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Nonprofiteer
← POLK COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by POLK COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$10,820,788
Total expenses
$4,677,496
Contributions and grants received
$8,564,736
Grants paid
$399,282
Program service revenue
$2,182,888
Investment income
$73,164
Other revenue
$0
Total assets, end of year
$32,672,994
Total liabilities, end of year
$10,602,505
Net assets or fund balances, end of year
$22,070,489
Program services expenses (Part IX)
$3,457,035
Management and general expenses
$1,058,031
Fundraising expenses
$162,430
Program service expenses (Part III)
$3,457,035

Program services were 73.9% 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)

    $4,868,066

  • 1f · All other contributions, gifts and grants

    $3,696,670

  • 1g · Noncash contributions included above

    $288,340

  • 2a · Program service revenue: NET RENTAL REVENUE

    total $2,165,643 · related or exempt $2,165,643

  • 2b · Program service revenue: OTHER FEE INCOME

    total $16,951 · related or exempt $16,951

  • 2c · Program service revenue: LAUNDRY INCOME

    total $294 · related or exempt $294

  • 3 · Investment income

    total $113,758 · related or exempt $72,203 · excluded $41,555

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

    other assets $40,594

  • 7c · Gain or loss

    other assets -$40,594

  • 7d · Net gain or loss

    total -$40,594 · excluded -$40,594

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $399,282 · program services $399,282

  • 5 · Compensation of officers, directors and key employees

    total $137,647 · program services $41,294 · management and general $13,765 · fundraising $82,588

  • 7 · Other salaries and wages

    total $902,496 · program services $445,185 · management and general $408,509 · fundraising $48,802

  • 8 · Pension plan contributions

    total $18,384 · program services $8,598 · management and general $7,464 · fundraising $2,322

  • 9 · Other employee benefits

    total $115,881 · program services $54,198 · management and general $47,042 · fundraising $14,641

  • 10 · Payroll taxes

    total $93,645 · program services $43,798 · management and general $38,020 · fundraising $11,827

  • 11b · Fees: legal

    total $5,541 · program services $457 · management and general $5,084

  • 11c · Fees: accounting

    total $44,575 · program services $3,677 · management and general $40,898

  • 11g · Fees: other

    total $168,554 · program services $21,295 · management and general $147,259

  • 13 · Office expenses

    total $140,260 · program services $21,661 · management and general $118,599

  • 14 · Information technology

    total $18,936 · program services $2,924 · management and general $16,012

  • 17 · Travel

    total $20,494 · program services $3,164 · management and general $17,330

  • 20 · Interest

    total $327,744 · program services $304,212 · management and general $23,532

  • 22 · Depreciation, depletion and amortization

    total $1,184,915 · program services $1,184,915

  • 23 · Insurance

    total $217,213 · program services $212,106 · management and general $5,107

  • 24a · Other expenses: UTILITIES

    total $332,593 · program services $327,975 · management and general $4,618

  • 24b · Other expenses: MAINTENANCE

    total $264,554 · program services $230,482 · management and general $34,072

  • 24c · Other expenses: PROPERTY TAXES

    total $155,150 · program services $151,502 · management and general $3,648

  • 24e · All other expenses

    total $129,632 · program services $310 · management and general $127,072 · fundraising $2,250

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $815,271 · end of year $872,243

