Civic Intelligence

Development Ventures Inc

EIN 56-1461066 • 501(c)3 • Durham, NC

Profile

The mission of development ventures incorporated is to develop and operate affordable housing communities serving residents of durham, north carolina.

423 Morris Street Suite 200Durham, NC 27701

durhamhousingauthority.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

73rd percentile

0.45x

Higher debt load relative to assets than 73% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

89th percentile

2.24x

Higher debt load relative to revenue than 89% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

90th percentile

52%

Higher net margin than 90% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

96th percentile

89%

Faster asset growth than 96% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

99th percentile

783%

Faster revenue growth than 99% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$23,990,842

Up $11,329,342 (+89%) from 2023

Liabilities

Up

$10,876,935

Up $9,250,449 (+569%) from 2023

Net Assets

Up

$13,113,907

Up $2,078,893 (+19%) from 2023

Revenue

Up

$4,862,543

Up $4,311,956 (+783%) from 2023

Expenses

Up

$2,315,861

Up $1,583,621 (+216%) from 2023

Net Income

Up

$2,546,682

Up $2,728,335 (+1502%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2010: $587,500Liabilities 2010: $38,520Net Assets 2010: $548,9802010Assets 2011: $592,906Liabilities 2011: $115,654Net Assets 2011: $477,2522011Assets 2012: $804,373Liabilities 2012: $8,446Net Assets 2012: $795,9272012Assets 2013: $993,389Liabilities 2013: $66,714Net Assets 2013: $926,6752013Assets 2014: $3,268,644Liabilities 2014: $754,180Net Assets 2014: $2,514,4642014Assets 2015: $4,749,288Liabilities 2015: $1,224,238Net Assets 2015: $3,525,0502015Assets 2016: $4,838,465Liabilities 2016: $1,173,161Net Assets 2016: $3,665,3042016Assets 2017: $8,145,265Liabilities 2017: $1,264,986Net Assets 2017: $6,880,2792017Assets 2018: $7,776,680Liabilities 2018: $871,128Net Assets 2018: $6,905,5522018Assets 2019: $7,676,452Liabilities 2019: $1,227,063Net Assets 2019: $6,449,3892019Assets 2020: $7,717,790Liabilities 2020: $1,379,985Net Assets 2020: $6,337,8052020Assets 2021: $7,628,220Liabilities 2021: $1,334,981Net Assets 2021: $6,293,2392021Assets 2022: $7,605,902Liabilities 2022: $1,348,148Net Assets 2022: $6,257,7542022Assets 2023: $12,661,500Liabilities 2023: $1,626,486Net Assets 2023: $11,035,0142023Assets 2024: $23,990,842Liabilities 2024: $10,876,935Net Assets 2024: $13,113,9072024

Highlighted filing

2024

Assets$23,990,842
Liabilities$10,876,935
Net Assets$13,113,907

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $212,6992010Expenses 2011: $78,3492011Expenses 2012: $11,0592012Revenue 2013: $363,842Expenses 2013: $233,094Net Income 2013: $130,7482013Revenue 2014: $1,824,913Expenses 2014: $237,124Net Income 2014: $1,587,7892014Revenue 2015: $1,509,003Expenses 2015: $498,417Net Income 2015: $1,010,5862015Revenue 2016: $1,228,037Expenses 2016: $932,451Net Income 2016: $295,5862016Revenue 2017: $373,836Expenses 2017: $556,788Net Income 2017: -$182,9522017Revenue 2018: $507,774Expenses 2018: $545,459Net Income 2018: -$37,6852018Revenue 2019: $186,411Expenses 2019: $642,574Net Income 2019: -$456,1632019Revenue 2020: $284,433Expenses 2020: $396,017Net Income 2020: -$111,5842020Revenue 2021: $167,042Expenses 2021: $316,877Net Income 2021: -$149,8352021Revenue 2022: $244,976Expenses 2022: $361,617Net Income 2022: -$116,6412022Revenue 2023: $550,587Expenses 2023: $732,240Net Income 2023: -$181,6532023Revenue 2024: $4,862,543Expenses 2024: $2,315,861Net Income 2024: $2,546,6822024

Highlighted filing

2024

Revenue$4,862,543
Expenses$2,315,861
Net Income$2,546,682

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$24.0$10.9$13.1$4.86$2.32$2.55
2023Detailed filing. Detailed filing data is available for this year.$12.7$1.63$11.0$0.55$0.73$0.18
2022Detailed filing. Detailed filing data is available for this year.$7.61$1.35$6.26$0.24$0.36$0.12
2021Detailed filing. Detailed filing data is available for this year.$7.63$1.33$6.29$0.17$0.32$0.15
2020Detailed filing. Detailed filing data is available for this year.$7.72$1.38$6.34$0.28$0.40$0.11
2019Detailed filing. Detailed filing data is available for this year.$7.68$1.23$6.45$0.19$0.64$0.46
2018Detailed filing. Detailed filing data is available for this year.$7.78$0.87$6.91$0.51$0.55$0.04
2017Detailed filing. Detailed filing data is available for this year.$8.15$1.26$6.88$0.37$0.56$0.18
2016Detailed filing. Detailed filing data is available for this year.$4.84$1.17$3.67$1.23$0.93$0.30
2015Detailed filing. Detailed filing data is available for this year.$4.75$1.22$3.53$1.51$0.50$1.01
2014Detailed filing. Detailed filing data is available for this year.$3.27$0.75$2.51$1.82$0.24$1.59
2013Detailed filing. Detailed filing data is available for this year.$0.99$0.07$0.93$0.36$0.23$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$0.01$0.80$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.59$0.12$0.48$0.08
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.59$0.04$0.55$0.21
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 7, 2025
Return Version
2024v5.2
Gross Receipts
$4,951,372
Mission and Program Overview

