Polk Community Development Corporation
- Assets
- $22.1m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 25
- Location
- Dallas, OR
- Founding
- 02/1995
- Data as of
- 06/2022
- EIN
- 93-1012211
Organization Overview
Polk Community Development Corporation is located in Dallas, OR. The organization was established in 1995. 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. As of 06/2022, Polk Community Development Corporation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Polk 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 06/2022, Polk Community Development Corporation generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $3.0m during the year ending 06/2022. While expenses have increased by 12.2% per year over the past 7 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
SERVING THE NEEDS OF LOW AND MODERATE INCOME PEOPLE THROUGH COMMUNITY ECONOMIC DEVELOPMENT ACTIVITIES INCLUDING THE DEVELOPMENT AND MANAGEMENT OF AFFORDABLE RENTAL HOUSING, FIRST TIME HOME OWNERSHIP, AND COMMUNITY SELF- HELP ACTIVITIES WITHIN POLK COUNTY, OREGON, AND TO CARRY OUT SUCH ACTIVITIES AND BUSINESS AS MAY BE AUTHORIZED FOR A CORPORATION ORGANIZED UNDER THE OREGON NONPROFIT CORPORATION ACT AND AS A CORPORATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3).
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO DEVELOP, OPERATE AND PROVIDE SAFE, QUALITY, AND AFFORDABLE HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rita A Grady Executive Di | Officer | 40 | $103,149 |
Amy Houghtaling President | OfficerTrustee | 1 | $0 |
Lane Shetterly Vice Preside | OfficerTrustee | 1 | $0 |
Linda Jennings Treasurer | OfficerTrustee | 1 | $0 |
Stephanie Torres Secretary | OfficerTrustee | 1 | $0 |
Zellee Allen Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
I & E Construction Construction | 6/29/22 | $1,232,137 |
Bda Architecture & Planning Pc Architect | 6/29/22 | $185,113 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,464,886 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,349,069 |
| Noncash contributions included in lines 1a–1f | $1,315,759 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,813,955 |
| Total Program Service Revenue | $1,462,147 |
| Investment income | $31,815 |
| 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 | $5,307,917 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,500 |
| Grants and other assistance to domestic individuals. | $264,646 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $106,680 |
| Compensation of current officers, directors, key employees. | $10,668 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $647,179 |
| Pension plan accruals and contributions | $10,969 |
| Other employee benefits | $48,374 |
| Payroll taxes | $61,684 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,743 |
| Fees for services: Accounting | $40,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,548 |
| Advertising and promotion | $0 |
| Office expenses | $121,671 |
| Information technology | $51,493 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,139 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $120,322 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $863,729 |
| Insurance | $91,268 |
| All other expenses | -$17,133 |
| Total functional expenses | $3,010,742 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $784,456 |
| Savings and temporary cash investments | $1,306,724 |
| Pledges and grants receivable | $231,145 |
| Accounts receivable, net | $42,845 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $541,227 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $95,884 |
| Net Land, buildings, and equipment | $18,951,637 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $121,927 |
| Total assets | $22,075,845 |
| Accounts payable and accrued expenses | $319,325 |
| Grants payable | $0 |
| Deferred revenue | $3,978 |
| 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 | $4,981,316 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $703,263 |
| Total liabilities | $6,007,882 |
| Net assets without donor restrictions | $14,004,785 |
| Net assets with donor restrictions | $2,063,178 |
| 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 | $22,075,845 |
Grants Awarded
Over the last fiscal year, Polk Community Development Corporation has awarded $16,250 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TB JEFFRIES INCMONMOUTH FITNESS CLUB PURPOSE: PANDEMIC RELIEF | $10,000 |
GREEN VILLA FARMS LLC PURPOSE: PANDEMIC RELIEF | $6,250 |