Phoenix Community Development And Investment Corporation
- Assets
- $39.3m
- Revenue
- $3.8m
- Investments
- $10.0m
- Employees
- 0
- Location
- Phoenix, AZ
- Founding
- 01/2006
- Data as of
- 12/2023
- EIN
- 35-2175243
Organization Overview
Phoenix Community Development And Investment Corporation is located in Phoenix, AZ. The organization was established in 2006. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic 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. Phoenix Community Development And Investment 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 12/2023, Phoenix Community Development And Investment Corporation generated $3.8m 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 (13.8%) each year. All expenses for the organization totaled $2.0m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Phoenix Community Development And Investment Corporation has awarded 114 individual grants totaling $7,290,988. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ALLEVIATE POVERTY AND COMBAT COMMUNITY DETERIORATION THROUGH SERVING OR PROVIDING INVESTMENT CAPITAL FOR QUALIFIED LOW-INCOME COMMUNITIES THROUGH COMMUNITY DEVELOPMENT ENTITIES IN ACCORDANCE WITH INTERNAL REVENUE CODE SECTION 45D AND THE TREASURY REGULATIONS THEREUNDER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW MARKETS TAX CREDIT LOAN PROGRAM - TO ATTRACT AND PROVIDE FUNDS FOR PROJECTS THAT WILL IMPROVE THE QUALITY OF LIFE OF THOSE INDIVIDUALS WHO LIVE AND WORK IN UNDERSERVED AREAS OF THE COMMUNITY.
NON-NEW MARKETS SMALL BUSINESS LOANS TO BUSINESSES THAT WOULD NOT QUALIFY FOR TRADITIONAL LENDING, DESIGNED TO ASSIST IN THOSE COMMUNITIES THAT WE SERVE.
COLLEGE AND UNIVERSITY SCHOLARSHIP GRANTS FOR TUITION AND OTHER COSTS ARE AWARDED FOR UP TO 4 YEARS TO PRIMARILY LMI STUDENTS, A MAJORITY OF WHOM ARE FIRST-GENERATION COLLEGE STUDENTS. ADDITIONALLY, PCDIC PROVIDED COVID-19 FINANCIAL RELIEF GRANTS TO SMALL BUSINESSES AND NONPROFITS IN LMI AREAS OF MARICOPA COUNTY, AS WELL AS GRANTS TO LOCAL NONPROFITS FOR PROJECTS IN LMI AREAS SUPPORTING AFFORDABLE HOUSING, COMMUNITY/ECONOMIC DEVELOPMENT, HEALTH INNOVATION, AND YOUTH & FAMILY DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Barnes Chair | OfficerTrustee | 1 | $0 |
John Chan Vice Chair | OfficerTrustee | 1 | $0 |
Kathleen Gitkin Treasurer | OfficerTrustee | 1 | $0 |
Julia Karl Board Member | Trustee | 1 | $0 |
Titus Matthew Board Member | Trustee | 1 | $0 |
Mario Ventura Board Member | Trustee | 1 | $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 | $653,162 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $653,162 |
| Total Program Service Revenue | $1,819,214 |
| Investment income | $1,300,324 |
| 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 | $3,772,700 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $720,263 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $900,000 |
| Fees for services: Legal | $13,141 |
| Fees for services: Accounting | $179,503 |
| 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 | $91,645 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $486 |
| Insurance | $48,662 |
| All other expenses | $28,934 |
| Total functional expenses | $1,982,634 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $24,493,701 |
| 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 | $4,813,026 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,013,444 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $39,320,171 |
| Accounts payable and accrued expenses | $98,283 |
| Grants payable | $0 |
| Deferred revenue | $65,000 |
| 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 | $0 |
| Total liabilities | $163,283 |
| Net assets without donor restrictions | $38,029,253 |
| Net assets with donor restrictions | $1,127,635 |
| 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 | $39,320,171 |
Grants Awarded
Over the last fiscal year, Phoenix Community Development And Investment Corporation has awarded $265,435 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ALHAMBRA EDUCATION PARTNERSHIPS PURPOSE: FORGIVEABLE LOAN FOR THE NFL FIELD AT SEVILLA ELEMENTARY SCHOOL | $83,333 |
LIVE LOVE CHANDLER PURPOSE: FORGIVEABLE LOAN FOR DEVELOPMENT AND CONSTRUCTION OF A 5,000 SQUARE FOOT COMMUNITY LEARNING CENTER. | $83,333 |
MOBILE HOME RELIEF PURPOSE: FUNDING USED TO PROVIDE HUMAN SERVICES NAVIGATION AND CASE MANAGEMENT FOR RESIDENTS OF PHOENIX MOBILE HOME PARKSFACING EVICTION DUE TO THE SALE AND CHANGE OF USE OF THOSE PROPERTIES. A TOTAL OF 134 HOUSEHOLDS COMPRISED OF 393 RESIDENTS FROM THREE MOBILE HOME PARKS HAVE BEEN TRANSITIONED TO PERMANENT HOUSING. FUNDING ALSO PROVIDES ONGOING SUPPORT FOR THESE FAMILIES TO ENSURE THAT THEY ARE STABILIZED IN THEIR NEW HOUSING ENVIRONMENTS. | $98,769 |