promise Zone. Check back for updated IRS 990 analysis.
Are donations to Detroit Promise Zone tax-deductible?
Detroit Promise Zone is registered as a tax-exempt nonprofit (EIN: 843475243). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Detroit Promise Zone located?
Detroit Promise Zone is headquartered in Detroit, Michigan and files with the IRS under EIN 843475243. It is classified under NTEE code T30.
How many years of IRS 990 filings does Detroit Promise Zone have?
Detroit Promise Zone has 5 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $5.6M in total revenue.
Filing History
IRS 990 filing history for Detroit Promise Zone showing financial trends over 5 years of public records:
Total assets increased by 168471400% over the same period, from $1 to $1.7M. In its most recent filing year (2024), Detroit Promise Zone reported a surplus of $1.3M, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $4.5M | $3.2M | $1.7M | $0 | — | — |
| 2023 | $2.5M | $4.7M | $422K | $0 | — | — |
| 2022 | $2.7M | $620K | $2.7M | $0 | — | — |
| 2021 | $1.8M | $1.2M | $641K | $0 | — | — |
| 2020 | $0 | $0 | $1 | $0 | — | — |
Year-by-Year Financial Summary
- 2024: Revenue of $4.5M, expenses of $3.2M, and assets of $1.7M (revenue +83.2% year-over-year).
- 2023: Revenue of $2.5M, expenses of $4.7M, and assets of $422K (revenue -7.6% year-over-year).
- 2022: Revenue of $2.7M, expenses of $620K, and assets of $2.7M (revenue +46.0% year-over-year).
- 2021: Revenue of $1.8M, expenses of $1.2M, and assets of $641K.
- 2020: Revenue of $0, expenses of $0, and assets of $1.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Detroit Promise Zone:
Data Sources and Methodology
This transparency report for Detroit Promise Zone is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.