COMMUNITY ECONOMIC DEVELOPMENT ASSOCIATION OF MICHIGAN

EIN: 383445097 501(c)(3) Community Improvement

LANSING, MI

Total Revenue
$9,586,566
Total Expenses
$9,382,775
Total Assets
$4,480,938
Net Assets
$2,432,130
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
MI
Principal Officer
EDDIE FAKHOURY
Phone
5174853588
Tax Period
2024-10-01 to 2025-09-30

COMMUNITY ECONOMIC DEVELOPMENT ASSOCIATION OF MICHIGAN, founded in 1998, is a community nonprofit in the Community Improvement sector that reported $9.6M in total revenue in fiscal year 2024. Revenue surged 86% from the prior year, signaling strong growth momentum.

Mission

THE COMMUNITY ECONOMIC DEVELOPMENT ASSOCIATION OF MICHIGAN (CEDAM) SUPPORTS ITS DIVERSE MEMBERSHIP TO CREATE VIBRANT, SUSTAINABLE AND RESILIENT COMMUNITIES. WE ENHANCE LOCALLY-DRIVEN COMMUNITY ECONOMIC DEVELOPMENT EFFORTS THROUGH TRAINING AND RESOURCES, TECHNICAL ASSISTANCE, CAPACITY BUILDING AND POLICY ADVOCACY.

Program Service Accomplishments

Program 1
Expenses: $5,536,080 Revenue: $296,778

THE TRAINING PROGRAM IS USED TO TRAIN APPROXIMATELY 1300 INDIVIDUALS FROM NON-PROFIT ORGANIZATIONS TO BUILD ORGANIZATIONAL CAPACITY; TRAINING TOPICS OFTEN INCLUDE INTENSIVE AFFORDABLE HOUSING...

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THE TRAINING PROGRAM IS USED TO TRAIN APPROXIMATELY 1300 INDIVIDUALS FROM NON-PROFIT ORGANIZATIONS TO BUILD ORGANIZATIONAL CAPACITY; TRAINING TOPICS OFTEN INCLUDE INTENSIVE AFFORDABLE HOUSING DEVELOPMENT AND FINANCING, NEW ASSET-BUILDING STRATEGIES, AND OTHER COMMUNITY DEVELOPMENT-RELATED TOPICS.THE MICHIGAN EARNED IMPACT COALITION (MEIC) UNITES INDIVIDUALS, ORGANIZATIONS AND LOCAL INITIATIVES COMMITTED TO SUPPORTING TAX CREDIT AND ASSET BUILDING OPPORTUNITIES FOR MICHIGAN FAMILIES THROUGH IMPROVED ACCESS TO FREE, QUALITY, INCOME TAX PREPARATION ASSISTANCE; MICHIGAN COMMUNITIES FOR FINANCIAL EMPOWERMENT (MCFE)IS A NETWORK FOR LOCAL LEADERS WORKING TO INTEGRATE FINANCIAL EMPOWERMENT WITH CORE PUBLIC AND NONPROFIT SERVICES. MCFE MEMBERS HELP MICHIGAN RESIDENTS TO REACH FINANCIAL STABILITY THROUGH FINANCIAL EDUCATION AND COUNSELING, ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND SERVICES, OPPORTUNITIES TO SAVE AND BUILD WEALTH, AND CONSUMER PROTECTIONS. AS THE HOST ORGANIZATION FOR THE NETWORK, CEDAM PROVIDES MEMBERS TRAINING, TECHNICAL ASSISTANCE AND FUNDING TO DEVELOP AND EXPAND FINANCIAL EMPOWERMENT INITIATIVES IN THEIR COMMUNITIES. CEDAM ALSO LEADS CONSUMER PROTECTIONS ADVOCACY IN THE STATE TO PROTECT MICHIGAN RESIDENTS IN THE FINANCIAL MARKETPLACE.

Program 2
Expenses: $1,745,874 Revenue: $924,953

80,000 AMERICANS USE AMERICORPS NATIONAL COMMUNITY SERVICE PROGRAMS TO GIVE BACK TO THEIR COMMUNITIES EVERY YEAR. DURING THEIR SERVICE, MEMBERS RECEIVE INVALUABLE PROFESSIONAL DEVELOPMENT IN THE...

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80,000 AMERICANS USE AMERICORPS NATIONAL COMMUNITY SERVICE PROGRAMS TO GIVE BACK TO THEIR COMMUNITIES EVERY YEAR. DURING THEIR SERVICE, MEMBERS RECEIVE INVALUABLE PROFESSIONAL DEVELOPMENT IN THE NONPROFIT SECTOR, AN EDUCATION AWARD MATCHING THE PELL GRANT AND A LIVING ALLOWANCE.AMERICORPS PROGRAMS DO MORE THAN MOVE COMMUNITIES FORWARD; THEY SERVE THEIR MEMBERS BY CREATING JOBS AND PROVIDING PATHWAYS TO OPPORTUNITY FOR PEOPLE ENTERING THE NONPROFIT FIELD. AMERICORPS PLACES THOUSANDS OF AMERICANS INTO INTENSIVE SERVICE POSITIONS WHERE THEY LEARN VALUABLE WORK SKILLS, EARN MONEY FOR EDUCATION, AND DEVELOP AN APPRECIATION FOR CITIZENSHIP.

