Dallas Development Fund
Dallas Development Fund (DDF) is a Dallas, Texas–based public charity and nonprofit Community Development Entity affiliated with the City of Dallas Office of Economic Development. Created by the Dallas City Council in 2009, it administers New Markets Tax Credit (NMTC) allocations to help finance real estate, business expansion, and social service projects in traditionally underserved communities.
Dallas Development Fund at a glance
- Total assets
- $6,208,168
- +1.5% vs 2024
- Revenue (2025)
- $708,840
- -54.4% vs 2024
- Net investment income (2025)
- $34,485
- +586.3% vs 2024
- Expenses (2025)
- $477,837
- -33.7% vs 2024
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated October 2026.
How to apply to Dallas Development Fund
- Contact
Mailing address: 1500 Marilla Street 6Dn, Dallas, TX 75201-6318
Phone: (214) 670-1222
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Dallas Development Fund funds
How this funder distributes its grants
Grant Size Distribution
401 grants across all recorded years
The most common grant size was under $50K: 401 grants of 401 (100%).
Geographic Focus
Where this funder awards grants
DDF’s NMTC program supports projects in traditionally underserved communities, and its filing describes investment in low-income communities, particularly in southern Dallas. The Healthy Food Dallas Initiative guidelines describe support for projects in eligible food desert census tracts across Dallas.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2021, annual grant giving ranged from $898K (2020) to $5.3M (2021). In 2021 it made 401 grants totaling $5.3M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Tiny Industries LLC | Covid-19 Relief | $15,000 |
| Cadilac Law PLLC | Covid-19 Relief | $15,000 |
| Dah Lee Hong Corporation DBA Skyline Motorsport | Covid-19 Relief | $15,000 |
| Healthstar Medical Services Inc DBA Ahealthstar Homecare Agency | Covid-19 Relief | $15,000 |
| Sai Hospitality Inc | Covid-19 Relief | $15,000 |
| Data and Products Management Services Inc | Covid-19 Relief | $15,000 |
| Cfit BLW LLC DBA Crossfit White Rock | Covid-19 Relief | $15,000 |
| Pace and Ross Learning Center | Covid-19 Relief | $15,000 |
| Eat LLC DBA Neuhaus Cafe | Covid-19 Relief | $15,000 |
| Pink Toes Nail Bar & Spa LLC | Covid-19 Relief | $15,000 |
Ready to take the next step with Dallas Development Fund?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $6,208,168 | $708,840 | $477,837 | — | — | $34,485 |
| 2024 | $6,114,649 | $1,555,131 | $720,982 | — | — | $5,025 |
| 2023 | $5,575,362 | $602,871 | $569,090 | — | — | $5,025 |
| 2022 | $5,780,682 | $429,576 | $867,494 | — | — | $5,016 |
| 2021 | $6,293,260 | $6,735,720 | $6,397,785 | $5,256,500 | 401 | $5,000 |
| 2020 | $5,766,274 | $2,329,222 | $1,781,544 | $898,300 | 93 | $5,112 |
| 2019 | $4,227,137 | $1,461,701 | $539,930 | — | — | $4,049 |
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
DDF’s stated mission is to assist the City of Dallas in carrying out its economic development objectives by generating private investment capital through NMTC for low-income communities. Its financing products may include below-market interest rates, higher-than-typical loan-to-value ratios, or equity.
The 2024 impact report describes projects supported through NMTC, including community facilities and health and social service projects. The organizations involved described their work as serving South Dallas residents through YMCA services, providing substance use disorder recovery services for women and children, and delivering health services to LGBTQIA+ clients. DDF also operates the Healthy Food Dallas Initiative, which provides flexible matching financing to nonprofits seeking to increase food access in underserved Dallas communities.
Grantmaking
DDF’s primary financing activity is through NMTC allocations, rather than grants reported on its IRS filings. Those filings list zero grants for 2023, 2024, and 2025. Separately, DDF’s 2024 impact report says its Healthy Food Dallas Initiative disbursed close to $100,000 to several nonprofit organizations that year. In 2023, the initiative had committed more than $575,000 to 12 nonprofit organizations by year-end.
The 2024 impact report highlights three NMTC allocations of $7 million each: to the YMCA of Metropolitan Dallas for a new community facility, to Nexus Family Recovery Center for a medical building, and to Resource Center for a health campus. These are NMTC allocations, not reported grants. The report also describes a $750,000 subordinate loan through DDF’s Community Development Revolving Loan Program to support redevelopment of the Shops at Redbird.
DDF’s website states that it received six NMTC allocations, totaling $295 million, for calendar-year cycles 2009, 2012, 2014, 2017, 2021, and 2025. The website identifies the December 2025 allocation as $55 million and says DDF is accepting projects under its call for projects related to that allocation. The 2020 Healthy Food Dallas Community-Based Solutions guidelines describe eligibility for nonprofit entities with a Dallas service area and community support for the proposed solution; they set a program-wide maximum of $250,000 and individual awards of up to $70,000. Those guidelines describe a past program document, not a current application cycle.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Drexell Owusu as president and director. It also lists Dora Zapata, Michael Horne, Nadia Salibi, Santiago Bello, Sheridan Nixon, and Terry Kittleson as directors; Nadia Salibi is additionally listed as vice president. Heather Lepeska is listed as secretary.
The 2024 filing states that the City Manager appoints Class I governing board members, subject to City Council confirmation, and that Class II members are elected by the board.
Dallas Development Fund is led by Drexell Owusu, President & Director since 2025 (on filings since 2023); none of the 8 officers listed in 2025 report compensation.
