Southeast Michigan Opportunity Foundation 4
TO SUPPORT COMPLETION OF CONSTRUCTION OF PUBLIC SPACES ALONG DETROIT'S RIVERFRONT.
IRS Tax Year 2024
Period ending December 31, 2024
Total Revenue
$7.7M
Total Expenses
$142K
Net Assets
$7.6M
Employees
0
Volunteers
5
Program Expense Ratio
0.0%
This nonprofit profile presents IRS Form 990 tax filing data for Southeast Michigan Opportunity Foundation 4 (EIN: 82-3863542), based on the 2024 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, detailed executive pay breakdowns, top independent contractors, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
Southeast Michigan Opportunity Foundation 4 is a 501(c)(3) nonprofit headquartered in DETROIT, MI, founded in 2017. It is classified under NTEE code T30 (Public Foundations), within the Philanthropy, Voluntarism & Grantmaking category. The organization has held tax-exempt status since 2018. In its 2024 filing, the organization reported $7.7M in total revenue, and $142K in total expenses. The organization engaged 5 volunteers. RICHARD L DEVORE, TREAS. (START 9/24)/ PRESIDENT, is the highest-compensated individual at $719,647. 3 of 6 recommended governance policies are in place.
Southeast Michigan Opportunity Foundation 4 is classified under NTEE code T30 (Public Foundations), which falls within the Philanthropy, Voluntarism & Grantmaking category. Its foundation type is 21.
Programs(Tax Year 2024)
1 record
Southeast Michigan Opportunity Foundation 4 operates 1 program.
RENAMED IN 2024, THE SOUTHEAST MICHIGAN FOUNDATION FOR PUBLIC SPACES WILL SUPPORT COMPLETION OF CONSTRUCTION OF PUBLIC SPACES ALONG DETROIT'S RIVERFRONT, SPECIFICALLY TO SUPPORT THE ONGOING CONSTRUCTION OF THE RALPH C. WILSON JR. CENTENNIAL PARK. THE ORGANIZATION RECEIVED $7.7M IN GRANTS IN AUGUST 2024 IN SUPPORT OF THAT PURPOSE.
Financial Overview(Tax Years 2020–2024)
5 records
Over the past 5 years, Southeast Michigan Opportunity Foundation 4's revenue has remained stable from $0 to $7.7M. Program expenses represent 0% of total spending.
Southeast Michigan Opportunity Foundation 4 derives 100% from contributions and grants, with 0% from investment income.
Revenue is heavily concentrated: 100% comes from contributions and grants, indicating limited diversification.
Southeast Michigan Opportunity Foundation 4 holds $11.7M in total assets against $4.1M in liabilities (debt-to-asset ratio of 35%). The organization has 638.4 months of operating reserves. Cash and equivalents of $360 cover approximately 0.0 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2024 | $7.7M | $7.7M | $0 | $0 | $13K |
| 2023 | $0 | $0 | $0 | $0 | $0 |
| 2022 | $0 | $0 | $0 | $0 | $0 |
| 2021 | $0 | $0 | $0 | $0 | $0 |
| 2020 | $0 | $0 | $0 | $0 | $0 |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2024 | $142K | $0 | $142K | $0 | $0 |
| 2023 | $0 | $0 | $0 | $0 | $0 |
| 2022 | $0 | $0 | $0 | $0 | $0 |
| 2021 | $0 | $0 | $0 | $0 | $0 |
| 2020 | $0 | $0 | $0 | $0 | $0 |
Program Expense Ratio
0.0%
Admin Expense Ratio
100.0%
Fundraising Efficiency
—
Operating Reserve
638.4 mo
People & Compensation(Tax Year 2024)
9 records
Southeast Michigan Opportunity Foundation 4 reported compensation for 9 officers and key employees. Total officer compensation was $1.3M, representing 929.3% of total expenses. 1 individual received total compensation exceeding $500,000.
