Overview
What is Four Directions Development Corpora?
Four Directions Development Corpora is a nonprofit organization situated in Orono, Maine. With a mission to enhance the social and economic well-being of the four Maine tribes – Maliseet, Micmac, Passamaquoddy, and Penobscot – they focus on education and investment in affordable housing, tribal business ventures, and entrepreneurship. Their residential lending program aims to improve the lives of borrowers by offering various mortgage and loan services, such as first mortgage loans, refinancing, and home equity loans. This multifaceted approach enables borrowers to feel secure with sound lending practices while contributing to the growth and prosperity of their local communities. The organization employs a team of 10 individuals devoted to this mission.
Official website here: www.fourdirectionsmaine.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Four Directions Development Corporation has achieved a remarkable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial health. With an impressive Accountability & Finance score of 96, the organization demonstrates effective management of resources and a commitment to transparency. The high percentage of independent board members (91%) further underscores its governance strength, ensuring that decisions are made objectively and in the best interest of the community it serves.
The nonprofit excels in its program expenses, with a program expense ratio of 75.34%, indicating that a significant portion of its funding directly supports its mission-driven programs. Additionally, it has received perfect scores on constituent feedback, collection, and usage, highlighting its dedication to listening to and incorporating the voices of those it serves. This strong community engagement is a key strength, allowing the organization to adapt and respond effectively to the needs of its constituents.
While the organization demonstrates strong equity strategies and practices, its equity data and policies received slightly lower scores, indicating potential areas for improvement. Overall, Four Directions Development Corporation stands out as a well-managed nonprofit with a clear focus on community impact and a strong foundation in governance.
This AI summary has been generated from information found on Charity Navigator.
Is Four Directions Development Corpora legitimate?
Four Directions Development Corpora is a legitimate nonprofit organization registered as a 501(c)(3) entity. Four Directions Development Corpora submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $128,072
Professional Fundraising Fees: $0
Other Salaries and Wages: $629,704
For more financial information, click here
Official website here: www.fourdirectionsmaine.org
What is the mission statement of Four Directions Development Corpora?
Four Directions Development Corpora's mission is centered around improving the social and economic conditions of the Maliseet, Micmac, Passamaquoddy, and Penobscot tribes. They achieve this goal through various means, including education, investment in affordable housing, and supporting tribal business ventures and entrepreneurs. This organization seeks to enhance the lives of its members by providing residential lending services, offering first mortgage loans, refinancing, home improvement financing, and consumer loans for emergency expenses or debt reduction, among other financial assistance options. By adhering to sound lending practices, the corporation aims to instill a sense of security in its borrowers, knowing that they are being supported in their homeownership and financial needs.
Official website here: www.fourdirectionsmaine.org
What is the revenue of Four Directions Development Corpora?
Four Directions Development Corpora's revenue in 2023 was $2,551,410.
Official website here: www.fourdirectionsmaine.org
Who are the executives of Four Directions Development Corpora and what are their salaries?
The average compensation at Four Directions Development Corpora during 2023 was $50,518. There are 15 employees and 12 volunteers at Four Directions Development Corpora.
Here are 13 key members and their salaries:
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- Compensation: $22,871
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- Other: $934
- Compensation: $84,837
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- Other: $23,286
Official website here: www.fourdirectionsmaine.org
Where can I find the form 990 for Four Directions Development Corpora?
Four Directions Development Corpora's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.fourdirectionsmaine.org
Learn more at the official website: www.fourdirectionsmaine.org
Mission Statement of Four Directions Development Corpora
Four Directions Development Corporation, a nonprofit organization, is committed to enhancing the social and economic conditions of its four tribal member communities in Maine, namely Maliseet, Micmac, Passamaquoddy, and Penobscot. This is achieved through a twofold approach: investment in affordable housing and backing tribal business ventures, as well as supporting local entrepreneurs. By providing educational opportunities and financial assistance, the corporation aims to empower its tribal members, thereby improving their overall quality of life.
The residential lending program of Four Directions Development Corporation is another significant initiative. This program seeks to improve the lives of its borrowers by offering various mortgage loans for homeownership, construction, refinancing, and purchase-plus improvements. It also provides financing for modular/mobile homes, home improvements, and home equity loans. Consumer loans are offered for emergency expenses or debt reduction. With sound lending practices, Four Directions Development Corporation ensures that its borrowers feel secure, knowing that the corporation is working diligently on their behalf.
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Impact
July, 2024
Four Directions Development Corporation's impact can be seen in the improvement of social and economic conditions for tribal members in the four Maine tribes. Through their focus on education and investment in affordable housing, tribal business ventures, and entrepreneurs, they are actively working towards uplifting the communities of Maliseet, Micmac, Passamaquoddy, and Penobscot tribes. Their residential lending program offers various financial solutions aimed at enhancing the quality of life for borrowers, enabling them to achieve homeownership, make home improvements, and address emergency expenses or debt. By implementing sound lending practices, Four Directions Development Corporation provides a sense of security to borrowers, demonstrating a commitment to supporting and empowering tribal members.
This information is meant to be a general summary of Four Directions Development Corpora. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $65,037
- Program Service Revenue: $475,433
- Gross Receipts: $2,566,410
Assets and Liabilities:
- Total Assets: $14,264,573
- Total Liabilities: $6,131,569
- Net Assets: $8,133,004
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$426,178
LOAN ORIGINATION INCOME
Revenue
$35,371
FEES FOR SERVICE
Revenue
$13,884
Organization Details
Founding Year
2001
Principal Officer
Charlene Virgilio
Website
www.fourdirectionsmaine.orgNTEE Category
Code: L20 - Housing
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