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Detroit Development Fund

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Community Improvement, Capacity Building / Management Services for Small Business, Entrepreneurs (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$4.15M (2023)

Expenses
$2.69M (2023)

Total Assets
$20.3M (2023)

Total Liabilities
$10.6M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,151,318
Expenses
$2,690,924
Net Income
$1,460,394
Net Assets
$9,729,340
Notable Sources of Revenue Percent of Total Revenue
Contributions $3,205,017
77.2%
Program Services $903,944
21.8%
Investment Income $39,796
1.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $2,561
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $183,507
6.8%
Professional Fundraising Fees $0
Other Salaries and Wages $962,848
35.8%
Assets/Debt
Total Assets $20,285,195
Total Liabilities $10,555,855
Net Assets $9,729,340
Compensation
Key Employees and Officers Compensation Related Other
Ray Waters (President) $159,692 $0 $23,814
Deborah Jones (Vp Of Operations) $156,770 $0 $19,642
John Schoeniger (Loan Fund Manager) $144,192 $0 $32,398
Erin Grant (Director Of Ddf Microloan) $114,000 $0 $25,614
Angelia Sharp (Senior Loan Officer) $113,192 $0 $25,432
Steve Mondozzi (Chief Financial Officer) $111,000 $0 $0
Dolores A Sturtivant (Board Chair) $0 $0 $0
Ronald C Frederick (Treasurer) $0 $0 $0
Diana Stewart (Director) $0 $0 $0
Kathy Wendler (Director) $0 $0 $0
Gail Perry Mason (Director) $0 $0 $0
Linda Smith (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,234,640
Expenses
$2,405,692
Net Income
$828,948
Net Assets
$9,001,653
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,458,186
76.0%
Program Services $738,240
22.8%
Investment Income $13,214
0.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $25,000
0.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $302,008
12.6%
Professional Fundraising Fees $0
Other Salaries and Wages $874,745
36.4%
Assets/Debt
Total Assets $18,151,383
Total Liabilities $9,149,730
Net Assets $9,001,653
Compensation
Key Employees and Officers Compensation Related Other
Ray Waters (President) $151,606 $0 $24,121
Deborah Jones (Vp Of Operations) $144,629 $0 $22,078
John Schoeniger (Loan Fund Manager) $134,392 $0 $20,312
Steve Mondozzi (Chief Financial Officer) $114,000 $0 $0
Angelia Sharp (Senior Loan Officer) $108,829 $0 $16,485
Erin Grant (Director Of Ddf Microloan Fund) $100,193 $0 $15,681
Dolores A Sturtivant (Chair) $0 $0 $0
Ronald C Frederick (Treasurer) $0 $0 $0
Diana Stewart (Director) $0 $0 $0
Kathy Wendler (Director) $0 $0 $0
Gail Perry Mason (Director) $0 $0 $0
Linda Smith (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,941,920
Expenses
$2,203,336
Net Income
$738,584
Net Assets
$8,636,996
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,354,915
80.0%
Program Services $584,323
19.9%
Investment Income $2,682
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $287,536
13.1%
Professional Fundraising Fees $0
Other Salaries and Wages $836,821
38.0%
Assets/Debt
Total Assets $19,500,518
Total Liabilities $10,863,522
Net Assets $8,636,996
Compensation
Key Employees and Officers Compensation Related Other
Ray Waters (President) $145,886 $0 $20,946
Deborah Jones (Director Of Dclf) $143,874 $0 $20,693
John Schoeniger (Loan Fund Manager) $136,386 $0 $19,528
Steve Mondozzi (Chief Financial Officer) $116,000 $0 $0
Angelia Sharp (Senior Loan Officer) $105,499 $0 $15,124
Dolores A Sturtivant (Chair) $0 $0 $0
Ronald C Frederick (Treasurer) $0 $0 $0
Diana Stewart (Director) $0 $0 $0
Kathy Wendler (Director) $0 $0 $0
Gail Perry Mason (Director) $0 $0 $0
Linda Smith (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,242,938
Expenses
$3,039,382
Net Income
$203,556
Net Assets
$8,284,044
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,558,876
78.9%
Program Services $673,972
20.8%
Investment Income $5,225
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $4,865
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $302,145
9.9%
Professional Fundraising Fees $0
Other Salaries and Wages $857,393
28.2%
Assets/Debt
Total Assets $19,308,406
Total Liabilities $11,024,362
Net Assets $8,284,044
Compensation
Key Employees and Officers Compensation Related Other
Ray Waters (President) $147,782 $0 $21,863
John Schoeniger (Loan Fund Manager) $136,690 $0 $20,174
Steve Mondozzi (Chief Financial Officer) $132,500 $0 $0
Deborah Jones (Director Of Dclf) $121,582 $0 $18,128
Angelia Sharp (Senior Loan Officer) $104,962 $0 $15,512
Kathleen H Wendler (Chair) $0 $0 $0
Ronald C Frederick (Treasurer) $0 $0 $0
Diana Stewart (Director) $0 $0 $0
Dolores A Sturtivant (Director) $0 $0 $0
Gail Perry Mason (Director) $0 $0 $0
Linda Smith (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,512,237
Expenses
$3,301,507
Net Income
-$1,789,270
Net Assets
$8,182,737
Notable Sources of Revenue Percent of Total Revenue
Contributions $824,949
54.6%
Program Services $653,116
43.2%
Investment Income $14,872
1.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $19,300
1.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $382,316
11.6%
