Civic Intelligence

Grandmont Rosedale Development Corporation

EIN 38-2885952 • 501(c)3 • Detroit, MI

Profile

The grandmont rosedale development corporation is a non-profit, community- based organization working to preserve and improve the grandmont rosedale neighborhoods of northwest detroit. We take a comprehensive approach to community revitalization, with programs designed to renovate vacant homes, assist local homeowners and businesses, beautify our community and keep our neighborhoods safe and vibrant.

Refreshing map…

19800 Grand River AveDetroit, MI 48223

www.grandmontrosedale.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

70th percentile

0.24x

Higher debt load relative to assets than 70% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

71st percentile

0.26x

Higher debt load relative to revenue than 71% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

88th percentile

48%

Higher net margin than 88% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

65th percentile

$95,769

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

92nd percentile

66%

Faster asset growth than 92% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

96th percentile

240%

Faster revenue growth than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$4,658,609

Up $1,848,066 (+66%) from 2023

Liabilities

Down

$1,106,593

Down $193,270 (-15%) from 2023

Net Assets

Up

$3,552,016

Up $2,041,336 (+135%) from 2023

Revenue

Up

$4,246,385

Up $2,998,591 (+240%) from 2023

Expenses

Up

$2,205,049

Up $858,038 (+64%) from 2023

Net Income

Up

$2,041,336

Up $2,140,553 (+2157%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2010: $1,677,475Liabilities 2010: $349,396Net Assets 2010: $1,328,0792010Assets 2011: $1,694,192Liabilities 2011: $374,577Net Assets 2011: $1,319,6152011Assets 2012: $1,606,140Liabilities 2012: $334,794Net Assets 2012: $1,271,3462012Assets 2013: $2,523,409Liabilities 2013: $1,221,662Net Assets 2013: $1,301,7472013Assets 2014: $2,367,696Liabilities 2014: $697,051Net Assets 2014: $1,670,6452014Assets 2015: $2,048,627Liabilities 2015: $398,568Net Assets 2015: $1,650,0592015Assets 2016: $2,044,897Liabilities 2016: $342,467Net Assets 2016: $1,702,4302016Assets 2017: $2,192,463Liabilities 2017: $320,983Net Assets 2017: $1,871,4802017Assets 2018: $2,077,414Liabilities 2018: $307,945Net Assets 2018: $1,769,4692018Assets 2019: $2,446,281Liabilities 2019: $660,533Net Assets 2019: $1,785,7482019Assets 2020: $3,133,498Liabilities 2020: $1,386,336Net Assets 2020: $1,747,1622020Assets 2021: $3,925,927Liabilities 2021: $2,070,569Net Assets 2021: $1,855,3582021Assets 2022: $3,179,555Liabilities 2022: $1,569,658Net Assets 2022: $1,609,8972022Assets 2023: $2,810,543Liabilities 2023: $1,299,863Net Assets 2023: $1,510,6802023Assets 2024: $4,658,609Liabilities 2024: $1,106,593Net Assets 2024: $3,552,0162024

Highlighted filing

2024

Assets$4,658,609
Liabilities$1,106,593
Net Assets$3,552,016

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $865,1722010Revenue 2011: $2,081,225Expenses 2011: $2,089,689Net Income 2011: -$8,4642011Revenue 2012: $2,178,633Expenses 2012: $2,226,902Net Income 2012: -$48,2692012Revenue 2013: $1,738,614Expenses 2013: $1,708,213Net Income 2013: $30,4012013Revenue 2014: $4,322,445Expenses 2014: $3,953,547Net Income 2014: $368,8982014Revenue 2015: $2,463,805Expenses 2015: $2,484,391Net Income 2015: -$20,5862015Revenue 2016: $1,316,612Expenses 2016: $1,264,635Net Income 2016: $51,9772016Revenue 2017: $994,098Expenses 2017: $770,048Net Income 2017: $224,0502017Revenue 2018: $614,670Expenses 2018: $716,681Net Income 2018: -$102,0112018Revenue 2019: $821,997Expenses 2019: $805,718Net Income 2019: $16,2792019Revenue 2020: $833,799Expenses 2020: $872,385Net Income 2020: -$38,5862020Revenue 2021: $901,710Expenses 2021: $793,514Net Income 2021: $108,1962021Revenue 2022: $876,933Expenses 2022: $1,122,394Net Income 2022: -$245,4612022Revenue 2023: $1,247,794Expenses 2023: $1,347,011Net Income 2023: -$99,2172023Revenue 2024: $4,246,385Expenses 2024: $2,205,049Net Income 2024: $2,041,3362024

