Civic Intelligence

Dfc Qalicb Inc.

990 • Fiscal year 2024 • EIN 87-3844803

Jan 01, 2024 to Dec 31, 2024 • Filed on Aug 18, 2025

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

(313) 960-7700

Siviq Scores

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

Liabilities / Assets

90th percentile

0.88x

Higher debt load relative to assets than 90% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

9.26x

Higher debt load relative to revenue than 96% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

94th percentile

67%

Higher net margin than 94% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

76th percentile

$292,767

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 14.7% of source-year revenue.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

15th percentile

-5.4%

Faster asset growth than 15% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

95th percentile

194%

Faster revenue growth than 95% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$21,077,915

Down $1,193,962 (-5.4%) from 2023

Net Assets

Up

$2,599,599

Up $1,332,622 (+105%) from 2023

Liabilities

Down

$18,478,316

Down $2,526,584 (-12%) from 2023

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin94th percentile

Revenue

Up

$1,996,431

Up $1,317,859 (+194%) from 2023

Expenses

Up

$663,809

Up $651,094 (+5121%) from 2023

Net Income

Up

$1,332,622

Up $666,765 (+100%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth15th 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

2024

Assets$21,077,915
Liabilities$18,478,316
Net Assets$2,599,599
Open 2024 Filing

Operations Trend

Revenue Growth95th percentile

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

2024

Revenue$1,996,431
Expenses$663,809
Net Income$1,332,622
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 18, 2025
Return Version
2024v5.2
Gross Receipts
$1,996,431
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
Land, Buildings, and Equipment, Net$0$19,350,615▲ $19,350,615
Cash and Non-Interest-Bearing Accounts$924,743$476,200▼ $448,543
Savings and Temporary Cash Investments$1,925,119$170,587▼ $1,754,532
Total Assets$22,271,877$21,077,915▼ $1,193,962
Other Assets Total$19,422,015$1,080,513▼ $18,341,502
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,760,947$18,268,185▼ $492,762
Accounts Payable and Accrued Expenses$1,924,901$180,242▼ $1,744,659
Other Liabilities$319,052$29,889▼ $289,163
Total Liabilities$21,004,900$18,478,316▼ $2,526,584
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,266,977$2,599,599▲ $1,332,622
Total Net Assets Fund Balance$1,266,977$2,599,599▲ $1,332,622
Total Liabilities and Net Assets / Fund Balance$22,271,877$21,077,915▼ $1,193,962

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$17,636,799$356,504$17,993,303
Land$1,557,661-$1,557,661
Equipment$156,155-$156,155
Other Assets Org$706,511--
Compensation and Service Providers
Top Officer Pay76th 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
$1,659,100
Program Service Revenue
$333,189
Investment Income
$4,142
Other Revenue
$0
All Other Contributions
$1,559,100
Change in Net Assets
$1,332,622
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$663,809
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
Depreciation Depletion$364,296--$364,296
Interest$233,516--$233,516
Fees for Services Accounting$42,775--$42,775
Advertising$18,264--$18,264
Insurance$4,184--$4,184
Other Expenses$774--$774
Total Functional Expenses$663,809$0$0$663,809
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$29,889
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 300, DETROIT, MI 48226

Signing Officer

Name
Sonya Mays
Title
President & CEO
Phone
3139607700
Signed
2025-08-18
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, 2024. However, the agency's information and tax returns are subject to examination by the appropriate taxing jurisdictions.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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, 2024. HOWEVER, THE AGENCY'S INFORMATION AND TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE APPROPRIATE TAXING JURISDICTIONS.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SONYA MAYS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CRAIG WILLIAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1SECRETARY
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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
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$21,077,915
Liabilities
$18,478,316
Net assets
$2,599,599
Revenue
$1,996,431
Expenses
$663,809
Net income
$1,332,622
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
Peer Organizations

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