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Mosaic Development Group Inc

EIN 56-0883684 · Davidson, NC

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood81 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • Raising each dollar of donations cost 113 cents.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

TO ENHANCE COMMUNITIES AND IMPROVE LIVES THROUGH DIVERSE HOUSING AND ECONOMIC DEVELOPMENT SOLUTIONS. MOSAIC BELIEVES THAT HIGH QUALITY HOUSING FOR A VARIETY OF INCOMES IS A CATALYST FOR VIBRANT, HEALTHY COMMUNITIES. THEIR VISION IS THAT EVERYONE HAS ACCESS TO HIGH QUALITY HOUSING, IN THRIVING COMMUNITIES THAT OFFER A VARIETY OF JOBS AND SERVICES.

Income
$3.4 million
Spending
$2.5 million
Spent on programs
93%
Reserves
43.5 months of spending
Largest source of income
fees for its services, 58%
Employees
8
Volunteers
11
Highest pay
$214,412, executive director

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 81 out of 100.

  • Reserves

    35 of 35

    Spendable reserves would cover 43.5 months of spending.

  • Debt

    16 of 20

    It owes 26% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 27% of income.

  • Income trend

    15 of 15

    Income rose 30% on the year before.

  • Spending floor

    0 of 15

    93% of spending went to programs and raising each dollar of donations cost 113 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100.

  • Independent board

    25 of 25

    11 of 11 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (2)
  1. $1.0 million spent. FERNHILL APARTMENTS (CONOVER, NC - 72 FAMILY UNITS) WAS COMPLETED, PLACED IN SERVICE, AND STABILIZED DURING THE YEAR. THE PROPERTY TRANSITIONED TO NORMAL OPERATIONS, PROVIDING HIGH-QUALITY, AFFORDABLE HOUSING FOR WORKING FAMILIES IN THE REGION. MOSAIC HOLDS BOTH DIRECT AND INDIRECT GENERAL PARTNER INTERESTS AND CONTINUES TO EXERCISE SIGNIFICANT INFLUENCE OVER THE PROJECT'S OPERATIONS. ORCHARD POINT APARTMENTS (SANFORD, NC - 40 FAMILY UNITS), A COMPREHENSIVE REHABILITATION OF THE FORMER APPLE TREE APARTMENTS, COMMENCED CONSTRUCTION IN 2024 FOLLOWING THE PRIOR YEAR'S AWARD OF LOW-INCOME HOUSING TAX CREDITS (LIHTC). COMPLETION IS ANTICIPATED IN MID-2025. 902 S. BRIGGS AVENUE APARTMENTS (DURHAM, NC - 124 FAMILY UNITS) ADVANCED THROUGH THE LIHTC APPLICATION PROCESS. AT THE REQUEST OF THE NORTH CAROLINA HOUSING FINANCE AGENCY (NCHFA), MOSAIC RESUBMITTED ITS 4% TAX-EXEMPT BOND APPLICATION IN THE FALL 2024 ROUND, WITH AN AWARD EXPECTED IN 2025. RENAISSANCE COMMONS (ELIZABETH CITY, NC - 48 SENIOR UNITS) RECEIVED AN AWARD OF 9% LOW-INCOME HOUSING TAX CREDITS IN 2024 FOR A COMPREHENSIVE REHABILITATION OF THE EXISTING PROPERTY. CONSTRUCTION IS ANTICIPATED TO COMMENCE IN 2025, PRESERVING AFFORDABLE HOUSING FOR SENIORS IN THE REGION.
  2. $1.3 million spent. IN RECOGNITION OF THE GROWING NEED FOR AFFORDABLE HOUSING THROUGHOUT NORTH CAROLINA, MOSAIC INITIATED A STRATEGIC RECAPITALIZATION TO STRENGTHEN ITS ABILITY TO EXPAND ITS DEVELOPMENT PIPELINE. AS PART OF THIS EFFORT, MOSAIC SOLD FIVE SITES FROM ITS 23-PROPERTY PORTFOLIO TO AN INVESTOR COMMITTED TO PRESERVING THEIR LONG-TERM AFFORDABILITY. FOUR OF THE FIVE TRANSACTIONS SUCCESSFULLY CLOSED IN 2024, WITH THE FIFTH EXPECTED TO CLOSE IN 2025. THESE ACTIONS REFLECT MOSAIC'S ONGOING COMMITMENT TO EXPANDING AND PRESERVING AFFORDABLE HOUSING OPPORTUNITIES FOR NORTH CAROLINA HOUSEHOLDS WHILE MAINTAINING PRUDENT FINANCIAL STEWARDSHIP AND STRONG PARTNERSHIPS WITH PUBLIC AND PRIVATE STAKEHOLDERS.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since May 1969.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.