Southeast Michigan Opportunity Foundation 4's highest-compensated individual received $720K in total compensation. Total officer compensation of $1.3M represents 929.3% of total expenses. 1 individual received total compensation exceeding $500,000.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| RICHARD L DEVORE | TREAS. (START 9/24)/ PRESIDENT | OfficerDirector | 0.50 | $0 | $654,744 | $719,647 |
| NICOLE SHERARD-FREEMAN | DIRECTOR (START 7/24) | Director | 0.50 | $0 | $412,982 | $416,036 |
| MATTHEW J LEWIS | SECRETARY (START 9/24) | Officer | 0.50 | $0 | $153,690 | $186,884 |
| DAVID MASSARON | DIRECTOR (START 9/24) | Director | 0.50 | $0 | $0 | $0 |
| JAMES TIGHE | DIRECTOR (START 9/24) | Director | 0.50 | $0 | $0 | $0 |
| PHILLIP WM FISHER | DIRECTOR (START 11/24) | Director | 0.50 | $0 | $0 | $0 |
| MARY H WEISER | DIRECTOR | Director | 0.50 | $0 | $0 | $0 |
| DAVID T PROVOST | CHAIR (START 10/24) | OfficerDirector | 0.50 | $0 | $0 | $0 |
| DALE L WATCHOWSKI | DIRECTOR (START 7/24) | Director | 0.50 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
RICHARD L DEVORE
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
NICOLE SHERARD-FREEMAN
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
MATTHEW J LEWIS
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Top Contractors(Tax Year 2024)
1 record
Southeast Michigan Opportunity Foundation 4 reported 1 contractor receiving over $100,000, with total contractor payments of $106K.
| Name | Service | Compensation |
|---|---|---|
| PLANTE MORAN REALPOINT LLC | CONSULTING | $106,361 |
Governance & Compliance(Tax Year 2024)
Southeast Michigan Opportunity Foundation 4 has 3 of 6 recommended governance policies in place, including conflict of interest, document retention. Its board has 7 members, 5 of whom are independent.
Southeast Michigan Opportunity Foundation 4's financial statements are audited.
Southeast Michigan Opportunity Foundation 4 has family or business relationships among officers, directors, or key employees.
Policies & Oversight
Audit & Financial Oversight
Filing History(Tax Years 2018–2024)
5 records
Showing the 5 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2024 | 990 | 2024-01-01 – 2024-12-31 | $7.7M | $142K | $7.6M |
| 2023 | 990-EZ | 2023-01-01 – 2023-12-31 | $0 | $0 | $0 |
| 2022 | 990-EZ | 2022-01-01 – 2022-12-31 | $0 | $0 | $0 |
| 2021 | 990-EZ | 2021-01-01 – 2021-12-31 | $0 | $0 | $0 |
| 2020 | 990-EZ | 2020-01-01 – 2020-12-31 | $0 | $0 | $0 |
| 2018–2019 | No filings acquired yet | ||||
Frequently Asked Questions
What does Southeast Michigan Opportunity Foundation 4 do?
TO SUPPORT COMPLETION OF CONSTRUCTION OF PUBLIC SPACES ALONG DETROIT'S RIVERFRONT.
How much revenue does Southeast Michigan Opportunity Foundation 4 have?
Southeast Michigan Opportunity Foundation 4 reported $7,713,230 in total revenue for tax year 2024.
Who is the highest-paid executive at Southeast Michigan Opportunity Foundation 4?
RICHARD L DEVORE, TREAS. (START 9/24)/ PRESIDENT, received $719,647 in total compensation as of tax year 2024.
Is Southeast Michigan Opportunity Foundation 4 a 501(c)(3)?
Yes, Southeast Michigan Opportunity Foundation 4 is classified as a 501(c)(3) tax-exempt organization.
Where is Southeast Michigan Opportunity Foundation 4 located?
Southeast Michigan Opportunity Foundation 4 is headquartered in DETROIT, MI 48226.
What type of nonprofit is Southeast Michigan Opportunity Foundation 4?
Southeast Michigan Opportunity Foundation 4 is classified under NTEE code T30 (Public Foundations), within the Philanthropy, Voluntarism & Grantmaking category. It is a 501(c)(3) tax-exempt organization.
Is Southeast Michigan Opportunity Foundation 4 audited?
Yes, Southeast Michigan Opportunity Foundation 4's financial statements are audited.
Data Source
Prepared by: DELOITTE TAX LLP, INDIANAPOLIS, IN
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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