Core Community Partners
- Assets
- $5.9m
- Revenue
- $2.1m
- Investments
- $157.5k
- Employees
- 0
- Location
- Bingham Farms, MI
- Founding
- Data as of
- 03/2023
- EIN
- 83-4273534
Organization Overview
Core Community Partners is located in Bingham Farms, MI. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, 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. Core Community Partners 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 03/2023, Core Community Partners generated $2.1m in total revenue. All expenses for the organization totaled $443.9k during the year ending 03/2023. While expenses have increased by 127.9% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CORE COMMUNITY PARTNERS HAS PROVIDED LOANS AND CONSULTING TO MULTIPLE ORGANIZATIONS THAT ARE FINANCING AND DEVELOPING AFFORDABLE HOUSING TRANSACTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF CORE COMMUNITY PARTNERS IS TO PROVIDE TIMELY AND COST-EFFECTIVE LENDING, INVESTING, CONSULTING AND OTHER FINANCIAL SERVICES TO SUPPORT THE DEVELOPMENT AND RE-DEVELOPMENT OF AFFORDABLE HOUSING STOCK AND RELATED COMMUNITY ECONOMIC DEVELOPMENT IN ORDER TO INCREASE THE QUALITY OF LIFE IN LOW-INCOME COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy V Fox President | OfficerTrustee | 40 | $0 |
Martha Richardson Chairman | OfficerTrustee | 5 | $0 |
Steven Champa Secretary | OfficerTrustee | 5 | $0 |
Tom Edmiston Treasurer | OfficerTrustee | 5 | $0 |
Brian A Gallaher Chief Financial Officer | Officer | 40 | $0 |
Andrew Martin Vice President | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,636,131 |
| All other contributions, gifts, grants, and similar amounts not included above | $75,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,711,131 |
| Total Program Service Revenue | $288,780 |
| Investment income | $69,266 |
| 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 | $2,069,177 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,053 |
| 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 | $14,600 |
| Fees for services: Legal | $96,127 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,359 |
| Advertising and promotion | $0 |
| Office expenses | $4,900 |
| 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 | $299,679 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $724 |
| Total functional expenses | $443,942 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,044,649 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $175,976 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,499,943 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $157,541 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,500 |
| Total assets | $5,885,609 |
| Accounts payable and accrued expenses | $63,999 |
| Grants payable | $0 |
| Deferred revenue | $5,833 |
| 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 | $0 |
| Other liabilities | $938,534 |
| Total liabilities | $1,008,366 |
| 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 | $4,877,243 |
| Total liabilities and net assets/fund balances | $5,885,609 |