The Community Preservation Corporation

Organization Overview

The Community Preservation Corporation is located in New York, NY. The organization was established in 1974. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Community Preservation Corporation employed 166 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Preservation Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2021, Community Preservation Corporation generated $65.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $66.3m during the year ending 06/2021. While expenses have increased by 7.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2016, Community Preservation Corporation has awarded 111 individual grants totaling $3,322,330. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO COMBAT COMMUNITY DETERIORATION, PROMOTE THE GENERAL WELFARE, AND LESSEN THE BURDENS OF GOVERNMENT BY PROVIDING FINANCING FOR LOW & MODERATE INCOME HOUSING.

Describe the Organization's Program Activity:

THE COMMUNITY PRESERVATION CORPORATION (CPC) IS A PRIVATE NOT-FOR-PROFIT MORTGAGE LENDER AND INVESTOR SPECIALIZING IN THE FINANCING OF LOW AND MODERATE INCOME HOUSING, INCLUDING ENVIRONMENTALLY SUSTAINABLE HOUSING. CPC'S MISSION IS TO WORK WITH GOVERNMENT TO PRESERVE AND DEVELOP AFFORDABLE HOUSING IN NEW YORK AND, TO A LESSER EXTENT, ELSEWHERE. IN ITS 47 YEARS OF EXISTENCE, CPC HAS FINANCED THE REHABILITATION OR CONSTRUCTION OF 190,486 AFFORDABLE HOUSING UNITS. DURING THE YEAR ENDED JUNE 30, 2021, CPC ORIGINATED $937,000,000 OF PUBLIC AND PRIVATE FUNDS REPRESENTING FINANCING ON 8,200 UNITS.


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Board, Officers & Key Employees

Name (title)Compensation
Rafael E Cestero
President & Ceo, Director
$1,149,749
John M Cannon
Exec Vice President
$554,982
David Rothberg
Exec Vice President & CFO
$548,362
Timothy Deegan
Vice President
$495,215
William C Russo IV
Senior Vice President
$482,004
Sarah J Singman
Exec Vice President
$478,811

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Cohn Reznick Llp
Accounting
$430,128
Mccracken Financial Solutions Corp
Information Technology
$326,751
Infer Solutions Inc
Information Technology
$579,596
Computer Systems And Methods
Information Technology
$364,310
Ibm Corporation
Information Technology
$681,456
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,472
All other contributions, gifts, grants, and similar amounts not included above$100,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$101,472
Total Program Service Revenue$51,770,445
Investment income $4,122,787
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $9,844,896
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $65,839,600

Grants Awarded

Over the last fiscal year, The Community Preservation Corporation has awarded $151,125 in support to 16 organizations.

Grant RecipientAmount

HOUSING ACTION COUNCIL

Org PageRecipient Profile

Tarrytown, NY

PURPOSE: GENERAL SUPPORT

$40,000

COMMUNITY DESIGN CENTER ROCHESTER INC

Org PageRecipient Profile

Rochester, NY

PURPOSE: GENERAL SUPPORT

$11,290

MID HUDSON PATTERN FOR PROGRESS INC

Org PageRecipient Profile

Newburgh, NY

PURPOSE: GENERAL SUPPORT

$10,000

COMMUNITY LEAGUE OF THE HEIGHTS

Org PageRecipient Profile

New York, NY

PURPOSE: GENERAL SUPPORT

$10,000

COMMUNITY CAPITAL NEW YORK INC

Org PageRecipient Profile

Elmsford, NY

PURPOSE: GENERAL SUPPORT

$10,000

CITIZENS HOUSING & PLANNING COUNCIL OF NEW YORK INC

Org PageRecipient Profile

New York, NY

PURPOSE: GENERAL SUPPORT

$10,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that The Community Preservation Corporation has recieved totaling $100,000.

Awarding OrganizationAmount
Goldman Sachs Foundation

New York, NY

PURPOSE: GRANT TO SUPPORT COVID-19 RELIEF EFFORTS IN NYC.

$100,000
View Grant Recipient Profile

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