Overview
What is St Mary Development Corporation?
St. Mary Development Corporation is a nonprofit organization situated in Dayton, Ohio, specifically at 2160 E Fifth Street. Their primary mission is to improve affordable housing scenarios in southwest Ohio and various other states. They achieve this goal through a multifaceted approach, including real estate development and management, providing resident services, and engaging in community development and fundraising activities. By implementing these strategies, the corporation aims to help aging residents maintain their homes for a longer period, ensuring a sustainable living environment. With a workforce of 28 individuals, St. Mary Development Corporation is dedicated to addressing housing challenges and contributing positively to their community.
Official website here: www.stmarydevelopment.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 81%, Three-Star out of Four Star rating.
St Mary Development Corporation has received a Three-Star rating from Charity Navigator, reflecting a solid performance primarily in Accountability & Finance. The organization scored 81% overall, indicating effective governance and financial management practices. The board of directors is fully independent, contributing to a transparent operational structure.
The nonprofit demonstrates strong adherence to policies such as conflict of interest, whistleblower protections, and document retention, all of which add to its credibility. Additionally, there are no reported issues with material diversion of assets, showcasing the integrity of its financial practices. The organization maintains a healthy liabilities to assets ratio and a high program expense ratio, indicating that a significant portion of its resources is allocated toward its programs.
Despite these strengths, the overall rating suggests there may be areas for improvement, although specific limitations were not highlighted in the feedback. Overall, St Mary Development Corporation appears to manage its finances responsibly while adhering to good governance practices.
This AI summary has been generated from information found on Charity Navigator.
Is St Mary Development Corporation legitimate?
St Mary Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Mary 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: $684,268
Professional Fundraising Fees: $0
Other Salaries and Wages: $733,746
For more financial information, click here
Official website here: www.stmarydevelopment.org
What is the mission statement of St Mary Development Corporation?
The St Mary Development Corporation is dedicated to creating sustainable, affordable housing solutions in various states beyond Southwest Ohio. They achieve this goal through real estate development and management, resident services, fundraising, and community development. Specifically, their resident services and fundraising initiatives aim to support aging residents, enabling them to continue living in their homes for an extended period. This organization's mission is centered around providing affordable housing solutions and supporting residents, thereby contributing to the overall improvement of communities.
Official website here: www.stmarydevelopment.org
Who is the CEO of St Mary Development Corporation?
Timothy Bete is the Board Of Directors of St Mary Development Corporation.
Official website here: www.stmarydevelopment.org
What is the revenue of St Mary Development Corporation?
St Mary Development Corporation's revenue in 2022 was $3,928,839.
Official website here: www.stmarydevelopment.org
Who are the executives of St Mary Development Corporation and what are their salaries?
The average compensation at St Mary Development Corporation during 2022 was $50,643. There are 28 employees at St Mary Development Corporation.
Here are 13 key members and their salaries:
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- Compensation: $178,387
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- Other: $29,957
- Compensation: $134,152
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- Other: $29,285
- Compensation: $159,382
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- Other: $21,767
- Compensation: $111,638
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- Other: $19,700
Official website here: www.stmarydevelopment.org
Where can I find the form 990 for St Mary Development Corporation?
St Mary Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.stmarydevelopment.org
Learn more at the official website: www.stmarydevelopment.org
Mission Statement of St Mary Development Corporation
St. Mary Development Corporation is dedicated to creating sustainable, affordable housing solutions in various states beyond Southwest Ohio. This is achieved through strategic real estate development and management, resident services, and fundraising efforts, along with community development initiatives. The corporation's primary mission is to provide aging residents with the necessary services to enable them to continue living in their homes for an extended period. This commitment to community and resident welfare underscores St. Mary Development Corporation's dedication to improving lives and fostering lasting, affordable housing solutions.
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Impact
October, 2024
St Mary Development Corporation significantly impacts communities in Southwest Ohio and beyond by creating lasting, affordable housing solutions. Through its real estate development and management initiatives, the organization addresses the critical need for accessible housing, contributing to the overall well-being of residents.
Their focus on resident services ensures that aging individuals can remain in their homes longer, fostering independence and enhancing quality of life. Furthermore, their fundraising efforts support community development initiatives, strengthening local infrastructures and promoting sustainable growth. Overall, St Mary Development Corporation plays a vital role in enhancing housing stability and community resilience, ultimately improving the lives of those they serve.
This information is meant to be a general summary of St Mary 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.
- Investment Income: $162,853
- Program Service Revenue: $2,583,450
- Gross Receipts: $4,027,561
Assets and Liabilities:
- Total Assets: $32,204,723
- Total Liabilities: $16,146,193
- Net Assets: $16,058,530
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INC DEVELOPER FEES
Revenue
$1,360,790
SENIOR HOUSING
Revenue
$479,313
LOW INC HOUSING MGMT
Revenue
$390,310
OUTREACH SERVICES
Revenue
$353,037
Organization Details
Founding Year
1989
Phone
(937) 277-8149Principal Officer
Timothy Bete
Main Address
2160 E FIFTH STREET, DAYTON, OH, 45403
Website
www.stmarydevelopment.orgNTEE Category
Code: L20 - Housing
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