Civic Intelligence

Polk Community Development Corporation

990 • Fiscal year 2021 • EIN 93-1012211

Jul 01, 2020 to Jun 30, 2021 • Filed on May 12, 2022

Organization ProfileWWW.POLKCDC.ORG
657 SW Main StreetDallas, OR 97338

(503) 831-3173

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

60th percentile

0.26x

Higher debt load relative to assets than 60% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

83rd percentile

1.21x

Higher debt load relative to revenue than 83% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

78th percentile

34%

Higher net margin than 78% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

22nd percentile

$92,250

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

40th percentile

6.1%

Faster asset growth than 40% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

90th percentile

114%

Faster revenue growth than 90% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$18,691,480

Up $1,078,581 (+6.1%) from 2020

Net Assets

Up

$13,770,788

Up $1,373,882 (+11%) from 2020

Liabilities

Down

$4,920,692

Down $295,301 (-5.7%) from 2020

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin78th percentile

Revenue

Up

$4,062,648

Up $2,163,678 (+114%) from 2020

Expenses

Up

$2,688,766

Up $392,717 (+17%) from 2020

Net Income

Up

$1,373,882

Up $1,770,961 (+446%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2011: $8,793,970Liabilities 2011: $1,980,109Net Assets 2011: $6,813,8612011Assets 2012: $9,308,794Liabilities 2012: $1,910,907Net Assets 2012: $7,397,8872012Assets 2013: $10,282,048Liabilities 2013: $2,476,347Net Assets 2013: $7,805,7012013Assets 2014: $10,132,269Liabilities 2014: $1,839,123Net Assets 2014: $8,293,1462014Assets 2015: $10,920,729Liabilities 2015: $1,940,704Net Assets 2015: $8,980,0252015Assets 2016: $12,083,926Liabilities 2016: $1,881,067Net Assets 2016: $10,202,8592016Assets 2017: $13,480,425Liabilities 2017: $1,751,923Net Assets 2017: $11,728,5022017Assets 2018: $15,724,238Liabilities 2018: $3,656,057Net Assets 2018: $12,068,1812018Assets 2019: $17,162,727Liabilities 2019: $4,368,742Net Assets 2019: $12,793,9852019Assets 2020: $17,612,899Liabilities 2020: $5,215,993Net Assets 2020: $12,396,9062020Assets 2021: $18,691,480Liabilities 2021: $4,920,692Net Assets 2021: $13,770,7882021Assets 2022: $22,075,845Liabilities 2022: $6,007,882Net Assets 2022: $16,067,9632022Assets 2023: $24,286,714Liabilities 2023: $8,425,656Net Assets 2023: $15,861,0582023Assets 2024: $25,890,649Liabilities 2024: $9,963,452Net Assets 2024: $15,927,1972024Assets 2025: $32,672,994Liabilities 2025: $10,602,505Net Assets 2025: $22,070,4892025

Highlighted filing

2021

Assets$18,691,480
Liabilities$4,920,692
Net Assets$13,770,788
Open 2021 Filing

Operations Trend

Revenue Growth90th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2011: $1,305,047Expenses 2011: $982,813Net Income 2011: $322,2342011Revenue 2012: $1,614,857Expenses 2012: $1,030,831Net Income 2012: $584,0262012Expenses 2013: $1,105,7432013Revenue 2014: $1,730,766Expenses 2014: $1,243,321Net Income 2014: $487,4452014Revenue 2015: $1,999,742Expenses 2015: $1,312,863Net Income 2015: $686,8792015Revenue 2016: $2,571,000Expenses 2016: $1,348,166Net Income 2016: $1,222,8342016Revenue 2017: $3,087,383Expenses 2017: $1,561,740Net Income 2017: $1,525,6432017Revenue 2018: $1,991,863Expenses 2018: $1,652,184Net Income 2018: $339,6792018Revenue 2019: $2,599,833Expenses 2019: $1,874,029Net Income 2019: $725,8042019Revenue 2020: $1,898,970Expenses 2020: $2,296,049Net Income 2020: -$397,0792020Revenue 2021: $4,062,648Expenses 2021: $2,688,766Net Income 2021: $1,373,8822021Revenue 2022: $5,307,917Expenses 2022: $3,010,742Net Income 2022: $2,297,1752022Revenue 2023: $3,545,955Expenses 2023: $3,752,860Net Income 2023: -$206,9052023Revenue 2024: $4,205,167Expenses 2024: $4,139,028Net Income 2024: $66,1392024Revenue 2025: $10,820,788Expenses 2025: $4,677,496Net Income 2025: $6,143,2922025

Highlighted filing

2021

Revenue$4,062,648
Expenses$2,688,766
Net Income$1,373,882
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 12, 2022
Return Version
2020v4.0
Gross Receipts
$4,140,360
Mission and Program Overview

Mission

Serving the needs of low and moderate income people through community economic development activities including the development and management of affordable rental housing, first time home ownership, and community self- help activities within polk county, oregon, and to carry out such activities and business as may be authorized for a corporation organized under the oregon nonprofit corporation act and as a corporation exempt from federal income tax under section 501(c)(3).