Program 3
Expenses: $644,251

CEDAM MANAGES THE COMMUNITY DEVELOPMENT FELLOWSHIP WITH SUPPORT FROM THE MICHIGAN ECONOMIC DEVELOPMENT CORPORATION (MEDC). FELLOWS ARE PLACED IN COMMUNITIES ENGAGED OR CERTIFIED IN REDEVELOPMENT...

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CEDAM MANAGES THE COMMUNITY DEVELOPMENT FELLOWSHIP WITH SUPPORT FROM THE MICHIGAN ECONOMIC DEVELOPMENT CORPORATION (MEDC). FELLOWS ARE PLACED IN COMMUNITIES ENGAGED OR CERTIFIED IN REDEVELOPMENT READY COMMUNITIES (RRC) FOR FIFTEEN MONTHS AND WORK ON A VARIETY OF PROJECTS TO EXPAND ORGANIZATIONAL CAPACITY, INCREASE LOCAL COLLABORATION, AND REMOVE BARRIERS TO DEVELOPMENT.

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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 $8,315,007
Program Service Revenue $1,204,610
Investment Income $49,828
Other Revenue $17,121
TOTAL REVENUE $9,586,566

Expense Breakdown

Grants Paid $1,931,342
Salaries & Benefits $5,445,204
Fundraising Expenses $0
Program Expenses $7,926,205
Other Expenses $2,006,229
TOTAL EXPENSES $9,382,775

Year-over-Year Comparison

2024 2023 Change
Revenue $9,586,566 $5,164,060 +0.9%
Expenses $9,382,775 $5,162,504 +0.8%
Net Income $203,791 $1,556 +130.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
18
Independent Members
18
Employees
146
Volunteers
100

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
6
$157,147
Total Directors
19
$0
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AARON COOPER DIRECTOR 1.00
Director
$0 $0 $0
RAWLEY VAN FOSSEN DIRECTOR 1.00
Director
$0 $0 $0
MICHELLE MCGREGOR DIRECTOR 1.00
Director
$0 $0 $0
JAMEKA WILLIAMS DIRECTOR 1.00
Director
$0 $0 $0
CJ FELTON DIRECTOR 1.00
Director
$0 $0 $0
LISA EVANS DIRECTOR 1.00
Director
$0 $0 $0
PENNY PAYEA DIRECTOR 1.00
Director
$0 $0 $0
DANA CHRISTIAN DIRECTOR 1.00
Director
$0 $0 $0
HOPE LOVELL DIRECTOR 1.00
Director
$0 $0 $0
JONATHAN STIMSON DIRECTOR 1.00
Director
$0 $0 $0
ZOSIA EPPENSTEINER DIRECTOR 1.00
Director
$0 $0 $0
BRAD MICHAUD DIRECTOR 1.00
Director
$0 $0 $0
BRYAN KIELER DIRECTOR (ENDED 3/25) 1.00
Director
$0 $0 $0
YELENA RAMAUTAR DIRECTOR 1.00
Director
$0 $0 $0
CATHERINE DISTELRATH DIRECTOR 1.00
Director
$0 $0 $0
LIBBY PALACKDHARRY SECRETARY/VICE PRESNIDENT 1.00
Officer Director
$0 $0 $0
DEAMO MURPHY DIRECTOR/ SECRETARY 1.00
Officer Director
$0 $0 $0
ANGELA AARON-BENIFIELD TREASURER 1.00
Officer Director
$0 $0 $0
ESSENCE WILSON PRESIDENT 1.00
Officer Director
$0 $0 $0
LUKE FORREST EXECUTIVE DIRECTOR (ENDED 1/10/25) 40.00
Officer
$147,215 $9,932 $157,147
EDDIE FAKHOURY EXECUTIVE DIRECTOR 1.00
Officer
$0 $0 $0
RACHEL DISKIN DIR.& CHEIF TALENT OFFR.(ENDED 3/25) 40.00
Highest
$111,467 $18,093 $129,560
BENJAMIN DOWD DEPUTY DIRECTOR & COO 40.00
Highest
$108,027 $19,551 $127,578
MADELEINE MARCH-MEENAGH DIRECTOR OF ECONOMIC INITIATIVES 40.00
Highest
$103,420 $21,786 $125,206
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 $9,586,566 $9,382,775 $4,480,938 $203,791
2024 $5,164,060 $5,162,504 $4,990,698 $1,556
2023 $3,268,290 $3,190,424 $3,086,019 $77,866
2022 $4,096,846 $3,430,945 $2,302,310 $665,901
2021 $2,264,650 $2,089,882 $2,787,287 $174,768
2020 $1,903,505 $1,823,578 $2,895,236 $79,927
2019 $2,071,998 $1,857,737 $1,652,463 $214,261
2018 $1,348,546 $1,277,247 $1,346,690 $71,299
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