Skip to content
Nonprofiteer
← PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC

Form 990 for tax year 2022

Filed by PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC.

Totals

Total revenue
$8,839,541
Total expenses
$8,552,071
Contributions and grants received
$2,233,202
Grants paid
$260,571
Program service revenue
$5,505,628
Investment income
$815,027
Other revenue
$285,684
Total assets, end of year
$37,779,245
Total liabilities, end of year
$15,999,193
Net assets or fund balances, end of year
$21,780,052
Program services expenses (Part IX)
$7,334,165
Management and general expenses
$1,182,679
Fundraising expenses
$35,227
Program service expenses (Part III)
$7,334,165

Program services were 85.8% 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.

  • 1e · Government grants (contributions)

    $1,089,298

  • 1f · All other contributions, gifts and grants

    $1,143,904

  • 1g · Noncash contributions included above

    $42,526

  • 2a · Program service revenue: RENTAL REVENUE

    total $5,195,641 · related or exempt $5,195,641

  • 2b · Program service revenue: PROPERTY MGMT FEES

    total $280,959 · related or exempt $280,959

  • 2c · Program service revenue: DAMAGE/REPAIR FEES

    total $27,505 · related or exempt $27,505

  • 2d · Program service revenue: SCREENING FEES

    total $1,523 · related or exempt $1,523

  • 3 · Investment income

    total $124,961 · excluded $124,961

  • 7a · Gross sales of assets other than inventory

    other assets $733,723

  • 7b · Less cost or other basis and sales expenses

    other assets $43,657

  • 7c · Gain or loss

    other assets $690,066

  • 7d · Net gain or loss

    total $690,066 · excluded $690,066

  • 11a · Other revenue: GAIN ON INSURANCE PROC

    total $221,204 · related or exempt $221,204

  • 11b · Other revenue: MISCELLANEOUS

    total $64,480 · related or exempt $64,480

  • 11e · Other revenue, total

    $285,684

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $260,571 · program services $260,571

  • 5 · Compensation of officers, directors and key employees

    total $226,089 · program services $56,522 · management and general $158,262 · fundraising $11,305

  • 7 · Other salaries and wages

    total $2,388,417 · program services $2,347,990 · management and general $38,380 · fundraising $2,047

  • 8 · Pension plan contributions

    total $79,442 · program services $77,634 · management and general $1,709 · fundraising $99

  • 9 · Other employee benefits

    total $208,959 · program services $198,516 · management and general $9,801 · fundraising $642

  • 10 · Payroll taxes

    total $307,482 · program services $283,941 · management and general $22,048 · fundraising $1,493

  • 11a · Fees: management

    total $105,862 · program services $105,862

  • 11b · Fees: legal

    total $141,391 · program services $77,816 · management and general $63,575

  • 11c · Fees: accounting

    total $253,727 · program services $15,725 · management and general $238,002

  • 11g · Fees: other

    total $258,475 · program services $170,998 · management and general $87,477

  • 12 · Advertising and promotion

    total $19,904 · program services $8,237 · management and general $11,667

  • 13 · Office expenses

    total $164,142 · program services $35,491 · management and general $128,651

  • 14 · Information technology

    total $75,055 · program services $6,770 · management and general $68,285

  • 16 · Occupancy

    total $1,029,344 · program services $981,982 · management and general $47,362

  • 17 · Travel

    total $10,350 · program services $6,729 · management and general $3,621

  • 20 · Interest

    total $427,561 · program services $412,804 · management and general $14,757

  • 22 · Depreciation, depletion and amortization

    total $1,454,549 · program services $1,444,605 · management and general $9,944

  • 23 · Insurance

    total $303,411 · program services $130,508 · management and general $172,903

  • 24a · Other expenses: PROPERTY MAINTENANCE

    total $655,993 · program services $576,845 · management and general $79,148

  • 24b · Other expenses: OTHER

    total $118,377 · program services $82,827 · management and general $15,909 · fundraising $19,641

