NEW DETROIT INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1968

Legal Domicile

Phone

3136642000

Tax Period

2024-01-01 to 2024-12-31

NEW DETROIT INC, founded in 1968, is a small nonprofit that reported $535K in total revenue in fiscal year 2024. Revenue fell 33% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 114% operating deficit.

Mission

NEW DETROIT INC (THE CORPORATION) IS A COALITION OF LEADERS WORKING TO ACHIEVE RACIAL UNDERSTANDING AND RACIAL EQUITY IN METROPOLITAN DETROIT. THE CORPORATIONS PRINCIPAL SOURCE OF REVENUE IS FROM GRANTS AND CONTRIBUTIONS.

Program Service Accomplishments

Program 1

Expenses: $475,052

Thought Leadership & Advocacy - The corporations second annual just lead: Advancing Racial Equity conference brought together 220 participants representing a cross section of leadership and...

Thought Leadership & Advocacy - The corporations second annual just lead: Advancing Racial Equity conference brought together 220 participants representing a cross section of leadership and viewpoints and included speakers on the business case for DEI, Nikole Hannah-Jones, and interactive workshops. Corporation staff spoke at United Nations, national news programs, and local television, and wrote OpEds on racial equity. Education - The corporation offered a series of virtual and in-person town hall panels comprising local and national leaders addressing topical issues, such as disability justice and racism as a public health crisis, with a total attendance of just over 300. Trainings - The corporations Just Institute served 140 people in the hospitality industry through Just Place (R), the healthcare industry through Just Care (which qualifies under the State of Michigan requirement for anti bias training for licensed healthcare professionals), and leaders

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $457,231

Program Service Revenue $59,204

Investment Income $0

Other Revenue $18,395

TOTAL REVENUE $534,830

Expense Breakdown

Grants Paid $0

Salaries & Benefits $720,776

Fundraising Expenses $432,903

Program Expenses $475,052

Other Expenses $422,743

TOTAL EXPENSES $1,143,519

Year-over-Year Comparison

	2024	2023	Change
Revenue	$534,830	$795,946	-0.3%
Expenses	$1,143,519	$1,298,559	-0.1%
Net Income	$-608,689	$-502,613	+0.2%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

$173,039

Total Directors

Key Employees

$192,000

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL S RAFFERTY	PRESIDENT CEO	40.00	Key Emp	$192,000	$0	$192,000
JODEE RAINES	CHIEF OPERATIONS OFFICER	40.00	Officer	$173,039	$0	$173,039
CHERYL P JOHNSON	CHAIR	1.00	Officer Director	$0	$0	$0
REGINALD G DOZIER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
KEVIN PROKOP	VICE CHAIR	1.00	Officer Director	$0	$0	$0
PETER M KELLETT	SECRETARY	1.00	Officer Director	$0	$0	$0
ANDREW STEIN	TREASURER	1.00	Officer Director	$0	$0	$0
GORDON KRATER	MEMBER	1.00	Director	$0	$0	$0
REV DR WENDELL ANTHONY	MEMBER	1.00	Director	$0	$0	$0
DANIEL K ARTONE	MEMBER	1.00	Director	$0	$0	$0
LATRINA EDWARDS	MEMBER	1.00	Director	$0	$0	$0
EVA GARZA DEWAELSCHE	MEMBER	1.00	Director	$0	$0	$0
DOMENICO GRASSO PH D	MEMBER	1.00	Director	$0	$0	$0
KIRK MAYES	MEMBER	1.00	Director	$0	$0	$0
PATRICIA A MCCANN	MEMBER	1.00	Director	$0	$0	$0
FREDA SAMPSON	MEMBER	1.00	Director	$0	$0	$0
REV LARRY L SIMMONS SR	MEMBER	1.00	Director	$0	$0	$0
WILLIAM S TAUBMAN	MEMBER	1.00	Director	$0	$0	$0
MAUREEN D TAYLOR	MEMBER	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
2024	$534,830	$1,143,519	$517,731	$-608,689
2023	$795,946	$1,298,559	$1,149,883	$-502,613
2022	$1,396,761	$1,314,965	$1,715,108	$81,796
2021	$1,123,189	$991,618	$1,665,038	$131,571
2020	$1,166,636	$743,153	$1,546,450	$423,483
2019	$1,112,512	$959,993	$982,226	$152,519
2018	$1,038,595	$1,481,739	$1,036,063	$-443,144