DALLAS DEVELOPMENT FUND

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2009

Legal Domicile

Principal Officer

DREXELL OWUSU

Phone

2146701222

Tax Period

2023-10-01 to 2024-09-30

DALLAS DEVELOPMENT FUND, founded in 2009, is a community nonprofit in the Health Care sector that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 158% from the prior year, signaling strong growth momentum. The organization ran a surplus of $834K, a strong 54% operating margin.

Mission

THE DALLAS DEVELOPMENT FUND IS ORGANIZED FOR THE PURPOSE OF AIDING, ASSISTING, AND ACTING ON BEHALF OF THE CITY OF DALLAS, TEXAS IN THE THE PERFORMANCE OF ITS GOVERNMENTAL FUNCTIONS TO PROMOTE THE COMMON GOOD AND GENERAL WELFARE OF THE CITY, INCLUDING, WITHOUT LIMITIATION, FOR THE BENEFIT OF, AND TO ASSIST IN CARRYING OUT THE ECONOMIC DEVELOPMENT PROGRAM AND OBJECTIVES OF THE CITY BY GENERATING PRIVATE INVESTMENT CAPITAL THROUGH THE NEW MARKETS TAX CREDIT PROGRAM TO BE MADE AVAILABLE FOR INVESTMENT IN LOW-INCOME COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $342,173 Revenue: $1,550,106

TO ASSIST IN CARRYING OUT THE ECONOMIC DEVELOPMENT PROGRAM AND OBJECTIVES OF THE CITY OF DALLAS, TEXAS BY GENERATING PRIVATE INVESTMENT CAPITAL THROUGH THE NEW MARKETS TAX CREDIT PROGRAM TO BE MADE AVAILABLE FOR INVESTMENT IN LOW-INCOME COMMUNITIES. THE ORGANIZATION HAS RECEIVED $240 MILLION OF NEW MARKETS TAX CREDIT ALLOCATION TO DATE. THIS RESOURCE IS BEING USED TO PROVIDE CAPITAL TO JOB-GENERATING ECONOMIC DEVELOPMENT PROJECTS WITHIN THE ECONOMICALLY DISTRESSED AREAS OF DALLAS, PARTICULARLY IN SOUTHERN DALLAS. THESE STRATEGIES COMPLEMENT EXISTING CITY EFFORTS TO COMBAT UNEVEN DEVELOPMENT PATTERNS THAT HAVE HISTORICALLY CONCENTRATED NEW COMMERCIAL ACTIVITY IN NORTH DALLAS, AND TO USE TRANSIT-ORIENTED DEVELOPMENT PRINCIPLES TO CREATE ACCESSIBLE URBAN VILLAGE CENTERS IN DISINVESTED NEIGHBORHOODS. DDF'S FINANCING PRODUCTS FEATURE SUCH ATTRIBUTES AS BELOW-MARKET INTEREST RATES, HIGHER THAN TYPICAL LOAN-TO-VALUE RATIOS, AND/OR PROVISION OF EQUITY. TO DATE, DDF HAS CLOSED $222 MILLION IN NMTC FINANCING AS OF 9/30/2024.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,550,106

Investment Income $5,025

Other Revenue $0

TOTAL REVENUE $1,555,131

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $342,173

Other Expenses $720,982

TOTAL EXPENSES $720,982

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,555,131	$602,871	+1.6%
Expenses	$720,982	$569,090	+0.3%
Net Income	$834,149	$33,781	+23.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$159,459

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DORA ZAPATA	DIRECTOR	0.50	Director	$0	$0	$0
DREXELL OWUSU	TREASURER	0.50	Officer Director	$0	$0	$0
EDWARD OKPA	OUTGOING DIRECTOR	0.50	Director	$0	$0	$0
GILBERT GERST	OUTGOING PRESIDENT AND DIRECTOR	1.00	Officer Director	$0	$0	$0
MICHAEL HORNE	DIRECTOR	0.50	Director	$0	$0	$0
NADIA SALIBI	DIRECTOR AND VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
SANTIAGO BELLO	DIRECTOR	0.50	Director	$0	$0	$0
SHERIDAN NIXON	DIRECTOR	0.50	Director	$0	$0	$0
TERRY KITTLESON	DIRECTOR	0.50	Director	$0	$0	$0
HEATHER LEPESKA	SECRETARY	16.00	Officer	$0	$9,650	$159,459

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,555,131	$720,982	$6,114,649	$834,149
2023	$602,871	$569,090	$5,575,362	$33,781
2022	$429,576	$867,494	$5,780,682	$-437,918
2021	$6,735,720	$6,397,785	$6,293,260	$337,935
2020	$2,329,222	$1,781,544	$5,766,274	$547,678
2019	$1,461,701	$539,930	$4,227,137	$921,771
2018	$632,026	$313,274	$3,340,035	$318,752