Professional Fundraising Fees $0
Other Salaries and Wages $856,382
25.9%
Assets/Debt
Total Assets $18,710,763
Total Liabilities $10,528,026
Net Assets $8,182,737
Compensation
Key Employees and Officers Compensation Related Other
Ray Waters (President) $185,759 $0 $58,183
John Schoeniger (Loan Fund Manager) $140,796 $0 $47,962
Steve Mondozzi (Chief Financial Officer) $138,375 $0 $0
Deborah Jones (Director) $107,576 $0 $36,651
Elizabeth Freitas (Loan Portfolio Manager) $100,519 $0 $33,686
Kathleen H Wendler (Chair) $0 $0 $0
Ronald C Frederick (Treasurer) $0 $0 $0
Diana Stewart (Director) $0 $0 $0
Dolores A Sturtivant (Director) $0 $0 $0
Gail Perry Mason (Director) $0 $0 $0
Linda Smith (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,781,233
Expenses
$3,588,923
Net Income
-$1,807,690
Net Assets
$10,657,032
Notable Sources of Revenue Percent of Total Revenue
Contributions $985,090
55.3%
Program Services $750,727
42.1%
Investment Income $18,639
1.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $26,777
1.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $352,174
9.8%
Professional Fundraising Fees $0
Other Salaries and Wages $819,791
22.8%
Assets/Debt
Total Assets $22,095,710
Total Liabilities $11,438,678
Net Assets $10,657,032
Compensation
Key Employees and Officers Compensation Related Other
Ray Waters (President) $159,596 $0 $53,897
John Schoeniger (Loan Fund Manager) $144,451 $0 $43,450
Steve Mondozzi (Chief Financial Officer) $132,300 $0 $0
Elizabeth Freitas (Loan Portfolio Manager) $105,648 $0 $38,104
Kathleen H Wendler (Chair) $0 $0 $0
Ronald C Frederick (Treasurer) $0 $0 $0
Diana Stewart (Director) $0 $0 $0
Dolores A Sturtivant (Director) $0 $0 $0
Gail Perry Mason (Director) $0 $0 $0
Linda Smith (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,935,859
Expenses
$3,660,598
Net Income
$3,275,261
Net Assets
$13,355,010
Notable Sources of Revenue Percent of Total Revenue
Contributions $6,023,231
86.8%
Program Services $891,121
12.8%
Investment Income $6,510
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $14,997
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $339,312
9.3%
Professional Fundraising Fees $0
Other Salaries and Wages $694,545
19.0%
Assets/Debt
Total Assets $24,841,420
Total Liabilities $11,486,410
Net Assets $13,355,010
Compensation
Key Employees and Officers Compensation Related Other
Ray Waters (President) $160,441 $0 $52,735
John Schoeniger (Lending Officer) $138,678 $0 $42,845
Steve Mondozzi (Chief Financial Officer) $121,000 $0 $0
Kathleen H Wendler (Chair) $0 $0 $0
Ronald C Frederick (Treasurer) $0 $0 $0
Diana Stewart (Director) $0 $0 $0
Dolores A Sturtivant (Director) $0 $0 $0
Gail Perry Mason (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$5,125,474
Expenses
$2,959,883
Net Income
$2,165,591
Net Assets
$10,149,553
Notable Sources of Revenue Percent of Total Revenue
Contributions $4,376,757
85.4%
Program Services $734,182
14.3%
Investment Income $5,655
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $8,880
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $312,067
10.5%
Professional Fundraising Fees $0
Other Salaries and Wages $576,220
19.5%
Assets/Debt
Total Assets $21,380,112
Total Liabilities $11,230,559
Net Assets $10,149,553
Compensation
Key Employees and Officers Compensation Related Other
Ray Waters (President) $145,727 $0 $50,381
John Schoeniger (Lending Officer) $132,851 $0 $40,341
Steve Mondozzi (Chief Financial Officer) $111,167 $0 $0
Kathleen H Wendler (Chair) $0 $0 $0
Ronald C Frederick (Treasurer) $0 $0 $0
Diana Stewart (Director) $0 $0 $0
Dolores A Sturtivant (Director) $0 $0 $0
Gail Perry Mason (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,350,689
Expenses
$2,503,224
Net Income
$3,847,465
Net Assets
$8,518,333
Notable Sources of Revenue Percent of Total Revenue
Contributions $5,767,254
90.8%
Program Services $572,772
9.0%
Investment Income $6,477
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $4,186
0.1%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $294,664
11.8%
Professional Fundraising Fees $0
Other Salaries and Wages $527,235
21.1%
Assets/Debt
Total Assets $19,213,585
Total Liabilities $10,695,252
Net Assets $8,518,333
Compensation
Key Employees and Officers Compensation Related Other
Ray Waters (President) $135,854 $0 $46,493
John Schoeniger (Lending Officer) $126,963 $0 $39,196
Steve Mondozzi (Chief Financial Officer) $104,000 $0 $0
Kathleen H Wendler (Chair) $0 $0 $0
Ronald C Frederick (Treasurer) $0 $0 $0
Diana Stewart (Director) $0 $0 $0
Dolores A Sturtivant (Director) $0 $0 $0
Gail Perry Mason (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,322,701
Expenses
$2,192,548
Net Income
$130,153
Net Assets
$5,001,047
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,687,000
72.6%
Program Services $607,369
26.1%
Investment Income $8,121
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $20,211
0.9%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $267,953
12.2%
Professional Fundraising Fees $0
Other Salaries and Wages $452,175
20.6%
Assets/Debt
Total Assets $16,037,303
Total Liabilities $11,036,256
Net Assets $5,001,047

