Overview
What is Development Corporation Of Tarrant County Inc?
Development Corporation of Tarrant County Inc is a nonprofit organization based in Fort Worth, Texas, located at 1509-B S UNIVERSITY DR 208. Their primary mission is to promote and facilitate community and economic development within the Tarrant County region. They achieve this by connecting local government, public financing institutions, private lenders, and nonprofit organizations involved in community-based projects. Their activities primarily focus on the development of multi-family and single-family housing, acting as a catalyst to foster holistic growth in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 37% (Zero-Star out of Four Stars)
The Development Corporation of Tarrant County Inc has received a significant rating of 37% from Charity Navigator, which corresponds to a Zero-Star designation. This score reflects concerns primarily surrounding the organization's accountability and financial transparency. While the board is entirely independent and adheres to some best practices, the absence of accessible financial statements raises substantial red flags about the organization's fiscal health.
Strengths of the nonprofit include a fully independent board and established conflict of interest and whistleblower policies, which are positive indicators of governance. However, the accountability score has been heavily impacted by the lack of financial documentation, leading to a low assessment in that area. The organization was noted for having a material diversion of assets, but there were none reported, which is a positive aspect.
Conversely, the organization shows weaknesses in its financial ratios, indicating potential issues with its program expenses. With only 45.24% of its spending going towards programs and a liability-to-assets ratio of 2.62%, serious concerns about its financial viability and effectiveness can be raised. Overall, while there are governance strengths, the profound financial transparency issues overshadow them, warranting caution for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Development Corporation Of Tarrant County Inc legitimate?
Development Corporation Of Tarrant County Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Development Corporation Of Tarrant County 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: $130,991
Professional Fundraising Fees: $0
Other Salaries and Wages: $101,841
For more financial information, click here
What is the mission statement of Development Corporation Of Tarrant County Inc?
The Development Corporation of Tarrant County Inc serves as a catalyst for holistic community and economic development within its geographic region. It bridges the gap between local government, public financing institutions, private lenders, and nonprofit organizations, facilitating community-based projects. The corporation's mission is to support these entities in undertaking projects that contribute to the overall development of multi-family and single-family housing, striving to enhance the region's real estate sector.
Who is the CEO of Development Corporation Of Tarrant County Inc?
Charlie Price is the President of Development Corporation Of Tarrant County Inc.
What is the revenue of Development Corporation Of Tarrant County Inc?
Development Corporation Of Tarrant County Inc's revenue in 2022 was $5,365,540.
Who are the executives of Development Corporation Of Tarrant County Inc and what are their salaries?
Here are 10 key members and their salaries:
- Compensation: $130,991
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Where can I find the form 990 for Development Corporation Of Tarrant County Inc?
Development Corporation Of Tarrant County Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Development Corporation Of Tarrant County Inc
Development Corporation of Tarrant County Inc serves as a catalyst, promoting a holistic approach to community and economic development within its geographic region. It accomplishes this by acting as a bridge between local government, public financing institutions, private lenders, and nonprofit organizations engaged in community-based projects. By connecting these entities, the corporation plays a crucial role in facilitating the development of multi-family and single-family housing projects. This mission is focused on fostering sustainable growth and improvement within the community, ultimately contributing to its overall well-being.
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Impact
July, 2024
Development Corporation Of Tarrant County Inc acts as a catalyst for a holistic approach to community and economic development within the Tarrant County geographic region. This organization plays a crucial role by providing a link between local government, public financing institutions, private lenders, and organizations undertaking community-based projects. Their activities primarily focus on the development of multi-family and single-family housing, as well as the seeking and development of real estate in the region. Through their work, Development Corporation Of Tarrant County Inc significantly impacts the local community by addressing housing needs and promoting economic growth in Fort Worth, TX.
This information is meant to be a general summary of Development Corporation Of Tarrant County 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: $3,778,730
- Program Service Revenue: $1,073,754
- Gross Receipts: $7,636,379
Assets and Liabilities:
- Total Assets: $10,640,467
- Total Liabilities: $279,070
- Net Assets: $10,361,397
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$609,568
DEVELOPER FEES
Revenue
$364,216
ASSET MANAGEMENT FEES
Revenue
$92,068
GENERAL CONTRACT MANAGEMENT AND O
Revenue
$7,902
Organization Details
Founding Year
1998
Phone
(817) 870-9008Principal Officer
Charlie Price
Main Address
1509-B S UNIVERSITY DR 208, FORT WORTH, TX, 76107
NTEE Category
Code: L20 - Housing
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