Highlighted filing

2024

Revenue$4,246,385
Expenses$2,205,049
Net Income$2,041,336

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.66$1.11$3.55$4.25$2.21$2.04
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.81$1.30$1.51$1.25$1.35$0.10
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.18$1.57$1.61$0.88$1.12$0.25
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.93$2.07$1.86$0.90$0.79$0.11
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.13$1.39$1.75$0.83$0.87$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.45$0.66$1.79$0.82$0.81$0.02
2018Summary only. Only limited summary data is available for this year.$2.08$0.31$1.77$0.61$0.72$0.10
2017Summary only. Only limited summary data is available for this year.$2.19$0.32$1.87$0.99$0.77$0.22
2016Summary only. Only limited summary data is available for this year.$2.04$0.34$1.70$1.32$1.26$0.05
2015Summary only. Only limited summary data is available for this year.$2.05$0.40$1.65$2.46$2.48$0.02
2014Summary only. Only limited summary data is available for this year.$2.37$0.70$1.67$4.32$3.95$0.37
2013Summary only. Only limited summary data is available for this year.$2.52$1.22$1.30$1.74$1.71$0.03
2012Summary only. Only limited summary data is available for this year.$1.61$0.33$1.27$2.18$2.23$0.05
2011Summary only. Only limited summary data is available for this year.$1.69$0.37$1.32$2.08$2.09$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$0.35$1.33$0.87
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$876,933
Mission and Program Overview

Mission

The grandmont rosedale development corporation is a non-profit, community- based organization working to preserve and improve the grandmont rosedale neighborhoods of northwest detroit. We take a comprehensive approach to community revitalization, with programs designed to renovate vacant homes, assist local homeowners and businesses, beautify our community and keep our neighborhoods safe and vibrant.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,499,720$2,534,298▲ $34,578
Other Notes and Loans Receivable, Net$232,656$218,466▼ $14,190
Cash and Non-Interest-Bearing Accounts$366,571$209,886▼ $156,685
Pledges and Grants Receivable$55,852$137,560▲ $81,708
Inventories for Sale or Use$66,675$70,513▲ $3,838
Prepaid Expenses and Deferred Charges$6,228$5,465▼ $763
Accounts Receivable$573$2,467▲ $1,894
Total Assets$3,229,175$3,179,555▼ $49,620
Other Assets Total$900$900→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$956,011$1,073,908▲ $117,897
Deferred Revenue$376,087$376,087→ $0
Accounts Payable and Accrued Expenses$26,911$100,709▲ $73,798
Escrow Account Liability$5,863$18,954▲ $13,091
Other Liabilities$8,945--
Total Liabilities$1,373,817$1,569,658▲ $195,841
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,510,218$1,422,823▼ $87,395
Net Assets With Donor Restrictions$345,140$187,074▼ $158,066
Total Net Assets Fund Balance$1,855,358$1,609,897▼ $245,461
Total Liabilities and Net Assets / Fund Balance$3,229,175$3,179,555▼ $49,620

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,032,243$468,997-
Other Land Buildings$501,173$27,991-
Equipment$882$1,218-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Michael RandallExecutive DiFT$54,580$54,580

