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Employer Identification Number 38-3322605

Shorebank Enterprise Detroit is a USA domiciled entity or foreign entity operating in the USA. The EIN ihas been issued by the IRS

Company Name:Shorebank Enterprise Detroit
Employer identification number (EIN):38-3322605
EIN Issuing AuthorityCincinnati, OH
Federal tax statusExempt from federal income tax. Registered as a non-profit under 501(c)(3) Title 26 of the United States Code

Organization Overview

Mission StatementShorebank Enterprise, Detroit (SED) promotes the economic development of low-to moderate-income residents in the city of Detroit. SED focuses on lending programs as well as job creation and retention.
Number of Employees12
Number of Volunteers5
Year Formed1996

Organization Governance

Legal DomicileMI
Voting Members - Governing Body6
Voting Members - Independent5

Organization Financials

2024-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 903,944
Program Service Revenue from current yearUSD $ 1,048,518
Investment Income from prior yearUSD $ 39,796
Investment Income from current yearUSD $ 49,284
Other Revenue from prior yearUSD $ 2,561
Other Revenue from current yearUSD $ 2,690
Gross receipts from all sourcesUSD $ 4,914,508
Net assets / fund balances at end of fiscal yearUSD $ 10,643,536
Net assets / fund balances at beginning of fiscal yearUSD $ 9,729,340
Total liabilities at end of fiscal yearUSD $ 9,246,178
Total liabilities at beginning of fiscal yearUSD $ 10,555,855
Total assets at end of fiscal yearUSD $ 19,889,714
Total assets at beginning of fiscal yearUSD $ 20,285,195
Revenues less expenses for current yearUSD $ 2,040,643
Revenues less expenses for previous yearUSD $ 1,460,394
Total expenses for current yearUSD $ 2,873,865
Total expenses for previous yearUSD $ 2,690,924
Other expenses in current yearUSD $ 852,176
Other expenses in previous yearUSD $ 928,576
Total fundraising expenses in current yearUSD $ 121,864
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,715,889
Employee salary and benefits paid in previous yearUSD $ 1,374,755
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 305,800
Grants and similar amounts paid in previous yearUSD $ 387,593
Total revenue in current fiscal yearUSD $ 4,914,508
Total revenue in previous fiscal yearUSD $ 4,151,318
Contributions and grants from current yearUSD $ 3,814,016
Contributions and grants from previous yearUSD $ 3,205,017
Total of other revenueUSD $ 2,690
2023-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 738,240
Program Service Revenue from current yearUSD $ 903,944
Investment Income from prior yearUSD $ 13,214
Investment Income from current yearUSD $ 39,796
Other Revenue from prior yearUSD $ 25,000
Other Revenue from current yearUSD $ 2,561
Gross receipts from all sourcesUSD $ 4,151,318
Net assets / fund balances at end of fiscal yearUSD $ 9,729,340
Net assets / fund balances at beginning of fiscal yearUSD $ 9,001,653
Total liabilities at end of fiscal yearUSD $ 10,555,855
Total liabilities at beginning of fiscal yearUSD $ 9,149,730
Total assets at end of fiscal yearUSD $ 20,285,195
Total assets at beginning of fiscal yearUSD $ 18,151,383
Revenues less expenses for current yearUSD $ 1,460,394
Revenues less expenses for previous yearUSD $ 828,948
Total expenses for current yearUSD $ 2,690,924
Total expenses for previous yearUSD $ 2,405,692
Other expenses in current yearUSD $ 928,576
Other expenses in previous yearUSD $ 779,040
Total fundraising expenses in current yearUSD $ 90,655
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,374,755
Employee salary and benefits paid in previous yearUSD $ 1,386,624
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 387,593
Grants and similar amounts paid in previous yearUSD $ 240,028
Total revenue in current fiscal yearUSD $ 4,151,318
Total revenue in previous fiscal yearUSD $ 3,234,640
