Overview
What is Southfair Community Development Corp?
Southfair Community Development Corp is a nonprofit organization situated in Dallas, Texas, with a focus on housing and community development. Their mission encompasses acquiring, developing, rehabilitating, constructing, and preserving decent, affordable housing for low and moderate-income individuals and families. Through their efforts, they promote neighborhood revitalization and encourage economic and social participation within the community to combat poverty. Southfair has completed 30 affordable single-family homes, operated a rent-to-own program, and received city grants for marketing purposes. They sold three houses in 2021 and completed construction on three more. The organization is currently engaged in pre-development work on townhomes at Malcolm's Point and Malcolm's Point Retail, as well as initiating preliminary discussions for Malcolm's Point Scholar House. With a team of 6 employees, Southfair Community Development Corp continues to contribute to affordable housing and community development in Dallas.
Official website here: www.southfaircdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 61%, earning a Two-Star out of Four Star rating. The rating indicates that Southfair Community Development Corp has room for improvement in its accountability and finance practices. While the organization has a solid program expense ratio of 80.63%, suggesting strong programmatic spending, its overall score reflects concerns regarding governance and financial transparency.
One notable strength is the organization's governance structure, which features a fully independent board with 12 members. Additionally, there are no reported material diversions of assets, indicating a level of financial integrity. However, the absence of key policies such as conflict of interest, whistleblower, and document retention policies raises red flags about the organization's commitment to best practices in governance.
Furthermore, Southfair Community Development Corp shows a high liabilities to assets ratio of 79.67%, which suggests potential financial strain. The lack of publicly available financial documents on the nonprofit's website further complicates transparency efforts. Overall, while the organization demonstrates strengths in specific areas, the deficiencies in governance and finance policies may hinder its reputation and effectiveness in the long term.
This AI summary has been generated from information found on Charity Navigator.
Is Southfair Community Development Corp legitimate?
Southfair Community Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southfair Community Development Corp 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: $83,123
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.southfaircdc.org
What is the mission statement of Southfair Community Development Corp?
Southfair Community Development Corp's mission is centered around acquiring, developing, rehabilitating, constructing, and preserving decent, affordable housing for low and moderate-income individuals and families. This mission aims to revitalize neighborhoods and foster economic and social participation in the community to combat poverty. Through their work, they promote the development of single-family housing and activities that promote affordable housing, ultimately strengthening communities. This organization has completed several projects, including the construction of 30 affordable single-family homes, operated a rent-to-own program, and continues to make progress on various housing developments.
Official website here: www.southfaircdc.org
Who is the CEO of Southfair Community Development Corp?
Annie Evans is the Executive Director of Southfair Community Development Corp.
Official website here: www.southfaircdc.org
What is the revenue of Southfair Community Development Corp?
Southfair Community Development Corp's revenue in 2022 was $461,515.
Official website here: www.southfaircdc.org
Who are the executives of Southfair Community Development Corp and what are their salaries?
The average compensation at Southfair Community Development Corp during 2022 was $13,854. There are 6 employees at Southfair Community Development Corp.
Here are 13 key members and their salaries:
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Official website here: www.southfaircdc.org
Where can I find the form 990 for Southfair Community Development Corp?
Southfair Community Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.southfaircdc.org
Learn more at the official website: www.southfaircdc.org
Mission Statement of Southfair Community Development Corp
Southfair Community Development Corp, a nonprofit organization, is dedicated to acquiring, developing, rehabilitating, constructing, and preserving decent and affordable housing for low and moderate-income individuals and families. Their mission aims to promote the revitalization of neighborhoods and encourage the economic and social participation of the community to eradicate poverty. By focusing on affordable housing, Southfair Community Development Corp seeks to foster a sense of community and provide a safe and adequate living environment for those in need. They have completed the development of 30 affordable single-family homes, operated a rent-to-own program, and made substantial progress on the construction of remaining houses in their developments. The organization has also sold three houses in 2021 and completed construction on three more. In addition, Southfair Community Development Corp is continuing pre-development work on townhomes at Malcolm's Point and Malcolm's Point Retail. They are also in the preliminary stages of discussions for Malcolm's Point Scholar House, demonstrating their commitment to providing affordable housing solutions and revitalizing communities.
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Impact
July, 2024
Southfair Community Development Corp's impact can be seen in the tangible results of their efforts to provide decent affordable housing for low and moderate-income persons and families. By acquiring, developing, rehabilitating, constructing, and preserving affordable housing, Southfair CDC is actively contributing to the revitalization of neighborhoods and promoting quality economic and social participation within the community to help eliminate poverty.
Through their housing and community development programs, Southfair CDC has completed the development of 30 affordable single-family homes and operated a rent-to-own program for prospective homebuyers. They have increased marketing efforts through the use of city grants and have made significant progress on the construction of remaining houses in the development. In 2021, Southfair CDC sold three houses and completed construction of three others.
Moreover, Southfair CDC has also undertaken pre-development work on townhomes at Malcolm's Point and Malcolm's Point Retail. They have initiated discussions on building Malcolm's Point Scholar House, indicating a commitment to expanding their impact beyond traditional housing development. Underlying all these actions is the organization's clear mission to address housing affordability and promote community well-being.
This information is meant to be a general summary of Southfair Community Development Corp. 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: $316,921
- Gross Receipts: $461,515
Assets and Liabilities:
- Total Assets: $1,434,542
- Total Liabilities: $1,076,952
- Net Assets: $357,590
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL PROPERTY
Revenue
$313,511
OTHER INCOME
Revenue
$3,410
Organization Details
Founding Year
2000
Phone
(214) 421-1363Principal Officer
Annie Evans
Main Address
2610 MARTIN LUTHER KING BLVD, DALLAS, TX, 75215
Website
www.southfaircdc.orgNTEE Category
Code: L20Z - Housing
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