Overview
What is Friends Development Company?
Friends Development Company was a nonprofit organization situated in Philadelphia, Pennsylvania. Its primary mission was to provide affordable housing solutions for individuals with low and moderate income levels. Until its building was sold in September 2020, the organization successfully fulfilled this purpose in Philadelphia. The organization's activities were dedicated to ensuring affordable housing for its community, contributing positively to the local housing market and supporting individuals in need. As of now, the organization is undergoing the process of dissolution.
Is Friends Development Company legitimate?
Friends Development Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Development Company 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Friends Development Company?
Prior to its dissolution, Friends Development Company's mission was centered around providing affordable housing for individuals with low and moderate income. The organization successfully fulfilled this mission in Philadelphia, Pennsylvania. However, in September 2020, the company sold the property it was utilizing for this purpose. Currently, the corporation is inactive as it is undergoing the process of dissolution.
Who is the CEO of Friends Development Company?
Andrew Anderson is the President/Secretary of Friends Development Company.
What is the revenue of Friends Development Company?
Friends Development Company's revenue in 2022 was $0.
Who are the executives of Friends Development Company and what are their salaries?
There 2 volunteers at Friends Development Company.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $178,000
- Other: $5,340
- Compensation: $0
- Related: $100,000
- Other: $5,000
- Compensation: $0
- Related: $65,000
- Other: $3,250
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Friends Development Company?
Friends Development Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Friends Development Company
Friends Development Company, previously, dedicated its mission to providing affordable housing options for individuals with low and moderate income levels. Before its dissolution, the organization successfully catered to this demographic in Philadelphia, Pennsylvania. However, in September 2020, the company sold its property and is currently undergoing the process of dissolution, rendering it an inactive corporation. Throughout its active period, Friends Development Company made significant strides in offering affordable housing solutions, serving as a crucial resource for those in need.
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Impact
October, 2024
Friends Development Company had a significant impact on the Philadelphia community by providing affordable housing for low and moderate-income individuals. This initiative addressed a critical need for safe and affordable living options, helping to stabilize families and improve their quality of life. Through its efforts, the organization contributed to the overall wellbeing of the community, fostering greater economic stability and social cohesion. However, after selling its building in September 2020, the organization has since become inactive and is in the process of dissolving. While its direct involvement in affordable housing has concluded, the legacy of its mission continues to highlight the importance of accessible housing solutions in urban areas.
This information is meant to be a general summary of Friends Development Company. 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 2022.
Assets and Liabilities:
- Total Assets: $8,544
- Total Liabilities: $0
- Net Assets: $8,544
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Organization Details
Founding Year
1998
Phone
(215) 825-8800Principal Officer
Andrew Anderson
Main Address
704-706 WEST GIRARD AVENUE, PHILADELPHIA, PA, 19123
NTEE Category
Code: L20 - Housing
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