  • 2 · Savings and temporary cash investments

    beginning of year $1,417,195 · end of year $1,218,889

  • 3 · Pledges and grants receivable

    beginning of year $346,821 · end of year $1,196,345

  • 4 · Accounts receivable

    beginning of year $181,771 · end of year $2,575

  • 7 · Other notes and loans receivable

    beginning of year $20,670 · end of year $5,670

  • 9 · Prepaid expenses and deferred charges

    beginning of year $87,020 · end of year $152,509

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

    $43,812,897

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

    $15,832,149

  • 10c · Land, buildings and equipment, net

    beginning of year $22,028,174 · end of year $27,980,748

  • 11 · Investments: publicly traded securities

    beginning of year $320,565

  • 13 · Investments: program-related

    beginning of year $524,442 · end of year $1,087,794

  • 15 · Other assets

    beginning of year $148,720 · end of year $156,221

  • 17 · Accounts payable and accrued expenses

    beginning of year $586,390 · end of year $1,121,265

  • 19 · Deferred revenue

    beginning of year $25,022 · end of year $48,444

  • 23 · Secured mortgages and notes payable

    beginning of year $7,988,834 · end of year $8,525,575

  • 24 · Unsecured notes and loans payable

    beginning of year $750,000 · end of year $750,000

  • 25 · Other liabilities

    beginning of year $613,206 · end of year $157,221

  • 27 · Net assets without donor restrictions

    beginning of year $14,035,415 · end of year $18,765,577

  • 28 · Net assets with donor restrictions

    beginning of year $1,891,782 · end of year $3,304,912

Mission and programs · 2024

Mission

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).

  • TO DEVELOP, OPERATE AND PROVIDE SAFE, QUALITY, AND AFFORDABLE HOUSING.

    Expenses $3,457,035 · Grants $399,282 · Revenue $2,255,091

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Rita A Grady

    EXECUTIVE DI

    Total calculated
    $130,436
    From this org
    $129,914
    From related orgs
    $0
    Other
    $522
    Hours/week
    40

  • Amy Houghtaling

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Lane Shetterly

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Linda Jennings

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Stephanie Torres

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Zellee Allen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Alea Littleton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jeremy Gordon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Kate Cooper Richardson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Javier Castaneda

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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.

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.

  • WOODBRIDGE MEADOW LP

    RENTAL · OR · income $502,897 · assets $2,221,936

    Directly controlled by POLK CDC

  • RICKREALL CREEK TOWNHOMES LP

    RENTAL · OR · income $391,878 · assets $3,299,494

    Directly controlled by POLK CDC

  • POLK WALNUT MANAGEMENT LLC

    RENTAL · OR

    Directly controlled by POLK CDC

  • POLK HILLSIDE VILLA LLC

    RENTAL · OR · income $55,474 · assets $1,158,730

    Directly controlled by POLK CDC

  • EAST PLACE LLC

    RENTAL · OR · income $45,910 · assets $814,271

    Directly controlled by POLK CDC

  • JEN'S PLACE LLC

    RENTAL · OR · income $42,486 · assets $1,145,486

    Directly controlled by POLK CDC

  • BIRCHWOOD LLC

    RENTAL · OR · income $41,425 · assets $1,146,173

    Directly controlled by POLK CDC

  • WEAVER'S WAY LLC

    RENTAL · OR · income $138,237 · assets $2,457,693

    Directly controlled by POLK CDC

  • ASH CREEK TERRACE APARTMENTS LLC

    RENTAL · OR · income $44,410 · assets $1,104,137

    Directly controlled by POLK CDC

  • FIRESTONE PLACE LLC

    RENTAL · OR · income $58,112 · assets $1,302,605

    Directly controlled by POLK CDC

  • EL GLEN 2 LLC

    RENTAL · OR · income $51,050 · assets $1,548,873

    Directly controlled by POLK CDC

  • LEVENS STREET VETERANS HOUSING LLC

    RENTAL · OR · income $128,341 · assets $2,445,955

    Directly controlled by POLK CDC

  • WM DALLAS LLC

    RENTAL · OR

    Directly controlled by POLK CDC

  • HART LAND VETERANS HOUSING LLC

    RENTAL · OR · income $126,881 · assets $3,228,025

    Directly controlled by POLK CDC

  • CARSON COMMONS LLC

    RENTAL · OR · assets $340,700

    Directly controlled by POLK CDC

  • DALLAS VENTURES LLC

    RENTAL · OR

    Directly controlled by POLK CDC

Provenance

Return type
form_990
Tax year
2024
Filed
15 March 2026
IRS schema version
2024v5.0
Source object
202630839349300418

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