Pawtucket Central Falls Development Corp
Nonprofit profile at a glance
- EIN
- 223241611
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Pawtucket, RI, USA
- Phone
- 4017261173
- Rating
- 74
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $5,713,693
- Expenses
- $2,211,942
- Assets
- $24,062,392
- Liabilities
- $18,651,731
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- GEORGE CHARETTE (PRESIDENT)
- JOHN CHOPOORIAN (VICE PRESIDENT)
People named in this filing
- JOSE LOPES (TREASURER)
- GEORGE CHARETTE (PRESIDENT)
- WILMA SMITH (MEMBER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Provided affordable housing.
What it reported doing in 2024
Pcdc and pcdc homes (the agency) were formed to expand the housing opportunities for low and moderate income families within the city of pawtucket, Rhode Island. As of july 1, 2014 they merged with realty endeavors for affordable community housing, inc. A smiliar organization operating in central falls, ri. Together as pawtucket central falls development corp. They effectuate this purpose by coordinating the purchase and rehabilitation of deteriorated buildings and the construction of new buildings in order to provide affordable housing for such families. The organization provides affordable housing through federal grants under the following home investment participation programs: rental rehabilitations- the organization acquires and rehabilitates multifamily houses which are subsequently made available for rent to qualified families. These units are rented on a one year lease basis and are managed by barkan management company.home ownership program - the organization acquires and rehabilitates houses and sells the properties to qualified families, generally at below its costs and are fully subsidized by federal grants.
Operating model
- Revenue model
- Grant-funded. 75% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 49
- Transparency & Controls: 93
- Accountability: 88
- Sustainability: 83
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 34.6%; rating input score 35
- Program expense ratio: 89.1%; rating input score 89
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 61.3%; rating input score 95; 95th percentile among comparable filings
- Total-asset coverage ratio: 10.88; rating input score 91; 91st percentile among comparable filings
- Liabilities to assets ratio: 0.78; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings
Growth
- Program expense growth: 8.4% per year; rating input score 100; 57th percentile among comparable filings
- Revenue growth: 10.3% per year; rating input score 100; 69th percentile among comparable filings
- Asset growth: 6.5% per year; rating input score 100; 43rd percentile among comparable filings
Details
- Where the money goes: 34.6% of revenue deployed · 89.1% of spending went to programs
- Governance: 13 of 13 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $2M in reported program spending
- Leadership: top reported pay $0 · 11 people listed
- Consistency: 22 of 23 current checks pass · 1 finding to review
- Schedules: 4 filed schedules
- Filing history: 13 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: 4 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Mission deployment rate scored 35/100.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 11/100.