Overview
What is Community Partnership Development Corporation?
Community Partnership Development Corporation (CPDC) is a not-for-profit organization based in New York City, functioning as a Certified Community Development Financial Institution (CDFI). Founded with the aim of alleviating governmental burdens and acting in the public interest, CPDC promotes employment and reduces unemployment. The organization provides funding assistance through the CPDC New York City Department of Housing Preservation and Development (HPD)/Urban Development Action Grant (UDAG) Loan Fund, its own Seed Loan Fund, and Seed Loans from the New York State Division of Housing and Community Renewal (DHCR). These funds support small, minority-owned, and women-owned builders, helping them cover development and predevelopment costs. Additionally, CPDC was designated as a Community Housing Development Organization (CHDO) in 2009, enabling it to access funding through the DHCR. The primary purpose of CPDC is to aid in the development of housing sites throughout New York City by administering loans to cover certain development costs.
Official website here: www.housingpartnership.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76%, Three-Star out of Four Star Rating
The Community Partnership Development Corporation has received a 76% rating from Charity Navigator, indicating a moderate level of accountability and financial health. The rating is based solely on the Accountability & Finance beacon, which highlights the organization’s commitment to maintaining a majority independent board and efficient use of its resources, with a program expense ratio of 89.82%. This suggests that a significant portion of its budget is directed towards its programs, a positive sign for potential donors.
However, the organization has some notable limitations. It lacks essential policies such as a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which has impacted its overall accountability score. The absence of these policies signifies a potential risk in governance practices that could affect transparency and ethical standards.
Despite these challenges, the organization does maintain a solid structure with 58% of its board being independent and a low liabilities to assets ratio of 39.69%, which indicates sound financial management. While there are areas for improvement, particularly in governance policies, the Community Partnership Development Corporation demonstrates a responsible approach to its mission and financial stewardship.
This AI summary has been generated from information found on Charity Navigator.
Is Community Partnership Development Corporation legitimate?
Community Partnership Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Partnership Development 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.housingpartnership.com
What is the mission statement of Community Partnership Development Corporation?
The Community Partnership Development Corporation's mission is to serve in the public interest, alleviate governmental burden, and foster employment opportunities. By operating as a not-for-profit local development corporation, it aims to enhance and maintain job prospects, reducing and relieving unemployment. The organization administers loans to cover development costs associated with housing projects in various locations. It manages funds such as the CPDC New York City Department of Housing Preservation and Development (HPD)/Urban Development Action Grant (UDAG) Loan Fund, its own Seed Loan Fund, and Seed Loans from the New York State Division of Housing and Community Renewal (DHCR). These funds support the predevelopment work of housing sites, particularly for small, minority-owned, and women-owned builders. The corporation, designated as a Community Housing Development Organization (CHDO) in 2009, can access additional funding through the Division of Housing and Community Renewal, which it then distributes to designated organizations.
Official website here: www.housingpartnership.com
Who is the CEO of Community Partnership Development Corporation?
Adam Gold is the President & Ceo Eff. 7/18/22 of Community Partnership Development Corporation. The CEO's salary of Community Partnership Development Corporation is $0 and their total compensation is $152,996.
Official website here: www.housingpartnership.com
What is the revenue of Community Partnership Development Corporation?
Community Partnership Development Corporation's revenue in 2022 was $89,780.
Official website here: www.housingpartnership.com
Who are the executives of Community Partnership Development Corporation and what are their salaries?
There 8 volunteers at Community Partnership Development Corporation.
Here are 15 key members and their salaries (Community Partnership Development Corporation's CEO's salary is $0 and their total compensation is $152,996):
- Compensation: $0
- Related: $139,427
- Other: $13,569
- Compensation: $0
- Related: $209,364
- Other: $14,371
- Compensation: $0
- Related: $286,412
- Other: $46,209
- Compensation: $0
- Related: $181,730
- Other: $27,853
- 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: $50,338
- Other: $12,616
- Compensation: $0
- Related: $253,604
- Other: $37,784
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.housingpartnership.com
Where can I find the form 990 for Community Partnership Development Corporation?
Community Partnership Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.housingpartnership.com
Learn more at the official website: www.housingpartnership.com
Mission Statement of Community Partnership Development Corporation
Community Partnership Development Corporation, or CPDC, is a local development corporation with a mission to alleviate government burden, act in the public interest, and promote employment opportunities. Their primary goal is to increase and maintain job opportunities, thereby reducing unemployment. As a certified Community Development Financial Institution (CDFI), CPDC administers loans to cover development costs incurred in various sites throughout New York City. One of their significant initiatives is the CPDC New York City Department of Housing Preservation and Development (HPD)/Urban Development Action Grant (UDAG) Loan Fund, which assists small, minority-owned, and women-owned builders in covering development and predevelopment costs. CPDC also manages its own Seed Loan Fund and Seed Loans from the New York State Division of Housing and Community Renewal (DHCR) to support the predevelopment work of housing sites. In 2009, CPDC was designated a Community Housing Development Organization (CHDO), enabling it to access funding through the DHCR, which they then distribute to designated organizations.
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Impact
October, 2024
Community Partnership Development Corporation (CPDC) has a significant impact on housing development in New York City by serving as a vital financial intermediary that supports small, minority-owned, and women-owned builders. Through its administration of various loan programs, including the Urban Development Action Grant (UDAG) loan fund, CPDC provides essential funding to help cover the development and predevelopment costs of housing projects across the city.
By facilitating access to capital, CPDC empowers local builders to undertake housing projects that might otherwise be financially unfeasible. This support not only contributes to increasing the housing stock in New York City but also promotes economic growth by enhancing job opportunities within the community. CPDC’s status as a certified Community Development Financial Institution (CDFI) and its designation as a Community Housing Development Organization (CHDO) further enable it to channel state and city resources effectively to organizations that are committed to addressing housing challenges.
The organization's mission to lessen the burden on government and act in the public interest aligns with its goal of promoting employment and reducing unemployment. By focusing on community-driven development and supporting diverse builders, CPDC plays an essential role in fostering inclusive and sustainable neighborhoods, making a lasting positive impact on the lives of residents in New York City.
This information is meant to be a general summary of Community Partnership Development 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 2022.
- Investment Income: $20,523
- Program Service Revenue: $69,257
- Gross Receipts: $89,780
Assets and Liabilities:
- Total Assets: $4,519,888
- Total Liabilities: $1,794,147
- Net Assets: $2,725,741
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$69,257
Organization Details
Founding Year
1989
Phone
(646) 217-3370Principal Officer
Adam Gold
Main Address
253 WEST 35TH STREET 3RD FLOOR, NEW YORK, NY, 100011913
Website
www.housingpartnership.comNTEE Category
Code: L20K - Housing
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