METRO DETROIT BLACK CHAMBER OF COMMERCE FOUNDATION

EIN: 853465384 501(c)(3)

DETROIT, MI

Total Revenue
$1,502,535
Total Expenses
$391,755
Total Assets
$1,253,636
Net Assets
$1,253,636
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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
2020
Legal Domicile
MI
Principal Officer
CHARITY DEAN
Phone
3137178397
Tax Period
2022-01-01 to 2022-12-31

METRO DETROIT BLACK CHAMBER OF COMMERCE FOUNDATION, founded in 2020, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2022. Revenue surged 940% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 74% operating margin.

Mission

TO DEVELOP PROGRAMS AND ADVOCATE FOR POLICIES THAT RESULT IN PROFITABLE AND SUSTAINABLE BLACK-OWNED BUSINESSES THAT ARE CONNECTED TO PUBLIC AND PRIVATE ECONOMIC OPPORTUNITIES, WHILE BUILDING TRUSTED RELATIONSHIPS

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,453,955
Program Service Revenue $105,534
Investment Income $0
Other Revenue $-56,954
TOTAL REVENUE $1,502,535

Expense Breakdown

Grants Paid $0
Salaries & Benefits $245,294
Fundraising Expenses $32,766
Program Expenses $324,050
Other Expenses $146,461
TOTAL EXPENSES $391,755

Year-over-Year Comparison

2022 2021 Change
Revenue $1,502,535 $144,478 +9.4%
Expenses $391,755 $1,582 +246.6%
Net Income $1,110,780 $142,896 +6.8%
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

Financial Distress Indicator

Liquidity & Cash Position

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

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Governance

Voting Members
16
Independent Members
15
Employees
N/A
Volunteers
50

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
$341,000
Total Directors
16
$180,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHARITY DEAN PRESIDENT AND C.E.O. 20.00
Officer Director
$90,000 $0 $180,000
CHARLES NOLEN CHAIR 0.50
Officer Director
$0 $0 $0
KERRY BUFFINGTON VICE-CHAIR 0.50
Officer Director
$0 $0 $0
RICHARD HOSEY TREASURER 0.50
Officer Director
$0 $0 $0
LATOYA HENRY SECRETARY 0.50
Officer Director
$0 $0 $0
JOSEPH BOWMAN DIRECTOR 0.50
Director
$0 $0 $0
KANDISS ECTON DIRECTOR 0.50
Director
$0 $0 $0
RITA FIELDS DIRECTOR 0.50
Director
$0 $0 $0
REGINA GAINES DIRECTOR 0.50
Director
$0 $0 $0
TATIANA GRANT DIRECTOR 0.50
Director
$0 $0 $0
ROD HARDAMON DIRECTOR 0.50
Director
$0 $0 $0
JOSEPH HINES DIRECTOR 0.50
Director
$0 $0 $0
HARVEY HOLLINS DIRECTOR 0.50
Director
$0 $0 $0
BRIAN MCKINNEY DIRECTOR 0.50
Director
$0 $0 $0
DANIELLE NORTH DIRECTOR 0.50
Director
$0 $0 $0
BIANCA WILSON DIRECTOR 0.50
Director
$0 $0 $0
KAIWAN BOWMAN CHIEF OPERATING OFFICER 24.00
Officer
$96,600 $0 $161,000
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 No data No data No data No data
2022 $1,502,535 $391,755 $1,253,636 $1,110,780
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