Lower Cape Cod Community Development Corporation
- Assets
- $11.2m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 24
- Location
- Orleans, MA
- Founding
- 08/1994
- Data as of
- 06/2023
- EIN
- 22-3191450
Organization Overview
Lower Cape Cod Community Development Corporation, operating under the name Community Development Partnership, is located in Orleans, MA. The organization was established in 1994. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 06/2023, Community Development Partnership employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Development Partnership 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 06/2023, Community Development Partnership generated $3.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $3.5m during the year ending 06/2023. While expenses have increased by 1.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO NURTURE A VIBRANT LOWER CAPE REGION BY PROMOTING ENVIRONMENTAL AND ECONOMIC SUSTAINABILITY, EXPANDING OPPORTUNITIES FOR LOW-AND MODERATE- INCOME RESIDENTS, AND PRESERVING OUR UNIQUE CULTURAL AND HISTORIC CHARACTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING ADVOCACY PROGRAM TO WORK WITH TOWNS ON THE LOWER CAPE TO CREATE MORE OPPORTUNITIES FOR AFFORDABLE HOUSING FOR YEAR ROUND RESIDENTS AND A FIRST TIME HOMEBUYERS PROGRAM TO PROVIDE EDUCATION TO YEAR ROUND RESIDENTS AT OR BELOW 80% OF MEDIUM INCOME.
OTHER HOUSING PROGRAMS
HOUSING RENTAL PROGRAMS - MANAGES 72 AFFORDABLE RENTAL HOMES ACROSS LOWER CAPE COD, INCLUDING STUDIOS TO 3 BEDROOMS, STAND-ALONES TO MULTI-FAMILY PROVIDING HOUSING FOR 140 PEOPLE. ADDITIONALLY, THE PROGRAM MANAGES 28 UNITS OF MARKET RATE (NOT AFFORDABLE UNITS) STUDIOS TO THREE BEDROOM. PROVIDING HOUSING FOR 54 PEOPLE.
BUSINESS DEVELOPMENT - PROVIDING ACCESS TO CAPITAL THROUGH MICRO LOANS, OFFERING ONE-ON-ONE GUIDANCE AND EDUCATIONAL WORKSHOPS AND SUPPORTING LOCAL FISHING/SHELLFISHING BUSINESSES WITH EXPERTISE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Boyce Cfao | 37.5 | $119,846 | |
Jay Coburn CEO | Officer | 37.5 | $155,297 |
Steve Cole Board Chair | OfficerTrustee | 4 | $0 |
Carole Ridley Vice Chair | OfficerTrustee | 4 | $0 |
Paul Ruchinskas Treasurer | OfficerTrustee | 4 | $0 |
Jennifer Cusack Clerk | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ferullo Remodeling Inc Construction | 6/29/18 | $367,214 |
Dba Act Remodeling & Contsruction Construction | 6/29/18 | $100,008 |
Cedar Crest Properties Contruction | 6/29/18 | $330,492 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,450,302 |
| All other contributions, gifts, grants, and similar amounts not included above | $756,183 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,206,485 |
| Total Program Service Revenue | $1,526,819 |
| Investment income | $576 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $198,894 |
| Net Income from Fundraising Events | $1,928 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,934,702 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,385,503 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $254,507 |
| Payroll taxes | $114,972 |
| Fees for services: Management | $38,280 |
| Fees for services: Legal | $8,450 |
| Fees for services: Accounting | $58,508 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $70,401 |
| Advertising and promotion | $37,668 |
| Office expenses | $92,734 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $157,181 |
| Travel | $14,231 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $137,899 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $377,327 |
| Insurance | $81,611 |
| All other expenses | $4,140 |
| Total functional expenses | $3,508,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,805,232 |
| Savings and temporary cash investments | $208,914 |
| Pledges and grants receivable | $295,736 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $421,212 |
| Inventories for sale or use | $513,946 |
| Prepaid expenses and deferred charges | $81,773 |
| Net Land, buildings, and equipment | $5,815,105 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,794 |
| Total assets | $11,176,712 |
| Accounts payable and accrued expenses | $261,934 |
| Grants payable | $0 |
| Deferred revenue | $78,977 |
| 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 | $7,464,745 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $61,017 |
| Total liabilities | $7,866,673 |
| Net assets without donor restrictions | $2,497,781 |
| Net assets with donor restrictions | $812,258 |
| 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 | $11,176,712 |