Restoration Of Petersburg Community Development Corporation
- Assets
- $592.5k
- Revenue
- $265.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Petersburg, VA
- Founding
- 07/1999
- Data as of
- 12/2021
- EIN
- 31-1639517
Organization Overview
Restoration Of Petersburg Community Development Corporation is located in Petersburg, VA. The organization was established in 1999. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Restoration Of Petersburg 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 12/2021, Restoration Of Petersburg Community Development Corporation generated $265.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $211.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.3%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF ROPCDC IS: TO REDEVELOP & REVITALIZE THE HUMAN & PHYSICAL CAPITAL OF THE HALIFAX COMMUNITY OF PETERSBURG, VA THROUGH HOUSING RENTALS, HOUSING DEVELOPMENT, ECONOMIC DEVELOPMENT, EMPLOYMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE LITTLE ANGELS CHILDCARE CENTER, A WORLD-CLASS CHILDCARE & LEARNING CENTER, SERVING CHILDREN RANGING IN AGE FROM 2 1/2 TO 5 YEARS. ENROLLMENT AT 12/31/2021 IS 15 CHILDREN (FULL TIME, PART TIME & AFTER SCHOOL CARE) WITH A STAFF OF 7, INCLUDING 1 DIRECTOR.
ACQUISITION AND MAINTENANCE COSTS RELATED TO THE PURCHASE OF LAND WITHIN THE HALIFAX COMMUNITY OF PETERSBURG, VIRGINIA (TAXES, REPAIRS & MAINTENANCE, UTILITIES)
ROPCDC ENTERED INTO AN AGREEMENT WITH BETTER HOUSING COALITION OF PETERSBURG TO DEVELOP CLAIBORNE SQUARE, A SENIOR HOUSING/LIVING FACILITY IN THE HALIFAX COMMUNITY. THE PROJECT IS BUILT ON LAND OWNED BY ROPCDC. BHC ADVANCED $250,000 IN THE FORM OF A NOTE RECEIVABLE TO ROPCDC RELATED TO A GROUND LEASE OF THIS LAND. THE NOTE IS STATED AT THE PRESENT VALUE OF THE ESTIMATED FAIR VALUE OF RENT, DISCOUNTED AT 4.64%, AND WILL BE AMORTIZED AS RENT INCOME ON A STRAIGHT-LINE BASIS OVER 75 YEARS. DEFERRED RENT IS $224,246, NET, AT 12/31/2021 AND RENTAL INCOME IS $12,000 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shauna Mayo Chair | OfficerTrustee | 4 | $0 |
Jeanne Holmes Treasurer | OfficerTrustee | 2 | $0 |
Demarius Johnson Secretary | Trustee | 1 | $0 |
Javan Jefferson Board Member | Trustee | 0.25 | $0 |
Treva Gordon Board Member | Trustee | 0.25 | $0 |
Cortez Dial Board Member | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $81,603 |
| Noncash contributions included in lines 1a–1f | $36,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $81,603 |
| Total Program Service Revenue | $163,975 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,150 |
| 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 | $265,753 |
| 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 | $92,293 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,100 |
| Payroll taxes | $5,715 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,390 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $36,000 |
| 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 | $16,155 |
| Insurance | $2,019 |
| All other expenses | $45,828 |
| Total functional expenses | $211,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,014 |
| Savings and temporary cash investments | $0 |
| 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 | $248,715 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $932 |
| Net Land, buildings, and equipment | $242,762 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $100 |
| Total assets | $592,523 |
| Accounts payable and accrued expenses | -$6,736 |
| Grants payable | $0 |
| Deferred revenue | $222,224 |
| 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 | $260,216 |
| Total liabilities | $475,704 |
| Net assets without donor restrictions | -$31,561 |
| Net assets with donor restrictions | $148,380 |
| 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 | $592,523 |
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