Southfair Community Development Corporation
- Assets
- $1.4m
- Revenue
- $461.5k
- Investments
- $0.0
- Employees
- 6
- Location
- Dallas, TX
- Founding
- 04/1993
- Data as of
- 12/2022
- EIN
- 75-2399684
Organization Overview
Southfair Community Development Corporation is located in Dallas, TX. The organization was established in 1993. 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 12/2022, Southfair Community Development Corporation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southfair Community Development Corporation 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 12/2022, Southfair Community Development Corporation generated $461.5k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $526.7k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SOUTH FAIR CDC SEEKS TO ACQUIRE, DEVELOP, REHABILITATE, CONSTRUCT AND PRESERVE DECENT AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME PERSONS AND FAMILIES. THROUGH THE FOSTERING OF LOW INCOME HOUSING, SOUTHFAIR CDC PROMOTES THE REVITALIZATION OF NEIGHBORHOODS AND QUALITY ECONOMIC AND SOCIAL PARTICIPATION OF THE COMMUNITY TO ELIMINATE POVERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING AND COMMUNITY DEVELOPMENT - INCLUDES VARIOUS PROGRAMS FOR THE DEVELOPMENT OF SINGLE FAMILY HOUSING AND ACTIVITES DESIGNED TO FOSTER AFFORDABLE HOUSING AND REVITALIZE NEIGHBORHOODS. SOUTHFAIR CDC HAS COMPLETED A DEVELOPMENT OF 30 AFFORDABLE SINGLE FAMILY HOMES, OPERATED AN RENT TO OWN PROGRAM FOR PROSPECTIVE HOME BUYERS, INCREASED MARKETING THROUGH THE USE OF CITY OF DALLAS GRANTS, AND MADE SUBSTANTIAL PROGRESS ON CONSTRUCTION OF THE REMAINING HOUSES IN THE DEVELOPMENT. SOUTHFAIR CDC SOLD THREE HOUSES IN 2021 AND COMPLETED CONSTRUCTION OF THREE HOUSES. SOUTHFAIR CDC CONTINUED PRE DEVELOPMENT WORK ON TOWNHOMES AT MALCOLM'S POINT AND MALCOLM'S POINT RETAIL. ADDITIONALLY, BEGAN PRELIMINARY WORK AND DISCUSSIONS ON MALCOLM'S POINT SCHOLAR HOUSE.
RENTAL PROPERTY OPERATIONS - PROVIDES OVERSIGHT FOR THE DEVELOPMENT AND REHABILITATION OF MULTI-FAMILY HOUSING IN THE SOUTH DALLAS/FAIR PARK AREA OF DALLAS IN ACCORDANCE WITH THE MASTER PLAN. THIS INCLUDES THE OPERATION OF TWO MULTI-FAMILY AFFORDABLE HOUSING DEVELOPMENTS AND PROVIDING AFFORDABLE HOUSING OF 22 RESIDENTIAL UNITS AND ONE COMMERCIAL PROPERTY USED AS A HEALTH CARE CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Annie Evans Executive Director | Trustee | 40 | $83,123 |
Roy Andy Director. 2nd VP | Trustee | 0.75 | $0 |
Michael Krywucki General Counsel | Trustee | 0.75 | $0 |
Marilynn Mayse Member | Trustee | 0.75 | $0 |
Harry Robinson Jr Vice Chairman | Trustee | 0.75 | $0 |
Lakisha Starks Secretary | Trustee | 0.75 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $96,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $47,994 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $144,594 |
| Total Program Service Revenue | $316,921 |
| Investment income | $0 |
| 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 | $461,515 |
| 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. | $83,123 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $118,259 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,929 |
| Fees for services: Management | $4,108 |
| Fees for services: Legal | $1,230 |
| Fees for services: Accounting | $17,172 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $550 |
| Office expenses | $9,967 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $124,085 |
| Travel | $1,908 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $47,976 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,350 |
| Insurance | $16,396 |
| All other expenses | $5,720 |
| Total functional expenses | $526,706 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,693 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,597 |
| 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 | $5,205 |
| Net Land, buildings, and equipment | $1,383,047 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,434,542 |
| Accounts payable and accrued expenses | $51,951 |
| Grants payable | $0 |
| Deferred revenue | $12,767 |
| 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 | $1,003,884 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,350 |
| Total liabilities | $1,076,952 |
| Net assets without donor restrictions | $357,590 |
| 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 | $1,434,542 |