Washington County Community Development Corporation
- Assets
- $6.8m
- Revenue
- $202.6k
- Investments
- $0.0
- Employees
- 1
- Location
- Wakefield, RI
- Founding
- 01/2007
- Data as of
- 09/2021
- EIN
- 32-0156535
Organization Overview
Washington County Community Development Corporation is located in Wakefield, RI. The organization was established in 2007. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington County 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 09/2021, Washington County Community Development Corporation generated $202.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (18.0%) each year. All expenses for the organization totaled $298.0k during the year ending 09/2021. 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
DEVELOPMENT AND MANAGEMENT OF AFFORDABLE HOUSING AND CDBG GRANT MANAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEASED MANAGING CDBG PROGRAM FOR 9 MUNICIPALITIES; PROPERTY MANAGMENT; DEVELOPMENT OF 43 UNIT AFFORDABLE HOUSING CONSTRUCTION; STARTED & COMPLETED RENOVATION OF 3 FAMILY AFFORDABLE DWELLING AT 215 SHANNOCK VILLAGE ROAD
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wiliam Dilibero Executive Director | Officer | 40 | $60,000 |
Charles Vernon President | Trustee | 5 | $0 |
Christopher Sheehan Vice President | Trustee | 5 | $0 |
Nicole Lafontaine Secretary | Trustee | 5 | $0 |
Richard Levy Board Member | Trustee | 5 | $0 |
April Welshman Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $131,086 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $132,086 |
| Total Program Service Revenue | $152,461 |
| Investment income | $9,835 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$91,768 |
| 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 | $202,614 |
| 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 | $60,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,500 |
| Payroll taxes | $7,810 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,720 |
| Advertising and promotion | $0 |
| Office expenses | $3,073 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,549 |
| Travel | $1,876 |
| 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 | $103,371 |
| Insurance | $2,164 |
| All other expenses | $56,187 |
| Total functional expenses | $297,950 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,211 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,958 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $361,990 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,815,255 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,437,803 |
| Intangible assets | $13,160 |
| Other assets | $450 |
| Total assets | $6,800,827 |
| Accounts payable and accrued expenses | $3,140 |
| 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 | $1,683,296 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,710 |
| Total liabilities | $1,705,146 |
| Net assets without donor restrictions | $5,095,681 |
| 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 | $6,800,827 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Washington County Community Development Corporation has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Bowdoin Apartments Corp Malden, MA PURPOSE: PROGRAM SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Housing Assistance Corporation Hyannis, MA | $20,544,372 | $36,246,807 |
Neville Communities Home Inc Cambridge, MA | $11,055,368 | $17,412,264 |
Affordable Housing And Services Collaborative Inc Braintree, MA | $170,389,416 | $17,704,653 |
Fairhaven Healthcare Center Inc Lowell, MA | $23,711,383 | $11,897,110 |
National Affordable Housing Foundation Schenectady Inc Waltham, MA | $11,290,760 | $3,782,521 |
Neighborhood Of Affordable Housing Inc East Boston, MA | $27,971,204 | $13,300,567 |
Inquilinos Boricuas En Accion Inc Boston, MA | $173,108,948 | $16,934,744 |
Milton-Fuller Housing Corporation Milton, MA | $76,615,525 | $9,254,138 |
Owl Tallahassee Housing Inc Boston, MA | $28,680,052 | $6,023,225 |
Hearth Inc Boston, MA | $12,790,165 | $7,949,326 |
Springhouse Inc Boston, MA | $37,736,932 | $9,492,146 |
The Neighborhood Developers Inc Chelsea, MA | $68,146,151 | $7,961,454 |