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.
Key facts about Dallas Development Fund
- EIN
- 26-4342371
- Latest 990 filing
- Form 990, 2025
- Total assets
- $6,208,168
Data from IRS Form 990, 2025; updated October 2026.
Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$6.2M
+1.5% YoY
Revenue
$709K
-54.4% YoY
Net Investment Income
$34K
+586.3% YoY
Expenses
$478K
-33.7% YoY
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.
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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 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.
Grant Insights
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%).
Giving History
Grant recipients and amounts by year
No grants recorded for 2025.
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grant count |
|---|---|---|---|---|
| 2025 | $6,208,168 | $708,840 | $477,837 | 0 |
| 2024 | $6,114,649 | $1,555,131 | $720,982 | 0 |
| 2023 | $5,575,362 | $602,871 | $569,090 | 0 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $6,208,168 | $6,114,649 | $5,575,362 |
| Revenue | $708,840 | $1,555,131 | $602,871 |
| Expenses | $477,837 | $720,982 | $569,090 |
| Net Investment Income | $34,485 | $5,025 | $5,025 |
Data update history
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
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.
Contact
Mailing address: 1500 Marilla Street 6Dn, Dallas, TX 75201-6318
Phone: (214) 670-1222
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.
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