Overview
What is Paco Community Development Corporation?
Paco Community Development Corporation, a 501(c)(3) nonprofit based in Jersey City, New Jersey, focuses on revitalizing deteriorating neighborhoods by financing and purchasing underdeveloped properties to create affordable housing. Their mission extends beyond real estate, as they collaborate with government agencies and community groups to attract new businesses to the area, thereby providing stable sources of decent, affordable housing. In addition to their charitable work, Paco Community Development Corporation hosts community events, such as the Three Kings Celebration, a Spanish cultural event where they offer gifts to children, refreshments, and entertainment. During the holiday season, they also run a Thanksgiving Food Program, identifying families in need and providing them with a Thanksgiving meal. Moreover, they organize a community event for those in need, offering food, music, and games for children.
Is Paco Community Development Corporation legitimate?
Paco Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Paco Community Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $10,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Paco Community Development Corporation?
The Paco Community Development Corporation, a nonprofit organization operating under Section 501(C)(3) of the Internal Revenue Code, was established with a charitable purpose. Its primary mission is to finance and purchase underdeveloped properties that can offer affordable housing, thereby attracting homeowners into deteriorating neighborhoods. The corporation aims to provide assistance to communities in need, cooperating with government agencies and community groups to boost local businesses and establish stable sources of decent and affordable housing in the area.
Who is the CEO of Paco Community Development Corporation?
Frank Molina is the Chairman of Paco Community Development Corporation.
What is the revenue of Paco Community Development Corporation?
Paco Community Development Corporation's revenue in 2021 was $1,091,300.
Who are the executives of Paco Community Development Corporation and what are their salaries?
- Frank Molina (Chairman) [Trustee/Director]
- Vishnu Khemraj (Vice Chairman) [Trustee/Director]
- Edward Fowlkes (Secretary) [Trustee/Director]
- Vidal Ledda (Trustee)
- Edward Kolling (Trustee)
Where can I find the form 990 for Paco Community Development Corporation?
The Paco Community Development Corporation’s most recent form 990 was submitted in 2021 and can be accessed here
Mission Statement of Paco Community Development Corporation
Paco Community Development Corporation, a 501(c)(3) organization, was established with the primary objective of serving charitable purposes. Its mission is multifaceted, focusing on two key areas. Firstly, the organization aims to finance and purchase underdeveloped properties that can provide affordable housing. This initiative seeks to attract homeowners into deteriorating neighborhoods, thereby revitalizing these areas and providing much-needed assistance to local communities.
Secondly, Paco Community Development Corporation collaborates with government agencies and community groups to foster economic growth. They aim to attract new businesses to the area, thereby providing stable sources of decent and affordable housing. By working together with these entities, the organization strives to improve the living conditions and economic prospects of the communities it serves. In essence, the mission of Paco Community Development Corporation is to revitalize underserved neighborhoods, provide affordable housing, and stimulate economic growth, thereby improving the quality of life for local communities.
Impact
This information is meant to be a general summary of Paco Community Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Paco Community Development Corporation's impact can be seen in the tangible improvements it brings to underdeveloped neighborhoods. By financing and purchasing properties to provide affordable housing, they help attract new homeowners and revitalize deteriorating areas. Working in collaboration with government agencies and community groups, they also play a key role in attracting businesses and creating stable sources of affordable housing. Additionally, through initiatives like the Three Kings Celebration, Thanksgiving food programs, and community events, they actively engage with and support the local community in meaningful ways. This nonprofit's commitment to community improvement is evident in the positive changes they bring to Jersey City, NJ, and the lives of those they serve.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
- Assets and Liabilities:
Organization Details
Founding Year
2015
Phone
(201) 656-4111
Principal Officer
Frank Molina
Main Address
192 THIRD STREET, JERSEY CITY, NJ, 07302
NTEE Category
Code: S20 - Community improvement
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