Detroit, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)Detroit Development Fund, founded in 1996, is a community nonprofit in the Community Improvement sector that reported $4.9M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.0M, a strong 42% operating margin.
Detroit Development Fund (DDF) promotes the economic development of low to moderate income residents in the city of Detroit. DDF focuses on lending programs to provide financial assistance for minority small business owners, affordable housing developers and contractors, as well as job creation and retention for low to moderate-income Detroit residents.
The Organization's small business loan fund provides growth capital in the form of business loans to Detroit companies not able to obtain the necessary financing needed from traditional financing...
The Organization's small business loan fund provides growth capital in the form of business loans to Detroit companies not able to obtain the necessary financing needed from traditional financing sources.Over the last few years, the target market has seen an influx of young, entrepreneurs moving into its neighborhoods bringing forth creative synergies and increased demand for housing and local businesses. Because the Fund stays aligned with local revitalization strategies, in 2014 it moved forward with providing start-up and neighborhood business financing in an effort to provide smaller companies the proper business technical assistance to get started and/or to scale their company for growth, with a continued goal of creating additional jobs for Detroit residents and more viable neighborhood communities. Over the years, the Fund provided over $42 million in financing to over 300 companies with businesses and projects in Detroit.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $4,914,508 | $4,151,318 | +0.2% |
| Expenses | $2,873,865 | $2,690,924 | +0.1% |
| Net Income | $2,040,643 | $1,460,394 | +0.4% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Ray Waters | President | 40.00 |
Officer
Director
|
$188,333 | $10,183 | $198,516 |
| Dolores A Sturtivant | Board Chair | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| Ronald C Frederick | Treasurer | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| Diana Stewart | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Kathy Wendler | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Gail Perry-Mason | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Linda Smith | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Tom Goddeeris | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Steve Mondozzi | Chief Financial Officer | 40.00 |
Officer
|
$0 | $0 | $0 |
| John Schoeniger | Loan Fund Manager | 40.00 |
Highest
|
$151,069 | $23,084 | $174,153 |
| Angelia Sharp | Senior Loan Officer | 40.00 |
Highest
|
$120,855 | $18,467 | $139,322 |
| Deborah Jones | VP of Operations | 40.00 |
Highest
|
$170,631 | $7,984 | $178,615 |
| Erin Grant | Director of DDF Microloan | 40.00 |
Highest
|
$119,848 | $18,313 | $138,161 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $4,914,508 | $2,873,865 | $19,889,714 | $2,040,643 |
| 2023 | $4,151,318 | $2,690,924 | $20,285,195 | $1,460,394 |
| 2022 | $3,234,640 | $2,405,692 | $18,151,383 | $828,948 |
| 2021 | $2,941,920 | $2,203,336 | $19,500,518 | $738,584 |
| 2020 | $3,242,938 | $3,039,382 | $19,308,406 | $203,556 |
| 2019 | $1,512,237 | $3,301,507 | $18,710,763 | $-1,789,270 |
| 2018 | $1,781,233 | $3,588,923 | $22,095,710 | $-1,807,690 |
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