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EIN 56-1461066

Development Ventures

IRS 501(c) type
501(c)(3)
Num. employees
0
City
Durham
State
North Carolina
Year formed
1985
Most recent tax filings
2023-12-01
NTEE code, primary
L20: Housing Development, Construction, Management
Description
Development Ventures develops and operates affordable housing communities, serving residents of Durham, North Carolina. They own Lincoln Apartments and the Goley Pointe project. Their mission is to provide low-income housing for the community.
Related structure
Development Ventures is a subordinate organization under Edgemont Elms Housing.
Total revenues
$550,587
2023
Total expenses
$732,240
2023
Total assets
$12,661,500
2023
Num. employees
0
2023

Program areas at Development Ventures

The mission of Development Ventures incorporated is to develop and operate affordable housing communities serving residents of durham. Development Ventures incorporated currently serves as the owner of lincoln apartments, the goley pointe project, and laurel oaks apartments. The entity is involved in the Development of 1010 worth street and is the developer for the preiss-steele place redevelopment project.

Financials for Development Ventures

RevenuesFYE 12/2023
Total grants, contributions, etc.$0
Program services$549,476
Investment income and dividends$1,111
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$550,587
Data update history
January 9, 2025
Posted financials
Added Form 990 for fiscal year 2023
January 6, 2025
Updated personnel
Identified 1 new personnel
January 21, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 21, 2024
Updated personnel
Identified 2 new personnel
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Housing and shelter organizationsChapter / child organizationsCharities
Issues
Human servicesHousing
Characteristics
State / local levelTax deductible donationsNo full-time employeesAccepts online donationsLegally formed as corporation
General information
Address
423 Morris St Suite 200
Durham, NC 27701
Metro area
Durham-Chapel Hill, NC
County
Durham County, NC
Website URL
durhamhousingauthority.org/ 
Phone
(919) 683-1551
IRS details
EIN
56-1461066
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1985
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
L20: Housing Development, Construction, Management
NAICS code, primary
62422: Community Housing Services
Parent/child status
Subordinate organization
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