Partners For The Common Good Inc
- Assets
- $60.2m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 16
- Location
- Washington, DC
- Founding
- 08/2000
- Data as of
- 12/2022
- EIN
- 36-4369806
Organization Overview
Partners For The Common Good Inc is located in Washington, DC. The organization was established in 2000. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Partners For The Common Good Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Partners For The Common Good Inc 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 12/2022, Partners For The Common Good Inc generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $3.6m during the year ending 12/2022. While expenses have increased by 8.7% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING COMMUNITY DEVELOPMENT LOANS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARTNERS FOR THE COMMON GOOD PROVIDES AN EFFECTIVE AND FISCALLY PRUDENT MECHANISM THROUGH WHICH INSTITUTIONAL INVESTORS CAN SUPPORT COMMUNITY DEVELOPMENT NATIONWIDE AND ABROAD. WE MOVE OUR ECONOMY FORWARD BY PROVIDING COMMUNITY DEVELOPMENT LOANS AND ENCOURAGING COMMUNITY ENGAGEMENT.
CAPNEXUS - AN ONLINE TOOL FOR CDFIS, INVESTORS, AND OTHERS IN THE COMMUNITY DEVELOPMENT FINANCE FIELD TO CONNECT MISSION FOCUSED CAPITAL WITH COMMUNITY DEVELOPMENT PROJECTS. IT STRENGTHENS THE CAPACITY OF INSTITUTIONS AND THE INDUSTRY TO SERVE COMMUNITIES THAT NEED IT MOST.
NEW MARKETS TAX CREDITS - PARTNERS FOR THE COMMON GOOD PARTICIPATES IN THE NEW MARKETS CREDIT PROGRAM, AS AN EXTENSION OF LENDING DONE THROUGH OUR GENERAL LOAN FUND. THE NMTC ALLOWS PCG TO SIGNIFICANTLY INCREASE THE FLOW OF CAPITAL TO LOW INCOME COMMUNITIES BY PROVIDING A TAX INCENTIVE TO PRIVATE INVESTORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amir Kirkwood Director | Trustee | 2 | $0 |
Barbara Dreher Outgoing-Board Of Directors - Secre | OfficerTrustee | 2 | $0 |
Dan Betancourt Board Of Directors - Chair | OfficerTrustee | 2 | $0 |
David Landis Director (until 9/2022) | Trustee | 2 | $0 |
Jennifer Novak Board Of Directors - Treas | OfficerTrustee | 2 | $0 |
Jie Wang Director - Vice Chairperso | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cohnreznick Llp Audit/tax Services | 12/30/22 | $161,625 |
John Brand - Teambrand Llc Consulting Services | 12/30/22 | $115,580 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $690,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $316,776 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,006,776 |
| Total Program Service Revenue | $3,138,420 |
| Investment income | $59,656 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $75,598 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,280,450 |
| 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. | $422,839 |
| Compensation of current officers, directors, key employees. | $169,136 |
| 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 | $1,217,871 |
| Fees for services: Legal | $11,261 |
| Fees for services: Accounting | $162,468 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $405,130 |
| Advertising and promotion | $0 |
| Office expenses | $91,510 |
| Information technology | $4,519 |
| Royalties | $0 |
| Occupancy | $131,978 |
| Travel | $35,320 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,662 |
| Interest | $967,491 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,165 |
| Insurance | $24,057 |
| All other expenses | -$64,042 |
| Total functional expenses | $3,575,096 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,196,891 |
| Savings and temporary cash investments | $14,164,478 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,357,893 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $39,434,009 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $52,600 |
| Net Land, buildings, and equipment | $1,429,151 |
| Investments—publicly traded securities | $545,065 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,250 |
| Total assets | $60,206,337 |
| Accounts payable and accrued expenses | $1,060,706 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $38,472,749 |
| Other liabilities | $264,447 |
| Total liabilities | $39,797,902 |
| Net assets without donor restrictions | $19,688,435 |
| Net assets with donor restrictions | $720,000 |
| 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 | $60,206,337 |