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PHOENIX COMMUNITY DEVELOPMENT AND

PHOENIX, AZ · EIN 352175243 · Form 990 · FY2022 · NTEE S31 · Community Improvement · Medium ($1M-$10M) · www.pcdic.org
revenue
$2.2M
expenses
$5.2M
net assets
$37.1M
employees
0
program ratio
85%
mission · from form 990

TO ALLEVIATE POVERTY AND COMBAT COMMUNITY DETERIORATION THROUGH SERVING OR PROVIDING INVESTMENT CAPITAL FOR QUALIFIED LOW-INCOME COMMUNITIES THROUGH COMMUNITY DEVELOPMENT ENTITIES IN ACCORDANCE WITH INTERNAL REVENUE CODE SECTION 45D AND THE TREASURY REGULATIONS THEREUNDER.

profile · synthesized from sources

PHOENIX COMMUNITY DEVELOPMENT AND invests in the community by supporting nonprofits, small businesses, community-focused organizations, and students across Maricopa County. The organization provides scholarships for post-secondary education to students with financial need and offers various programs to foster community development.

irs program accomplishments · form 990 part iii · fy2022

what they reported doing

Program narrative the organization filed with the IRS. Ordered by program spending.

  1. #1 primary $74K
    NON-NEW MARKETS SMALL BUSINESS LOANS TO BUSINESSES THAT WOULD NOT QUALIFY FOR TRADITIONAL LENDING, DESIGNED TO ASSIST IN THOSE COMMUNITIES THAT WE SERVE.
  2. #2 $3.97M
    COLLEGE AND UNIVERSITY SCHOLARSHIP GRANTS FOR TUITION AND OTHER COSTS ARE AWARDED FOR UP TO 4 YEARS TO PRIMARILY LMI STUDENTS, A MAJORITY OF WHOM ARE FIRST-GENERATION COLLEGE STUDENTS. ADDITIONALLY, PCDIC PROVIDED COVID-19 FINANCIAL RELIEF GRANTS TO SMALL BUSINESSES AND NONPROFITS IN LMI AREAS OF MARICOPA COUNTY, AS WELL AS GRANTS TO LOCAL NONPROFITS FOR PROJECTS IN LMI AREAS SUPPORTING AFFORDABLE HOUSING, COMMUNITY/ECONOMIC DEVELOPMENT, HEALTH INNOVATION, AND YOUTH & FAMILY DEVELOPMENT.
named programs · 1 · from sources

what they call their work

Verma & Ed Pastor Scholarship
Supports post-secondary education for students with financial need attending an accredited, public college or university in Maricopa County, with preference for high school seniors, first-time college students, and re-entry students up to age 26.
activities · 1 cluster

what they do

  • Arizona-Based College Scholarship Programs 2 activities
    • Post-Secondary Scholarship Program
      Provides need-based scholarship awards of $2,500 per academic year for students attending 2-year colleges and $5,000 per academic year for students attending public universities in Maricopa County.
    • Post-secondary Scholarships
      Provides post-secondary scholarships to full-time students with financial need attending public colleges or universities in Maricopa County, with awards of $2,500 per academic year for students at 2-year colleges and $5,000 per academic year for students at public universities.
financials · form 990 · fy2022

the money

revenue
Total revenue$2.17M
Contributions & grants$946K44%
Program service revenue$890K41%
Investment income$333K15%
Other revenue$0
expenses
Total expenses$5.17M
Program expenses85%
Admin / overhead15%
Fundraising0%
Salaries & benefits$0
Grants paid out$3.90M
Largest expense lineProfessional Fees
balance sheet
Total assets$37.38M
Cash$33.15M
Investments$8K
Liabilities$250K
Net assets$37.13M
Liquid reserves76.9 mo
2 years on record · 2020–2022 · YoY revenue -53.8%
leadership · form 990 part vii · fy2022

who runs it

board members · 7
  • CARMEN HEREDIA — BOARD MEMBER
  • JOHN CHAN — VICE CHAIR
  • JULIA KARL — BOARD MEMBER
  • KATHLEEN GITKIN — TREASURER
  • MARIO VENTURA — BOARD MEMBER
  • SUSAN BARNES — CHAIR
  • TITUS MATTHEW — BOARD MEMBER
relationships · 1

who they work with

  • Phoenix IDA Partner — Sponsors the Verma and Ed Pastor Scholarship jointly with PCDIC.