Overview
What is The Community Preservation Corporation?
The Community Preservation Corporation (CPC) is a New York-based, private not-for-profit mortgage lender and investor, committed to financing low and moderate income housing. With a mission to preserve and develop affordable housing in New York, and to a lesser extent, elsewhere, CPC has played a significant role in the rehabilitation or construction of approximately 194,328 affordable housing units throughout its 48-year history. During the fiscal year ended June 30, 2022, CPC originated $419,263,378 in public and private funds for financing on 3,842 units. By providing debt and/or equity financing for low and moderate income housing, CPC aims to combat community deterioration, promote general welfare, and alleviate the burdens on government.
Official website here: www.communityp.com
What are the reviews and ratings of this charity?
Charity Navigator rating: 81% (Three-Star out of Four Star Rating)
The Community Preservation Corporation has earned an 81% rating from Charity Navigator, reflecting a strong focus on accountability and finance. This score is supported by a range of indicators, including a high percentage of independent board members and the presence of essential financial oversight practices. The organization demonstrates a solid commitment to transparency with a conflict of interest policy, whistleblower policy, and document retention protocols all in place.
Strengths highlighted in the evaluation include a program expense ratio of 83.34%, indicating efficient use of funds towards its mission. Additionally, the organization reported no material diversion of assets, reinforcing its reliability in managing financial resources. Such financial discipline suggests that it is well-positioned to sustain its operations and achieve its community goals effectively.
However, the overall score reflects a singular focus on financial accountability without additional beacons that may indicate program impact or outcomes. While the financial data is strong, prospective donors and stakeholders may benefit from more comprehensive insights into the organization’s programmatic effectiveness and long-term impact on the communities it serves.
This AI summary has been generated from information found on Charity Navigator.
Is The Community Preservation Corporation legitimate?
The Community Preservation Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Community Preservation Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $16,545,360
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,802,479
For more financial information, click here
Official website here: www.communityp.com
What is the mission statement of The Community Preservation Corporation?
The Community Preservation Corporation (CPC) is a not-for-profit organization that focuses on combating community deterioration and promoting general welfare by providing financing for low and moderate income housing. CPC's mission is to lessen the burdens of government and preserve and develop affordable housing through debt and equity financing. Over the course of its 48-year history, CPC has played a significant role in financing the rehabilitation or construction of over 194,000 affordable housing units in the US. In the year ending June 30, 2022, CPC originated $419 million in funds, representing financing for 3,842 units.
Official website here: www.communityp.com
Who is the CEO of The Community Preservation Corporation?
Rafael E Cestero is the CEO of The Community Preservation Corporation The CEO's salary of The Community Preservation Corporation is $1,474,712 and their total compensation is $1,555,740.
Official website here: www.communityp.com
What is the revenue of The Community Preservation Corporation?
The Community Preservation Corporation's revenue in 2023 was $77,918,946.
Official website here: www.communityp.com
Who are the executives of The Community Preservation Corporation and what are their salaries?
The average compensation at The Community Preservation Corporation during 2023 was $131,739. There are 200 employees at The Community Preservation Corporation.
Here are 81 key members and their salaries (The Community Preservation Corporation's CEO's salary is $1,474,712 and their total compensation is $1,555,740):
- Compensation: $1,474,712
- Related: $0
- Other: $81,028
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $246,181
- Related: $496,492
- Other: $78,455
- Compensation: $733,334
- Related: $0
- Other: $81,028
- Compensation: $212,048
- Related: $417,282
- Other: $76,146
- Compensation: $526,527
- Related: $271
- Other: $83,378
- Compensation: $513,466
- Related: $0
- Other: $82,604
- Compensation: $493,966
- Related: $0
- Other: $60,874
- Compensation: $489,682
- Related: $252
- Other: $39,813
- Compensation: $451,222
- Related: $0
- Other: $68,847
- Compensation: $108,996
- Related: $332,788
- Other: $41,457
- Compensation: $115,229
- Related: $248,817
- Other: $72,319
- Compensation: $359,293
- Related: $0
- Other: $1,014
- Compensation: $317,677
- Related: $0
- Other: $67,537
- Compensation: $314,453
- Related: $0
- Other: $74,743
- Compensation: $312,563
- Related: $0
- Other: $72,972
- Compensation: $311,470
- Related: $0
- Other: $72,495
- Compensation: $309,542
- Related: $119
- Other: $78,730
- Compensation: $301,155
- Related: $0
- Other: $74,548
- Compensation: $287,095
- Related: $0
- Other: $70,405
- Compensation: $279,630
- Related: $0
- Other: $71,732
- Compensation: $277,437
- Related: $0
- Other: $76,829
- Compensation: $269,308
- Related: $138
- Other: $67,997
- Compensation: $261,860
- Related: $135
- Other: $39,463
- Compensation: $92,356
- Related: $166,857
- Other: $25,382
- Compensation: $258,450
- Related: $0
- Other: $54,446
- Compensation: $97,005
- Related: $158,115
- Other: $45,432
- Compensation: $247,858
- Related: $0
- Other: $5,064
- Compensation: $244,746
