2024-05-15T14:09:59-05:00 2023-06-30 382029668 GJC CPA'S & ADVISORS 1001 WOODWARD AVENUE SUITE 850 DETROIT MI 482261904 990 2022-07-01 382192028 DETROIT ECONOMIC GROWTH CORPORATION DETR 3139632940 500 GRISWOLD 2200 DETROIT MI 482263480 KEVIN JOHNSON PRESIDENT AND C.E.O. 3139632940 2024-05-15 1 KEVIN JOHNSON 999009999 1 MICHAEL R NICHOLAS P00966144 3139652655 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KEVIN JOHNSON 500 GRISWOLD 2200 DETROIT MI 482263480 9492028 0 X WWW.DEGC.ORG X 1978 MI PROMOTE ECONOMIC GROWTH IN THE CITY OF DETROIT 33 32 75 0 0 0 1693730 365000 8658139 8935095 68905 191933 0 0 10420774 9492028 0 0 0 0 7271420 7564207 0 0 0 1547731 1976442 8819151 9540649 1601623 -48621 7209211 8488722 177786 1505918 7031425 6982804 PROMOTION OF ACTIVITIES TO SPUR ECONOMIC GROWTH AND REVITALIZATION IN THE CITY OF DETROIT 0 0 7949091 8935095 PROMOTION OF ACTIVITIES TO SPUR ECONOMIC GROWTH AND REVITALIZATION IN THE CITY OF DETROIT 7949091 0 1 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 18 0 1 75 1 0 0 0 0 0 0 0 0 X 33 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 MI X GLEN W LONG JR 3139632940 500 GRISWOLD SUITE 2200 DETROIT MI 482263480 KEVIN JOHNSON PRESIDENT AND C.E.O. 50.00 1.00 X X 322375 0 55408 CONRAD L MALLETT JR CHAIR 1.00 1.00 X X 0 0 0 MARVIN BEATTY VICE-CHAIR 1.00 1.00 X X 0 0 0 JOHN BLANCHARD VICE-CHAIR 1.00 1.00 X X 0 0 0 ANDRA RUSH VICE-CHAIR 1.00 1.00 X X 0 0 0 MICHAEL TYSON TREASURER 1.00 1.00 X X 0 0 0 JACCI WOODS SECRETARY 1.00 1.00 X X 0 0 0 MIKYIA AARON DIRECTOR 1.00 1.00 X 0 0 0 APRIL ANDERSON DIRECTOR 1.00 1.00 X 0 0 0 HASSAN BEYDOUN DIRECTOR 1.00 1.00 X 0 0 0 DAVID BLASKIEWICZ DIRECTOR 1.00 X 0 0 0 KOFI BONNER DIRECTOR 1.00 1.00 X 0 0 0 EVA GARZA DEWAELSCHE DIRECTOR 1.00 1.00 X 0 0 0 MIKE DUGGAN DIRECTOR 1.00 1.00 X 0 0 0 MOHAMAD HAMMOUD DIRECTOR 1.00 1.00 X 0 0 0 KENNETH L HARRIS DIRECTOR 1.00 1.00 X 0 0 0 DIMITRIUS HUTCHERSON DIRECTOR 1.00 1.00 X 0 0 0 GEORGE W JACKSON JR DIRECTOR 1.00 1.00 X 0 0 0 MARSHAL S KLEVEN DIRECTOR 1.00 1.00 X 0 0 0 ERIC LARSON DIRECTOR 1.00 1.00 X 0 0 0 MIKE MCLAUCHLAN DIRECTOR 1.00 1.00 X 0 0 0 DAVID E MEADOR DIRECTOR 1.00 1.00 X 0 0 0 DARRELL MIDDLETON DIRECTOR 1.00 1.00 X 0 0 0 ADELAIDE PASCARIS DIRECTOR 1.00 1.00 X 0 0 0 CYNTHIA PASKY DIRECTOR 1.00 1.00 X 0 0 0 MARY SHEFFIELD DIRECTOR 1.00 1.00 X 0 0 0 NED STAEBLER DIRECTOR 1.00 1.00 X 0 0 0 RONALD STALLWORTH DIRECTOR 1.00 1.00 X 0 0 0 TONY STOVALL DIRECTOR 1.00 1.00 X 0 0 0 TERENCE A THOMAS SR DIRECTOR 1.00 1.00 X 0 0 0 TONY TOMCZAK DIRECTOR 1.00 1.00 X 0 0 0 GARY TORGOW DIRECTOR 1.00 1.00 X 0 0 0 JAMES VELLA DIRECTOR 1.00 1.00 X 0 0 0 GLEN W LONG JR EXEC. V-P OF ADMIN. AND C.F.O. 50.00 7.00 X 245394 0 53521 KENYETTA HAIRSTON-BRIDGES EXEC. V-P, ECON. DEV. AND INV. SERV. 50.00 X 216628 0 46906 AMANDA HANLIN CHIEF OF STAFF 50.00 X 143234 0 37334 REBECCA NAVIN GENERAL COUNSEL 50.00 X 205115 0 46511 KELLY SHOVAN CONTROLLER 50.00 X 119265 0 34881 MALINDA JENSEN V-P, GOVERNMENTAL AFFAIRS 50.00 X 120396 0 20717 MARK DENSON SR. DIR., STRATEGY AND OPERATIONS 40.00 X 118432 0 32490 DAVID HOWELL SR. DIR., REAL ESTATE 40.00 X 117953 0 26856 1608792 0 354624 17 0 1 0 EDC CHARTER COUNTY OF WAYNE 500 GRISWOLD DETROIT MI 482263480 LEASE AND UTILITIES 483714 1 365000 365000 CONTRACT INCOME 900099 8717455 8717455 INTEREST ON LOANS 900099 114096 