2025-11-07T10:45:09-06:00 2024-12-31 331498605 PLANTE & MORAN PLLC 10 S RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2024-01-01 271927369 INVEST DETROIT FOUNDATION INVE 3132596368 600 RENAISSANCE CENTER 1710 DETROIT MI 48243 DAVID BLASZKIEWICZ PRESIDENT/CEO 3132596368 2025-11-06 1 1 ALYSSA M KENT P01701477 3122071040 2025-11-06 2024 2025-03-06 01:10:19Z INVEST DETROIT DAVID BLASZKIEWICZ 600 RENAISSANCE CENTER 1710 DETROIT MI 48243 32419547 0 X INVESTDETROIT.COM X 2010 MI THE IDF LOAN PROGRAMS PROVIDE FUNDING, GENERALLY IN THE FORM OF LOANS, TO QUALIFIED APPLICANTS TO ENCOURAGE REVITALIZATION AND DEVELOPMENT. IN CONCERT WITH OPERATING THE LOAN PROGRAMS, IDF ALSO CONDUCTS PROGRAMMATIC ACTIVITIES THAT INCLUDE PLANNING, SPEARHEADING AND DEVELOPING STRATEGIES FOR URBAN REVITALIZATION. 15 15 58 16 0 0 22447544 23956993 5632947 6447619 1484354 2014935 0 0 29564845 32419547 1470595 766460 0 0 7752413 8673931 0 0 0 5068067 12725113 14291075 22165504 15273770 10254043 186536906 208587430 50171519 64115511 136365387 144471919 X IDF PROMOTES A HIGHER QUALITY OF LIFE FOR DISTRESSED COMMUNITIES, PRIMARILY IN THE CITY OF DETROIT THROUGH ATTRACTING NEW INDUSTRY, ENCOURAGING THE DEVELOPMENT OF BUSINESS, HOUSING, TRANSPORTATION AND OTHER COMMUNITY RESOURCES. IDF PROVIDES LOANS AND FINANCIAL ASSISTANCE TO PROMOTE COMMUNITY DEVELOPMENT AND COMBAT COMMUNITY DETERIORATION AND ECONOMIC BLIGHT. 0 0 13648808 603254 5901162 SUPPORTING DETROIT ECONOMIC DEVELOPMENT THROUGH REAL ESTATE AND SMALL BUSINESS SUPPORT. 1442610 0 407231 SUPPORTING HIGH TECH AND ENTREPRENEUR ACTIVITY. 2117778 163206 139226 SUPPORTING INCLUSIVE NEIGHBORHOOD REVITALIZATION THROUGH STRATEGIC INTERVENTIONS. 17209196 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 93 0 1 58 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 1 1 MI X JAMIE GEARY 3132596368 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 MATTHEW P CULLEN CHAIRMAN 1.00 0.00 X X 0 0 0 RODERICK D GILLUM VICE CHAIRMAN 1.00 0.00 X X 0 0 0 JOANN CHAVEZ DIRECTOR 1.00 0.00 X 0 0 0 ANTOINE M GARIBALDI PHD DIRECTOR 1.00 0.00 X 0 0 0 WENDY LEWIS JACKSON DIRECTOR 1.00 0.00 X 0 0 0 DONALD KUNZ CORPORATE DEPARTMENT CHAIR 1.00 0.00 X 0 0 0 CHARLES G MCCLURE DIRECTOR 1.00 0.00 X 0 0 0 DAN NISSENBAUM DIRECTOR 1.00 0.00 X 0 0 0 CHRIS RIZIK DIRECTOR 1.00 0.00 X 0 0 0 ALAN S SCHWARTZ DIRECTOR 1.00 0.00 X 0 0 0 LAURA TRUDEAU DIRECTOR 1.00 0.00 X 0 0 0 LARRY BRINKER JR DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL LAND DIRECTOR 1.00 0.00 X 0 0 0 BRENDA LAWRENCE DIRECTOR 1.00 0.00 X 0 0 0 PAUL MOZAK DIRECTOR 1.00 0.00 X 0 0 0 RICHARD A MANOOGIAN DIRECTOR - PART YEAR 1.00 0.00 X 0 0 0 DAVID BLASZKIEWICZ PRESIDENT & CEO 30.00 10.00 X 454305 0 121029 CARRIE LEWAND-MONROE CHIEF OPERATING OFFICER 30.00 10.00 X 265209 0 27102 AMBER GLADNEY ASSISTANT SECRETARY 40.00 0.00 X 156582 0 16772 PAUL TRULIK SECRETARY/TREASURER 1.00 0.00 X 0 0 0 PATRICIA GLAZA EXECUTIVE