Contributions and grants from current yearUSD $ 3,205,017
Contributions and grants from previous yearUSD $ 2,458,186
Total of other revenueUSD $ 2,561
2022-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 584,323
Program Service Revenue from current yearUSD $ 738,240
Investment Income from prior yearUSD $ 2,682
Investment Income from current yearUSD $ 13,214
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 25,000
Gross receipts from all sourcesUSD $ 3,234,640
Net assets / fund balances at end of fiscal yearUSD $ 9,001,653
Net assets / fund balances at beginning of fiscal yearUSD $ 8,636,996
Total liabilities at end of fiscal yearUSD $ 9,149,730
Total liabilities at beginning of fiscal yearUSD $ 10,863,522
Total assets at end of fiscal yearUSD $ 18,151,383
Total assets at beginning of fiscal yearUSD $ 19,500,518
Revenues less expenses for current yearUSD $ 828,948
Revenues less expenses for previous yearUSD $ 738,584
Total expenses for current yearUSD $ 2,405,692
Total expenses for previous yearUSD $ 2,203,336
Other expenses in current yearUSD $ 779,040
Other expenses in previous yearUSD $ 677,983
Total fundraising expenses in current yearUSD $ 81,206
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,386,624
Employee salary and benefits paid in previous yearUSD $ 1,320,597
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 240,028
Grants and similar amounts paid in previous yearUSD $ 204,756
Total revenue in current fiscal yearUSD $ 3,234,640
Total revenue in previous fiscal yearUSD $ 2,941,920
Contributions and grants from current yearUSD $ 2,458,186
Contributions and grants from previous yearUSD $ 2,354,915
Total of other revenueUSD $ 25,000
2021-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 673,972
Program Service Revenue from current yearUSD $ 584,323
Investment Income from prior yearUSD $ 5,225
Investment Income from current yearUSD $ 2,682
Other Revenue from prior yearUSD $ 4,865
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 2,941,920
Net assets / fund balances at end of fiscal yearUSD $ 8,636,996
Net assets / fund balances at beginning of fiscal yearUSD $ 8,284,044
Total liabilities at end of fiscal yearUSD $ 10,863,522
Total liabilities at beginning of fiscal yearUSD $ 11,024,362
Total assets at end of fiscal yearUSD $ 19,500,518
Total assets at beginning of fiscal yearUSD $ 19,308,406
Revenues less expenses for current yearUSD $ 738,584
Revenues less expenses for previous yearUSD $ 203,556
Total expenses for current yearUSD $ 2,203,336
Total expenses for previous yearUSD $ 3,039,382
Other expenses in current yearUSD $ 677,983
Other expenses in previous yearUSD $ 1,242,284
Total fundraising expenses in current yearUSD $ 59,126
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,320,597
Employee salary and benefits paid in previous yearUSD $ 1,364,454
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 204,756
Grants and similar amounts paid in previous yearUSD $ 432,644
Total revenue in current fiscal yearUSD $ 2,941,920
Total revenue in previous fiscal yearUSD $ 3,242,938
Contributions and grants from current yearUSD $ 2,354,915
Contributions and grants from previous yearUSD $ 2,558,876
2020-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 653,116
Program Service Revenue from current yearUSD $ 673,972
Investment Income from prior yearUSD $ 14,872
Investment Income from current yearUSD $ 5,225
Other Revenue from prior yearUSD $ 19,300
Other Revenue from current yearUSD $ 4,865
Gross receipts from all sourcesUSD $ 3,242,938
Net assets / fund balances at end of fiscal yearUSD $ 8,284,044
Net assets / fund balances at beginning of fiscal yearUSD $ 8,182,737
Total liabilities at end of fiscal yearUSD $ 11,024,362
Total liabilities at beginning of fiscal yearUSD $ 10,528,026
Total assets at end of fiscal yearUSD $ 19,308,406
Total assets at beginning of fiscal yearUSD $ 18,710,763
