Overview
What is Primary Care Development Corporation?
The Primary Care Development Corporation (PCDC) is a New York-based nonprofit organization with a mission to enhance equitable access to quality primary care. Founded in 1993, PCDC achieves this by providing affordable and flexible financial products to support primary care projects and business expansions in underserved communities nationwide. Their offerings include traditional financing, New Markets Tax Credits (NMTC) financing, a Community Health Care Revolving Capital Fund, and targeted loan and financing options. With a proven track record, PCDC has experienced no loan losses and has financed over $1.42 billion of primary care projects, creating more than 6,700 construction jobs and over 12,500 permanent jobs in low-income communities. Annually, these efforts result in the creation of capacity for over 4.6 million estimated medical visits for over 1.3 million estimated patients across the US. PCDC holds certifications as a Community Development Financial Institution (CDFI) and has received top ratings for impact performance and financial strength.
Official website here: www.pcdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star rating
The Primary Care Development Corporation has received a commendable Four-Star rating from Charity Navigator, indicating a strong commitment to accountability and financial health. This high score reflects a well-managed organization, particularly highlighted by its perfect score in the area of accountability and finance, demonstrating transparency and a robust governance structure.
The organization boasts a fully independent board with 21 members, showcasing its commitment to ethical standards and diverse oversight. Additionally, it maintains thorough policies regarding conflicts of interest, whistleblower protection, and document retention, which further supports its operational integrity. The effective management of its financial resources is evident, with a program expense ratio of 80.93%, ensuring that a significant portion of its funds is directed towards its mission-related activities.
One area noted for improvement is the liabilities to assets ratio, which stands at 57.73%. While this is not a critical concern, it does suggest that the organization may have a moderate level of liabilities compared to its assets. Overall, the Primary Care Development Corporation exemplifies strong financial stewardship and governance, facilitating trust among its donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Primary Care Development Corporation legitimate?
Primary Care Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Primary Care 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: $1,996,806
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,987,068
For more financial information, click here
Official website here: www.pcdc.org
What is the mission statement of Primary Care Development Corporation?
The Primary Care Development Corporation (PCDC) is dedicated to expanding and strengthening equitable access to quality primary care. Established in 1993, PCDC achieves this goal through capital investment, practice transformation, and policy and advocacy efforts. As a certified Community Development Financial Institution (CDFI), PCDC has garnered a four-star Impact Performance Rating from Policy Plus and an AA+ Financial Strength Rating from the CDFI Rating Agency Aeris. Additionally, PCDC has obtained tax-exempt status under section 501(c)(3) of the Internal Revenue Code and is recognized as a "Publicly Supported Organization of the Type Described in Section 509(a)(1)" by the Internal Revenue Service.
Official website here: www.pcdc.org
Who is the CEO of Primary Care Development Corporation?
Louise Cohen is the Vice Chair of Primary Care Development Corporation. The CEO's salary of Primary Care Development Corporation is $378,574 and their total compensation is $399,792.
Official website here: www.pcdc.org
What is the revenue of Primary Care Development Corporation?
Primary Care Development Corporation's revenue in 2022 was $17,167,926.
Official website here: www.pcdc.org
Who are the executives of Primary Care Development Corporation and what are their salaries?
The average compensation at Primary Care Development Corporation during 2022 was $112,643. There are 62 employees and 19 volunteers at Primary Care Development Corporation.
Here are 34 key members and their salaries (Primary Care Development Corporation's CEO's salary is $378,574 and their total compensation is $399,792):
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- Compensation: $378,574
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- Other: $38,542
Official website here: www.pcdc.org
Where can I find the form 990 for Primary Care Development Corporation?
Primary Care Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.pcdc.org
Learn more at the official website: www.pcdc.org
Mission Statement of Primary Care Development Corporation
Primary Care Development Corporation (PCDC) is a mission-driven organization dedicated to building, expanding, and strengthening equitable access to quality primary care. Established in 1993, this certified Community Development Financial Institution (CDFI) has earned a four-star Impact Performance Rating with Policy Plus and an AA+ Financial Strength Rating from the CDFI Rating Agency Aeris. PCDC's work in capital investment, practice transformation, and policy and advocacy has been recognized with tax-exempt status under Section 501(c)(3) of the Internal Revenue Code and a "publicly supported organization" designation by the Internal Revenue Service. PCDC's commitment to improving primary care access is rooted in its certification as a CDFI, which enables it to provide capital and financing solutions to underinvested communities and healthcare providers. Through its practice transformation initiatives, PCDC collaborates with primary care practices to improve the quality of care, reduce disparities, and enhance patient outcomes. By engaging in policy and advocacy, PCDC also promotes systemic change to advance health equity and affordable care for all.
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Impact
October, 2024
Primary Care Development Corporation (PCDC) significantly enhances access to quality primary care, particularly in underserved communities across the U.S. By providing affordable and flexible financial products, PCDC supports primary care practices in capital investment, allowing for the growth and improvement of health facilities. This financial assistance includes traditional financing, New Markets Tax Credits, and targeted loan options that help practices expand their services and reach.
Since its inception in 1993, PCDC has financed over $1.42 billion in primary care projects, transforming more than 2.6 million square feet of healthcare space. This investment has led to the creation of over 6,700 construction jobs and the preservation or creation of more than 12,500 permanent positions in low-income areas. As a result, PCDC has enabled capacity for approximately 4.6 million medical visits annually for over 1.3 million patients, greatly impacting healthcare accessibility and quality.
Certified as a Community Development Financial Institution (CDFI), PCDC is recognized for its strong financial performance and impactful investment strategies. Its commitment to practice transformation and policy advocacy further supports the sustainability and growth of primary care services, promoting equitable health outcomes for diverse communities.
This information is meant to be a general summary of Primary Care 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: $273,568
- Program Service Revenue: $10,426,466
- Gross Receipts: $18,058,469
Assets and Liabilities:
- Total Assets: $131,968,263
- Total Liabilities: $73,259,375
- Net Assets: $58,708,888
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$7,021,518
INTEREST ON LOANS
Revenue
$3,404,948
Organization Details
Founding Year
1993
Phone
(212) 437-3940Principal Officer
Louise Cohen
Main Address
45 BROADWAY SUITE 530, NEW YORK, NY, 10006
Website
www.pcdc.orgNTEE Category
Code: E800 - Health
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