Overview
What is Nuestra Development Fund Inc?
Nuestra Development Fund Inc, established in 2000, is a Massachusetts-based nonprofit organization. Its primary mission is to offer loans and grants to assist low-income individuals, families, community organizations, and multi-family affordable housing entities in developing, acquiring, improving, operating, renovating, or refurbishing properties and business operations. Currently, the fund is focusing on servicing the remaining loans and has ceased originating new ones. Its activities are geared towards making housing more affordable for those in need, contributing to the betterment of communities in Massachusetts.
Is Nuestra Development Fund Inc legitimate?
Nuestra Development Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nuestra Development Fund 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: $0
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What is the mission statement of Nuestra Development Fund Inc?
Nuestra Development Fund Inc, established in 2000, is a Massachusetts-based nonprofit organization with a mission to provide financial assistance to low and moderate-income individuals, community organizations, and multi-family affordable housing entities. The fund's primary objective is to support the development, acquisition, improvement, operation, renovation, or refurbishment of properties and business operations. Currently, Nuestra Development Fund Inc is focusing on servicing existing loans and is no longer originating new ones.
Who is the CEO of Nuestra Development Fund Inc?
N Paul Tonthat is the President of Nuestra Development Fund Inc.
What is the revenue of Nuestra Development Fund Inc?
Nuestra Development Fund Inc's revenue in 2021 was $32,487.
Who are the executives of Nuestra Development Fund Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Nuestra Development Fund Inc?
Nuestra Development Fund Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Nuestra Development Fund Inc
Nuestra Development Fund Inc, established in 2000, is a Massachusetts-based nonprofit organization with a mission to provide financial assistance to low and moderate-income individuals, families, community organizations, and multi-family affordable housing entities. This nonprofit organization aims to support these entities in developing, acquiring, improving, operating, renovating, or refurbishing properties and business operations. The primary objective of Nuestra Development Fund Inc is to make loans and grants available to help these groups meet their financial needs, thus contributing to the creation and maintenance of affordable housing options. At present, the Fund is engaged in servicing the existing loans and has ceased the process of originating new loans.
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Impact
August, 2024
Nuestra Development Fund Inc has made a significant impact by providing loans and grants to assist low and moderate-income individuals and families, community organizations, and multi-family affordable housing entities in developing, acquiring, improving, operating, renovating, or refurbishing property and business operations. This has helped create affordable housing opportunities and support sustainable community development in Roxbury, MA, and beyond.
This information is meant to be a general summary of Nuestra Development Fund 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 2021.
- Program Service Revenue: $32,487
- Gross Receipts: $32,487
Assets and Liabilities:
- Total Assets: $1,171,051
- Total Liabilities: $950,749
- Net Assets: $220,302
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME ON NOT
Revenue
$32,487
Organization Details
Founding Year
2000
Phone
(617) 427-3599Principal Officer
N Paul Tonthat
Main Address
PO BOX 190939, ROXBURY, MA, 02119
NTEE Category
Code: Z99 - Unknown
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