Promise Land Community Development Corporation
- Assets
- $1.2m
- Revenue
- $446.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Augusta, GA
- Founding
- 07/2000
- Data as of
- 12/2021
- EIN
- 91-2044127
Organization Overview
Promise Land Community Development Corporation is located in Augusta, GA. The organization was established in 2000. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Promise Land 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, Promise Land Community Development Corporation generated $446.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.9% each year . All expenses for the organization totaled $493.1k during the year ending 12/2021. 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
AFFORDABLE HOUSING FOR LOW INCOME FAMILIES, AND COLLEGE SCHOLARSHIPS FOR AT RISK STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FINANCIAL ASSISTANCE TO FAMILIES TO PURCHASE HOMES AND CREDIT COUNSELING TO CLIENTS. CONSTRUCTION OF NEW HOMES FOR LOW-MODERATE INCOME FAMILIES. BOUGHT, REPAIRED AND SOLD HOMES TO LOW-MODERATE INCOME FAMILIES. COLLEGE SCHOLARSHIPS FOR AT RISK KIDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheila Boazman Executive Director | Trustee | 30 | $55,000 |
Denine Thomas Board Member | Officer | 1 | $0 |
Patricia Gilchrist Board Member | Officer | 1 | $0 |
Jevon Harris Board Member | Officer | 1 | $0 |
Jessica Barnes Board Member | Officer | 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 | $291,648 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $291,648 |
| Total Program Service Revenue | $101,517 |
| Investment income | $13,007 |
| 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 | $28,241 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $446,120 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $345 |
| Fees for services: Accounting | $1,851 |
| 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 | $761 |
| Information technology | $735 |
| Royalties | $0 |
| Occupancy | $3,494 |
| Travel | $7,132 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,460 |
| Interest | $43,095 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,513 |
| Insurance | $17,240 |
| All other expenses | $105,825 |
| Total functional expenses | $493,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,181 |
| 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 | $210,533 |
| Inventories for sale or use | $244,370 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $664,623 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,949 |
| Total assets | $1,230,656 |
| Accounts payable and accrued expenses | $0 |
| 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 | $702,886 |
| Unsecured mortgages and notes payable | $170,964 |
| Other liabilities | $0 |
| Total liabilities | $873,850 |
| Net assets without donor restrictions | $0 |
| 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 | $356,806 |
| Total liabilities and net assets/fund balances | $1,230,656 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Promise Land Community Development Corporation has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: CULTURE | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dreamkey Partners Inc Charlotte, NC | $109,024,724 | $87,997,566 |
Horizon Development Properties Inc Charlotte, NC | $420,836,852 | $43,904,469 |
Georgia Hap Administrators Inc Atlanta, GA | $13,430,323 | $20,876,355 |
Sunrise Northeast Inc Miami, FL | $3,715,475 | $18,670,620 |
Affordable Housing Preservation Corporation St Augustine, FL | $540,750,555 | $2,294,342 |
Choanoke Area Development Assoc Rich Square, NC | $3,243,319 | $10,393,050 |
Preservation Housing Inc Mobile, AL | $45,095,355 | $8,020,455 |
Nonprofit Housing Preservations Sb Inc Riviera Beach, FL | $13,108,120 | $31,278,179 |
Association For Retarded Citizens Housing Development Services Inc Greensboro, NC | $38,855,283 | $9,434,004 |
Jewish Association For Residential Care Inc Boca Raton, FL | $7,062,896 | $8,370,046 |
Habitat For Humanity Of Greater Miami Inc Miami, FL | $44,913,698 | $17,755,764 |
Contemporary Housing Alternatives Of Florida Inc Clearwater, FL | $42,120,344 | $6,399,709 |