114096 SERVICE FEES 900099 103544 103544 8935095 191933 191933 9492028 8935095 0 191933 1513229 1240394 272835 4358854 3596932 761922 445196 364927 80269 839620 688236 151384 407308 333871 73437 28378 25669 2709 168262 152202 16060 192315 157738 34577 120300 98845 21455 510201 419200 91001 1922 1575 347 110681 90726 19955 69340 56838 12502 112469 92411 20058 BAD DEBT EXPENSE 477734 477734 EQUIPMENT RENTAL 106889 87790 19099 MEMBERSHIPS 45585 37389 8196 SPECIAL PROJECTS 28047 22990 5057 4319 3624 695 9540649 7949091 1591558 0 85843 79870 4019730 3496692 774297 513651 2029818 2741827 180733 204067 860847 781731 118790 79116 0 1373499 7209211 8488722 177786 79104 0 1426814 177786 1505918 X 2978917 3010136 4052508 3972668 7031425 6982804 7209211 8488722 -48621 0 X 0 1 X 1 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 305682 304498 1184 462241 387408 74833 92924 89825 3099 79116 RIGHT-OF-USE ASSETS UNDER OPERATING LEASES 1373499 1373499 OPERATING LEASE LIABILITIES 1426814 1426814 X 9492028 0 9492028 0 9492028 9540649 0 9540649 0 9540649 PART X, LINE 2: THE DEGC'S [ORGANIZATION'S] MANAGEMENT IS NOT AWARE OF ANY UNCERTAIN TAX POSITIONS OR UNRECOGNIZED TAX BENEFITS AS OF JUNE 30, 2023 OR 2022. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 KEVIN JOHNSON PRESIDENT AND C.E.O. 310882 0 0 0 11493 0 30809 0 24599 0 377783 0 0 0 GLEN W LONG JR EXEC. V-P OF ADMIN. AND C.F.O. 234830 0 10000 0 564 0 29278 0 24243 0 298915 0 0 0 KENYETTA HAIRSTON-BRIDGES EXEC. V-P, ECON. DEV. AND INV. SERV. 201171 0 15000 0 457 0 24555 0 22351 0 263534 0 0 0 REBECCA NAVIN GENERAL COUNSEL 189836 0 15000 0 279 0 23038 0 23473 0 251626 0 0 0 AMANDA HANLIN CHIEF OF STAFF 128072 0 15000 0 162 0 13693 0 23641 0 180568 0 0 0 KELLY SHOVAN CONTROLLER 114179 0 5000 0 86 0 13693 0 21188 0 154146 0 0 0 MARK DENSON SR. DIR., STRATEGY AND OPERATIONS 115538 0 2500 0 394 0 8477 0 24013 0 150922 0 0 0 PART I, LINE 1A THE ORGANIZATION PROVIDED AN AUTOMOBILE ALLOWANCE OF $1,000 PER MONTH AND PAID FOR A DETROIT GOLF CLUB MEMBERSHIP FOR THE PRESIDENT/CHIEF EXECUTIVE OFFICER. FORM 990, PART VI, SECTION B, LINE 11B AN INDEPENDENT C.P.A. FIRM PREPARES FORM 990, WHICH IS THEN REVIEWED SEPARATELY BY THE ORGANIZATION'S CONTROLLER AND CHIEF FINANCIAL OFFICER. THE CHIEF FINANCIAL OFFICER WALKS THROUGH FORM 990 WITH THE ORGANIZATION'S CHAIR, VICE-CHAIR, AND PRESIDENT/CHIEF EXECUTIVE OFFICER BEFORE THE RETURN IS SIGNED AND FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL REMINDERS OF THE CONFLICT OF INTEREST POLICY ARE DISTRIBUTED TO THE ORGANIZATION'S STAFF, ALONG WITH THE THREAT OF TERMINATION FOR VIOLATIONS OF SUCH POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION COMMITTEE BENCHMARKED SALARIES AND BENEFITS FOR SIMILAR CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER POSITIONS. THE PRESIDENT/CHIEF EXECUTIVE OFFICER HAS THE POWER TO SET COMPENSATION LEVELS FOR ALL OTHER EMPLOYEES. HE DOES SO BASED UPON A REVIEW OF SIMILAR ENTITIES AND BENCHMARKING STUDIES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. DETROIT ECONOMIC GROWTH ASSOCIATION 500 GRISWOLD SUITE 2200 DETROIT MI 482263480 382433720 ECONOMIC DEVELOPMENT MI 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 0 DETROIT ECONOMIC GROWTH ASSOCIATION L 324573 FAIR VALUE DETROIT ECONOMIC GROWTH ASSOCIATION Q 927651 FAIR VALUE