Overview
What is Petersburg Community Development Corporation Inc?
Petersburg Community Development Corporation Inc, located in Richmond, Virginia, is a dedicated nonprofit organization. Its primary mission is to improve community livability by constructing or refurbishing affordable housing and offering educational resources to homeowners. This corporation strives to create vibrant and healthy communities by developing and owning affordable housing units, catering to families, seniors, and individuals with disabilities, who are in need of quality housing opportunities. The organization's efforts aim to provide these individuals with a safe and affordable living space.
Official website here: www.petersburgcdc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 72%, Two-Star out of Four Star rating.
Petersburg Community Development Corporation Inc has received a Two-Star rating from Charity Navigator, reflecting a score of 72%. This rating indicates that while the organization demonstrates some accountability and transparency, there are areas needing improvement. Notably, the organization excels in maintaining a majority of independent board members and has no material diversion of assets, which enhances its credibility.
Strengths of the organization include a solid program expense ratio of 80.73%, indicating that a significant portion of its funds is directed towards its programs. Additionally, the charity adheres to policies regarding conflict of interest and provides board meeting minutes, fostering trust and transparency among stakeholders. However, the absence of a whistleblower policy and a document retention policy raises concerns about governance practices.
Despite these strengths, the liabilities to assets ratio of 64.19% suggests potential financial vulnerability, which could impact the organization's long-term stability. Overall, while Petersburg Community Development Corporation Inc shows promise in certain areas, addressing its governance gaps and financial health will be crucial for improving its overall rating and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Petersburg Community Development Corporation Inc legitimate?
Petersburg Community Development Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Petersburg Community Development Corporation Inc 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: $25,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.petersburgcdc.com
What is the mission statement of Petersburg Community Development Corporation Inc?
The Petersburg Community Development Corporation Inc's mission is centered around enhancing community vitality. They strive to achieve this by actively developing and owning affordable housing units for families, senior citizens, and individuals with disabilities who require access to quality housing opportunities. This organization is committed to improving the living conditions of those in need, aiming to construct or refurbish affordable housing units and provide educational assistance to homeowners.
Official website here: www.petersburgcdc.com
Who is the CEO of Petersburg Community Development Corporation Inc?
James Hendricks is the Pres./Sec./Treas. of Petersburg Community Development Corporation Inc.
Official website here: www.petersburgcdc.com
What is the revenue of Petersburg Community Development Corporation Inc?
Petersburg Community Development Corporation Inc's revenue in 2022 was $32,200.
Official website here: www.petersburgcdc.com
Who are the executives of Petersburg Community Development Corporation Inc and what are their salaries?
There 1 volunteer at Petersburg Community Development Corporation Inc.
Here are 5 key members and their salaries:
- Compensation: $10,000
- Related: $0
- Other: $0
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.petersburgcdc.com
Where can I find the form 990 for Petersburg Community Development Corporation Inc?
Petersburg Community Development Corporation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.petersburgcdc.com
Learn more at the official website: www.petersburgcdc.com
Mission Statement of Petersburg Community Development Corporation Inc
Petersburg Community Development Corporation Inc, as a nonprofit organization, is dedicated to cultivating vibrant and healthy communities by developing and owning affordable housing options for families, senior citizens, and individuals with disabilities who require access to quality housing opportunities. Their mission is to address the need for affordable housing, recognizing its importance in promoting dynamic and thriving communities. The corporation undertakes the construction or renovation of affordable housing units and provides assistance to homeowners, striving to make these opportunities more accessible. By doing so, Petersburg Community Development Corporation Inc plays a significant role in improving the living conditions of its intended beneficiaries, ultimately contributing to the overall well-being of the communities they serve.
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Impact
August, 2024
Petersburg Community Development Corporation Inc cultivates dynamic and healthy communities by developing and owning affordable housing for families, seniors, and people with disabilities in need of quality housing opportunities. Through erecting or rehabilitating affordable housing and providing assistance in educating homeowners, their impact is significant in addressing housing needs in Richmond, VA. Their work directly improves the lives of individuals and families by offering them a secure and stable place to call home, contributing to the overall improvement of the community and the well-being of its residents.
This information is meant to be a general summary of Petersburg Community Development Corporation Inc. 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.
- Gross Receipts: $32,200
Assets and Liabilities:
- Total Assets: $697,855
- Total Liabilities: $447,962
- Net Assets: $249,893
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Organization Details
Founding Year
1990
Phone
(804) 420-6458Principal Officer
James Hendricks
Main Address
200 SOUTH 10TH STREET SUITE 1600, RICHMOND, VA, 23219
Website
www.petersburgcdc.comNTEE Category
Code: S31Z - Community improvement
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