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$688,428
Program Service Revenue
$163,023
Investment Income
$16,317
Other Revenue
$9,165
All Other Contributions
$688,428
Change in Net Assets
$-245,461

Audited Revenue Reconciliation

Revenue per Audited Statements
$876,933
Total Revenue per Audited Statements
$876,933
Total Revenue per Form 990
$876,933
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$605,052
Salaries, Compensation, and Employee Benefits$517,342
Total Fundraising Expense$15,762
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$330,983$29,420$7,355$367,758
Fees for Services Other$57,830$5,140$1,285$64,255
Other Employee Benefits$52,399$4,658$1,165$58,222
Current Officers, Directors, Trustees, and Key Employees$49,122$4,366$1,092$54,580
Depreciation Depletion$49,911$2,279$568$52,758
Occupancy$35,313$1,682$419$37,414
Payroll Taxes$33,105$2,943$734$36,782
Insurance$28,656$1,875$468$30,999
Office Expenses$21,476$1,910$478$23,864
Interest$13,038$227$57$13,322
Other Expenses$12,987$8,686$74$8,686
Fees for Services Accounting$7,650$680$170$8,500
Information Technology$5,800$506$129$6,435
Travel$5,170$459$115$5,744
All Other Expenses$4,056$359$90$4,505
Advertising$872$78$1,367$2,317
Total Functional Expenses$1,040,291$66,341$15,762$1,122,394

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,122,394
Total Expenses per Audited Statements$1,122,394
Total Expenses per Form 990$1,122,394
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Copy of form 990 is presented at board meeting for approval.

Form 990, Page 6, Part VI, Line 15A

The board of directors approves compensation for executive director.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Grandmont Rosedale Development Corp
EIN
38-2885952
Phone
3133874732
Address
19800 GRAND RIVER AVE, DETROIT, MI 48223

Signing Officer

Name
Michael Randall
Title
Executive Director
Phone
3133874732
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dale Thomson
Formed
1989
Legal Domicile
Mi
Voting Board Members
14
Independent Board Members
14
Employees
8

Preparer

Firm
Jason F Clausen Pc
Address
16650 15 MILE RD, FRASER, MI 48026
Preparer
Jason F Clausen
Phone
5862164673
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The grandmont rosedale development corporation is a non-profit, community- based organization working to preserve and improve the grandmont rosedale neighborhoods of northwest detroit. We take a comprehensive approach to community revitalization, with programs designed to renovate vacant homes, assist local homeowners and businesses, beautify our community and keep our neighborhoods safe and vibrant.