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,291,498
Expenses
$2,433,115
Net Income
-$1,141,617
Net Assets
$5,521,017
Notable Sources of Revenue Percent of Total Revenue
Contributions $702,500
54.4%
Program Services $579,359
44.9%
Investment Income $9,639
0.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $222,427
9.1%
Professional Fundraising Fees $0
Other Salaries and Wages $450,986
18.5%
Assets/Debt
Total Assets $15,680,672
Total Liabilities $10,159,655
Net Assets $5,521,017
Compensation
Key Employees and Officers Compensation Related Other
Ray Waters (President) $126,239 $0 $15,995
John Schoeniger (Lending Officer) $116,214 $0 $15,995
Cathy Mc Clelland (Chair) $0 $0 $0
Kathleen H Wendler (Director) $0 $0 $0
Gail Perry Mason (Director) $0 $0 $0
Ronald C Frederick (Director) $0 $0 $0
Diana Stewart (Director) $0 $0 $0
Dolores A Sturtivant (Director) $0 $0 $0
Steve Mondozzi (Chief Financial Officer) $0 $0 $82,000

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,138,804
Expenses
$1,783,785
Net Income
-$644,981
Net Assets
$6,842,439
Notable Sources of Revenue Percent of Total Revenue
Contributions $610,000
53.6%
Program Services $516,686
45.4%
Investment Income $12,118
1.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $210,716
11.8%
Professional Fundraising Fees $0
Other Salaries and Wages $413,232
23.2%
Assets/Debt
Total Assets $16,645,115
Total Liabilities $9,802,676
Net Assets $6,842,439

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,656,022
Expenses
$1,889,369
Net Income
-$233,347
Net Assets
$7,485,999
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,350,000
81.5%
Program Services $329,146
19.9%
Investment Income $21,441
1.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $3,137
0.2%
Net Inventory Sales $0
Other Revenue -$47,702
Notable Expenses Percent of Total Expenses
Executive Compensation $220,515
11.7%
Professional Fundraising Fees $0
Other Salaries and Wages $382,854
20.3%
Assets/Debt
Total Assets $15,820,069
Total Liabilities $8,334,070
Net Assets $7,485,999

Document Links

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2003

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2002

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2001

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
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