Organizations Filed Purposes:
Shorebank Eneterprise, Detroit promotes the economic development of low- to moderate income residents in the city of Detroit. SED focuses on lending programs to provide financial assistance for minority small business owners, affordable housing developers and contractors, as well as job creation and retention for low- to moderate-income Detroit residents.
Shorebank 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.
The Organization's small business loan fund provides growth capital in the form of business loans to Detroit companies not able to obtain the necessary financing needed from traditional financing sources.Over the last few years, the target market has seen an influx of young, entrepreneurs moving into its neighborhoods bringing forth creative synergies and increased demand for housing and local businesses. Because the Fund stays aligned with local revitalization strategies, in 2014 it moved forward with providing start-up and neighborhood business financing in an effort to provide smaller companies the proper business technical assistance to get started and/or to scale their company for growth, with a continued goal of creating additional jobs for Detroit residents and more viable neighborhood communities. Over the years, the Fund provided over $42 million in financing to over 300 companies with businesses and projects in Detroit.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Ray Waters | President | 40 | $185,759 |
| John Schoeniger | Loan Fund Manager | 40 | $140,796 |
| Steve Mondozzi | Chief Financial Officer | 10 | $138,375 |
| Deborah Jones | Director | 40 | $107,576 |
| Elizabeth Freitas | Loan Portfolio Manager | 40 | $100,519 |
| Linda Smith | Director | 0.5 | $0 |
| Gail Perry-Mason | Director | 0.5 | $0 |
| Dolores A Sturtivant | Director | 0.5 | $0 |
| Diana Stewart | Director | 0.5 | $0 |
| Ronald C Frederick | Treasurer | 0.5 | $0 |
| Kathleen H Wendler | Chair | 0.5 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202001919349302000_public.xml