VICE PRESIDENT, VENTURE 40.00 0.00 X 261877 0 42266 KEONA COWAN CHIEF LENDING OFFICER 30.00 10.00 X 261710 0 43909 MARTIN DOBER SENIOR VICE PRESIDENT, VENTURE 40.00 0.00 X 214645 0 38399 DANIELLE GRACEFFA GENERAL COUNSEL 40.00 0.00 X 243153 0 36569 JAMIE GEARY CHIEF ACCOUNTING OFFICER 40.00 0.00 X 210416 0 26855 2067897 0 352901 38 0 1 0 OLIVER HATCHER CONSTRUCTION 27333 MEADOWBROOK RD STE 100 NOVI MI 48377 GENERAL CONTRACTOR 470194 LIFELINE GLOBAL CONSULTING 60 E MILWAUKEE STREET SUITE 6825 DETROIT MI 48202 CONSULTING SERVICES 318284 OFFICESCAPES OF DENVER LLC 2501 BLAKE STREET DENVER CO 80205 DESIGN SERVICES 317573 URGE IMPRINT LLC 19420 PARKSIDE DETROIT MI 48221 CONSULTING SERVICES 300000 DETROIT TECHNOLOGY SOLUTIONS INC 600 RENAISSANCE CENTER DETROIT MI 48243 CONSULTING SERVICES 287541 5 5657748 18299245 692513 23956993 LOAN INTEREST INCOME 900099 3186179 3186179 ADMINISTRATIVE FEES 900099 2667133 2667133 LOAN TRANSACTION FEES 900099 594307 594307 6447619 2014935 2014935 32419547 6447619 0 2014935 766460 766460 876096 525658 350438 7151091 4290655 2860436 110195 66117 44078 536549 321929 214620 274784 274784 80800 80800 1040163 809260 230903 137467 137467 208552 208552 106137 106137 67189 67189 948523 948523 174390 174390 79811 79811 LOAN & GRANT LOSS RESER 7794852 7794852 MCCF PROGRAM 644722 644722 NEI NETWORK DIRECTOR PR 637055 510352 126703 VENTURE PROGRAM 243839 243839 286829 286829 22165504 17209196 4956308 0 4268274 4939112 39329396 22531817 5938055 8203249 3344218 7727692 70267840 80888663 13826 45941 7797113 485016 257750 7312097 0 25462335 61566559 50377851 1550988 857397 0 241276 186536906 208587430 3059320 1688413 11123729 6115301 1545527 355635 34442943 51382475 0 4573687 50171519 64115511 X 103720239 105647428 32645148 38824491 136365387 144471919 186536906 208587430 X 10254043 -2035713 -111798 X 0 1 X 1 1 1 X 31235299 7870399 18975100 22447544 23794149 104322491 31235299 7870399 18975100 22447544 23794149 104322491 32199708 72122783 146212 189650 331206 1484354 2014935 4166357 108488848 27513711 0.66480 0.68790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 16625478 0 16625478 0 981274 0 245319 0 0 0 990325 621557 981274 2593156 3889734 247581 155389 245319 648289 972434 250000 250000 6267431 63451 6203980 750187 214523 535664 280163 30344 249819 249332 176698 72634 7312097 50377851 C 50377851 RIGHT OF USE LEASE LIABILITY 239662 RESERVE FOR OFF-BALANCE-SHEET CREDIT EXPOSURE 4334025 4573687 1 LIFE REMODELED 2470 COLLINGWOOD ST DETROIT MI 48206 275020487 501(C)(3) 178300 0 N/A N/A DEXTER FACADE PROGRAM (LIFE REMODELED) SPARK GRANT OSBORN NEIGHBORHOOD ALLIANCE 13560 E MCNICHOLS DETROIT MI 48205 814399151 501(C)(3) 91316 0 N/A N/A MAPLERIDGE DUPLEX (G7) REHAB PROJECT GRANT CITY OF DETROIT 2 WOODWARD AVE DETROIT MI 48226 386004606 GOVERNMENT 82050 0 N/A N/A DEXTER WAYFINDING GRANT EAST WARREN DEVELOPMENT CORP 4424 BISHOP ST DETROIT MI 48224 