Mission

The mission of development ventures incorporated (dvi) is to develop and operate affordable housing communities serving residents of durham, north carolina.

Development of low income housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,560,007$12,966,527▲ $10,406,520
Land, Buildings, and Equipment, Net$7,999,754$7,818,485▼ $181,269
Accounts Receivable$474,200$1,255,560▲ $781,360
Cash and Non-Interest-Bearing Accounts$517,815$444,039▼ $73,776
Prepaid Expenses and Deferred Charges$24,125$0▼ $24,125
Total Assets$12,661,500$23,990,842▲ $11,329,342
Other Assets Total$1,085,599$1,506,231▲ $420,632
Liabilities
Other Liabilities$76,999$8,578,550▲ $8,501,551
Accounts Payable and Accrued Expenses$663,837$1,167,863▲ $504,026
Unsecured Notes Loans Payable$850,000$600,000▼ $250,000
Deferred Revenue$23,770$516,306▲ $492,536
Escrow Account Liability$11,880$14,216▲ $2,336
Total Liabilities$1,626,486$10,876,935▲ $9,250,449
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,035,014$13,113,907▲ $2,078,893
Total Net Assets Fund Balance$11,035,014$13,113,907▲ $2,078,893
Total Liabilities and Net Assets / Fund Balance$12,661,500$23,990,842▲ $11,329,342

Asset Categories

AssetBook ValueDepreciationBasis
Land$4,521,582-$4,521,582
Buildings$3,296,903$1,157,564$4,454,467
Other Assets Org$768,000--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Ashanti BrownChief Operating Officer$132,128$132,128
Eric SmithCNI Community Liaison$132,106$132,106
Ralph StaleyChief Financial Officer$125,797$125,797
Carla WaltonDirector of Administration$120,142$120,142
Denita JohnsonChief Operating Officer$33,846$33,846

Board Members and Trustees

NameTitle
William B ClarkChair
Angela HolmesDirector
Daniel C HudginsDirector
Mayme Webb-bledsoeDirector
Pebbles LucasDirector
Robert Bo GlennDirector
S Nicole DiggsDirector
Torrell ArmstrongDirector
Anthony SnellDirector of Development
Anthony ScottChief Executive Officer
Carl RistCity Liaison
Karen LadoDurham Choice Project Manager
Revenue and Support

Revenue Composition

Contributions and Grants
$3,311,032
Program Service Revenue
$1,346,052
Investment Income
$205,459
Other Revenue
$0
Change in Net Assets
$2,546,682
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,207,106
Salaries, Compensation, and Employee Benefits$108,755
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$263,049--$263,049
Other Expenses$244,119--$244,119
Occupancy$126,418--$126,418
Other Salaries and Wages$71,892--$71,892
Office Expenses-$56,940-$56,940
Other Employee Benefits$36,863--$36,863
Fees for Services Management-$29,633-$29,633
Insurance-$23,091-$23,091
Fees for Services Accounting-$15,335-$15,335
Interest-$3,427-$3,427
Fees for Services Other-$1,772-$1,772
Total Functional Expenses$2,185,663$130,198$0$2,315,861
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prepaid Lease$7,350,707
Investment Liability$1,194,321
Other Liability$33,522
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

The organization has no committees.

Form 990, Part VI, Section B, Line 11B

The cfo reviews the return upon signing. A full copy of the form 990 is shared with the board prior to filing.

Form 990, Part VI, Section B, Line 12C

Officers and key employees are required to annually disclose interests that could give rise to conflict, but board members are not required. The policy was adopted in 2008. The staff has been trained on compliance.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Development Ventures Inc
EIN
56-1461066
Phone
9196831551
Address
423 MORRIS STREET SUITE 200, DURHAM, NC 27701

Signing Officer

Name
Ralph Staley
Title
CFO
Phone
9196831551
Signed
2025-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ralph Staley
Formed
1985
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Novogradac & Company Llp
Address
1144 HOOPER AVENUE SUITE 203, TOMS RIVER, NJ 08753
Preparer
Richard M Larsen
Phone
7326492800
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Transfer of equity 792,002. Distributions -1,447,000.

Financial Statement Notes

PART IV, LINE 2B:

The organization holds tenant security deposits in escrow. These amounts belong to the individual tenants.

Raw XML AppendixShowing 400 of 882 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt11CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR OF DEVELOPMENT
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