E WARREN DEVELOPMENT CORPORATION

EIN: 843003783 501(c)(3) Community Improvement

Detroit, MI

Total Revenue
$2,464,600
Total Expenses
$640,615
Total Assets
$2,500,635
Net Assets
$2,277,475
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
MI
Principal Officer
Joseph Rashid
Phone
3135757014
Tax Period
2023-01-01 to 2023-12-31

E WARREN DEVELOPMENT CORPORATION, founded in 2019, is a community nonprofit in the Community Improvement sector that reported $2.5M in total revenue in fiscal year 2023. Revenue surged 422% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.8M, a strong 74% operating margin.

Mission

TO SUPPORT AND ENHANCE THE E. WARREN COMMERCIAL CORRIDOR AND ADJACENT NEIGHBORHOOD THROUGH COLLABORATION, COMMUNITY ENGAGEMENT AND EQUITABLE DEVELOPMENT.

Program Service Accomplishments

Program 1
Expenses: $426,647 Revenue: $16,478

THE ORGANIZATION HOSTED 26 COMMUNITY EVENTS PROVIDING RESOURCES AND SPURRING FOOT TRAFFIC TO LOCAL BUSINESSES TO SPUR ECONOMIC GROWTH ALONG THE EAST WARREN COMMERCIAL CORRIDOR. ADDITIONALLY, THE...

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THE ORGANIZATION HOSTED 26 COMMUNITY EVENTS PROVIDING RESOURCES AND SPURRING FOOT TRAFFIC TO LOCAL BUSINESSES TO SPUR ECONOMIC GROWTH ALONG THE EAST WARREN COMMERCIAL CORRIDOR. ADDITIONALLY, THE ORGANIZATION SUPPORTED 63 LOCAL BUSINESSES PROVIDING THEM TECHNICAL ASSISTANCE AND HELPING TO STRENGTHEN OUR COMMERCIAL CORRIDOR. ALL OF WHICH SUPPORT OUR MISSION TO SUPPORT AND ENHANCE THE E. WARREN COMMERCIAL CORRIDOR THROUGH COLLABORATION, COMMUNITY ENGAGEMENT AND EQUITABLE 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 (2023)

Revenue Breakdown

Contributions & Grants $2,448,122
Program Service Revenue $16,478
Investment Income $0
Other Revenue $0
TOTAL REVENUE $2,464,600

Expense Breakdown

Grants Paid $0
Salaries & Benefits $307,159
Fundraising Expenses $55,486
Program Expenses $426,647
Other Expenses $333,456
TOTAL EXPENSES $640,615

Year-over-Year Comparison

2023 2022 Change
Revenue $2,464,600 $471,732 +4.2%
Expenses $640,615 $87,990 +6.3%
Net Income $1,823,985 $383,742 +3.8%
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

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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
3
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
5
$114,782
Total Directors
4
$0
Key Employees
1
$114,782
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Joseph Rashid Executive Director 40
Officer Key Emp Highest
$114,782 $0 $114,782
SEAN RIDDELL Member 2
Director
$0 $0 $0
Scott Field Member 2
Director
$0 $0 $0
ISAAC HUNTER JR Member 2
Director
$0 $0 $0
Candice Meeks Member 2
Director
$0 $0 $0
Marcia Spivey Board President 2
Officer
$0 $0 $0
DR ALAINA JACKSON Vice President 2
Officer
$0 $0 $0
MIAH DAVIS Treasurer 2
Officer
$0 $0 $0
LARISSA RICHARDSON Secretary 2
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 $2,464,600 $640,615 $2,500,635 $1,823,985
2022 $471,732 $87,990 $838,769 $383,742
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