Nonprofit · EIN 26-4342371
DALLAS DEVELOPMENT FUND
Tax-exempt · DALLAS, TX 75201
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $708,840 | $477,837 | $231,003 | $6,208,168 | $491,241 | $5,716,927 |
| September 30, 2024 | 990 | $1,555,131 | $720,982 | $834,149 | $6,114,649 | $628,725 | $5,485,924 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $636,855
- Investment income
- $34,485
- Other revenue
- $37,500
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $60,840
- Program services (functional)
- $148,395
- Management and general (functional)
- $329,442
Balance sheet and other
- Total assets, start of year
- $6,114,649
- Total assets, end of year
- $6,208,168
- Total liabilities, end of year
- $491,241
- Net assets, end of year
- $5,716,927
- Net assets without donor restrictions
- $5,716,927
- Gross receipts
- $708,840
- Employees
- 0
- Volunteers
- 7
- Year formed
- 2009
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| HEATHER LEPESKA | SECRETARY Officer | 16 | $0 | $162,827 | $16,386 |
| DORA ZAPATA | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| DREXELL OWUSU | PRESIDENT & DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| MICHAEL HORNE | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| NADIA SALIBI | DIRECTOR AND VICE PRESIDEN Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| SANTIAGO BELLO | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| SHERIDAN NIXON | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| TERRY KITTLESON | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
990 for the year ended September 30, 2024: 10 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| HEATHER LEPESKA | SECRETARY Officer | 16 | $0 | $149,809 | $9,650 |
| DORA ZAPATA | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| DREXELL OWUSU | TREASURER Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| EDWARD OKPA | OUTGOING DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| GILBERT GERST | OUTGOING PRESIDENT AND DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| MICHAEL HORNE | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| NADIA SALIBI | DIRECTOR AND VICE PRESIDENT Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| SANTIAGO BELLO | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| SHERIDAN NIXON | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| TERRY KITTLESON | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1500 MARILLA STREET 6DN, DALLAS, TX 75201-6318
- In care of
- % HEATHER LEPESKA
- Principal officer (990 for 2024)
- DREXELL OWUSU, 1500 MARILLA STREET 6DN, DALLAS, TX 752016318
- Signed the 990
- HEATHER LEPESKA, SECRETARY
- Phone
- (214) 670-1222
- Return prepared by
- COHNREZNICK ADVISORY LLC
Mission
SEE SCHEDULE OTHE 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 accomplishments
- SEE SCHEDULE OTO 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 $229 MILLION IN NMTC FINANCING AS OF 9/30/2025.Expenses $148,395 · revenue $674,355
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 15, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 16, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 17, 2025 | 990 on file |
IRS record
- EIN
- 26-4342371
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type III functionally integrated
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2014
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Health care (E19)
- Assets (IRS master file)
- $6,208,168
- Income (IRS master file)
- $708,840
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | – | – | – | IRS |
| 990 | September 2024 | – | – | – | IRS |
| 990 | September 2023 | $602,871 | $569,090 | $5,575,362 | IRS |
| 990 | September 2022 | $429,576 | $867,494 | $5,780,682 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about DALLAS DEVELOPMENT FUND
- What is the EIN of DALLAS DEVELOPMENT FUND?
- The employer identification number (EIN) of DALLAS DEVELOPMENT FUND is 26-4342371.
- Is DALLAS DEVELOPMENT FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
- Are donations to DALLAS DEVELOPMENT FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does DALLAS DEVELOPMENT FUND file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of DALLAS DEVELOPMENT FUND due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did DALLAS DEVELOPMENT FUND last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of DALLAS DEVELOPMENT FUND?
- The 990 for the year ended September 30, 2025 names DREXELL OWUSU.
- Who are the officers and directors of DALLAS DEVELOPMENT FUND?
- The 990 for the year ended September 30, 2025 lists 8 people; 0 received compensation from the organization.
- How much revenue does DALLAS DEVELOPMENT FUND have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $708,840, expenses of $477,837 and total assets of $6,208,168 at year end.
Other nonprofits in DALLAS
- CHILDRENS HEALTH SYSTEM OF TEXAS EIN 75-0800628 · last filed 990 for 2024
- METHODIST HOSPITALS OF DALLAS EIN 75-0800661 · last filed 990 for 2025
- BAYLOR UNIVERSITY MEDICAL CENTER EIN 75-1837454 · last filed 990 for 2025
- SCOTT & WHITE MEMORIAL HOSPITAL EIN 74-1166904 · last filed 990 for 2025
- BAYLOR SCOTT & WHITE HEALTH EIN 46-3131350 · last filed 990 for 2025
- HEALTHTEXAS PROVIDER NETWORK EIN 75-2536818 · last filed 990 for 2025
- SCOTT & WHITE CLINIC EIN 74-2958277 · last filed 990 for 2025
- TEXAS HEALTH PRESBYTERIAN HOSPITAL DALLAS EIN 75-1047527 · last filed 990 for 2024