DETROIT BELLE ISLE GRAND PRIX INC

EIN: 205885762 501(c)(3) Community Improvement

BLOOMFIELD HILLS, MI

Total Revenue
$22,760,223
Total Expenses
$22,853,950
Total Assets
$3,418,022
Net Assets
$-1,695,873
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
MI
Principal Officer
CLAUDE DENKER
Phone
2486482457
Tax Period
2023-01-01 to 2023-12-31

DETROIT BELLE ISLE GRAND PRIX INC, founded in 2006, is a mid-sized nonprofit in the Community Improvement sector that reported $22.8M in total revenue in fiscal year 2023. Revenue surged 54% from the prior year, signaling strong growth momentum.

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.

Program Service Accomplishments

Program 1
Expenses: $19,015,954 Revenue: $8,985,610

PROMOTES THE REVITALIZATION OF ECONOMICALLY DEPRESSED AREAS OF THE CITY OF DETROIT BY CONDUCTING MOTOR VEHICLE RACING EVENTS.

Program 2
Expenses: $1,042,704

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...

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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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $13,484,946
Program Service Revenue $8,985,610
Investment Income $484,749
Other Revenue $-195,082
TOTAL REVENUE $22,760,223

Expense Breakdown

Grants Paid $847,622
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $20,058,658
Other Expenses $22,006,328
TOTAL EXPENSES $22,853,950

Year-over-Year Comparison

2023 2022 Change
Revenue $22,760,223 $14,762,535 +0.5%
Expenses $22,853,950 $14,762,535 +0.5%
Net Income $-93,727 $0 N/A
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
4
Independent Members
3
Employees
N/A
Volunteers
1500

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$550,721
Total Directors
4
$550,721
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERIC B LARSON VICE PRESIDENT 1.00
Officer Director
$0 $22,145 $550,721
CLAUDE BUD DENKER PRESIDENT 1.00
Officer Director
$0 $0 $0
CAMERON PIGGOTT TREASURER/SECRETARY 1.00
Officer Director
$0 $0 $0
ROGER PENSKE CHAIR 1.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $22,760,223 $22,853,950 $3,418,022 $-93,727
2022 $14,762,535 $14,762,535 $4,637,183 No data
2021 $11,943,538 $11,943,538 $745,267 No data
2020 $1,503,100 $1,660,076 $1,338,022 $-156,976
2019 $15,651,010 $15,651,010 $3,029,791 No data
2018 $15,863,499 $15,863,499 $3,478,295 No data
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