Pawtucket Central Falls Development Corporation
Pawtucket Central Falls Development Corporation
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About this organization
About
PAWTUCKET CITIZENS DEVELOPMENT CORPORATION (PCDC) WAS FORMED IN 1990 AND REALTY ENDEAVORS FOR AFFORDABLE COMMUNITY HOUSING, INCORPORATED (REACH) WAS FORMED IN DECEMBER 1988. BOTH ARE NONPROFIT, NONSTOCK RHODE ISLAND CORPORATIONS. PCDC AND REACH WERE FORMED TO EXPAND THE HOUSING OPPORTUNITIES FOR LOW AND MODERATE-INCOME FAMILIES WITHIN THE CITIES OF PAWTUCKET AND CENTRAL FALLS, RHODE ISLAND. ON JULY 1, 2014 THE TWO ORGANIZATIONS WERE MERGED WITH THE SURVIVING CORPORATION RENAMED PAWTUCKET CENTRAL FALLS DEVELOPMENT CORPORATION (THE ORGANIZATION). PCDC HOMES, LLC (PCDC HOMES) BEGAN OPERATING ON JULY 1, 2011. PCDC HOMES PURPOSE IS TO PURCHASE AND REHABILITATE DETERIORATED BUILDINGS AND TO CONSTRUCT NEW BUILDINGS IN ORDER TO PROVIDE AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME FAMILIES. ON JULY 1, 2015, RRIC, LPLLC (RRIC) WAS FORMED TO CONSOLIDATE THE RENTAL OPERATIONS OF SEVERAL PROPERTIES. THIS INCLUDED THE PROPERTIES FORMERLY OWNED AS CENTENNIAL HOUSES AND IZANNAH WALKER L.P. IN ADDITION, OTHER PROPERTIES OWNED BY THE ORGANIZATION WERE CONTRIBUTED TO RRIC. THE ORGANIZATION PROVIDES AFFORDABLE HOUSING THROUGH FEDERAL GRANTS UNDER THE FOLLOWING HOME INVESTMENT PARTICIPATION PROGRAMS: RENTAL REHABILITATIONS: THE ORGANIZATION ACQUIRES AND REHABILITATES MULTIFAMILY HOUSES WHICH ARE SUBSEQUENTLY MADE AVAILABLE FOR RENT TO QUALIFIED FAMILIES. THESE UNITS ARE RENTED ON A ONE-YEAR LEASE BASIS AND ARE MANAGED BY A PROPERTY MANAGEMENT COMPANY. HOME OWNERSHIP PROGRAM: A COMPREHENSIVE PROGRAM THAT INCLUDES (I) THE DELIVERY OF BILINGUAL PRE-PURCHASE AND POST-PURCHASE HOMEBUYER EDUCATION PROGRAMS AND (II) ACQUISITION AND REHABILITATION OF HOMES FOR RESALE TO INCOME QUALIFIED FAMILIES, GENERALLY BELOW COST, WITH THE USE OF FEDERAL GRANTS.
Interesting data from their 2019 990 filing
The purpose of the non-profit, as set forth in the filing, is “Improve the lives of area residents through the development of high quality affordable housing and neighborhood revitalization.”.
When discussing its purpose, they were characterized as: “Provide affordable housing”.
- The state in which the non-profit is legally authorized to operate is RI, as reported.
- The filing confirms that the non-profit's address in 2019 was 204 BROAD ST, PAWTUCKET, RI, 02860.
- The form of the non-profit reports 0 employees as of 2019.
- Is not a private foundation.
- Expenses are between $500,000 and $1,000,000+.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $187,335.
- The organization has 13 independent voting members.
- The organization was formed in 1994.
- The organization pays $636,103 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.