843003783 501(C)(3) 54329 0 N/A N/A E. WARREN FEST 2024 - COMMUNITY ENGAGEMENT GRANT DETROIT CDFI COALITION 7700 SECOND AVE SUITE 608 DETROIT MI 48202 850930285 501(C)(3) 50000 0 N/A N/A DETROIT CDFI COALITION GRANT, FROM INCOMING GRANTS 1/2 FROM KRESGE AND 1/2 FROM HW BETTER BLOCK FOUNDATION 1723 S EWING AVENUE DALLAS TX 75216 474885264 501(C)(3) 35700 0 N/A N/A G7 PAVILLION SPARK GRANT MICHIGAN CDFI COALITION 124 WEST ALLEGAN ST SUITE 1900 LANSING MI 48933 933840960 501(C)(3) 25000 0 N/A N/A PASSTHRU GRANT FROM THE KRESGE FOUNDATION FOR MI CDFI COALITION METRO SOLUTIONS INC 18000 WEST NINE MILE RD STE 360 SOUTHFIELD MI 48075 200156511 25000 0 N/A N/A GREATER DETROIT WINDSOR PROJECT PASSTHRU GRANT OF HUDSON WEBBER GOS EMPOWERMENT PLAN 7640 KERCHEVAL AVE DETROIT MI 48214 453265365 501(C)(3) 15840 0 N/A N/A SNF COMMUNITY ENGAGMENT - PLAN MURAL AND ACTIVITIES SADZA SPACE 2933 CANIFF UNIT 12184 DETROIT MI 48212 921660453 14960 0 N/A N/A SNF COMMUNITY ENGAGEMENT GRANT CLUTCH CONSULTING LLC 1497 WEST GRAND BLVD DETROIT MI 48208 862546360 12500 0 N/A N/A SNF COMMUNITY ENGAGEMENT GRANT ULTREIA LLC 2044 PETER RD ANN ARBOR MI 48103 990846972 11291 0 N/A N/A SNF COMMUNITY ENGAGEMENT GRANT BAOBAB FARE 846 BEACONSFIELD AVE APT 2 GROSSE POINTE PARK MI 48230 822655423 5968 0 N/A N/A SNF COMMUNITY ENGAGEMENT GRANT 7 6 PART I, LINE 2: GRANTS ARE DOCUMENTED BY SIGNED AGREEMENTS LIMITING THE USE OF FUNDS FOR THEIR INTENDED PURPOSE. GRANT RECIPIENTS HAVE EITHER DEMONSTRATED THE FUNDS HAVE ALREADY BEEN DEPLOYED AND THE GRANT IS A REIMBURSEMENT, OR ELSE THE USE OF FUNDS ARE MONITORED BY PROGRAM STAFF. X X 0 1 0 0 0 0 0 1 0 DAVID BLASZKIEWICZ PRESIDENT & CEO 404305 0 50000 0 0 0 90700 0 30329 0 575334 0 0 0 KEONA COWAN CHIEF LENDING OFFICER 237710 0 24000 0 0 0 16229 0 27680 0 305619 0 0 0 PATRICIA GLAZA EXECUTIVE VICE PRESIDENT, VENTURE 237877 0 24000 0 0 0 15658 0 26608 0 304143 0 0 0 CARRIE LEWAND-MONROE CHIEF OPERATING OFFICER 241209 0 24000 0 0 0 5340 0 21762 0 292311 0 0 0 DANIELLE GRACEFFA GENERAL COUNSEL 219153 0 24000 0 0 0 14644 0 21925 0 279722 0 0 0 MARTIN DOBER SENIOR VICE PRESIDENT, VENTURE 193645 0 21000 0 0 0 12066 0 26333 0 253044 0 0 0 JAMIE GEARY CHIEF ACCOUNTING OFFICER 185416 0 25000 0 0 0 9381 0 17474 0 237271 0 0 0 AMBER GLADNEY ASSISTANT SECRETARY 141582 0 15000 0 0 0 9278 0 7494 0 173354 0 0 0 PART I, LINE 4B ELIGIBLE EMPLOYEES PARTICIPATE IN A NONQUALIFIED DEFERRED COMPENSATION PLAN ORGANIZED UNDER CODE SECTION 457(F). THE PURPOSE OF THE PLAN IS TO PROVIDE A RETENTION INCENTIVE AND A VEHICLE BY WHICH TO SUPPLEMENT TAX DEFERRED RETIREMENT SAVINGS FOR THE PARTICIPANTS. ANY AMOUNT ULTIMATELY PAID UNDER THE PROGRAM TO THE EMPLOYEE IS REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B IN THE YEAR PAID. DAVID BLASZKIEWICZ PARTICPATES IN THE DEFERRED COMPENSATION PLAN, NO AMOUNTS WERE PAID OUT DURING 2024. PART I, LINE 7 INVEST DETROIT FOUNDATION HAS AN INCENTIVE PLAN