Form 990 for tax year 2024
Filed by PHOENIX COMMUNITY DEVELOPMENT AND INVESTMENT CORPORATION.
Totals
- Total revenue
- $2,921,536
- Total expenses
- $2,557,822
- Contributions and grants received
- $186,809
- Grants paid
- $1,155,554
- Program service revenue
- $1,460,138
- Investment income
- $1,274,589
- Other revenue
- $0
- Total assets, end of year
- $39,881,295
- Total liabilities, end of year
- $264,240
- Net assets or fund balances, end of year
- $39,617,055
- Program services expenses (Part IX)
- $1,663,754
- Management and general expenses
- $894,068
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,663,754
Program services were 65.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$186,809
-
2a · Program service revenue: ASSET MANAGEMENT FEE
total $788,639 · related or exempt $788,639
-
2b · Program service revenue: SPONSOR FEE
total $560,000 · related or exempt $560,000
-
2c · Program service revenue: OTHER FEE INCOME
total $111,499 · related or exempt $111,499
-
3 · Investment income
total $1,274,589 · excluded $1,274,589
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,155,554 · program services $1,155,554
-
11a · Fees: management
total $924,000 · program services $508,200 · management and general $415,800
-
11b · Fees: legal
total $32,148 · management and general $32,148
-
11c · Fees: accounting
total $278,612 · management and general $278,612
-
13 · Office expenses
total $83,222 · management and general $83,222
-
22 · Depreciation, depletion and amortization
total $51 · management and general $51
-
23 · Insurance
total $48,662 · management and general $48,662
-
24a · Other expenses: LOAN FEES
total $35,573 · management and general $35,573
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $24,493,701 · end of year $25,408,705
-
7 · Other notes and loans receivable
beginning of year $4,813,026 · end of year $4,455,596
-
12 · Investments: other securities
beginning of year $10,013,444 · end of year $10,016,244
-
15 · Other assets
beginning of year $0 · end of year $750
-
17 · Accounts payable and accrued expenses
beginning of year $98,283 · end of year $106,740
-
19 · Deferred revenue
beginning of year $65,000 · end of year $157,500
-
27 · Net assets without donor restrictions
beginning of year $38,029,253 · end of year $38,457,611
-
28 · Net assets with donor restrictions
beginning of year $1,127,635 · end of year $1,159,444
Mission and programs · 2024
Mission
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.
-
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.
Expenses $355,740 · Revenue $1,460,138
-
NON-NEW MARKETS SMALL BUSINESS LOANS TO BUSINESSES THAT WOULD NOT QUALIFY FOR TRADITIONAL LENDING, DESIGNED TO ASSIST IN THOSE COMMUNITIES THAT WE SERVE.
Expenses $76,230
-
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.
Expenses $1,231,784 · Grants $1,155,554
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
JOHN CHAN
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
TITUS MATTHEW
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
KATHLEEN GITKIN
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
LLOYD HOPKINS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
JULIA KARL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
JOSEPH LOSADA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
MARIO VENTURA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
GINGER SPENCER
CHAIR EMERITUS
- Total calculated
- $0
- Hours/week
- 1
-
JUAN SALGADO
CHIEF EXECUTIVE OFFICER
- Total calculated
- $0
- Hours/week
- 10
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Schedule J
Answered yes
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
US VETS
$856,740
SUPPORT OF U.S. VETS' TRANSITIONAL HOUSING PROGRAM AND THE TEMPORARY RELOCATION EFFORTS
-
MOBILE HOME RELIEF
$110,196
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.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
RELATED · INVESTMENT IN LOW-INCOME COMMUNITY BUSINESSES · AZ · 0.01% owned · share of income $7 · share of assets $1,038 · general or managing partner
-
RELATED · INVESTMENT IN LOW-INCOME COMMUNITY BUSINESSES · AZ · 0.01% owned · share of income $17 · share of assets $2,424 · general or managing partner
-
RELATED · INVESTMENT IN LOW-INCOME COMMUNITY BUSINESSES · AZ · 0.01% owned · share of income $14 · share of assets $1,982 · general or managing partner
-
RELATED · INVESTMENT IN LOW-INCOME COMMUNITY BUSINESSES · AZ · 0.01% owned · share of income $9 · share of assets $1,243 · general or managing partner
-
RELATED · INVESTMENT IN LOW-INCOME COMMUNITY BUSINESSES · AZ · 0.01% owned · share of income $10 · share of assets $1,491 · general or managing partner
-
RELATED · INVESTMENT IN LOW-INCOME COMMUNITY BUSINESSES · AZ · 0.01% owned · share of income $12 · share of assets $1,741 · general or managing partner
-
RELATED · INVESTMENT IN LOW-INCOME COMMUNITY BUSINESSES · AZ · 0.01% owned · share of income $24 · share of assets $3,485 · general or managing partner
-
RELATED · INVESTMENT IN LOW-INCOME COMMUNITY BUSINESSES · AZ · 0.01% owned · share of income $8 · share of assets $1,496 · general or managing partner
-
RELATED · INVESTMENT IN LOW-INCOME COMMUNITY BUSINESSES · AZ · 0.01% owned · share of income $8 · share of assets $1,297 · general or managing partner
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202543189349303394
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