Dallas Development Fund
- Assets
- $6.3m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 06/2014
- Data as of
- 09/2021
- EIN
- 26-4342371
Organization Overview
Dallas Development Fund is located in Dallas, TX. The organization was established in 2014. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dallas Development Fund 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, Dallas Development Fund generated $6.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 26.1% each year . All expenses for the organization totaled $6.4m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Dallas Development Fund has awarded 494 individual grants totaling $6,154,800. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AIDING, ASSISTING, & ACTING ON BEHALF OF THE CITY OF DALLAS, TEXAS IN THE PERFORMANCE OF ITS GOVERNMENTAL FUNCTIONS TO PROMOTE THE COMMON GOOD AND GENERAL WELFARE OF THE CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OTO ASSIST IN CARRYING OUT THE ECONOMIC DEVELOPMENT PROGRAM AND OBJECTIVES OF THE CITY OF DALLAS, TEXAS BY GENERATING PRIVATE INVESTMENT CAPITAL THROUGH THE NEW MARKETS TAX CREDIT PROGRAM TO BE MADE AVAILABLE FOR INVESTMENT IN LOW-INCOME COMMUNITIES. THE ORGANIZATION HAS RECEIVED $185 MILLION OF NEW MARKETS TAX CREDIT ALLOCATION TO DATE. THIS RESOURCE IS BEING USED TO PROVIDE CAPITAL TO JOB-GENERATING ECONOMIC DEVELOPMENT PROJECTS WITHIN THE ECONOMICALLY DISTRESSED AREAS OF DALLAS, PARTICULARLY IN SOUTHERN DALLAS. THESE STRATEGIES COMPLEMENT EXISTING CITY EFFORTS TO COMBAT UNEVEN DEVELOPMENT PATTERNS THAT HAVE HISTORICALLY CONCENTRATED NEW COMMERCIAL ACTIVITIY IN NORTH DALLAS, AND TO USE TRANSIT-ORIENTED DEVELOPMENT PRINCIPLES TO CREATE ACCESSIBLE URBAN VILLAGE CENTERS IN DISINVESTED NEIGHBORHOODS. DDF'S FINANCING PRODUCTS FEATURE SUCH ATTRIBUTES AS BELOW-MARKET INTEREST RATES, HIGHER THAN TYPICAL LOAN-TO-VALUE RATIOS, AND/OR PROVISION OF EQUITY. TO DATE, DDF HAS CLOSED $176.5 MILLION IN NMTC FINANCING AS OF 9/30/2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gilbert Gerst President And Director | OfficerTrustee | 1 | $0 |
Zenetta Drew Treasurer And Director | OfficerTrustee | 0.5 | $0 |
Brentt Shropshire Vice President And Directo | OfficerTrustee | 1 | $0 |
Heather Lepeska Secretary | Officer | 16 | $0 |
Dora Ramirez Director | Trustee | 0.5 | $0 |
Benjamin Salazar Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,952,351 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,952,351 |
| Total Program Service Revenue | $766,385 |
| Investment income | $5,000 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,735,720 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,479,700 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $48,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $259,002 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $25,095 |
| All other expenses | $0 |
| Total functional expenses | $6,397,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,031,237 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $531 |
| 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 | $20,739 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,240,753 |
| Total assets | $6,293,260 |
| Accounts payable and accrued expenses | $86,695 |
| Grants payable | $37,500 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,113,153 |
| Total liabilities | $1,237,348 |
| Net assets without donor restrictions | $5,055,912 |
| Net assets with donor restrictions | $0 |
| 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 | $6,293,260 |
Grants Awarded
Over the last fiscal year, Dallas Development Fund has awarded $5,256,500 in support to 401 organizations.
| Grant Recipient | Amount |
|---|---|
DATA AND PRODUCTS MANAGEMENT SERVICES INC PURPOSE: COVID-19 RELIEF | $15,000 |
SAI HOSPITALITY INC PURPOSE: COVID-19 RELIEF | $15,000 |
PACE AND ROSS LEARNING CENTER PURPOSE: COVID-19 RELIEF | $15,000 |
ELLIOTT TRAVEL & TOURS LLC PURPOSE: COVID-19 RELIEF | $15,000 |
ALLIANCE 915 LLC DBA COURT SUPPORT PURPOSE: COVID-19 RELIEF | $15,000 |
TINY INDUSTRIES LLC PURPOSE: COVID-19 RELIEF | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Dallas Development Fund has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Dallas Regional Chamber Dallas, TX PURPOSE: Match-Funding to an Awardee of our choosing | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Physician Associates Of Southwest Dallas Dallas, TX | $2,716,484 | $11,709,219 |
Methodist Patient Centered Aco Dallas, TX | $1,181,995 | $6,532,302 |
Cook Childrens Health Enterprises Fort Worth, TX | $6,566,964 | $6,620,654 |
Dallas Development Fund Dallas, TX | $6,293,260 | $6,735,720 |
St Lukes Sugar Land Properties Corporation Houston, TX | $99,661,908 | $127,637 |
Oneshare International Irving, TX | $7,405,964 | $7,020,317 |
Community Outreach And Patient Empowerment Inc Gallup, NM | $3,855,730 | $4,650,355 |
Crescentcare Holdings Inc New Orleans, LA | $17,127,658 | $277,342 |
Lafayette General Foundation Inc Lafayette, LA | $15,401,276 | $4,645,711 |
Foundation For Education & Research In Vision Inc Houston, TX | $10,023,691 | $1,315,802 |
Staurolite Resources Santa Fe, NM | $0 | $3,410,137 |
Nohc Inc New Orleans, LA | $4,353,405 | $535,211 |