Revenues less expenses for current yearUSD $ 203,556
Revenues less expenses for previous yearUSD $ -1,789,270
Total expenses for current yearUSD $ 3,039,382
Total expenses for previous yearUSD $ 3,301,507
Other expenses in current yearUSD $ 1,242,284
Other expenses in previous yearUSD $ 1,110,827
Total fundraising expenses in current yearUSD $ 107,654
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,364,454
Employee salary and benefits paid in previous yearUSD $ 1,640,030
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 432,644
Grants and similar amounts paid in previous yearUSD $ 550,650
Total revenue in current fiscal yearUSD $ 3,242,938
Total revenue in previous fiscal yearUSD $ 1,512,237
Contributions and grants from current yearUSD $ 2,558,876
Contributions and grants from previous yearUSD $ 824,949
Total of other revenueUSD $ 4,865
2019-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 750,727
Program Service Revenue from current yearUSD $ 653,116
Investment Income from prior yearUSD $ 18,639
Investment Income from current yearUSD $ 14,872
Other Revenue from prior yearUSD $ 26,777
Other Revenue from current yearUSD $ 19,300
Gross receipts from all sourcesUSD $ 1,512,237
Net assets / fund balances at end of fiscal yearUSD $ 8,182,737
Net assets / fund balances at beginning of fiscal yearUSD $ 10,657,032
Total liabilities at end of fiscal yearUSD $ 10,528,026
Total liabilities at beginning of fiscal yearUSD $ 11,438,678
Total assets at end of fiscal yearUSD $ 18,710,763
Total assets at beginning of fiscal yearUSD $ 22,095,710
Revenues less expenses for current yearUSD $ -1,789,270
Revenues less expenses for previous yearUSD $ -1,807,690
Total expenses for current yearUSD $ 3,301,507
Total expenses for previous yearUSD $ 3,588,923
Other expenses in current yearUSD $ 1,110,827
Other expenses in previous yearUSD $ 1,286,324
Total fundraising expenses in current yearUSD $ 132,111
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,640,030
Employee salary and benefits paid in previous yearUSD $ 1,526,930
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 550,650
Grants and similar amounts paid in previous yearUSD $ 775,669
Total revenue in current fiscal yearUSD $ 1,512,237
Total revenue in previous fiscal yearUSD $ 1,781,233
Contributions and grants from current yearUSD $ 824,949
Contributions and grants from previous yearUSD $ 985,090
Total of other revenueUSD $ 19,300
2018-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 9,123
Program Service Revenue from prior yearUSD $ 891,121
Program Service Revenue from current yearUSD $ 750,727
Investment Income from prior yearUSD $ 6,510
Investment Income from current yearUSD $ 18,639
Other Revenue from prior yearUSD $ 14,997
Other Revenue from current yearUSD $ 26,777
Gross receipts from all sourcesUSD $ 1,781,233
Net assets / fund balances at end of fiscal yearUSD $ 10,657,032
Net assets / fund balances at beginning of fiscal yearUSD $ 13,355,010
Total liabilities at end of fiscal yearUSD $ 11,438,678
Total liabilities at beginning of fiscal yearUSD $ 11,486,410
Total assets at end of fiscal yearUSD $ 22,095,710
Total assets at beginning of fiscal yearUSD $ 24,841,420
Revenues less expenses for current yearUSD $ -1,807,690
Revenues less expenses for previous yearUSD $ 3,275,261
Total expenses for current yearUSD $ 3,588,923
Total expenses for previous yearUSD $ 3,660,598
Other expenses in current yearUSD $ 1,286,324
Other expenses in previous yearUSD $ 1,253,335
Total fundraising expenses in current yearUSD $ 94,043
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,526,930
Employee salary and benefits paid in previous yearUSD $ 1,326,580
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 775,669
Grants and similar amounts paid in previous yearUSD $ 1,080,683
Total revenue in current fiscal yearUSD $ 1,781,233
Total revenue in previous fiscal yearUSD $ 6,935,859
