Civic Intelligence

Detroit Promise Scholarship Detroit Promise Zone Authority

EIN 84-3475243 • 501(c)3 • Detroit, MI

Pub. 78 EligibleNTEE T30

Profile

Providing detroit high school graduates with a tuition-assisted path to higher education.

3031 W Grand Boulevard Ste 525Detroit, MI 48202

detroitpromise.com

Siviq Scores

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

Liabilities / Assets

70th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

NTEE T • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

70th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

NTEE T • $5M-$10M nonprofits • Source year 2025

Net Margin

80th percentile

67%

Higher net margin than 80% of similar nonprofits.

NTEE T • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

69th percentile

$0

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE T • $5M-$10M nonprofits • Source year 2025

Asset Growth

97th percentile

221%

Faster asset growth than 97% of similar nonprofits.

NTEE T • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

51st percentile

24%

Faster revenue growth than 51% of similar nonprofits.

NTEE T • $5M-$10M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$5,404,060

Up $3,719,345 (+221%) from 2024

Liabilities

Flat

$0

Flat from 2024

Net Assets

Up

$5,404,060

Up $3,719,345 (+221%) from 2024

Operations
Liabilities / Revenue70th percentileNet Margin80th percentile

Revenue

Up

$5,553,790

Up $1,061,138 (+24%) from 2024

Expenses

Down

$1,834,445

Down $1,395,096 (-43%) from 2024

Net Income

Up

$3,719,345

Up $2,456,234 (+194%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth97th percentile

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

$6.0M$4.0M$2.0M$0Assets 2020: $1Liabilities 2020: $02020Assets 2021: $641,498Liabilities 2021: $0Net Assets 2021: $641,4982021Assets 2022: $2,674,887Liabilities 2022: $0Net Assets 2022: $2,674,8872022Assets 2023: $421,604Liabilities 2023: $0Net Assets 2023: $421,6042023Assets 2024: $1,684,715Liabilities 2024: $0Net Assets 2024: $1,684,7152024Assets 2025: $5,404,060Liabilities 2025: $0Net Assets 2025: $5,404,0602025

Highlighted filing

2025

Assets$5,404,060
Liabilities$0
Net Assets$5,404,060
Open 2025 Filing

Operations Trend

Revenue Growth51st percentile

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $1,817,909Expenses 2021: $1,176,411Net Income 2021: $641,4982021Revenue 2022: $2,653,428Expenses 2022: $620,039Net Income 2022: $2,033,3892022Revenue 2023: $2,451,802Expenses 2023: $4,705,056Net Income 2023: -$2,253,2542023Revenue 2024: $4,492,652Expenses 2024: $3,229,541Net Income 2024: $1,263,1112024Revenue 2025: $5,553,790Expenses 2025: $1,834,445Net Income 2025: $3,719,3452025

Highlighted filing

2025

Revenue$5,553,790
Expenses$1,834,445
Net Income$3,719,345
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$5,404,060
Liabilities
$0
Net assets
$5,404,060
Revenue
$5,553,790
Expenses
$1,834,445
Net income
$3,719,345
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.40$0.00$5.40$5.55$1.83$3.72
2024Detailed filing. Detailed filing data is available for this year.$1.68$0.00$1.68$4.49$3.23$1.26
2023Detailed filing. Detailed filing data is available for this year.$0.42$0.00$0.42$2.45$4.71$2.25
2022Summary only. Only limited summary data is available for this year.$2.67$0.00$2.67$2.65$0.62$2.03
2021Summary only. Only limited summary data is available for this year.$0.64$0.00$0.64$1.82$1.18$0.64
2020Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Sep 2, 2025
Return Version
2024v5.0
Gross Receipts
$5,553,790
Mission and Program Overview

Mission

Providing detroit high school graduates with a tuition-assisted path to higher education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,684,715$5,404,060▲ $3,719,345
Total Assets$1,684,715$5,404,060▲ $3,719,345
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,684,715$5,404,060▲ $3,719,345
Total Net Assets Fund Balance$1,684,715$5,404,060▲ $3,719,345
Total Liabilities and Net Assets / Fund Balance$1,684,715$5,404,060▲ $3,719,345
Compensation and Service Providers
Top Officer Pay69th percentile

Board Members and Trustees

NameTitle
Iris TaylorChair
John ZiraldoVice Chair
Ashley Johnson-varnerBoard Member
Evette GriffieBoard Member
Kayla Roney SmithBoard Member
Lawrence GarciaBoard Member
Peter RemingtonBoard Member
Sherisse ButlerBoard Member
Stacie ClaytonBoard Member
Preston WelborneSecretary
Desirae TolbertTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,434,719
Program Service Revenue
$0
Investment Income
$119,071
Other Revenue
$0
Change in Net Assets
$3,719,345
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,755,247
Other Expenses$79,198
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,755,247--$1,755,247
Fees for Services Management$18,666$44,366-$63,032
Fees for Services Other$4,174$9,577-$13,751
Fees for Services Legal$2,415--$2,415
Total Functional Expenses$1,780,502$53,943$0$1,834,445
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Detroit Regional ChamberDetroit, MI501(c)Scholarship Dispur.$1,755,247
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
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
No
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

“Part vi, section b, line 11b - a copy of the draft tax return was provided to board of directors prior to its submission.”

Form 990, Page 6, Part VI, Line 12C

“Part vi, line 12c - each board director is required to disclose any conflict or potential conflict at the next board of directors meeting following the discovery of the conflict or potential conflict.”

Form 990, Page 6, Part VI, Line 18

“All governing documents (including state of michigan authorizations and memoranda of understandings), policies (including conflict of interest policy), and financial statements are available upon request to any person of the public. Request for inspections are accepted via mail, email, and phone.”

Form 990, Page 6, Part VI, Line 19

“For public viewing, all governing documents (including state of michigan authorizations and memoranda of understandings), policies (including conflict of interest policy), and financial statements are available upon request to any person of the public. Request for inspections are accepted via mail, email, and phone.”

Filing and Contact Details

Filer

Filer Name
Detroit Promise Scholarship
EIN
84-3475243
Phone
3138715500
Address
3031 W GRAND BOULEVARD STE 525, DETROIT, MI 48202

Signing Officer

Name
Desirae Tolbert
Title
Treasurer
Phone
3135960373
Signed
2025-09-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Preston Welborne
Formed
2019
Legal Domicile
Mi
Voting Board Members
11
Independent Board Members
0
Employees
0

Preparer

Firm
Renaissance Financial Group
Address
300 N 5TH AVE STE 140, ANN ARBOR, MI 48104-1467
Preparer
Ann Black
Phone
7349941288
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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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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DESIRAE TOLBERT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
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ReturnHeader/Filer/BusinessNameControlTxt0DETR
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ReturnHeader/Filer/PhoneNum03138715500
ReturnHeader/Filer/USAddress/AddressLine1Txt03031 W GRAND BOULEVARD STE 525
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0300 N 5TH AVE STE 140
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ANN ARBOR
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0481041467
ReturnHeader/PreparerPersonGrp/PhoneNum07349941288
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ANN BLACK
ReturnHeader/ReturnTs02025-09-15T11:01:53-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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