Comprehensive foundation profile based on the most recent IRS Form 990 filing
Flagstar Foundation Inc, based in Troy, Michigan, is a philanthropic organization associated with Flagstar Bank. The foundation has assets totaling over $21 million, with annual expenses of approximately $2.75 million and revenue of about $1.16 million. It supports a wide range of communities across numerous cities and states in the U.S., including major areas like New York, Chicago, and Miami. The foundation's leadership includes Sonia Plata as President, with a board of trustees and other key roles filled by individuals who volunteer their time without compensation. The foundation's activities are diverse, although specific subject areas of focus are not detailed in the available information.
Focus Areas
Geographic Focus
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Financials
+2.6% from previous year
103 grants awarded in 2024
Of total revenue spent on programs
Grants
| Purpose | Location | |||
|---|---|---|---|---|
| $700,000 | Strategic Alliance Community Development Corporation | See Attached General Explanation | Detroit, MI, US | 2022 |
| $500,000 | Invest Detroit | See Attached General Explanation | Detroit, MI, US | 2022 |
| $500,000 | Local Initiatives Support Corporation (LISC) Detroit Program | See Attached General Explanation | New york, NY, US | 2022 |
| $500,000 | Invest Detroit | See Attached General Explanation | Detroit, MI, US | 2023 |
| $500,000 | Local Initiatives Support Corporation (LISC) Detroit Program | See Attached General Explanation | New york, NY, US | 2023 |
| $500,000 | LOCAL INITIATIVES SUPPORT CORP (LISC) | SUPPORT AFFORDABLE HOUSING | New york, NY, US | 2024 |
| $500,000 | INVEST DETROIT | SUPPORT STRATEGTIC NEIGHBORHOOD | Detroit, MI, US | 2024 |
| $300,000 | Strategic Alliance Community Development Corporation | See Attached General Explanation | Detroit, MI, US | 2022 |
| $100,000 | Community Foundation for Southeast Michigan | See Attached General Explanation | Detroit, MI, US | 2022 |
| $100,000 | SME Education Foundation | See Attached General Explanation | Southfield, MI, US | 2022 |
People
Compensation data from most recent available 990 forms
| Title | |||
|---|---|---|---|
EC
ELIZABETH CORREA
| MANAGING DIRECTOR | $0 | 2024 |
LC
LAURA COLEMAN
| SECRETARY | $0 | 2024 |
LM
LAURIE MCPECK
| TREASURER | $0 | 2024 |
GW
GARY WOLF
| TRUSTEE | $0 | 2024 |
DK
DONNA KRALL
| TRUSTEE | $0 | 2024 |
ELIZABETH CORREA
MANAGING DIRECTOR
LAURA COLEMAN
SECRETARY
LAURIE MCPECK
TREASURER
GARY WOLF
TRUSTEE
DONNA KRALL
TRUSTEE
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Financial data sourced from IRS 990 forms via ProPublica Nonprofit Explorer
View on ProPublica Nonprofit ExplorerLast updated on August 25, 2025