Contributions and grants from current yearUSD $ 985,090
Contributions and grants from previous yearUSD $ 6,023,231
Total of other revenueUSD $ 26,777
2017-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 734,182
Program Service Revenue from current yearUSD $ 891,121
Investment Income from prior yearUSD $ 5,655
Investment Income from current yearUSD $ 6,510
Other Revenue from prior yearUSD $ 8,880
Other Revenue from current yearUSD $ 14,997
Gross receipts from all sourcesUSD $ 6,935,859
Net assets / fund balances at end of fiscal yearUSD $ 13,355,010
Net assets / fund balances at beginning of fiscal yearUSD $ 10,149,553
Total liabilities at end of fiscal yearUSD $ 11,486,410
Total liabilities at beginning of fiscal yearUSD $ 11,230,559
Total assets at end of fiscal yearUSD $ 24,841,420
Total assets at beginning of fiscal yearUSD $ 21,380,112
Revenues less expenses for current yearUSD $ 3,275,261
Revenues less expenses for previous yearUSD $ 2,165,591
Total expenses for current yearUSD $ 3,660,598
Total expenses for previous yearUSD $ 2,959,883
Other expenses in current yearUSD $ 1,253,335
Other expenses in previous yearUSD $ 842,179
Total fundraising expenses in current yearUSD $ 129,763
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,326,580
Employee salary and benefits paid in previous yearUSD $ 1,130,877
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 1,080,683
Grants and similar amounts paid in previous yearUSD $ 986,827
Total revenue in current fiscal yearUSD $ 6,935,859
Total revenue in previous fiscal yearUSD $ 5,125,474
Contributions and grants from current yearUSD $ 6,023,231
Contributions and grants from previous yearUSD $ 4,376,757
Total of other revenueUSD $ 14,997
2015-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 607,369
Program Service Revenue from current yearUSD $ 572,772
Investment Income from prior yearUSD $ 28,332
Investment Income from current yearUSD $ 10,663
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 6,350,689
Net assets / fund balances at end of fiscal yearUSD $ 8,518,333
Net assets / fund balances at beginning of fiscal yearUSD $ 5,001,047
Total liabilities at end of fiscal yearUSD $ 10,695,252
Total liabilities at beginning of fiscal yearUSD $ 11,036,256
Total assets at end of fiscal yearUSD $ 19,213,585
Total assets at beginning of fiscal yearUSD $ 16,037,303
Revenues less expenses for current yearUSD $ 3,847,465
Revenues less expenses for previous yearUSD $ 130,153
Total expenses for current yearUSD $ 2,503,224
Total expenses for previous yearUSD $ 2,192,548
Other expenses in current yearUSD $ 678,719
Other expenses in previous yearUSD $ 616,894
Total fundraising expenses in current yearUSD $ 93,721
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,045,870
Employee salary and benefits paid in previous yearUSD $ 895,247
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 778,635
Grants and similar amounts paid in previous yearUSD $ 680,407
Total revenue in current fiscal yearUSD $ 6,350,689
Total revenue in previous fiscal yearUSD $ 2,322,701
Contributions and grants from current yearUSD $ 5,767,254
Contributions and grants from previous yearUSD $ 1,687,000

Other Company Names associated with EIN

Detroit Development Fund

Organization Addresses

The following addresses have been detected as associated with Tax Indentification Number 383322605

USA Mailing Address
14533 Mack Avenue
Detroit
MI
48215
Date first seen: 2008-01-01
Date last seen: 2025-12-31
USA Mailing Address
277 Gratiot No 3rd Fl
Detroit
MI
48226
Date first seen: 2007-01-01
Date last seen: 2025-12-31
USA Mailing Address
3031 W Grant Blvd No 505
Detroit
MI
48202
Date first seen: 2007-01-01
Date last seen: 2025-12-31

Nearby companies/organizations

The following companies are located in the same ZIP code areas:

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