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $51,615 · program services $51,615

  • 24d · Other expenses: BANK AND LOAN CHARGES

    total $11,355 · program services $177 · management and general $11,178

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $773,743 · end of year $1,986,501

  • 2 · Savings and temporary cash investments

    beginning of year $983,148 · end of year $1,021,180

  • 3 · Pledges and grants receivable

    beginning of year $366,713 · end of year $283,305

  • 4 · Accounts receivable

    beginning of year $2,931,700 · end of year $2,668,166

  • 7 · Other notes and loans receivable

    beginning of year $2,455,969 · end of year $1,987,478

  • 9 · Prepaid expenses and deferred charges

    beginning of year $68,605 · end of year $73,825

  • 10a · Land, buildings and equipment: cost or other basis

    $54,994,488

  • 10b · Land, buildings and equipment: accumulated depreciation

    $27,466,258

  • 10c · Land, buildings and equipment, net

    beginning of year $27,839,317 · end of year $27,528,230

  • 13 · Investments: program-related

    beginning of year $1,674,724 · end of year $1,674,540

  • 15 · Other assets

    beginning of year $0 · end of year $556,020

  • 17 · Accounts payable and accrued expenses

    beginning of year $900,658 · end of year $1,373,899

  • 19 · Deferred revenue

    beginning of year $341,292 · end of year $317,978

  • 23 · Secured mortgages and notes payable

    beginning of year $15,059,180 · end of year $14,029,226

  • 25 · Other liabilities

    beginning of year $284,988 · end of year $278,090

  • 27 · Net assets without donor restrictions

    beginning of year $20,363,189 · end of year $21,328,333

  • 28 · Net assets with donor restrictions

    beginning of year $144,612 · end of year $451,719

Mission and programs · 2022

Mission

PRESERVE, EXPAND, AND MANAGE AFFORDABLE HOUSING IN THE CITY OF PORTLAND AND PROVIDE ACCESS TO AND ADVOCACY SERVICES FOR OUR RESIDENTS. CONTINUED ON SCHEDULE O. PCRI WILL PRESERVE AND MANAGE AFFORDABLE, HIGH QUALITY, SCATTERED SITE, SINGLE FAMILY HOMES; EXPAND AND MANAGE OUR PORTFOLIO OF SMALL MULTIPLEXES; AND ACQUIRE/DEVELOP MULTI-FAMILY HOUSING TO PRESERVE AFFORDABLE HOUSING CHOICES IN OUR COMMUNITY.

Activities or mission (Part I)

TO SERVE THE REGION AS AN ADVOCATE FOR LOW-INCOME HOUSING, AS WELL AS A LOW-INCOME PROPERTY MANAGER, COMMUNITY DEVELOPER, AND CATALYST FOR USEFUL AND INNOVATIVE COMMUNITY DEVELOPMENT INITIATIVES THAT SUPPORT LOWER INCOME RESIDENTS LIVING PRIMARILY IN NORTHEAST PORTLAND NEIGHBORHOODS.

  • PROPERTY MANAGEMENT - PROPERTY MANAGEMENT REPRESENTS THAT PART OF THE ORGANIZATION RESPONSIBLE FOR MAINTAINING THE INTEGRITY OF THE ORGANIZATION'S PHYSICAL ASSETS AND THE DAY-TO-DAY MANAGEMENT OF RENTAL OPERATIONS. ACTIVITIES INCLUDE THE PROCESSING OF APPLICATIONS FOR HOUSING, LEASING AVAILABLE UNITS, COLLECTION OF RENT, AND MONITORING COURT PROCESSES RELATING TO LEASE VIOLATIONS. PROPERTY MANAGEMENT ALSO OVERSEES THE PHYSICAL MAINTENANCE OF PORTLAND COMMUNITY REINVESTMENT INITIATIVES' ("PCRI") PROPERTIES. THIS INCLUDES REFURBISHMENT OF VACANT UNITS AND EMERGENCY, ROUTINE, AND PREVENTATIVE MAINTENANCE.

