Overview
What is Deland Development Corporation?
Deland Development Corporation is a nonprofit organization situated in Deland, Florida, specifically at 460 Laurel Ridge Way, Volusia County. Their primary mission revolves around creating, managing, and developing affordable housing units for the community of Volusia County. The organization is currently working on two projects: Laurel Villas, a mixed-income family housing community with 112 units, and Laurel Court, an elderly or disabled housing community with at least 96 units. In addition to providing housing, Deland Development Corporation aims to deliver community and social services to the residents of these affordable housing communities. By doing so, the organization is dedicated to improving the living conditions and well-being of the people in Volusia County, Florida.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. The rating reflects an average performance in accountability and finance, indicating that while the organization has some strengths, there are areas that could be improved. A score of 73 suggests that the Deland Development Corporation is meeting some, but not all, of the best practices in financial health and transparency.
One notable strength is the organization's governance, with 83% of its board members being independent, which enhances oversight and reduces potential conflicts of interest. Additionally, the organization has demonstrated strong fiscal responsibility with a program expense ratio of 100%, meaning all expenses go towards fulfilling its mission. The lack of any material diversion of assets further underscores its commitment to accountability.
However, the Two-Star rating indicates that there are concerns worth addressing. While the organization has a healthy liabilities to assets ratio of 44.29%, the overall financial health and transparency could be improved to enhance trust and confidence among potential donors and stakeholders. Users may want to consider these factors when evaluating their support for the Deland Development Corporation.
This AI summary has been generated from information found on Charity Navigator.
Is Deland Development Corporation legitimate?
Deland Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Deland Development Corporation 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 Deland Development Corporation?
Deland Development Corporation's mission is centered around creating, managing, and providing affordable housing for residents in Florida, specifically Volusia County. Their primary objective involves acquiring and redeveloping properties into affordable housing communities. In addition to housing, they also deliver community and social services to the residents of these communities. Currently, they are revitalizing a 25-acre area in Volusia County, transforming it into two affordable housing communities: Laurel Villas, a mixed-income family rental housing complex with 112 units, and Laurel Court, an elderly or disabled rental housing facility with at least 96 units. These housing complexes will serve households with income not exceeding 60% of the area median income.
Who is the CEO of Deland Development Corporation?
Millie Quinones is the Director of Deland Development Corporation.
What is the revenue of Deland Development Corporation?
Deland Development Corporation's revenue in 2022 was $60,000.
Who are the executives of Deland Development Corporation and what are their salaries?
Here are 6 key members and their salaries:
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- Related: $132,807
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Where can I find the form 990 for Deland Development Corporation?
Deland Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Deland Development Corporation
Deland Development Corporation, a non-profit organization, is committed to creating, owning, developing, constructing, and managing affordable housing units for the residents of Volusia County, Florida. Their primary mission is twofold: firstly, they aim to acquire and redevelop properties in affordable housing communities, and secondly, they provide community and social services to the residents of Volusia County.
In pursuit of their mission, Deland Development Corporation is currently revitalizing a 25-acre area in Volusia County, transforming it into an affordable housing community. This community will consist of two distinct sections: Laurel Villas, a mixed-income family rental housing complex with 112 units, and Laurel Court, a rental housing complex specifically designed for the elderly and disabled, with at least 96 units. Both Laurel Villas and Laurel Court will cater to households whose income does not exceed 60% of the area median income.
By providing affordable housing and supporting community services, Deland Development Corporation is contributing to the well-being and stability of its residents, enabling them to focus on other aspects of their lives. This approach aligns with their mission to empower and support the community, making Deland Development Corporation a significant player in the affordable housing sector in Volusia County, Florida.
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Impact
August, 2024
Deland Development Corporation's impact is evident in its efforts to create, own, develop, construct, and manage affordable housing for the residents of Volusia County, Florida. The organization is revitalizing 25 acres in Volusia County to establish an affordable housing community called Laurel Villas, consisting of 112 units of mixed-income family rental housing, along with at least 96 units of elderly or disabled rental housing known as Laurel Court. These developments aim to serve households with incomes not exceeding 60% of the area median income, addressing the critical need for affordable housing in the community. Through these initiatives, Deland Development Corporation is making a significant contribution towards addressing housing affordability issues in Volusia County.
This information is meant to be a general summary of Deland Development Corporation. 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.
- Program Service Revenue: $60,000
- Gross Receipts: $60,000
Assets and Liabilities:
- Total Assets: $1,344,992
- Total Liabilities: $630,057
- Net Assets: $714,935
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$60,000
Organization Details
Founding Year
2007
Phone
(386) 624-6909Principal Officer
Millie Quinones
Main Address
460 LAUREL RIDGE WAY, DELAND, FL, 327247502
NTEE Category
Code: L20 - Housing
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