Civic Intelligence

Dfc Qalicb Inc.

990 • Fiscal year 2022 • EIN 87-3844803

Jan 01, 2022 to Dec 31, 2022 • Filed on Jul 24, 2023

Organization ProfileWWW.DEVELOPDETROIT.ORG
1452 Randolph Street Suite 300Detroit, MI 48226

(313) 960-7700

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

93rd percentile

0.97x

Higher debt load relative to assets than 93% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

99th percentile

33.46x

Higher debt load relative to revenue than 99% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

99th percentile

100%

Higher net margin than 99% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

82nd percentile

$330,505

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 54.9% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

100th percentile

2074024700%

Faster asset growth than 100% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$20,740,248

Up $20,740,247 (+2074024700%) from 2021

Net Assets

Up

$601,120

Up $601,120 from 2021

Liabilities

Up

$20,139,128

Up $20,139,128 from 2021

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin99th percentile

Revenue

Up

$601,955

Up $601,955 from 2021

Expenses

Up

$835

Up $835 from 2021

Net Income

Up

$601,120

Up $601,120 from 2021

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2021: $1Liabilities 2021: $0Net Assets 2021: $02021Assets 2022: $20,740,248Liabilities 2022: $20,139,128Net Assets 2022: $601,1202022Assets 2023: $22,271,877Liabilities 2023: $21,004,900Net Assets 2023: $1,266,9772023Assets 2024: $21,077,915Liabilities 2024: $18,478,316Net Assets 2024: $2,599,5992024

Highlighted filing

2022

Assets$20,740,248
Liabilities$20,139,128
Net Assets$601,120
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0Revenue 2021: $0Expenses 2021: $0Net Income 2021: $02021Revenue 2022: $601,955Expenses 2022: $835Net Income 2022: $601,1202022Revenue 2023: $678,572Expenses 2023: $12,715Net Income 2023: $665,8572023Revenue 2024: $1,996,431Expenses 2024: $663,809Net Income 2024: $1,332,6222024

Highlighted filing

2022

Revenue$601,955
Expenses$835
Net Income$601,120
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 24, 2023
Return Version
2022v5.0
Gross Receipts
$601,955
Mission and Program Overview

Mission

Dfc qalicb, inc. (dfc qalicb) is a michigan nonprofit corporation formed for the purpose of holding real estate related to the food commons project.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$12,447,668-
Cash and Non-Interest-Bearing Accounts-$574,612-
Total Assets$0$20,740,248▲ $20,740,248
Other Assets Total$0$7,717,968▲ $7,717,968
Liabilities
Mortgage Notes Payable Secured by Investment Property-$18,760,947-
Accounts Payable and Accrued Expenses-$1,347,111-
Other Liabilities$0$31,070▲ $31,070
Total Liabilities$0$20,139,128▲ $20,139,128
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$601,120-
Total Net Assets Fund Balance$0$601,120▲ $601,120
Total Liabilities and Net Assets / Fund Balance$0$20,740,248▲ $20,740,248

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$389,586--
Compensation and Service Providers
Top Officer Pay82nd percentile

Board Members and Trustees

NameTitle
Malik YakiniChair
Sonya MaysPresident & CEO
Meredith FreemanVice Chair
Craig WillianSecretary
Waybon Dewayne WellsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$577,525
Program Service Revenue
$0
Investment Income
$24,430
Other Revenue
$0
All Other Contributions
$577,525
Change in Net Assets
$601,120
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$835
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$835--$835
Total Functional Expenses$835$0$0$835
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$31,070
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“There are no committees that hold authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“The board of directors reviews the form 990.”

Form 990, Part VI, Section B, Line 12C

“Possible conflicts of interest are reviewed and are noted as necessary at board meetings.”

Form 990, Part VI, Section C, Line 19

“All governing documents are available for inspection by the public at the organization's offices during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Dfc Qalicb Inc
EIN
87-3844803
Phone
3139607700
Address
1452 RANDOLPH STREET SUITE 300, DETROIT, MI 48226

Signing Officer

Name
Sonya Mays
Title
President & CEO
Phone
3139607700
Signed
2023-07-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sonya Mays
Formed
2021
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Aafcpas Inc
Address
50 WASHINGTON STREET, WESTBOROUGH, MA 01581
Preparer
Andrew R Puricelli CPA
Phone
5083669100
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The selection of the independent auditor and the audit process are monitored by the full board of directors. This process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The agency accounts for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the consolidating financial statements regarding a tax position taken or expected to be taken in a tax return. The agency has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the consolidating financial statements at december 31, 2022. However, the agency's information and tax returns are subject to examination by the appropriate taxing jurisdictions.”

Raw XML AppendixShowing 400 of 412 raw XML fields

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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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0330505
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1230479
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DEVELOP DETROIT, INC. HAS INSTITUTED A FORMAL BOARD PROCESS FOR CEO PERFORMANCE AND COMPENSATION WHICH THE BOARD WILL FORMALLY APPROVE THE CEO SALARY. THE CEO REVIEWS THE COMPENSATION FOR ALL SENIOR STAFF.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES THAT HOLD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS REVIEWS THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2POSSIBLE CONFLICTS OF INTEREST ARE REVIEWED AND ARE NOTED AS NECESSARY AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL GOVERNING DOCUMENTS ARE AVAILABLE FOR INSPECTION BY THE PUBLIC AT THE ORGANIZATION'S OFFICES DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE SELECTION OF THE INDEPENDENT AUDITOR AND THE AUDIT PROCESS ARE MONITORED BY THE FULL BOARD OF DIRECTORS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0DEVELOP DETROIT INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0811368616
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0COMMUNITY DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01452 RANDOLPH STREET SUITE 300
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0DETROIT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd048226
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt00
IRS990/TotalAssetsEOYAmt020740248
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt020740248
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0577525
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0835
IRS990/TotalFunctionalExpensesGrp/TotalAmt0835
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt020139128
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt020139128
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0601120
IRS990/TotalOtherCompensationAmt064546
IRS990/TotalProgramServiceExpensesAmt0835
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt024430
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0601955
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt020740248
IRS990/TotReportableCompRltdOrgAmt0496438
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01452 RANDOLPH STREET SUITE 300
IRS990/USAddress/CityNm0DETROIT
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048226
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.DEVELOPDETROIT.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SONYA MAYS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT & CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03139607700
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-07-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DFC QALICB INC
ReturnHeader/Filer/BusinessNameControlTxt0DFCQ
ReturnHeader/Filer/EIN0873844803
ReturnHeader/Filer/PhoneNum03139607700
ReturnHeader/Filer/USAddress/AddressLine1Txt01452 RANDOLPH STREET SUITE 300
ReturnHeader/Filer/USAddress/CityNm0DETROIT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048226
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042571780
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0AAFCPAS INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt050 WASHINGTON STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WESTBOROUGH

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$20,740,248
Liabilities
$20,139,128
Net assets
$601,120
Revenue
$601,955
Expenses
$835
Net income
$601,120
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.1$18.5$2.60$2.00$0.66$1.33
2023Detailed filing. Detailed filing data is available for this year.$22.3$21.0$1.27$0.68$0.01$0.67
2022Detailed filing. Detailed filing data is available for this year.$20.7$20.1$0.60$0.60$0.00$0.60
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00