Power Center Development Corporation
- Assets
- $372.5k
- Revenue
- $22.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Memphis, TN
- Founding
- Data as of
- 12/2023
- EIN
- 20-1578885
Organization Overview
Power Center Development Corporation is located in Memphis, TN. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Power Center Development 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 12/2023, Power Center Development Corporation generated $22.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (37.5%) each year. All expenses for the organization totaled $27.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (30.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE POWER CENTER IS TO RESTORE THE ECONOMIC, EDUCATIONAL, AND SOCIAL FOUNDATION OF HICKORY HILL THROUGH SUSTAINABLE URBAN DEVELOPMENT AND EMPOWERING INITIATIVES DESIGNED TO INSTILL HOPE, PRIDE, AND A SENSE OF COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
USING $40,000 IN AWARDED GRANT FUNDS FROM THE BUILD HEALTHY PLACES NETWORKSS CIRE THE COMMUNITY INNOVATIONS FOR RACIAL EQUITY (CIRE) INITIATIVE WHICH FOCUSED ON BUILDING LOCAL BIPOC-LED COMMUNITY DEVELOPMENT CAPACITY, SUPPORTING COMMUNITY POWER, EXPLORING INNOVATIVE COMMUNITY OWNERSHIP MODELS, AND ADDRESSING THE BARRIERS AND GAPS WITHIN COMMUNITY DEVELOPMENT AND HEALTH PARTNERSHIPS TO EFFECTIVELY PROPEL RACIAL EQUITY. WE ESTABLISHED PARTNERSHIP WITH NDCC TO LAUNCH A WELLNESS MENTAL HEALTH FUND TO INCREASE AWARENESS OF THE BENEFITS OF MENTAL HEALTH IN THE BLACK COMMUNITY BY PROVIDING FREE, DIRECT ACCESS TO ONE-ON-ONE MENTAL HEALTH COUNSELING SESSIONS. HIGHLIGHTS OF OUR RECENT INITIATIVES INCLUDE THE PARTICIPATION OF 93 INDIVIDUALS IN THE SUMMER 2023 HDCC PARTNERSHIP CIRE PRE-ASSESSMENT SURVEY, WHICH HELPS US EVALUATE PROGRAM EFFECTIVENESS. OUR BOARD TOOK SIGNIFICANT STEPS BY HIRING A GRANT COORDINATOR, CREATING AN ONBOARDING PROCESS FOR PARTICIPANTS, AND RECRUITING AND ONBOARDING 20 THERAPISTS. INITIALLY, 51 PEOPLE SIGNED UP FOR THE PROGRAM, AND AS OF JULY 30, 2024, 30 INDIVIDUALS HAVE RECEIVED UP TO 8 FREE, PERSONALIZED COUNSELING SESSIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raushanah Morgan Board President/treasurer | $0 | ||
Dr Stacey L Spencer Board Chairman Emeritus | $0 | ||
Patrick Carter III Board Member | $0 | ||
Brody Wamble Board Vp/secretary | $0 | ||
Chet Jackson Board Advisor | $0 | ||
Marquetta Nebo Board Member | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,200 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,200 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,250 |
| Advertising and promotion | $290 |
| Office expenses | $2,344 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $6,540 |
| Total functional expenses | $27,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $174,522 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $198,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $372,522 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $70,200 |
| Other liabilities | $0 |
| Total liabilities | $70,200 |
| Net assets without donor restrictions | $302,322 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $372,522 |