DETROIT ECONOMIC CLUB

EIN: 380508823 501(c)(3) Social Science

DETROIT, MI

Total Revenue
$1,869,896
Total Expenses
$2,094,248
Total Assets
$3,590,612
Net Assets
$3,590,612
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1934
Legal Domicile
MI
Principal Officer
STEVE GRIGORIAN
Phone
3139638547
Tax Period
2024-07-01 to 2025-06-30

DETROIT ECONOMIC CLUB, founded in 1934, is a community nonprofit in the Social Science sector that reported $1.9M in total revenue in fiscal year 2024. Expenses of $2.1M exceeded revenue, resulting in a 12% operating deficit.

Mission

PROVIDE A PLATFORM FOR DEBATE AND DISCUSSION.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,533,954
Program Service Revenue $230,827
Investment Income $105,115
Other Revenue $0
TOTAL REVENUE $1,869,896

Expense Breakdown

Grants Paid $0
Salaries & Benefits $939,466
Fundraising Expenses $397,771
Program Expenses $1,396,389
Other Expenses $1,154,782
TOTAL EXPENSES $2,094,248

Year-over-Year Comparison

2024 2023 Change
Revenue $1,869,896 $1,830,273 +0.0%
Expenses $2,094,248 $1,903,809 +0.1%
Net Income $-224,352 $-73,536 +2.1%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
93
Independent Members
92
Employees
7
Volunteers
97

