Overview
What is South Eastern Development Foundation?
The South Eastern Development Foundation, situated in Sioux Falls, South Dakota, is a nonprofit organization dedicated to enhancing community development and stimulating economic growth. Through their housing financing and development initiatives, they offer affordable housing opportunities to families with moderate to low incomes within the region. To achieve this mission, the foundation engages in small business lending and affordable housing projects, thereby contributing to the overall strengthening of their local communities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The South Eastern Development Foundation has received an impressive Four-Star rating from Charity Navigator, highlighting its strong performance in accountability and finance. This score is particularly significant as it reflects the organization's commitment to maintaining transparency and responsible financial management, indicated by its perfect score in several key categories, including independent board membership and financial oversight.
The organization's strengths are evident in its financial practices, with a program expense ratio of 84.38%, meaning that a substantial portion of its funds is directed towards its programs. Additionally, the foundation boasts a fully independent board and robust policies for conflicts of interest and whistleblower protections, reinforcing its dedication to ethical governance.
However, while the rating underscores the foundation's financial health and governance, further information about its programmatic impact and overall effectiveness could provide a more comprehensive view of its contributions to the community. Overall, the South Eastern Development Foundation appears to be a well-managed organization focused on accountability.
This AI summary has been generated from information found on Charity Navigator.
Is South Eastern Development Foundation legitimate?
South Eastern Development Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. South Eastern Development Foundation 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 South Eastern Development Foundation?
The South Eastern Development Foundation's mission is centered around enhancing community growth and stimulating economic development. They achieve this through two primary initiatives: offering financial assistance to small businesses and providing affordable housing opportunities for low and moderate income families. This foundation's activities aim to foster economic advancement and improve living conditions within the community.
Who is the CEO of South Eastern Development Foundation?
Eric Dehaan is the President of South Eastern Development Foundation.
What is the revenue of South Eastern Development Foundation?
South Eastern Development Foundation's revenue in 2022 was $2,283,474.
Who are the executives of South Eastern Development Foundation and what are their salaries?
There 5 volunteers at South Eastern Development Foundation.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $283,026
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for South Eastern Development Foundation?
South Eastern Development Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of South Eastern Development Foundation
The South Eastern Development Foundation's mission is centered around reinforcing communities and stimulating economic growth. They achieve this through two primary initiatives: providing small business loans and promoting affordable housing opportunities. By offering small business lending, the foundation aims to support local entrepreneurs and contribute to the economic development of the communities they serve. On the other hand, their affordable housing initiatives provide a vital service to low and moderate-income families, ensuring they have access to suitable living spaces. This holistic approach, focusing on both economic development and housing needs, is the South Eastern Development Foundation's mission in action.
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Impact
October, 2024
The South Eastern Development Foundation significantly impacts the Sioux Falls region by enhancing community resilience and driving economic growth. Through its housing financing and development initiatives, it provides affordable housing opportunities for low and moderate-income families, addressing critical housing shortages and fostering stability within communities.
Additionally, by focusing on small business lending, the Foundation stimulates local economies, empowering entrepreneurs to launch and sustain their businesses. This dual approach not only improves living conditions but also creates jobs, encourages investment, and contributes to the overall economic development of the area. By prioritizing community improvement, the South Eastern Development Foundation plays a pivotal role in building a more vibrant and equitable region.
This information is meant to be a general summary of South Eastern Development Foundation. 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.
- Investment Income: $36,785
- Program Service Revenue: $815,092
- Gross Receipts: $5,710,920
Assets and Liabilities:
- Total Assets: $24,350,376
- Total Liabilities: $8,808,969
- Net Assets: $15,541,407
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Housing Development
Revenue
$215,595
Interest on Notes Receiva
Revenue
$547,893
Loan Origination Fees
Revenue
$34,887
Miscellaneous
Revenue
$16,717
Organization Details
Founding Year
2002
Phone
(605) 681-8172Principal Officer
Eric Dehaan
Main Address
500 N Western Avenue, Sioux Falls, SD, 57104
NTEE Category
Code: S32 - Community improvement
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