Four Directions Development Corporation
- Assets
- $13.0m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 7
- Location
- Orono, ME
- Founding
- 12/2002
- Data as of
- 09/2021
- EIN
- 01-0544468
Organization Overview
Four Directions Development Corporation is located in Orono, ME. The organization was established in 2002. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 09/2021, Four Directions Development Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Four Directions Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Four Directions Development Corporation generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $1.5m during the year ending 09/2021. While expenses have increased by 10.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE SOCIAL AND ECONOMIC CONDITIONS OF TRIBAL MEMBERS IN THE FOUR MAINE TRIBES (MALISEET, MICMAC, PASSAMAQUODDY AND PENOBSCOT) THROUGH EDUCATION AND INVESTMENT IN AFFORDABLE HOUSING, TRIBAL BUSINESS VENTURES, AND ENTREPRENEURS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL LENDING - FOUR DIRECTIONS DEVELOPMENT CORPORATIONS RESIDENTIAL LENDING PROGRAM SEEKS TO IMPROVE THE LIVES OF ITS BORROWERS BY PROVIDING FIRST MORTGAGE LOANS FOR HOMEOWNERSHIP/CONSTRUCTION, REFINANCING, PURCHASE-PLUS IMPROVEMENTS,FINANCING FOR MODULAR/MOBILE HOMES; HOME IMPROVEMENTS SUBORDINATE FINANCING FOR REPAIRS/IMPROVEMENTS; HOME EQUITY LOAN; CONSUMER LOANS FOR EMERGENCY EXPENSES OR PAY DOWN DEBT. SOUND LENDING PRACTICES ENABLE BORROWERS TO FEEL SECURE KNOWING FDDC IS WORKING FOR THEM.
COMMUNITY DEVELOPMENT - FOUR DIRECTIONS DEVELOPMENT CORPORATIONS COMMUNITY DEVELOPMENT PROGRAM PROVIDES CAPITAL AND DEVELOPMENT SERVICES TO TRIBES, TRIBAL DEPARTMENTS, AND NONPROFIT ORGANIZATIONS THAT ARE DEVELOPING HOUSING OR COMMUNITY FACILITIES PROJECTS THAT WILL ASSIST LOW INCOME INDIVIDUALS AND FAMILIES, ELDERS, YOUTH, AND OTHER UNDERSERVED COMMUNITIES. FDDC PROVIDES GAP FINANCING BETWEEN TRADITIONAL LENDERS AND CAPITAL REQUIRED; PARTICIPATION FOR HOUSING AND COMMUNITY DEVELOPMENT ACTIVITIES; LOANS FOR PREDEVELOPMENT, PROPERTY ACQUISITION, CONSTRUCTION, LEASEHOLD IMPROVEMENTS, REHABILITATION, OR AS WORKING CAPITAL; AND SECOND LIEN WITH PARTNERS. FDDC PROVIDES DEVELOPMENT SERVICES TO ASSIST WITH BUILDING ORGANIZATIONAL AND INDIVIDUAL CAPACITY IN AREAS SUCH AS STRATEGIC PLANNING, LEADERSHIP BUSINESS CAPABILITIES, DUE DILIGENCE, FEASIBILITY STUDIES AND BUSINESS DEVELOPMENT.
FINANCIAL CAPABILITIES - FOUR DIRECTIONS DEVELOPMENT CORPORATIONS FINANCIAL CAPABILITIES PROGRAM PROVIDES HOMEOWNERSHIP AND FINANCIAL EDUCATION TO EMPOWER TRIBAL MEMBERS TO REACH THEIR FINANCIAL GOALS. THE PROGRAM INCLUDES ONE-ON-ONE FINANCIAL COACHING AND HOMEOWNERSHIP COUNSELING, AS WELL AS LARGER GROUP EDUCATION WORKSHOPS AND EVENTS. THESE ACTIVITIES INCLUDE, PRE- AND POST-PURCHASE HOMEOWNERSHIP COUNSELING, RENTAL COUNSELING, DELINQUENCY AND PRE-FORECLOSURE COUNSELING, MONEY MANAGEMENT COACHING, CREDIT COACHING, AND HOMEBUYER EDUCATION CLASSES.
