Peoples Redevelopment Corporation
- Assets
- $11.6m
- Revenue
- $397.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 08/1972
- Data as of
- 12/2022
- EIN
- 23-7187286
Organization Overview
Peoples Redevelopment Corporation is located in Providence, RI. The organization was established in 1972. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, 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. Peoples Redevelopment 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 12/2022, Peoples Redevelopment Corporation generated $397.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.3%) each year. All expenses for the organization totaled $449.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (10.7%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE, SPONSOR, CONSTRUCT, REHABILITATE, OWN AND RENOVATE LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTED, SPONSORED AND OWN HOUSING FOR LOW AND MODERATE INCOME PERSONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Sanders Treasurer | OfficerTrustee | 1 | $0 |
Barbara Krank President | OfficerTrustee | 2 | $0 |
Maria Lopes Secretary | OfficerTrustee | 1 | $0 |
Joseph Buchanan Vice President | OfficerTrustee | 1 | $0 |
Theresa Gillikin Director | Trustee | 1 | $0 |
Antonio Lopes Director | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $397,630 |
| Investment income | $87 |
| 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 | $397,717 |
| 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 | $7,401 |
| Fees for services: Accounting | $3,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,600 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $11,631 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,825 |
| Insurance | $19,087 |
| All other expenses | $764 |
| Total functional expenses | $449,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,147 |
| Savings and temporary cash investments | $268,998 |
| 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 | $10,315,660 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,047,194 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,644,999 |
| Accounts payable and accrued expenses | $48,074 |
| 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 | $374,836 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,980 |
| Total liabilities | $432,890 |
| Net assets without donor restrictions | $0 |
| 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 | $11,212,109 |
| Total liabilities and net assets/fund balances | $11,644,999 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Center Communities Of Brookline Inc Boston, MA | $21,612,727 | $5,843,127 |
Hrca Brookline Housing 1550 Beacon Plaza Boston, MA | $18,498,571 | $4,652,823 |
North Shore Community Development Coalition Inc Salem, MA | $17,290,346 | $6,893,056 |
Mutual Housing Association Of Southwestern Connecticut Inc Trumbull, CT | $16,772,020 | $2,661,661 |
Fenway Community Development Corp Boston, MA | $34,067,808 | $3,370,772 |
Metro West Collaborative Development Inc Newton, MA | $10,716,261 | $1,645,625 |
Corporation For Urban Home Ownership Of New Haven New Haven, CT | $4,432,943 | $1,077,514 |
House Of Hope Housing Inc Lowell, MA | $8,436,153 | $947,848 |
Helping Hands Community Partners Inc Providence, RI | $3,864,522 | $2,035,058 |
Yarock Memorial Housing Inc Worcester, MA | $5,078,488 | $970,124 |
Elmhurst House Inc Pawtucket, RI | $1,648,937 | $447,377 |
Peoples Redevelopment Corporation Providence, RI | $11,644,999 | $397,717 |