- Related: $0
- Other: $18,291
- Compensation: $85,297
- Related: $156,112
- Other: $60,167
- Compensation: $240,891
- Related: $0
- Other: $27,778
- Compensation: $237,445
- Related: $0
- Other: $38,322
- Compensation: $75,158
- Related: $156,851
- Other: $58,170
- Compensation: $230,740
- Related: $0
- Other: $66,463
- Compensation: $224,828
- Related: $91
- Other: $72,432
- Compensation: $223,046
- Related: $0
- Other: $36,349
- Compensation: $221,023
- Related: $0
- Other: $52,249
- Compensation: $212,234
- Related: $6,593
- Other: $52,283
- Compensation: $218,671
- Related: $0
- Other: $26,927
- Compensation: $194,738
- Related: $0
- Other: $69,182
- Compensation: $191,632
- Related: $0
- Other: $9,062
- Compensation: $191,314
- Related: $0
- Other: $22,840
- Compensation: $190,882
- Related: $98
- Other: $14,474
- Compensation: $190,841
- Related: $0
- Other: $61,757
- Compensation: $187,612
- Related: $0
- Other: $24,885
- Compensation: $176,650
- Related: $0
- Other: $33,003
- Compensation: $175,881
- Related: $0
- Other: $31,897
- Compensation: $78,586
- Related: $92,830
- Other: $27,014
- Compensation: $162,525
- Related: $0
- Other: $54,268
- Compensation: $162,169
- Related: $0
- Other: $58,114
- Compensation: $158,547
- Related: $0
- Other: $19,858
- Compensation: $154,066
- Related: $0
- Other: $24,591
- Compensation: $146,201
- Related: $0
- Other: $45,615
- Compensation: $120,198
- Related: $0
- Other: $45,648
- Compensation: $118,746
- Related: $0
- Other: $50,610
- Compensation: $98,858
- Related: $0
- Other: $7,058
- Compensation: $98,824
- Related: $0
- Other: $9,814
- Compensation: $60,189
- Related: $0
- Other: $4,282
- Compensation: $50,889
- Related: $0
- Other: $7,084
- Compensation: $48,874
- Related: $25
- Other: $270
- Compensation: $47,546
- Related: $25
- Other: $4,834
- Compensation: $41,958
- Related: $0
- Other: $6,325
- Compensation: $41,941
- Related: $0
- Other: $5,863
- Compensation: $34,986
- Related: $0
- Other: $14,418
- Compensation: $24,781
- Related: $0
- Other: $3,931
- Compensation: $274,315
- Related: $141
- Other: $42,904
- Compensation: $79,306
- Related: $175,711
- Other: $17,255
- Compensation: $79,097
- Related: $155,966
- Other: $61,515
- Compensation: $74,198
- Related: $135,463
- Other: $16,252
- Compensation: $208,520
- Related: $107
- Other: $50,797
Official website here: www.communityp.com
Where can I find the form 990 for The Community Preservation Corporation?
The Community Preservation Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.communityp.com
Learn more at the official website: www.communityp.com
Mission Statement of The Community Preservation Corporation
The Community Preservation Corporation (CPC) is a leading private not-for-profit mortgage lender and investor, dedicated to preserving and developing affordable housing for low and moderate-income individuals. With a mission to combat community deterioration and promote the general welfare, CPC strives to lessen the burdens of government by providing both debt and equity financing for affordable housing projects.
Founded over 48 years ago, the organization has made significant strides in its mission, rehabilitating or constructing an impressive total of 194,328 affordable housing units throughout its existence. The Community Preservation Corporation's work extends beyond the borders of New York, although its primary focus lies in this region.
During the fiscal year ended June 30, 2022, CPC successfully originated $419,263,378 in public and private funds, enabling financing for 3,842 affordable housing units. This achievement underscores the organization's commitment to continuing its essential role in providing access to safe and affordable housing for those who need it most. By collaborating with government entities and leveraging the power of financial resources, The Community Preservation Corporation plays a pivotal role in ensuring that low and moderate-income households have a stable foundation upon which to build their lives.
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Impact
October, 2024
The Community Preservation Corporation has made a significant impact on affordable housing and urban development, particularly in New York. By financing the rehabilitation and construction of 194,328 affordable housing units over the past 48 years, it has directly addressed community deterioration and promoted general welfare. In the fiscal year ending June 30, 2022, the organization originated over $419 million in funding, facilitating the development of nearly 3,842 housing units.
Its mission to lessen the burdens of government while working alongside public entities has been instrumental in creating sustainable, low- to moderate-income housing. This not only helps combat housing insecurity but also contributes to the revitalization of neighborhoods, fostering community stability and economic growth. Through targeted financing efforts, The Community Preservation Corporation continues to play a vital role in ensuring that access to affordable housing remains a priority in urban planning and development.
This information is meant to be a general summary of The Community Preservation Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $12,402,067
- Program Service Revenue: $57,620,416
- Gross Receipts: $144,114,381
Assets and Liabilities:
- Total Assets: $1,525,690,659
- Total Liabilities: $1,279,180,819
- Net Assets: $246,509,840
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MORTGAGE LOAN INTEREST
Revenue
$36,352,267
NET RENTAL INCOME
Revenue
$7,868,127
SERVICING FEES
Revenue
$4,622,361
GAIN ON SALE OF LOANS
Revenue
$2,615,613
MORTGAGE LOAN COMMITMENT FEES
Revenue
$2,351,008
Organization Details
Founding Year
1974
Principal Officer
Rafael E Cestero
Website
www.communityp.comNTEE Category
Code: S200 - Community improvement
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