National Development Foundation Inc
- Assets
- $23.5m
- Revenue
- $874.0k
- Investments
- $0.0
- Employees
- 5
- Location
- Oviedo, FL
- Founding
- 05/1998
- Data as of
- 12/2021
- EIN
- 65-0820596
Organization Overview
National Development Foundation Inc is located in Oviedo, FL. The organization was established in 1998. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, National Development Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Development Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE, PRESERVE, EXPAND, REHABILITATE, AND ENHANCE THE NUMBER AND QUALITY OF HOUSING STOCK AVAILABLE TO LOW AND MODERATE INCOME, ELDERLY AND DISABLED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SERVICES TO SEVERAL LOW AND MODERATE INCOME RENTAL REAL ESTATE APARTMENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randall E Fleming President | OfficerTrustee | 25 | $172,710 |
Elizabeth R Vermales Vice President | OfficerTrustee | 25 | $160,210 |
Cynthia K Skrocki Treasury/secr.,vice Pres. | OfficerTrustee | 25 | $135,210 |
Jael Menendez Director | Trustee | 5 | $250 |
Angie Tanner Director | Trustee | 5 | $250 |
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 | $0 |
| Investment income | $7,227 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$262,060 |
| Net Gain/Loss on Asset Sales | $1,128,805 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $873,972 |
| 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. | $229,794 |
| 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 | $0 |
| Fees for services: Legal | $8,117 |
| 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 | $150 |
| Advertising and promotion | $0 |
| Office expenses | $683 |
| Information technology | $25 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,075 |
| 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 | $0 |
| Insurance | $3 |
| All other expenses | $392 |
| Total functional expenses | $265,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,613,400 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $60,437 |
| Net Land, buildings, and equipment | $19,657,259 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $16,556 |
| Other assets | $139,573 |
| Total assets | $23,487,225 |
| Accounts payable and accrued expenses | $865,859 |
| 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 | $25,022,100 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,843,816 |
| Total liabilities | $27,731,775 |
| Net assets without donor restrictions | -$4,244,550 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $23,487,225 |
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