Premier Community Development Corporation

Nonprofit profile at a glance

EIN
208296546
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-N 2008
Location
Plainfield, NJ, USA
Phone
9087696335
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
Homeowners & Tenants Associations

Reported finances

Revenue
$369,902
Expenses
$95,089
Assets
$1,131,155
Liabilities
$3,289

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

People named in this filing

  • GEORGETTE BARNES (EXECUTIVE DI)
  • PETER BRIGGS (VICE-CHAIRPE)
  • LOUISE COLODNE (DIRECTOR)

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

The plainfield community development corporation (pcdc) is an affiliate of the housing authority of plainfield working in conjunction with the city of plainfield to improve neighborhoods for local residents. Pcdc focuses on the development and rehabilitation of quality housing for the improvement of family lives in urban communities.

What it reported doing in 2024

Provide quality affordable housing for moderate and low income families living in the city of plainfield and surrounding urban areas. Income limitations and definitions established by hud guidelines by county. A person is considered to be of low income only if he or she is a member of a household whose income would qualify as "very low income" under the section 8 housing assistance payments program. Generally, these section 8 limits are based on 50% of area median. Similarly, moderate income relies on section 8 "lower income" limits, which are generally tied to 80% of area median. Provide homebuyer assistance in the purchase of property developed for moderate and low income families.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 17
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 87
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 9.3%; rating input score 9
  • Program expense ratio: 36.4%; rating input score 36
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 74.3%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 11.9; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -16% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: -5% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 9.3% of revenue deployed · 36.4% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $35K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 9/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 36/100.
  • High — Financial Efficiency: Fundraising efficiency scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.