BASED ON THE ORGANIZATIONS PERFORMANCE DURING THE YEAR AND THEN THE EMPLOYEES PERFORMANCE. IF THE ORGANIZATION HITS ITS BUDGET AND STRATEGIC PLAN METRICS THEN THE BOARD OF DIRECTORS APPROVES THE BONUS POOL. THE BOARD OF DIRECTORS HAS FINAL DISCRETION ON THE BONUS PAID TO THE CEO. THE CEO AND BOARD CHAIR REVIEW AND HAVE FINAL DISCRETION ON ALL OTHER EMPLOYEE BONUSES. X 2 692513 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE REVIEWED BY MANAGEMENT BEFORE FILING. THE BOARD IS PROVIDED A COPY OF THE 990 AFTER FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE BOARD IS ASKED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. ANY NOTED CONFLICTS ARE ADDRESSED AND APPROPRIATELY RESOLVED. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS AND APPROVES COMPENSATION FOR THE CEO USING MARKET DATA. THE CEO USES MARKET DATA TO DETERMINE COMPENSATION OF THE OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 INVEST DETROIT PUBLISHES AN ANNUAL REPORT ON ITS WEBSITE WHICH HAS FINANCIAL STATEMENT DATA. NO OTHER DOCUMENTS ARE MADE AVAILABLE. FORM 990, PART XI, LINE 9: ADJUSTMENT IN EQUITY INVESTMENTS -111,798. IDV L3C 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 274397735 LOAN FUND MI -288303 25593190 INVEST DETROIT FOUNDATION CHASE INVEST DETROIT FUND L3C 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 LOAN FUND MI 1585671 29794211 INVEST DETROIT FOUNDATION IDF REAL ESTATE HOLDING LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 REAL ESTATE DEVELOPMENT MI -2149965 1972586 INVEST DETROIT FOUNDATION RE MCNICHOLS LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 REAL ESTATE DEVELOPMENT MI 15083 913618 INVEST DETROIT FOUNDATION EBIARA DEVELOPER FUND I LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 LOAN FUND MI 307711 5746319 INVEST DETROIT FOUNDATION ID DEV CO LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 REAL ESTATE DEVELOPMENT MI 31719 1641719 INVEST DETROIT FOUNDATION INVEST DETROIT CDE 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 264008431 LOAN FUND MI 501(C)(4) DETROIT DEVELOPMENT VENTURES INC 1 KERCHEVAL ASSOCIATES LLC 117 GRISWOLD 1416 DETROIT MI 48226 811333962 REAL ESTATE DEVELOPMENT MI KERCHEVAL ASSOCIATES II LLC N/A 0 0 0.45000 KERCHEVAL ASSOCIATES II 117 GRISWOLD 1416 DETROIT MI 48226 REAL ESTATE DEVELOPMENT MI N/A -2181313 1601166 0 0 0.50000 COMMUNITY CAPITAL EQUITY LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 REAL ESTATE DEVELOPMENT MI N/A N/A -358043 1597481 0 0 0.33000 ID MDI LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 REAL ESTATE DEVELOPMENT MI N/A 0 0 INDUSTRY DETROIT QOZB LLC 3001 BRIGHTON BLVD DENVER CO 80216 REAL ESTATE DEVELOPMENT MI N/A 0 0 DETROIT INVESTMENT FUND LP 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 383242878 PRIVATE SECTOR FINANCING MI N/A 0 0 DETROIT INNOVATE FUND I LP 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 463596857 PRIVATE SECTOR