Form 990, Page 2, Part III, Line 4A

Grandmont rosedale development corporation program accomplishments 2022 grandmont rosedale development corporation remains one of the most well- known and accomplished community development organizations in the detroit area. We organize a wide range of economic development and community engagement programs designed to help our community prosper as a place to live, work, shop and play. Our three strategic priorities include: 1. Undertake housing initiatives that preserve and promote homeownership, address chronically vacant properties and provide different types of housing to meet the changing needs of our community. 2. Employ economic development strategies that catalyze the market and create opportunity for economic mobility through entrepreneurship and business development. 3. Engage the community in collective action to generate solutions to community problems. Housing: one of our core housing strategies is to purchase, renovate and re-sell or lease vacant homes to new occupants. To date, we have renovated and sold over 126 single-family homes. In each case, we transformed a neighborhood eyesore into a community asset. We have also built three new homes. In 2022, we focused on gearing up to begin renovating two historic apartment buildings on west outer drive. Renovation will be complete in summer 2024. In total, we have completed 125 home repair projects in grandmont rosedale, including four that were completed in 2022. We have one single family home in the pre-development pipeline. Economic development: in addition to housing renovation, grdc engages in commercial renovation and small business support. Grdc has renovated a five-unit commercial building on grand river, (home to several desirable small businesses) as well as a co-working space, (home to many micro business members). We also purchased a vacant commercial property and attracted a local independent restaurateur, detroit vegan soul, which opened a full service restaurant. In 2022, we celebrated the grand opening of our newest commercial tenant, hm style lounge and chill lounge, a new neighborhood watering hole. In 2022 we retained 35 members in our co-working space, served 75 entrepreneurs will supportive services and hosted 6 workshops. In our seasonal farmers' market, we hosted 54 small business vendors and provided free family programming through 16 community partners. In general, we provided small business support to over 180 businesses throughout the year. Grdc is also in the pre-development phase of 19505 grand river, a long blighted and vacant site that will become the first new construction mixed- use development in this community in over 30 years. Community engagement: grdc organizes neighborhood residents and other volunteers to clean up and beautify vacant lots and other public spaces. Throughout our history, we have organized hundreds of clean-ups, flower plantings, graffiti removals and public art installations. In 2022, we began cleaning up three vacant lots where we plan to add a butterfly garden, rose garden and "peace" garden. We also involved the community in a variety of engagement activities such as focus groups, advisory councils, online surveys, public meetings and task forces to plan and inform a variety of grdc programs including vacant properties, crime prevention, economic development, housing, and the environment.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0THE GRANDMONT ROSEDALE DEVELOPMENT CORPORATION IS A NON-PROFIT, COMMUNITY- BASED ORGANIZATION WORKING TO PRESERVE AND IMPROVE THE GRANDMONT ROSEDALE NEIGHBORHOODS OF NORTHWEST DETROIT. WE TAKE A COMPREHENSIVE APPROACH TO COMMUNITY REVITALIZATION, WITH PROGRAMS DESIGNED TO RENOVATE VACANT HOMES, ASSIST LOCAL HOMEOWNERS AND BUSINESSES, BEAUTIFY OUR COMMUNITY AND KEEP OUR NEIGHBORHOODS SAFE AND VIBRANT.