BUSINESS DEVELOPMENT - FDDC PROVIDES TECHNICAL ASSISTANCE (TA) AND FINANCING TO NEW AND EXISTING NATIVE-OWNED SMALL BUSINESSES. TA HELPS ENTREPRENEURS DEVELOP BUSINESS PLANS AND PREPARE FINANCIAL PROJECTIONS. SMALL BUSINESS LOANS UP TO 250,000 ARE OFFERED AT AFFORDABLE RATES WITH FLEXIBLE TERMS. THE BUSINESS MUST BE AT LEAST 51% NATIVE-OWNED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Hammond Former Exec | OfficerTrustee | 40 | $95,043 |
Catherine St John Secretary | OfficerTrustee | 0.5 | $0 |
Eric Nicolar Treasurer | OfficerTrustee | 0.5 | $0 |
Nichole Francis Vice Preside | OfficerTrustee | 0.5 | $0 |
Stan Meader President | OfficerTrustee | 0.5 | $0 |
Jeffrey Nathan Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,523,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $487,091 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,010,891 |
| Total Program Service Revenue | $434,265 |
| Investment income | $4,680 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,330 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,458,289 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $121,055 |
| Compensation of current officers, directors, key employees. | $60,528 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $338,738 |
| Pension plan accruals and contributions | $15,603 |
| Other employee benefits | $79,258 |
| Payroll taxes | $39,025 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $79,729 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,340 |
| Fees for services: Other | $91,993 |
| Advertising and promotion | $24,573 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $46,959 |
| Travel | $3,860 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,003 |
| Interest | $115,891 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,779 |
| Insurance | $21,859 |
| All other expenses | $70,977 |
| Total functional expenses | $1,452,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,030,073 |
| Savings and temporary cash investments | $5,073,656 |
| Pledges and grants receivable | $61,815 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,852 |
| Net Land, buildings, and equipment | $31,861 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,803,589 |
| Total assets | $13,017,846 |
| Accounts payable and accrued expenses | $178,905 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,309,880 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,488,785 |
| Net assets without donor restrictions | $6,299,911 |
| Net assets with donor restrictions | $1,229,150 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,017,846 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Four Directions Development Corporation has recieved totaling $419,625.
| Awarding Organization | Amount |
|---|---|
First Nations Oweesta Corporation Longmont, CO PURPOSE: GRANT | $204,009 |
Enterprise Community Partners Inc Columbia, MD PURPOSE: CAPACITY BUILDING | $65,000 |
Elmina B Sewall Foundation Freeport, ME PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
Rudolf Steiner Foundation Inc San Francisco, CA PURPOSE: FOR UNRESTRICTED SUPPORT, WHERE MOST NEEDED | $20,000 |
Maine Community Foundation Inc Ellsworth, ME PURPOSE: Housing Development, Construction & Management | $16,500 |
Palmer Walbridge Foundation Tr Pennington, NJ PURPOSE: GENERAL OPERATING | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Avesta Housing Management Corporation Portland, ME | $3,765,380 | $8,258,375 |
State Street Housing Preservation Corporation Portland, ME | $24,631,700 | $3,259,892 |
Monadnock Affordable Housing Corporation Keene, NH | $28,241,880 | $6,742,174 |
Affordable Housing Education And Development Inc Littleton, NH | $9,970,385 | $3,045,198 |
Bartlett Woods Inc Rockland, ME | $6,101,412 | $2,284,525 |
Housing Foundation Orono, ME | $3,133,048 | $2,829,758 |
Manchester Neighborhood Housing Services Inc Manchester, NH | $9,007,199 | $1,551,770 |
Laconia Area Community Land Trust Laconia, NH | $15,899,939 | $3,154,056 |
Bath Housing Development Corporation Bath, ME | $12,708,509 | $6,289,688 |
Housing Foundation Phase 1 & 2 Orono, ME | $5,226,993 | $1,967,341 |
Habitat For Humanity Of Greater Portland Inc Portland, ME | $4,759,457 | $2,582,640 |
Community Concepts Finance Corp Lewiston, ME | $13,201,299 | $1,637,763 |