Valley Community Development Corporation
- Assets
- $13.3m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Northampton, MA
- Founding
- 05/1989
- Data as of
- 06/2022
- EIN
- 22-2906466
Organization Overview
Valley Community Development Corporation is located in Northampton, MA. The organization was established in 1989. According to its NTEE Classification (L30) the organization is classified as: Housing Search Assistance, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Valley Community Development Corporation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley 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 06/2022, Valley Community Development Corporation generated $2.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $2.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 7 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
VALLEY COMMUNITY DEVELOPMENT SEEKS TO EMPOWER LOW- AND MODERATE-INCOME PEOPLE AND UNDERSERVED POPULATIONS. WE ACCOMPLISH THESE GOALS BY FOCUSING ON THREE AREAS OF COMMUNITY DEVELOPMENT: HOMEOWNERSHIP SUPPORT INCLUDING FIRST-TIME HOMEBUYER WORKSHOPS AND FORECLOSURE PREVENTION COUNSELING; CREATING AFFORDABLE HOUSING; AND SMALL BUSINESS DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL PROPERTIES- PROVIDES PERMANENT AFFORDABLE RENTAL HOUSING TO LOW AND MODERATE INCOME AND UNDERSERVED POPULATIONS IN NORTHAMPTON AND AMHERST. ALL CURRENT OWNED RENTAL PROPERTIES WERE DEVELOPED BY VALLEY.
SMALL BUSINESS - PROVIDES SMALL BUSINESS TECHNICAL ASSISTANCE AND WORKSHOPS PRIMARILY TO PEOPLE WITH LOW AND MODERATE INCOMES AND UNDERSERVED POPULATIONS (BIPOC COMMUNITIES, WOMEN, AND VETERANS).
HOUSING DEVELOPMENT- VALLEY CREATES AND PRESERVES AFFORDABLE HOUSING OPPORTUNITIES FOR PEOPLE WITH LOW AND MODERATE INCOMES, UNHOUSED PEOPLE, AND OTHER VULNERABLE POPULATIONS IN HAMPSHIRE AND FRANKLIN COUNTIES.
HOMEOWNERSHIP SUPPORT - ASSISTS FIRST TIME HOME BUYERS WITH PRE AND POST-PURCHASE COUNSELING, FORECLOSURE PREVENTION, AND FINANCIAL LITERACY COUNSELING THROUGH WORKSHOPS AND ONE TO ONE SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Abbott Treasurer | OfficerTrustee | 1 | $0 |
Pat Byrnes Clerk | OfficerTrustee | 1 | $0 |
Madeline Weaver Blanchette President | OfficerTrustee | 1 | $0 |
Kim Alston Vice President | OfficerTrustee | 1 | $0 |
Alexis Breiteneicher Executive Director | Officer | 37.5 | $0 |
Liz Sullivan Fiscal Director | Officer | 37.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $84,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $508,393 |
| All other contributions, gifts, grants, and similar amounts not included above | $295,170 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $887,563 |
| Total Program Service Revenue | $164,114 |
| Investment income | $2,162 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $774,604 |
| 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 | $2,066,960 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| 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. | $57,116 |
| Compensation of current officers, directors, key employees. | $24,296 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $399,910 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $111,960 |
| Payroll taxes | $0 |
| Fees for services: Management | $47,184 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $139,937 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $223,437 |
| Advertising and promotion | $5,233 |
| Office expenses | $32,965 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,896 |
| Travel | $3,954 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $254,267 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $348,485 |
| Insurance | $62,175 |
| All other expenses | $115,626 |
| Total functional expenses | $2,356,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,880 |
| Savings and temporary cash investments | $1,278,498 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $73,407 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,865,596 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $27,154 |
| Net Land, buildings, and equipment | $4,614,746 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,355,615 |
| Total assets | $13,299,896 |
| Accounts payable and accrued expenses | $535,145 |
| 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 | $9,458,275 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $60,877 |
| Total liabilities | $10,054,297 |
| Net assets without donor restrictions | -$1,016,642 |
| Net assets with donor restrictions | $4,262,241 |
| 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 | $13,299,896 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Valley Community Development Corporation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Easthampton Savings Foundation Easthampton, MA PURPOSE: EXEMPT PURPOSE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Valley Community Development Corporation Northampton, MA | $13,299,896 | $2,066,960 |
New York Mortgage Coalition Inc New York, NY | $2,919,874 | $1,089,367 |
Brookline Improvement Coalition Inc Brookline, MA | $2,013,403 | $296,143 |
Homeward Bound Program Bronx, NY | $0 | $149,877 |
Chi Reality Inc White Plains, NY | $50,485 | $0 |
Flipping For Charities Inc Somerset, MA | $136,896 | $0 |
Housing Partners Of New York Inc Brooklyn, NY | $354,229 | $0 |
Wellness Transitional Living Inc Valley Cottage, NY | $0 | $0 |
Union Neighborhood Assistance Corporation Boston, MA | $1,706,851 | $11,058 |
All Borough Solutions Inc Brooklyn, NY | $0 | $0 |
Antonetta Sacro Foundation Everett, MA | $499,055 | $0 |