Valley Community Development Corporation
- Assets
- $27.0m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Northampton, MA
- Founding
- 05/1989
- Data as of
- 06/2023
- EIN
- 22-2906466
Organization Overview
Valley Community Development Corporation is located in Northampton, MA. The organization was established in 1989. According to its NTEE Classification (L30) the organization is classified as: Housing Search Assistance, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Community 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 06/2023, Valley Community Development Corporation generated $4.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $2.4m during the year ending 06/2023. 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
VALLEY COMMUNITY DEVELOPMENT BUILDS SOCIAL EQUITY BY EXPANDING HOUSING AND SMALL BUSINESS OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL PROPERTIES- PROVIDES PERMANENT AFFORDABLE RENTAL HOUSING TO LOW AND MODERATE INCOME AND UNDERSERVED POPULATIONS IN NORTHAMPTON AND AMHERST. ALL CURRENT OWNED RENTAL PROPERTIES WERE DEVELOPED BY VALLEY.
HOMEOWNERSHIP SUPPORT - ASSISTS FIRST TIME HOME BUYERS WITH PRE AND POST-PURCHASE COUNSELING, FORECLOSURE PREVENTION, AND FINANCIAL LITERACY COUNSELING THROUGH WORKSHOPS AND ONE TO ONE SUPPORT.
SMALL BUSINESS - PROVIDES SMALL BUSINESS TECHNICAL ASSISTANCE AND WORKSHOPS PRIMARILY TO PEOPLE WITH LOW AND MODERATE INCOMES AND UNDERSERVED POPULATIONS (BIPOC COMMUNITIES, WOMEN, AND VETERANS).
HOUSING DEVELOPMENT- VALLEY CREATES AND PRESERVES AFFORDABLE HOUSING OPPORTUNITIES FOR PEOPLE WITH LOW AND MODERATE INCOMES, UNHOUSED PEOPLE, AND OTHER VULNERABLE POPULATIONS IN HAMPSHIRE AND FRANKLIN COUNTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Abbott Treasurer | OfficerTrustee | 1.25 | $0 |
Kim Alston Vice President | Trustee | 1 | $0 |
Dorothy Nemetz Clerk | OfficerTrustee | 1 | $0 |
Madeline Weaver Blanchette President | OfficerTrustee | 1 | $0 |
Maureen Borg Director | Trustee | 0.5 | $0 |
Bill Fontes Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Saloomey Construction Inc Asbestos Abatement | 6/29/23 | $894,419 |
Austin Design Group Architect | 6/29/23 | $421,041 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $21,568 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,827,746 |
| All other contributions, gifts, grants, and similar amounts not included above | $380,815 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,230,129 |
| Total Program Service Revenue | $13,676 |
| Investment income | $48,808 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $805,604 |
| 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 | $4,190,882 |
| 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 | $656,841 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $100,564 |
| Payroll taxes | $52,279 |
| Fees for services: Management | $46,930 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $78,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $107,986 |
| Advertising and promotion | $976 |
| Office expenses | $22,693 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,993 |
| Travel | $5,957 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $264,781 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $350,196 |
| Insurance | $41,421 |
| All other expenses | $97,750 |
| Total functional expenses | $2,369,933 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $361,685 |
| Savings and temporary cash investments | $1,080,005 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $99,142 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,933,299 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $38,660 |
| Net Land, buildings, and equipment | $4,294,630 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,157,975 |
| Total assets | $26,965,396 |
| Accounts payable and accrued expenses | $998,427 |
| 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 | $19,183,142 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $467,279 |
| Total liabilities | $20,648,848 |
| Net assets without donor restrictions | $2,258,316 |
| Net assets with donor restrictions | $4,058,232 |
| 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 | $26,965,396 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Valley Community Development Corporation Northampton, MA | $26,965,396 | $4,190,882 |
New York Mortgage Coalition Inc New York, NY | $2,695,946 | $1,581,033 |
Brookline Improvement Coalition Inc Brookline, MA | $2,046,784 | $434,876 |
Reside Affordable Inc Brooklyn, NY | $163,793 | $228,350 |
Homeward Bound Program Bronx, NY | $0 | $170,816 |
Calvert Vaux Preservation Alliance Staatsburg, NY | $24,163 | $0 |
Union Neighborhood Assistance Corporation Boston, MA | $1,694,797 | $56,649 |
Flipping For Charities Inc Somerset, MA | $108,573 | $0 |
All Borough Solutions Inc Brooklyn, NY | $252,213 | $0 |
Housing Partners Of New York Inc Brooklyn, NY | $354,229 | $0 |
Wellness Transitional Living Inc Valley Cottage, NY | $0 | $0 |
Chi Reality Inc White Plains, NY | $53,587 | $0 |
Antonetta Sacro Foundation Everett, MA | $519,531 | $16,652 |