Overview
What is Pidc-Community Capital?
Pidc-Community Capital is a community development financial institution based in Philadelphia, Pennsylvania. Its primary mission is to contribute to the revitalization of underserved neighborhoods by providing financial investments and technical assistance. By leveraging resources, creating jobs, supporting small businesses, eliminating blight, and delivering essential goods and services to low-income communities, Pidc-Community Capital strives to build sustainable neighborhoods. It achieves its mission through investments in various projects, such as the One Market Tax Credit (NMTC) program, which attracts private-sector capital to low-income areas and creates quality jobs. In 2022, it allocated $35.6 million in NMTC to six high-impact projects in Philadelphia. One of Pidc-Community Capital's recent investments was in H&M Care, a home care support services business, which plans to renovate a former funeral home and adjacent lot in Southwest Philadelphia to create an affordable senior housing facility with an urgent care facility and pharmacy. The project, which will employ nearly 20 full-time individuals, will bring essential medical services to an underserved area. Pidc-Community Capital's funding was a crucial component of the project, filling a necessary financial gap.
Official website here: www.pidcphila.com
Is Pidc-Community Capital legitimate?
Pidc-Community Capital is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pidc-Community Capital 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.pidcphila.com
What is the mission statement of Pidc-Community Capital?
Pidc-Community Capital, as a community development financial institution, aims to attract resources for community lending and technical assistance in underserved neighborhoods. Its mission, in essence, is to foster sustainable communities by making investments that create employment opportunities, support small businesses, leverage external capital, eliminate blight, and provide essential goods and services to low-income communities across various parts of a city. Pidc-Community Capital achieves this mission by deploying capital and business support services to underprivileged areas.
Official website here: www.pidcphila.com
What is the revenue of Pidc-Community Capital?
Pidc-Community Capital's revenue in 2023 was $7,672,949.
Official website here: www.pidcphila.com
Who are the executives of Pidc-Community Capital and what are their salaries?
There 4 volunteers at Pidc-Community Capital.
Here are 8 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Related: $83,676
- Other: $1,712
- Compensation: $0
- Related: $279,745
- Other: $57,124
- Compensation: $0
- Related: $237,312
- Other: $60,854
- Compensation: $0
- Related: $188,040
- Other: $22,126
Official website here: www.pidcphila.com
Where can I find the form 990 for Pidc-Community Capital?
Pidc-Community Capital's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.pidcphila.com
Learn more at the official website: www.pidcphila.com
Mission Statement of Pidc-Community Capital
Pidc-Community Capital, as a Community Development Financial Institution, was established with the purpose of drawing in resources for community lending and technical assistance in underserved neighborhoods. The organization's mission, in its own words, is to construct sustainable neighborhoods by making investments that generate jobs, stimulate the growth of small businesses, attract outside capital, eliminate blight, and provide essential goods and services to low-income communities throughout Philadelphia. Pidc-Community Capital achieves this objective by deploying capital and business support services to underserved areas, thereby contributing to the overall development and improvement of these neighborhoods.
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Impact
October, 2024
Pidc-Community Capital plays a crucial role in revitalizing underserved neighborhoods by providing financing and technical assistance for community development. Its emphasis on high-impact projects is exemplified through the New Markets Tax Credit (NMTC) program, which stimulates private sector investment in low-income areas across Philadelphia. By facilitating access to federal tax credits, Pidc-Community Capital attracts critical resources that promote economic growth and job creation.
The organization has successfully allocated substantial NMTC allocations—totaling over $418 million from 2007 to 2022—supporting transformative projects that enhance community welfare. A notable project involves H&MCare, a Black- and immigrant-owned home care service, which is developing a mixed-use healthcare facility in a medically underserved area. This project is set to provide urgent care and pharmacy services alongside affordable senior housing for more than 22 residents, simultaneously generating nearly 20 full-time jobs.
Beyond specific projects, Pidc-Community Capital's broader mission focuses on building sustainable neighborhoods by investing in initiatives that erase blight, support small businesses, and ensure the availability of essential goods and services. Through its strategic deployment of capital and business support services, the organization is instrumental in fostering lasting improvements in Philadelphia's low-income communities.
This information is meant to be a general summary of Pidc-Community Capital. 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: $1,825,085
- Program Service Revenue: $2,640,560
- Gross Receipts: $7,672,949
Assets and Liabilities:
- Total Assets: $73,782,065
- Total Liabilities: $40,411,625
- Net Assets: $33,370,440
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NW MKT TAX CR PRG FEES
Revenue
$2,189,472
ECONOMIC DEVELOPMENT
Revenue
$451,088
Organization Details
Founding Year
1957
Principal Officer
Jodie Harris
Website
www.pidcphila.comNTEE Category
Code: S31Z - Community improvement
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