Premier Community Development Corporation
- Assets
- $557.2k
- Revenue
- $37.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Plainfield, NJ
- Founding
- 06/2008
- Data as of
- 12/2022
- EIN
- 20-8296546
Organization Overview
Premier Community Development Corporation is located in Plainfield, NJ. The organization was established in 2008. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Premier Community Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Premier Community Development Corporation generated $37.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (14.9%) each year. All expenses for the organization totaled $55.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (15.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PLAINFIELD COMMUNITY DEVELOPMENT CORPORATION (PCDC) IS AN AFFILIATE OF THE HOUSING AUTHORITY OF PLAINFIELD WORKING IN CONJUNCTION WITH THE CITY OF PLAINFIELD TO IMPROVE NEIGHBORHOODS FOR LOCAL RESIDENTS. PCDC FOCUSES ON THE DEVELOPMENT AND REHABILITATION OF QUALITY HOUSING FOR THE IMPROVEMENT OF FAMILY LIVES IN URBAN COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE QUALITY AFFORDABLE HOUSING FOR MODERATE AND LOW INCOME FAMILIES LIVING IN THE CITY OF PLAINFIELD AND SURROUNDING URBAN AREAS. INCOME LIMITATIONS AND DEFINITIONS ESTABLISHED BY HUD GUIDELINES BY COUNTY. A PERSON IS CONSIDERED TO BE OF LOW INCOME ONLY IF HE OR SHE IS A MEMBER OF A HOUSEHOLD WHOSE INCOME WOULD QUALIFY AS "VERY LOW INCOME" UNDER THE SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM. GENERALLY, THESE SECTION 8 LIMITS ARE BASED ON 50% OF AREA MEDIAN. SIMILARLY,MODERATE INCOME RELIES ON SECTION 8 "LOWER INCOME" LIMITS, WHICH ARE GENERALLY TIED TO 80% OF AREA MEDIAN. PROVIDE HOMEBUYER ASSISTANCE IN THE PURCHASE OF PROPERTY DEVELOPED FOR MODERATE AND LOW INCOME FAMILIES.
ORGANIZATION HAS SEVERAL COMMUNITY AND YOUTH INITIATIVES TO PROVIDES PROGRAMS, ACTIVITIES AND SERVICES THAT PROMOTE BOTH A POSITIVE, HEALTHY COMMUNITY AND DEVELOP HEALTHY, CAPABLE YOUNG PEOPLE AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Georgette Barnes Executive Di | Trustee | 2 | $1,050 |
Peter Briggs Vice-Chairpe | Trustee | 1 | $0 |
George B Gore Director | Trustee | 1 | $0 |
Kim Montford Director | Trustee | 1 | $0 |
Hattie Williams Director | Trustee | 1 | $0 |
Randall Wood Chairperson | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $5,525 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $439 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,964 |
| Total Program Service Revenue | $31,202 |
| Investment income | $318 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,484 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,050 |
| Compensation of current officers, directors, key employees. | $6,050 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $35 |
| Fees for services: Management | $20,000 |
| Fees for services: Legal | $175 |
| Fees for services: Accounting | $9,295 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,360 |
| Advertising and promotion | $260 |
| Office expenses | $675 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,637 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,008 |
| All other expenses | $19 |
| Total functional expenses | $55,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $155,936 |
| Savings and temporary cash investments | $107,104 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $282,116 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,028 |
| Total assets | $557,184 |
| Accounts payable and accrued expenses | $9,597 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | -$182 |
| Total liabilities | $9,415 |
| Net assets without donor restrictions | $547,769 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $557,184 |