    Expenses $5,646,274 · Revenue $5,791,312

  • SUPPORTIVE PROGRAMS - PCRI'S SUPPORTIVE PROGRAMS PROVIDE A FULL ARRAY OF CULTURALLY-SPECIFIC SERVICES TO RESIDENTS. OVER THE COURSE OF OUR 20 PLUS-YEAR HISTORY, PCRI HAS STABILIZED THOUSANDS OF FAMILIES BY PROVIDING THEM WITH AFFORDABLE RENTAL HOUSING AND ASSET BUILDING PROGRAMS AND SERVICES.HOMEBUYER EDUCATION AND COUNSELING - THIS PROGRAM PROVIDES HOMEBUYER COUNSELING AND EDUCATION TO LOW TO MODERATE-INCOME, FIRST-TIME HOMEBUYERS. OUR COMPREHENSIVE PROGRAM INCLUDES INDIVIDUAL COUNSELING, FINANCIAL EDUCATION, PEER HOMEBUYER CLUB MEETINGS, DOWN PAYMENT OR CLOSING COST ASSISTANCE, AND HUD-CERTIFIED HOMEBUYER EDUCATION. SERVICES ARE DELIVERED IN BOTH ONE-ON-ONE AND GROUP SETTINGS. HOMEOWNERSHIP RETENTION - THIS PROGRAM PROVIDES AN ARRAY OF SERVICES TO HELP LOW TO MODERATE-INCOME HOMEOWNERS AGED 55 AND OVER MAINTAIN HOMEOWNERSHIP. SERVICES INCLUDE POST-PURCHASE COUNSELING, LOSS MITIGATION COUNSELING, INFORMATION AND REFERRALS, FINANCIAL EDUCATION, TAX-DEFERMENT ASSISTANCE, AND URGENT HOME REPAIRS. WE ALSO OFFER A WIDE ARRAY OF CLASSES AND WORKSHOP ON TOPICS SUCH AS PREVENTATIVE MAINTENANCE, ELDER FRAUD, AND ESTATE PLANNING. FINANCIAL EDUCATION - THIS PROGRAM IS DESIGNED TO HELP PARTICIPANTS MANAGE THEIR PERSONAL FINANCES EFFECTIVELY AND MAKE WISE FINANCIAL DECISIONS. OUR PROGRAM ASSISTS CLIENTS WITH ESTABLISHING PERSONAL BUDGETS, EVALUATING DEBT LOADS, SETTING FINANCIAL GOALS, AND DEVELOPING A PLAN OF ACTION. SERVICES ARE DELIVERED IN BOTH ONE-ON-ONE AND GROUP SETTINGS.INDIVIDUAL DEVELOPMENT ACCOUNTS (IDA) - IN PARTNERSHIP WITH CASA OF OREGON, PCRI RESIDENTS CAN PARTICIPATE IN A 3-TO-1 MATCHED SAVINGS PROGRAM DESIGNED TO HELP FAMILIES DEVELOP THE HABIT OF SAVING. SAVINGS GOALS CAN BE IN ONE OF FOUR AREAS: HOMEOWNERSHIP, HOME REPAIR, SMALL BUSINESS DEVELOPMENT, OR EDUCATION.CAREER DEVELOPMENT - OUR CAREER DEVELOPMENT PROGRAM PROVIDES ASSISTANCE WITH JOB SEARCHING, RESUME WRITING, AND INTERVIEW PREPARATION. WE OFFER CLASSES AND WORKSHOPS IN ENGLISH LANGUAGE LEARNING, BASIC COMPUTER SKILLS, FINANCIAL EDUCATION, AND SOFT SKILLS FOR THE WORKPLACE. WE ALSO OFFER SOME TRANSPORTATION ASSISTANCE AND CHILDCARE DURING INTERVIEWS. SERVICES ARE DELIVERED IN BOTH ONE-ON-ONE AND GROUP SETTINGS. YOUTH DEVELOPMENT - OUR YOUTH PROGRAM OFFERS EDUCATIONAL AND ARTS ENRICHMENT ACTIVITIES TO K-12 YOUTH. ACTIVITIES INCLUDE AFTER-SCHOOL TUTORING, SUMMER ARTS AND HEALTH CAMPS, COMMUNITY GARDENING AND NUTRITION CLASSES, YOUTH FINANCIAL EDUCATION WORKSHOPS, SUMMER INTERNSHIPS, AND MANY OTHER SUPPLEMENTAL ACTIVITIES FOR YOUTH AND FAMILIES.THE PROGRAMS DEPARTMENT HAS BEEN VERY SUCCESSFUL IN HELPING FULFILL THE PCRI VISION OF PROVIDING AFFORDABLE HOUSING AND ASSOCIATED SERVICES THAT ACHIEVE FAMILY STABILITY, SELF-SUFFICIENCY, AND RESIDENT WEALTH CREATION.