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
7
$468,508
Total Directors
104
$468,508
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVE GRIGORIAN DIRECTOR, PRESIDENT & CEO 40.00
Officer Director
$420,000 $48,508 $468,508
SANDRA PIERCE EXECUTIVE BOARD CHAIR 1.00
Officer Director
$0 $0 $0
MARY CULLER VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
PETER GUDRITZ VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
MICHAEL LAND VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
MARK MENDOLA TREASURER 1.00
Officer Director
$0 $0 $0
RODERICK GILLUM SECRETARY 1.00
Officer Director
$0 $0 $0
MICHELLE ACCIAVATTI DIRECTOR 1.00
Director
$0 $0 $0
JAMES ANDERSON DIRECTOR 1.00
Director
$0 $0 $0
KIMBERLY ANDREWS ESPY DIRECTOR 1.00
Director
$0 $0 $0
LINDA APSEY DIRECTOR 1.00
Director
$0 $0 $0
NICOLE AVERY NICHOLS DIRECTOR 1.00
Director
$0 $0 $0
NEVEEN AWAD DIRECTOR 1.00
Director
$0 $0 $0
MARY BARRA DIRECTOR 1.00
Director
$0 $0 $0
THE HONORABLE SANDY BARUAH DIRECTOR 1.00
Director
$0 $0 $0
THE HONORABLE JOCELYN BENSON DIRECTOR 1.00
Director
$0 $0 $0
HUSSEIN BERRY DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL BICKERS DIRECTOR 1.00
Director
$0 $0 $0
CAROLYN CASSIN DIRECTOR 1.00
Director
$0 $0 $0
LISA CAWLEY DIRECTOR 1.00
Director
$0 $0 $0
BETH CHAPPELL DIRECTOR 1.00
Director
$0 $0 $0
TIM CODD DIRECTOR 1.00
Director
$0 $0 $0
DAVID DAUCH DIRECTOR 1.00
Director
$0 $0 $0
STEVEN DAVIS DIRECTOR 1.00
Director
$0 $0 $0
CONGRESSWOMAN DEBBIE DINGELL DIRECTOR 1.00
Director
$0 $0 $0
JEFF DONOFRIO DIRECTOR 1.00
Director
$0 $0 $0
MARK DOUGLAS DIRECTOR 1.00
Director
$0 $0 $0
JASON DRAKE DIRECTOR 1.00
Director
$0 $0 $0
THE HONORABLE MICHAEL DUGGAN DIRECTOR 1.00
Director
$0 $0 $0
MATTHEW ELLIOTT DIRECTOR 1.00
Director
$0 $0 $0
BOB ELLIS DIRECTOR 1.00
Director
$0 $0 $0
BILL EMERSON DIRECTOR 1.00
Director
$0 $0 $0
JOHN FIKANY DIRECTOR 1.00
Director
$0 $0 $0
STEVE FINATERI DIRECTOR 1.00
Director
$0 $0 $0
DAVID FISCHER JR DIRECTOR 1.00
Director
$0 $0 $0
DAVID FOLTYN DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM FORD JR DIRECTOR 1.00
Director
$0 $0 $0
TINA FREESE DECKER DIRECTOR 1.00
Director
$0 $0 $0
MINDI FYNKE DIRECTOR 1.00
Director
$0 $0 $0
RALPH GERSON DIRECTOR 1.00
Director
$0 $0 $0
THE HONORABLE YOUSIF GHAFARI DIRECTOR 1.00
Director
$0 $0 $0
DAN GILBERT DIRECTOR 1.00
Director
$0 $0 $0
DAVID GIRODAT DIRECTOR 1.00
Director
$0 $0 $0
SHERRI GRASAK DIRECTOR 1.00
Director
$0 $0 $0
KEVIN GUSKIEWICZ DIRECTOR 1.00
Director
$0 $0 $0
RICHARD HAMPSON DIRECTOR 1.00
Director
$0 $0 $0
SANDRA HERMANOFF DIRECTOR 1.00
Director
$0 $0 $0
RICH HOMBERG DIRECTOR 1.00
Director
$0 $0 $0
LINDA HUBBARD DIRECTOR 1.00
Director
$0 $0 $0
CHRISTOPHER ILITCH DIRECTOR 1.00
Director
$0 $0 $0
YASMEEN JASEY DIRECTOR 1.00
Director
$0 $0 $0
HANS-WERNER KAAS DIRECTOR 1.00
Director
$0 $0 $0
ALAN JAY KAUFMAN DIRECTOR 1.00
Director
$0 $0 $0
TRICIA KEITH DIRECTOR 1.00
Director
$0 $0 $0
ANGIE KELLY DIRECTOR 1.00
Director
$0 $0 $0
PATRICK KILLEEN DIRECTOR 1.00
Director
$0 $0 $0
SAM KLEMET DIRECTOR 1.00
Director
$0 $0 $0
RONIA KRUSE DIRECTOR 1.00
Director
$0 $0 $0
DAVID LEWIS DIRECTOR 1.00
Director
$0 $0 $0
HEIDI MAGYAR DIRECTOR 1.00
Director
$0 $0 $0
BEN MAIBACH III DIRECTOR 1.00
Director
$0 $0 $0
TONY MICHAELS DIRECTOR 1.00
Director
$0 $0 $0
GARY MILES DIRECTOR 1.00
Director
$0 $0 $0
JAMES NICHOLSON DIRECTOR 1.00
Director
$0 $0 $0
JERRY NORCIA DIRECTOR 1.00
Director
$0 $0 $0
SANTA ONO DIRECTOR 1.00
Director
$0 $0 $0
DAVID PARENT DIRECTOR 1.00
Director
$0 $0 $0
ROGER PENSKE DIRECTOR 1.00
Director
$0 $0 $0
DR ORA PESCOVITZ DIRECTOR 1.00
Director
$0 $0 $0
STEPHEN POLK DIRECTOR 1.00
Director
$0 $0 $0
LORI POWE DIRECTOR 1.00
Director
$0 $0 $0
PETER PROVENZANO JR DIRECTOR 1.00
Director
$0 $0 $0
PETER QUIGLEY DIRECTOR 1.00
Director
$0 $0 $0
JOHN RAKOLTA JR DIRECTOR 1.00
Director
$0 $0 $0
TERRY RHADIGAN DIRECTOR 1.00
Director
$0 $0 $0
ROBERT RINEY DIRECTOR 1.00
Director
$0 $0 $0
ANDRA RUSH DIRECTOR 1.00
Director
$0 $0 $0
DRMARK SAFFER DIRECTOR 1.00
Director
$0 $0 $0
RAY SCOTT DIRECTOR 1.00
Director
$0 $0 $0
ED SIAJE DIRECTOR 1.00
Director
$0 $0 $0
SUZY SIEGLE DIRECTOR 1.00
Director
$0 $0 $0
DR TAREK SOBH DIRECTOR 1.00
Director
$0 $0 $0
AMY SOLEK DIRECTOR 1.00
Director
$0 $0 $0
RACHEL STEWART DIRECTOR 1.00
Director
$0 $0 $0
JEFF TATE DIRECTOR 1.00
Director
$0 $0 $0
ARN TELLEM DIRECTOR 1.00
Director
$0 $0 $0
JEFF TERRILL DIRECTOR 1.00
Director
$0 $0 $0
PRAVEEN THADANI DIRECTOR 1.00
Director
$0 $0 $0
JASON TINSLEY DIRECTOR 1.00
Director
$0 $0 $0
KEVIN VOIGT DIRECTOR 1.00
Director
$0 $0 $0
LEONARD WOLFE DIRECTOR 1.00
Director
$0 $0 $0
HERBERT STRATHER DIRECTOR 1.00
Director
$0 $0 $0
DUANE TARNACKI DIRECTOR 1.00
Director
$0 $0 $0
KATHY WEAVER DIRECTOR - PART YEAR 1.00
Director
$0 $0 $0
JIM TISH DIRECTOR - PART YEAR 1.00
Director
$0 $0 $0
JAMES PROPPE DIRECTOR - PART YEAR 1.00
Director
$0 $0 $0
CHARLES MCCLURE DIRECTOR - PART YEAR 1.00
Director
$0 $0 $0
DANIEL LOEPP DIRECTOR - PART YEAR 1.00
Director
$0 $0 $0
PETER KARMANOS JR DIRECTOR - PART YEAR 1.00
Director
$0 $0 $0
SCOTT JECMEN DIRECTOR - PART YEAR 1.00
Director
$0 $0 $0
JIM FITTERLING DIRECTOR - PART YEAR 1.00
Director
$0 $0 $0
RIC DEVORE DIRECTOR - PART YEAR 1.00
Director
$0 $0 $0
KEITH CRAIN DIRECTOR - PART YEAR 1.00
Director
$0 $0 $0
ROD ALBERTS DIRECTOR - PART YEAR 1.00
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
2025 $1,869,896 $2,094,248 $3,590,612 $-224,352
2024 $1,830,273 $1,903,809 $3,593,130 $-73,536
2023 $1,730,536 $1,600,961 $3,521,572 $129,575
2022 $1,470,575 $1,252,900 $3,415,666 $217,675
2021 $1,225,694 $969,672 $3,405,015 $256,022
2020 $1,486,234 $1,353,720 $2,956,308 $132,514
2019 $1,852,006 $1,510,188 $2,748,317 $341,818
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