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Nonprofiteer
← POLK COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by POLK COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$3,545,955
Total expenses
$3,752,860
Contributions and grants received
$1,745,064
Grants paid
$540,027
Program service revenue
$1,776,182
Investment income
$24,709
Other revenue
$0
Total assets, end of year
$24,286,714
Total liabilities, end of year
$8,425,656
Net assets or fund balances, end of year
$15,861,058
Program services expenses (Part IX)
$3,058,751
Management and general expenses
$539,970
Fundraising expenses
$154,139
Program service expenses (Part III)
$3,058,751

Program services were 81.5% 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)

    $1,732,979

  • 1f · All other contributions, gifts and grants

    $12,085

  • 2a · Program service revenue: NET RENTAL REVENUE

    total $1,721,595 · related or exempt $1,721,595

  • 2b · Program service revenue: OTHER FEE INCOME

    total $52,566 · related or exempt $52,566

  • 2c · Program service revenue: LAUNDRY INCOME

    total $2,021 · related or exempt $2,021

  • 3 · Investment income

    total $24,709 · related or exempt $15,336 · excluded $9,373

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $175,000 · program services $175,000

  • 2 · Grants to domestic individuals

    total $365,027 · program services $365,027

  • 5 · Compensation of officers, directors and key employees

    total $124,798 · program services $37,439 · management and general $12,480 · fundraising $74,879

  • 7 · Other salaries and wages

    total $775,718 · program services $451,924 · management and general $273,703 · fundraising $50,091

  • 8 · Pension plan contributions

    total $10,330 · program services $5,696 · management and general $3,226 · fundraising $1,408

  • 9 · Other employee benefits

    total $60,588 · program services $32,236 · management and general $19,730 · fundraising $8,622

  • 10 · Payroll taxes

    total $76,070 · program services $41,945 · management and general $23,757 · fundraising $10,368

  • 11b · Fees: legal

    total $14,460 · program services $353 · management and general $14,107

  • 11c · Fees: accounting

    total $30,545 · program services $745 · management and general $29,800

  • 11g · Fees: other

    total $5,260 · program services $38 · management and general $5,222

  • 13 · Office expenses

    total $100,188 · program services $30,170 · management and general $70,018

  • 14 · Information technology

    total $46,859 · program services $14,109 · management and general $32,750

  • 17 · Travel

    total $10,043 · program services $3,024 · management and general $7,019

  • 20 · Interest

    total $176,643 · program services $166,024 · management and general $10,619

  • 22 · Depreciation, depletion and amortization

    total $960,275 · program services $960,275

  • 23 · Insurance

    total $143,023 · program services $141,452 · management and general $1,571

  • 24a · Other expenses: UTILITIES

    total $250,846 · program services $247,969 · management and general $2,877

  • 24b · Other expenses: MAINTENANCE

    total $228,159 · program services $200,664 · management and general $27,495

  • 24c · Other expenses: PROPERTY TAXES

    total $127,651 · program services $126,395 · management and general $1,256

  • 24d · Other expenses: PROPERTY MGT & REIMB

    total $18,525 · program services $18,525

  • 24e · All other expenses

    total $52,852 · program services $39,741 · management and general $4,340 · fundraising $8,771

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $784,456 · end of year $431,564

  • 2 · Savings and temporary cash investments

    beginning of year $1,306,724 · end of year $1,075,553

  • 3 · Pledges and grants receivable

    beginning of year $231,145 · end of year $332,962

  • 4 · Accounts receivable

    beginning of year $42,845 · end of year $29,476

  • 7 · Other notes and loans receivable

    beginning of year $541,227 · end of year $467,265

  • 9 · Prepaid expenses and deferred charges

    beginning of year $95,884 · end of year $73,913

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

    $34,922,640

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

    $13,595,949

  • 10c · Land, buildings and equipment, net

    beginning of year $18,951,637 · end of year $21,326,691

  • 15 · Other assets

    beginning of year $121,927 · end of year $549,290

  • 17 · Accounts payable and accrued expenses

    beginning of year $319,325 · end of year $810,046

  • 19 · Deferred revenue

    beginning of year $3,978 · end of year $20,796

  • 23 · Secured mortgages and notes payable

    beginning of year $4,981,316 · end of year $6,964,760

  • 25 · Other liabilities

    beginning of year $703,263 · end of year $630,054

  • 27 · Net assets without donor restrictions

    beginning of year $14,004,785 · end of year $13,768,846

  • 28 · Net assets with donor restrictions

    beginning of year $2,063,178 · end of year $2,092,212

Mission and programs · 2022

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 $3,058,751 · Grants $540,027 · Revenue $1,791,518

As filed on the 2022 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
    $112,209
    From this org
    $112,209
    From related orgs
    $0
    Other
    $0
    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

  • Jenn Pangburn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Javier Castaneda

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jana Blair

    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

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 $403,530 · assets $2,250,830

    Directly controlled by POLK CDC

  • RICKREALL CREEK TOWNHOMES LP

    RENTAL · OR · income $322,847 · assets $2,839,576

    Directly controlled by POLK CDC

  • POLK WALNUT MANAGEMENT LLC

    RENTAL · OR

    Directly controlled by POLK CDC

  • POLK HILLSIDE VILLA LLC

    RENTAL · OR · income $53,631 · assets $478,997

    Directly controlled by POLK CDC

  • EAST PLACE LLC

    RENTAL · OR · income $41,262 · assets $428,211

    Directly controlled by POLK CDC

  • JEN'S PLACE LLC

    RENTAL · OR · income $40,519 · assets $647,353

    Directly controlled by POLK CDC

  • BIRCHWOOD LLC

    RENTAL · OR · income $40,068 · assets $829,404

    Directly controlled by POLK CDC

  • WEAVER'S WAY LLC

    RENTAL · OR · income $89,238 · assets $1,915,933

    Directly controlled by POLK CDC

  • ASH CREEK TERRACE APARTMENTS LLC

    RENTAL · OR · income $38,787 · assets $955,664

    Directly controlled by POLK CDC

  • FIRESTONE PLACE LLC

    RENTAL · OR · income $42,597 · assets $860,042

    Directly controlled by POLK CDC

  • EL GLEN 2 LLC

    RENTAL · OR · income $40,985 · assets $1,275,473

    Directly controlled by POLK CDC

  • LEVENS STREET VETERANS HOUSING LLC

    RENTAL · OR · income $123,788 · assets $2,218,328

    Directly controlled by POLK CDC

  • WM DALLAS LLC

    RENTAL · OR

    Directly controlled by POLK CDC

  • HART LAND VETERANS HOUSING LLC

    RENTAL · OR · income $7,914

    Directly controlled by POLK CDC

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349316875

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