North Carolina · Nonprofit
MOSAIC DEVELOPMENT GROUP
MOSAIC DEVELOPMENT GROUP (North Carolina) receives grants from 3 organizations whose IRS filings report $263,379 to it, the largest being The Bank of America Charitable Foundation Inc ($130,000). 2 of them have funded it in more than one year.
- Revenue FY2024
- $3.4M
- Funders on record
- 3
- Grants received
- $263k
- Net assets
- $10M
What Mosaic Development Group does
Mission
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.
As stated on its FY2024 Form 990.
Programs
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…
$1,036,681 spent$971,260 earned by the program45% of program spendingIn 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.
$1,263,418 spent$1,031,472 earned by the program55% of program spending
The 2 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $2,300,099.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2018 to 2019, from $4.5M to $13M (+190%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2017 21% · 2018 41% · 2019 15% · 2020 1% · 2021 16% · 2022 16%. Grants only. Government contracts and fees sit inside program revenue.
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 1 of the last 8 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
William Bolstad
Executive director
Board chair
Cari Jones
Board chair
As listed on its FY2024 Form 990.
The chief executive listed changed between the FY2020 and FY2021 filings.
Who funds it, year by year
2017 → 2021: the base broadened from 2 funders to 3 funders, grant income rose $26k → $77k.
From the IRS filings of MOSAIC DEVELOPMENT GROUP’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
MOSAIC DEVELOPMENT GROUP leans on a few funders — its largest provides 49% of grant income and the top three 100%; half comes from just 2 funders.
the vertical line marks half of all grant income — 2 funders to its left
47% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund MOSAIC DEVELOPMENT GROUP.
Largest funder’s share by year: 2017 61% · 2018 58% · 2019 59% · 2020 100% · 2021 68% — growing more concentrated.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Where its funders are
MOSAIC DEVELOPMENT GROUP draws 51% of its grant income from funders outside North Carolina, across 3 states in all.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Organizations like MOSAIC DEVELOPMENT GROUP
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In North Carolina
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
93% of spending goes to programs.
Governance
Public support
71%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Part of a family of 33 related entities
- Apple Tree of Sanford LLC · disregarded
- Briggs Avenue Manager LLC · disregarded
- Briggs Avenue LLC · disregarded
- Grandview Ridge LLC · disregarded
- Holly Haven LLC · disregarded
Screen this organization
A dated, signed PDF of the compliance screen for MOSAIC DEVELOPMENT GROUP: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds MOSAIC DEVELOPMENT GROUP?
- MOSAIC DEVELOPMENT GROUP (North Carolina) receives grants from 3 organizations whose IRS filings report $263,379 to it, the largest being The Bank of America Charitable Foundation Inc ($130,000). 2 of them have funded it in more than one year.
- How many funders does MOSAIC DEVELOPMENT GROUP have?
- IRS filings report 3 organizations giving $263,379 in grants to MOSAIC DEVELOPMENT GROUP, 2 of which have funded it in more than one year.
- Who is the largest funder of MOSAIC DEVELOPMENT GROUP?
- The Bank of America Charitable Foundation Inc is the largest funder on record, with $130,000 in grants. The full list of funders is on this page.
- How can an organization like MOSAIC DEVELOPMENT GROUP find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in North Carolina. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds Mosaic Development Group →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2024 (financials across 2017–2024), and the filings of 3 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing