Dragonfly Dreams Housing Inc
- Assets
- $2.8m
- Revenue
- $775.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Lancaster, OH
- Founding
- 09/2017
- Data as of
- 12/2023
- EIN
- 47-5678787
Organization Overview
Dragonfly Dreams Housing Inc is located in Lancaster, OH. The organization was established in 2017. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dragonfly Dreams Housing Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Dragonfly Dreams Housing Inc generated $775.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $727.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF DRAGONFLY DREAMS HOUSING, INC., IS TO ASSIST LOW INCOME FAMILIES, INCLUDING THOSE WHO ARE ELDERLY OR DISABLED, WITH SAFE, ADEQUATE AND AFFORDABLE HOUSING OPPORTUNITIES AS THOSE FAMILIES STRIVE TO ACHIEVE SELF-SUFFICIENCY AND IMPROVE THE QUALITY OF THEIR LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AN AVERAGE OF 93.5 LOW-INCOME FAMILIES WERE HOUSED EACH MONTH. TENANTS SIGNED A ONE YEAR LEASE AND PAY 30% OF THEIR INCOME TOWARD RENT WITH THE REST BEING PAID BY A HOUSING ASSISTANCE PAYMENT CONTRACT WITH FAIRFIELD METROPOLITAN HOUSING AUTHORITY. THE 97.40% OCCUPANCY FOR THE 96 UNITS IS BELOW THE GOAL OF 98% . THE GOAL OF FUNDING THE CAPITAL REPLACEMENT RESERVE ON A MONTHLY BASIS HAS ALSO BEEN MET FOR THE TIME PERIOD. THE RESERVE IS BASED ON A 20 YEAR PHYSICAL NEEDS STUDY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ursula Laveck Chairman | Trustee | 0.23 | $0 |
Jody Cirigliano Vice-Chairman | Trustee | 0.23 | $0 |
Richard Bowen Director | Trustee | 0.23 | $0 |
Patrick Welshresigned Part Yr Director | Trustee | 0.23 | $0 |
Megan Meadows Director | Trustee | 0.23 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $750,922 |
| Investment income | $25,026 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $775,948 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $584,836 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $142,783 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $727,619 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8 |
| Savings and temporary cash investments | $940,933 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $527 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,834,221 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $73,391 |
| Total assets | $2,849,080 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,849,080 |
| Total liabilities and net assets/fund balances | $2,849,080 |