Officers on the 2025 filing
Drexell Owusu
President & Director
Director & Treasurer → Treasurer, 2024
Treasurer → President & Director, 2025
On filings since 2023
1 hr/week
No compensation reported
Dora Zapata
Director
On filings since 2019
0.5 hrs/week
No compensation reported
Nadia Salibi
Director & Vice President
Director → Director & Vice President, 2023
On filings since 2022
0.5 hrs/week
No compensation reported
Sheridan Nixon
Director
On filings since 2022
0.5 hrs/week
No compensation reported
Michael Horne
Director
On filings since 2024
0.5 hrs/week
No compensation reported
Santiago Bello
Director
On filings since 2024
0.5 hrs/week
No compensation reported
Terry Kittleson
Director
On filings since 2024
0.5 hrs/week
No compensation reported
Heather Lepeska
Secretary
Director → Secretary, 2020
On filings since 2019
16 hrs/week
No compensation reported
Former officers (7)
- Former: Edward Okpa (2019–2024) — Outgoing Director
- Former: Gilbert Gerst (2019–2024) — Outgoing President & Director
- Former: Brentt Shropshire (2019–2022) — Vice President & Director
- Former: Zenetta Drew (2019–2022) — Treasurer & Director
- Former: Benjamin Salazar (2019–2021) — Director
- Former: Valerie Hawthorne (2019–2021) — Director
- Former: Dora Ramirez (2020–2021) — Director
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Dallas Development Fund
How large is Dallas Development Fund?
Dallas Development Fund reported $6.2M in total assets on its 2025 IRS Form 990. Its revenue that year was $709K.
What does Dallas Development Fund fund?
DDF’s stated mission is to assist the City of Dallas in carrying out its economic development objectives by generating private investment capital through NMTC for low-income communities. See mission & focus areas ↑
How do I apply for a grant from Dallas Development Fund?
Dallas Development Fund has no public application process in the sources Grantable reviewed. Contact the foundation directly before submitting a request.
Where does Dallas Development Fund make grants?
DDF’s NMTC program supports projects in traditionally underserved communities, and its filing describes investment in low-income communities, particularly in southern Dallas. The Healthy Food Dallas Initiative guidelines describe support for projects in eligible food desert census tracts across Dallas.
What is Dallas Development Fund's EIN?
Dallas Development Fund's EIN (Employer Identification Number) is 26-4342371. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated October 2026.
Data update history
(5)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS June 21, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS June 17, 2022)
- Added Form 990 for fiscal year 2019 (received by the IRS May 5, 2020)
- Added Form 990 for fiscal year 2025 (received by the IRS August 12, 2026)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Dallas Development Fund funds
Health Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Dallas Development Fund's focus areas in our free grants database
Similar Funders
Funders with grantees in common
Cadence Bank Foundation
Tupelo, MS
Cadence Bank Foundation supports 501(c) organizations, with reported grants going to recipients in Mississippi. Its 2024 filing listed $2,006,035 in giving, but did not break that amount into individual grants, so a typical grant size isn’t stated. It accepts requests by letter and reviews them quarterly.
Assets
$43.2M
Grants
1
Total Given
$2.0M
Asian & Pacific Islander American
Washington, DC
To empower asian American and pacific islander (AAPI) and all small business owners and entrepreneurs by providing access to valuable resources, support networks, and funding opportunities. Our mission is to connect these business owners with the capital and tools needed to overcome growth challenges and achieve success, fostering a thriving community of innovative and resilient enterprises.
Assets
$1.7M
Grants
1
Total Given
$15K
Comerica Charitable Foundation
Cincinnati, OH
The Comerica Charitable Foundation supports economic and community development, education, human services, and equity, primarily through regional, state, and local organizations in Texas, Michigan, California, Arizona, and Florida. In 2025, its four grants ranged from $5,000 to $3,364,120, with a median of $142,250. It funds only preselected organizations and does not accept unsolicited requests.
Assets
$2.9M
Grants
4
Total Given
$3.7M
Great Rivers Community Trust
Zebulon, NC
Great Rivers Community Trust funds nonprofit CDFIs that provide technical assistance and small-business loans, especially to underserved entrepreneurs and borrowers who lack access to traditional bank credit. Its 2025 grants ranged from $5,302 to $195,701, with a median of $32,694, and went to organizations in multiple states; the profile does not state whether it accepts unsolicited requests.
Assets
$39.1M
Grants
12
Total Given
$677K
Association of Women's Business Centers
Washington, DC
The Association of Women’s Business Centers funds capacity-building and sustainability for Women’s Business Centers, including work related to digital business resources, skills training, and access to capital. Its 2024 grants ranged from $8,125 to $47,458, with a median of $15,000, supporting organizations across the United States. It does not state whether it accepts unsolicited requests.
Assets
$1.2M
Grants
17
Total Given
$342K
Texas Bankers Foundation
Austin, TX
The Texas Bankers Foundation funds banking and finance scholarships, financial education, disaster relief, and community initiatives, with most giving in Texas. Recent grants ranged from $1,000 to $25,000, with a median of $2,500; it offers specific scholarship and bank-applied programs, but does not state whether it accepts unsolicited requests.
Assets
$378K
Grants
19
Total Given
$87K
More similar funders
More Funders in Texas
The filing figures on this page are open data under CC BY 4.0. About GrantGraph Open
Figures come from Dallas Development Fund's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
Dallas Development Fund down — hundreds of funders to go?