DETROIT PROGRESS FUND

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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

2014

Legal Domicile

Principal Officer

JONATHAN QUARLES

Phone

5175151937

Tax Period

2023-01-01 to 2023-12-31

DETROIT PROGRESS FUND, founded in 2014, is a small nonprofit that reported $469K in total revenue in fiscal year 2023. Revenue surged 138% from the prior year, signaling strong growth momentum. Expenses of $541K exceeded revenue, resulting in a 15% operating deficit.

Mission

TO PROMOTE THE CITY OF DETROIT'S TURNAROUND AND TO SUPPORT THE MAYOR OF THE CITY OF DETROIT'S AGENDA.

Program Service Accomplishments

Program 1

Expenses: $435,713

IN SUPPORT OF DETROIT'S TURNAROUND, DETROIT PROGRESS FUND ASSISTS THE OFFICE OF THE MAYOR WITH EXPENDITURES NECESSARY TO CONDUCT BUSINESS FOR THE CITY, BUT FOR WHICH THERE ARE NO FUNDS AVAILABLE IN THE CITY BUDGET. EACH DISBURSEMENT IS REVIEWED AND APPROVED BY ITS BOARD FOR CONSISTENCY WITH ITS POLICIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $469,381

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $469,381

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $79,440

Program Expenses $435,713

Other Expenses $540,877

TOTAL EXPENSES $540,877

Year-over-Year Comparison

	2023	2022	Change
Revenue	$469,381	$196,819	+1.4%
Expenses	$540,877	$253,751	+1.1%
Net Income	$-71,496	$-56,932	+0.3%

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

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TATIANA GRANT	VICE PRESIDE	N/A	Officer	$0	$0	$0
DAVID KATZ	OFFICER	N/A	Officer	$0	$0	$0
RENAE MOORE	ASSISTANT SE	N/A	Officer	$0	$0	$0
JONATHAN QUARLES	PRESIDENT	N/A	Officer	$0	$0	$0
TRUNETTA ROACH	TREASURER	N/A	Officer	$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	$469,381	$540,877	$5,236	$-71,496
2022	$196,819	$253,751	$75,311	$-56,932
2021	$204,291	$111,873	$131,449	$92,418