Detroit Regional Lgbt Chamber Fund Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
Providing education to LGBTQ business and allies in the grater Detroit, Michigan region.
- Income
- $204,044
- Spending
- $182,573
- Spent on programs
- 75%
- Reserves
- 6.9 months of spending
- Largest source of income
- donations and private grants, 100%
- Employees
- 0
- Highest pay
- $51,229, president and executive director
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Strong: 93 out of 100. Higher than 81% of charities in its peer group (community improvement, under $250k).
Reserves
28 of 35Spendable reserves would cover 6.9 months of spending.
Debt
20 of 20It owes 0% of what it owns.
Living within its means
15 of 15Income exceeded spending by 11% of income.
Income trend
15 of 15Income rose 231% on the year before.
Spending floor
15 of 1575% of spending went to programs and raising each dollar of donations cost 8 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 86 out of 100. Higher than 77% of charities in its peer group (community improvement, under $250k).
Independent board
25 of 2511 of 11 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (2)
- $91,120 spent. Queer Equity Impact Program: A 12-week business accelerator for LGBTQ business owners that will cover the most impactful aspects of business from Ideation to capital ready. In-person classes are every other week. Free for businesses to participate. Leaders in the field teach each class. Grant award opportunity at completion. $10,000 Pitch competition qualifying upon completion. Completed the fourth cohorts. We host 2 cohorts a year. Fall & Spring Business Summits COLOURS Spring LGBT Business Summit focuses on business landscape and contracting opportunities. It covers scaling businesses, benefits of LGBTQ Business Certification, and includes matchmakers and sessions. This all-day event features 100 professionals and business owners, 4-5 workshops, and multiple networking opportunities with corporate partners and leaders.While the Fall Summit highlights efforts in corporate and government landscapes. It previews upcoming initiatives and workforce adaptations. The event offers best practices, suggestions, and technical assistance for small businesses, including legal, HR, and marketing advice.
- $45,469 spent. COLOURS Pride Awards Gala: Our biggest event, this gala raises grant funds for new and growing LGBTQ-owned businesses and provides training and resources for youth in Metro Detroit. Focusing on intersectionality, we invest in businesses at pivotal growth moments. We aim to increase capital, capacity, customers, and certified LGBTQ businesses, while supporting future LGBTQ entrepreneurs, leaders and allies. The evening features five awards and highlights businesses and leaders. During the Gala, we host a pitch competition for one lucky business who will walk away with $10,000 for their business.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since August 2016.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.