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IRS990/Desc0GRANDMONT ROSEDALE DEVELOPMENT CORPORATION PROGRAM ACCOMPLISHMENTS 2022 GRANDMONT ROSEDALE DEVELOPMENT CORPORATION REMAINS ONE OF THE MOST WELL- KNOWN AND ACCOMPLISHED COMMUNITY DEVELOPMENT ORGANIZATIONS IN THE DETROIT AREA. WE ORGANIZE A WIDE RANGE OF ECONOMIC DEVELOPMENT AND COMMUNITY ENGAGEMENT PROGRAMS DESIGNED TO HELP OUR COMMUNITY PROSPER AS A PLACE TO LIVE, WORK, SHOP AND PLAY. OUR THREE STRATEGIC PRIORITIES INCLUDE: 1. UNDERTAKE HOUSING INITIATIVES THAT PRESERVE AND PROMOTE HOMEOWNERSHIP, ADDRESS CHRONICALLY VACANT PROPERTIES AND PROVIDE DIFFERENT TYPES OF HOUSING TO MEET THE CHANGING NEEDS OF OUR COMMUNITY. 2. EMPLOY ECONOMIC DEVELOPMENT STRATEGIES THAT CATALYZE THE MARKET AND CREATE OPPORTUNITY FOR ECONOMIC MOBILITY THROUGH ENTREPRENEURSHIP AND BUSINESS DEVELOPMENT. 3. ENGAGE THE COMMUNITY IN COLLECTIVE ACTION TO GENERATE SOLUTIONS TO COMMUNITY PROBLEMS. HOUSING: ONE OF OUR CORE HOUSING STRATEGIES IS TO PURCHASE, RENOVATE AND RE-SELL OR LEASE VACANT HOMES TO NEW OCCUPANTS. TO DATE, WE HAVE RENOVATED AND SOLD OVER 126 SINGLE-FAMILY HOMES. IN EACH CASE, WE TRANSFORMED A NEIGHBORHOOD EYESORE INTO A COMMUNITY ASSET. WE HAVE ALSO BUILT THREE NEW HOMES. IN 2022, WE FOCUSED ON GEARING UP TO BEGIN RENOVATING TWO HISTORIC APARTMENT BUILDINGS ON WEST OUTER DRIVE. RENOVATION WILL BE COMPLETE IN SUMMER 2024. IN TOTAL, WE HAVE COMPLETED 125 HOME REPAIR PROJECTS IN GRANDMONT ROSEDALE, INCLUDING FOUR THAT WERE COMPLETED IN 2022. WE HAVE ONE SINGLE FAMILY HOME IN THE PRE-DEVELOPMENT PIPELINE. ECONOMIC DEVELOPMENT: IN ADDITION TO HOUSING RENOVATION, GRDC ENGAGES IN COMMERCIAL RENOVATION AND SMALL BUSINESS SUPPORT. GRDC HAS RENOVATED A FIVE-UNIT COMMERCIAL BUILDING ON GRAND RIVER, (HOME TO SEVERAL DESIRABLE SMALL BUSINESSES) AS WELL AS A CO-WORKING SPACE, (HOME TO MANY MICRO BUSINESS MEMBERS). WE ALSO PURCHASED A VACANT COMMERCIAL PROPERTY AND ATTRACTED A LOCAL INDEPENDENT RESTAURATEUR, DETROIT VEGAN SOUL, WHICH OPENED A FULL SERVICE RESTAURANT. IN 2022, WE CELEBRATED THE GRAND OPENING OF OUR NEWEST COMMERCIAL TENANT, HM STYLE LOUNGE AND CHILL LOUNGE, A NEW NEIGHBORHOOD WATERING HOLE. IN 2022 WE RETAINED 35 MEMBERS IN OUR CO-WORKING SPACE, SERVED 75 ENTREPRENEURS WILL SUPPORTIVE SERVICES AND HOSTED 6 WORKSHOPS. IN OUR SEASONAL FARMERS' MARKET, WE HOSTED 54 SMALL BUSINESS VENDORS AND PROVIDED FREE FAMILY PROGRAMMING THROUGH 16 COMMUNITY PARTNERS. IN GENERAL, WE PROVIDED SMALL BUSINESS SUPPORT TO OVER 180 BUSINESSES THROUGHOUT THE YEAR. GRDC IS ALSO IN THE PRE-DEVELOPMENT PHASE OF 19505 GRAND RIVER, A LONG BLIGHTED AND VACANT SITE THAT WILL BECOME THE FIRST NEW CONSTRUCTION MIXED- USE DEVELOPMENT IN THIS COMMUNITY IN OVER 30 YEARS. COMMUNITY ENGAGEMENT: GRDC ORGANIZES NEIGHBORHOOD RESIDENTS AND OTHER VOLUNTEERS TO CLEAN UP AND BEAUTIFY VACANT LOTS AND OTHER PUBLIC SPACES. THROUGHOUT OUR HISTORY, WE HAVE ORGANIZED HUNDREDS OF CLEAN-UPS, FLOWER PLANTINGS, GRAFFITI REMOVALS AND PUBLIC ART INSTALLATIONS. IN 2022, WE BEGAN CLEANING UP THREE VACANT LOTS WHERE WE PLAN TO ADD A BUTTERFLY GARDEN, ROSE GARDEN AND "PEACE" GARDEN. WE ALSO INVOLVED THE COMMUNITY IN A VARIETY OF ENGAGEMENT ACTIVITIES SUCH AS FOCUS GROUPS, ADVISORY COUNCILS, ONLINE SURVEYS, PUBLIC MEETINGS AND TASK FORCES TO PLAN AND INFORM A VARIETY OF GRDC PROGRAMS INCLUDING VACANT PROPERTIES, CRIME PREVENTION, ECONOMIC DEVELOPMENT, HOUSING, AND THE ENVIRONMENT.
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