FINANCING MI DETROIT INNOVATE GP LLC N/A -280819 4571351 0 0 0.70220 RENAISSANCE VENTURE CAPITAL FUND I LP 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 VENTURE CAPITAL MI N/A N/A -11237 280688 0 0 0.02000 DETROIT INNOVATE GP LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 465283552 HOLDING COMPANY (GENERAL PARTNER OF DILP) MI DETROIT DEVELOPMENT VENTURES INC N/A 0 0 DETROIT INNOVATION DISTRICT FUND LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 REAL ESTATE DEVELOPMENT MI N/A N/A 0 0 0.50000 DETROIT INVESTMENT FUND REAL ESTATE VENTURES LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 383563993 HOLDS REAL ESTATE EQUITY INVESTMENTS MI N/A N/A 0 0 ID CDE 13 LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 300812019 PROVIDE QLICI'S MI N/A 0 0 ID CDE 14 LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 611734444 PROVIDE QLICI'S MI N/A 0 0 ID CDE 15 LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 611734444 PROVIDE QLICI'S MI N/A 0 0 ID CDE 16 LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 611734444 PROVIDE QLICI'S MI N/A 0 0 ID CDE 17 LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 352498158 PROVIDE QLICI'S MI N/A 0 0 ID CDE 18 LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 371752852 PROVIDE QLICI'S MI N/A 0 0 IDV FUND IV LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 871813531 PRIVATE SECTOR FINANCING MI IDV L3C N/A -80297 4311568 0 0 0.66190 INDUSTRY DETROIT LEVERAGE LENDER 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 922608641 NMTC SPE MI N/A N/A 1578447 0 0 0.99000 ID CDE 19 LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 PROVIDE QLICI'S MI N/A 0 0 ID CDE 20 LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 PROVIDE QLICI'S MI N/A 0 0 ID CDE 21 LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 PROVIDE QLICI'S MI N/A 0 0 SELDEN LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 813142685 REAL ESTATE DEVELOPMENT MI INVEST DETROIT FOUNDATION N/A 17053 496881 0 1 0.50000 SELDEN II LLC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 834163648 REAL ESTATE DEVELOPMENT MI INVEST DETROIT FOUNDATION N/A 38991 155667 0 1 0.50000 DETROIT DEVELOPMENT VENTURES INC 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 383242875 HOLDING COMPANY (GENERAL PARTNER OF DIF) MI INVEST DETROIT FOUNDATION C -9676 359836 1.00000 1 ID AH I L3C 600 RENAISSANCE CENTER SUITE 1710 DETROIT MI 48243 842516194 LOAN FUND MI N/A C 9444 526099 1.00000 1 0 0 0 0 1 0 0 0 0 0 0 1 0 1 1 1 1 0 0 DETROIT INVESTMENT FUND Q 142955 INVOICED AMOUNT DETROIT INVESTMENT FUND L 1887737 MGMT FEE, 3% OF AVERAGE TOTAL ASS INVEST DETROIT CDE O 500000 BASED ON TIME SPENT - SALARIES INVEST DETROIT CDE N 250000 BASED ON TIME SPENT - ADMIN FEE DETROIT INVESTMENT FUND E 252000 PRINCIPAL AMOUNT DETROIT INNOVATION FUND I LP L 106804 MGMT FEE IDV FUND IV LP L 226743 MGMT FEE INDUSTRY DETROIT QOZB LLC Q 1100000 REIMB EXPENSES