Overview
What is Development Ventures Inc?
Development Ventures Inc, located in Durham, North Carolina, is a dedicated nonprofit organization focused on developing and managing affordable housing communities for local residents. Currently, they oversee Lincoln Apartments and the Goley Pointe Project, and are involved in the development of 1010 Worth Street. Additionally, they serve as the developer for the Preiss-Steele Place redevelopment project. Their mission is to provide affordable housing solutions, enhancing the living conditions for Durham's residents.
Official website here: www.durhamhousingauthority.org
Is Development Ventures Inc legitimate?
Development Ventures Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Development Ventures Inc 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: $10,286
For more financial information, click here
Official website here: www.durhamhousingauthority.org
What is the mission statement of Development Ventures Inc?
Development Ventures Inc's mission is centered around developing and managing affordable housing communities. The organization strives to serve low-income residents, currently focusing on Durham, North Carolina. As of now, Development Ventures Inc manages Lincoln Apartments and the Goley Pointe Project. Additionally, they are involved in the development of 1010 Worth Street and are the developers for the Preiss-Steele Place redevelopment project. The organization's primary goal is to provide affordable housing solutions for its residents.
Official website here: www.durhamhousingauthority.org
Who is the CEO of Development Ventures Inc?
Ralph Staley is the Chief Financial Officer of Development Ventures Inc. The CEO's salary of Development Ventures Inc is $0 and their total compensation is $209,740.
Official website here: www.durhamhousingauthority.org
What is the revenue of Development Ventures Inc?
Development Ventures Inc's revenue in 2022 was $244,976.
Official website here: www.durhamhousingauthority.org
Who are the executives of Development Ventures Inc and what are their salaries?
Here are 14 key members and their salaries (Development Ventures Inc's CEO's salary is $0 and their total compensation is $209,740):
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- Related: $209,740
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- Related: $126,309
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- Related: $148,446
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- Compensation: $0
- Related: $129,774
- Other: $0
- Compensation: $0
- Related: $101,625
- Other: $0
Official website here: www.durhamhousingauthority.org
Where can I find the form 990 for Development Ventures Inc?
Development Ventures Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.durhamhousingauthority.org
Learn more at the official website: www.durhamhousingauthority.org
Mission Statement of Development Ventures Inc
Development Ventures Inc, a nonprofit organization, is committed to the development and operation of affordable housing communities. This mission serves the residents of Durham, North Carolina. Currently, Development Ventures Inc is responsible for the ownership of Lincoln Apartments and the Goley Pointe Project. Beyond these existing projects, the organization is also involved in the development of 1010 Worth Street and serves as the developer for the Preiss-Steele Place redevelopment project. Through these initiatives, Development Ventures Inc aims to provide affordable housing options for its community, contributing to a stable living environment for its residents.
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Impact
October, 2024
Development Ventures Inc significantly impacts the community of Durham by focusing on the development and operation of affordable housing. By creating communities like Lincoln Apartments and the Goley Pointe Project, they provide crucial shelter options for low-income residents. Their ongoing efforts, including the development of 1010 Worth Street and the Preiss-Steele Place redevelopment project, address the pressing need for accessible housing in the area. Through these initiatives, Development Ventures Inc not only enhances the living conditions for many families but also contributes to the overall economic and social well-being of Durham.
This information is meant to be a general summary of Development Ventures Inc. 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: $21
- Program Service Revenue: $244,955
- Gross Receipts: $244,976
Assets and Liabilities:
- Total Assets: $7,605,902
- Total Liabilities: $1,348,148
- Net Assets: $6,257,754
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OTHER TENANT REVENUE
Revenue
$186,926
TENANT REVENUE
Revenue
$58,029
Organization Details
Founding Year
1985
Phone
(919) 683-1551Principal Officer
Ralph Staley
Main Address
330 E MAIN STREET, DURHAM, NC, 27701
NTEE Category
Code: L20 - Housing
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