    Expenses $1,612,213 · Grants $260,571

  • HOUSING DEVELOPMENT - HOUSING DEVELOPMENT REPRESENTS THE ADMINISTRATION AND MANAGEMENT OF ALL NEW CONSTRUCTION PROJECTS FOR PCRI. ACTIVITIES INCLUDE FEASIBILITY ANALYSES OF POTENTIAL DEVELOPMENT PROJECTS, PRODUCTION AND ASSEMBLY OF FUNDING APPLICATIONS, SELECTION AND COORDINATION OF DEVELOPMENT TEAM MEMBERS, ADMINISTRATION OF CONSTRUCTION DRAWS, AND THE PROVISION OF DUE DILIGENCE DOCUMENTATION FOR LENDERS AND FUNDERS.

    Expenses $75,678

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Eric Hunter

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Andy Cotugno

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Damien Hall

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Linda Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rev Dr Leroy Haynes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Don Shanklin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kathy Swift

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kymberly Horner

    EXECUTIVE DIRECTOR

    Total calculated
    $226,089
    From this org
    $211,495
    From related orgs
    $0
    Other
    $14,594
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,495
    Bonus
    $0
    Other
    $0
    Deferred
    $6,345
    Nontaxable benefits
    $8,249
    Filer's total
    $226,089

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 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

The filer's explanations (Part III)

PART I, LINE 3
THE BOARD PERSONNEL COMMITTEE ANNUALLY REVIEWS AND DETERMINES THE EXECUTIVE DIRECTOR'S COMPENSATION.

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

No itemized grants to organizations on this return.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • PCRI TARGET HOMES #1 LLC

    LOW-INCOME HOUSING · OR

    Directly controlled by PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC

  • PCRI CASCADIAN GP LLC

    LOW-INCOME HOUSING · OR

    Directly controlled by PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC

  • PARK TERRACE COMMUNITY LLC

    LOW-INCOME HOUSING · OR · income $943,782 · assets $2,411,753

    Directly controlled by PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC

  • BEATRICE MORROW COMMERCIAL LLC

    LOW-INCOME HOUSING · OR

    Directly controlled by PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC

  • PCRI NORTHEAST HOUSING LLC

    LOW-INCOME HOUSING · OR · income -$90 · assets $634,704

    Directly controlled by PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC

  • PCRI NORTHEAST HOUSING 2 LLC

    LOW-INCOME HOUSING · OR · income -$65 · assets $1,039,872

    Directly controlled by PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • MLK & COOK APARTMENT LP

    RELATED · LOW-INCOME HOUSING · OR · 0.01% owned · share of income -$90 · share of assets $2,875,951 · general or managing partner

    Directly controlled by PCRI NORTHEAST HOUSING LLC

  • KING PARKS APARTMENTS LP

    RELATED · LOW-INCOME HOUSING · OR · 0.01% owned · share of income -$65 · share of assets $3,376,090 · general or managing partner

    Directly controlled by PCRI NORTHEAST HOUSING 2 LLC

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202303189349317295

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.