St Mary Development Corporation
- Assets
- $31.0m
- Revenue
- $6.8m
- Investments
- $3.1m
- Employees
- 24
- Location
- Dayton, OH
- Founding
- 01/1997
- Data as of
- 12/2021
- EIN
- 31-1275208
Organization Overview
St Mary Development Corporation is located in Dayton, OH. The organization was established in 1997. 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 12/2021, St Mary Development Corporation employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Mary 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 12/2021, St Mary Development Corporation generated $6.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $4.4m during the year ending 12/2021. While expenses have increased by 6.9% per year over the past 7 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
CREATE LASTING, AFFORDABLE HOUSING SOLUTIONS IN SOUTHWEST OHIO AND VARIOUS STATES THROUGH REAL ESTATE DEVELOPMENT AND MANAGEMENT, RESIDENT SERVICES AND FUNDRAISING, AND COMMUNITY DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENT SERVICES/FUNDRAISING - TO PROVIDE SERVICES TO AGING RESIDENTS TO ALLOW THEM TO MAINTAIN LIVING IN THEIR HOMES LONGER.
SENIOR HOUSING - ASSIST AND PROVIDE OVERSIGHT FOR OWNED AFFORDABLE PROJECTS.
REAL ESTATE/COMMUNITY DEVELOPMENT - GENERAL SUPPORT FOR NEIGHBORHOOD PROGRAMS TO IMPROVE ECONOMIC, HOUSING AND EDUCATIONAL CONDITIONS OF THE COMMUNITY IN VARIOUS MARKETS OUTLINED IN OUR ARTICLES OF INCORPORATION.
VARIOUS ADDITIONAL PROGRAMS AIMED AT REVITILIZATION AND ECONOMIC DEVELOPMENT OF TARGET NEIGHBORHOODS IN THE DAYTON COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Bete President/treasurer | Officer | 40 | $155,195 |
Wesley Young Vice President/secretary | Officer | 40 | $138,270 |
Barbara Prosser Chief Financial Officer | Officer | 40 | $120,523 |
Shelly Cagle Board Of Directors | Trustee | 0 | $0 |
Vanessa Ward Board Of Directors | Trustee | 0 | $0 |
Larry Williams Board Of Directors | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,019,012 |
| All other contributions, gifts, grants, and similar amounts not included above | $665,820 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,684,832 |
| Total Program Service Revenue | $4,706,678 |
| Investment income | $394,497 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$4,663 |
| Net Gain/Loss on Asset Sales | $64,415 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,845,759 |
| 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. | $489,778 |
| Compensation of current officers, directors, key employees. | $134,915 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $641,039 |
| Pension plan accruals and contributions | $41,394 |
| Other employee benefits | $177,222 |
| Payroll taxes | $101,861 |
| Fees for services: Management | $148,282 |
| Fees for services: Legal | $47,284 |
| Fees for services: Accounting | $97,297 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,754 |
| Advertising and promotion | $3,811 |
| Office expenses | $126,944 |
| Information technology | $88,806 |
| Royalties | $0 |
| Occupancy | $182,754 |
| Travel | $12,727 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $157 |
| Interest | $252,889 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $242,552 |
| Insurance | $114,774 |
| All other expenses | $60,196 |
| Total functional expenses | $4,434,188 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $395,139 |
| Savings and temporary cash investments | $2,501,093 |
| Pledges and grants receivable | $2,500 |
| Accounts receivable, net | $5,383,593 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,710,807 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $143,779 |
| Net Land, buildings, and equipment | $3,932,532 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,055,519 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,857,975 |
| Total assets | $30,982,937 |
| Accounts payable and accrued expenses | $1,087,692 |
| 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 | $10,378,777 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,559,958 |
| Total liabilities | $15,026,427 |
| Net assets without donor restrictions | $15,833,796 |
| Net assets with donor restrictions | $122,714 |
| 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 | $30,982,937 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that St Mary Development Corporation has recieved totaling $285,862.
| Awarding Organization | Amount |
|---|---|
Ohio Capital Impact Corporation Columbus, OH PURPOSE: SPONSORSHIP | $150,788 |
Kettering Family Foundation Dayton, OH PURPOSE: SPECIAL PROGRAM/PROJECT | $100,000 |
Louise Kramer Foundation Dayton, OH PURPOSE: SOCIAL PROGRAMS | $30,000 |
Related Affordable Foundation Inc New York, NY PURPOSE: THE BUSINESS OF AGING GOLD LEVEL | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $74 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shared Support South Inc Warrington, PA | $9,549,705 | $20,704,692 |
Viecare Butler Llc Cranberry Township, PA | $15,820,808 | $20,591,438 |
Valley View Haven Inc Belleville, PA | $35,512,325 | $21,268,828 |
Cinnaire Corporation Cinnaire Lansing, MI | $74,619,323 | $21,850,720 |
Pathways To Housing Pa Philadelphia, PA | $7,362,789 | $17,371,070 |
Bethany Housing Ministries Inc Muskegon, MI | $4,087,536 | $16,635,219 |
Habitat For Humanity International Inc Cincinnati, OH | $19,861,311 | $21,403,808 |
Buckeye Community Hope Foundation Columbus, OH | $50,429,521 | $11,276,532 |
Caracole Inc Cincinnati, OH | $7,131,053 | $11,567,326 |
Taylor Community Development Corp Taylor, MI | $29,334,174 | $14,242,807 |
Community Action Agency Of Delaware County Inc Boothwyn, PA | $15,976,339 | $8,682,122 |
Habitat For Humanity International Inc Indianapolis, IN | $27,221,776 | $14,208,425 |