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,657,986$15,185,587▲ $1,527,601
Other Notes and Loans Receivable, Net$1,439,141$1,353,289▼ $85,852
Savings and Temporary Cash Investments$1,185,126$995,152▼ $189,974
Cash and Non-Interest-Bearing Accounts$628,476$540,634▼ $87,842
Accounts Receivable$148,326$183,753▲ $35,427
Pledges and Grants Receivable$222,900$177,344▼ $45,556
Investments Program Related$146,156$146,137▼ $19
Prepaid Expenses and Deferred Charges$105,209$20,602▼ $84,607
Total Assets$17,612,899$18,691,480▲ $1,078,581
Other Assets Total$79,579$88,982▲ $9,403
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,144,489$4,015,821▼ $128,668
Other Liabilities$672,022$579,071▼ $92,951
Accounts Payable and Accrued Expenses$399,255$325,077▼ $74,178
Deferred Revenue$227$723▲ $496
Total Liabilities$5,215,993$4,920,692▼ $295,301
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,132,272$11,693,669▲ $1,561,397
Net Assets With Donor Restrictions$2,264,634$2,077,119▼ $187,515
Total Net Assets Fund Balance$12,396,906$13,770,788▲ $1,373,882
Total Liabilities and Net Assets / Fund Balance$17,612,899$18,691,480▲ $1,078,581

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,259,980$8,202,817$21,462,797
Land$1,881,706-$1,881,706
Equipment$43,901$241,020$284,921
Compensation and Service Providers
Top Officer Pay22nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rita a GradyExecutive DiFT$92,050$200$92,250

Board Members and Trustees

NameTitle
Amy HoughtalingPresident
Alea LittletonDirector
Jeremy GordonDirector
Kate Cooper RichardsonDirector
Shekina YubetaDirector
Zellee AllenDirector
Stephanie TorresSecretary
Linda JenningsTreasurer
Lane ShetterlyVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Wildish Building CoConstructionPO BOX 40310, Eugene, OR 97404$865,311
Bda Architecture & Planning PCArchitect1369 OLIVE ST, Eugene, OR 97401$195,222
I & E ConstructionConstruction27375 SW PARKWAY AVE, Wilsonville, OR 97070$170,155
Revenue and Support

Revenue Composition

Contributions and Grants
$2,432,395
Program Service Revenue
$1,287,659
Investment Income
$342,594
Other Revenue
$0
All Other Contributions
$15,910
Change in Net Assets
$1,373,882

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,062,648
Total Revenue per Audited Statements
$4,062,648
Total Revenue per Form 990
$4,062,648
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,548,734
Salaries, Compensation, and Employee Benefits$752,096
Grants and Similar Amounts Paid$387,936
Total Fundraising Expense$115,848
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$699,014--$699,014
Other Salaries and Wages$297,561$199,080$34,924$531,565
Grants to Domestic Individuals$276,686--$276,686
Grants to Domestic Orgs$111,250--$111,250
Current Officers, Directors, Trustees, and Key Employees$31,586$10,529$63,173$105,288
Interest$96,238$6,947-$103,185
Other Expenses$54,976$26,789-$81,765
Office Expenses$24,768$53,128-$77,896
Insurance$66,042$1,166-$67,208
Other Employee Benefits$26,179$19,303$9,029$54,511
Payroll Taxes$26,966$15,046$7,045$49,057
Information Technology$12,809$27,485-$40,294
Fees for Services Accounting$743$31,832-$32,575
Fees for Services Other$1$12,528-$12,529
Pension Plan Contributions$6,417$3,581$1,677$11,675
Travel$1,549$3,325-$4,874
All Other Expenses-$3,059-$3,059
Fees for Services Legal$52$2,214-$2,266
Total Functional Expenses$2,132,962$439,956$115,848$2,688,766

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,688,766
Total Expenses per Audited Statements$2,688,766
Total Expenses per Form 990$2,688,766
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Tb Jeffries IncMonmouth, OR-Pandemic Relief$10,000
Green Villa Farms LLCIndependence, OR-Pandemic Relief$6,250
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Revolving Fund$490,089
Tenant Security Deposits$88,982
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The form 990 is reviewed by the finance department and the executive director. A copy is provided to the board prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Any actions by the board of directors require the board to disclose conflicts of interest. If a conflict the board member is excluded from participating any vote regarding that action.”

Form 990, Page 6, Part VI, Line 15A

“Compensation for the executive director is established and periodically reviewed by the board of directors.”

Form 990, Page 6, Part VI, Line 15B

“Officers other than the executive director serve as volunteers without compensation. Other employee compensation is determined using comparable data from other similar organizations and approved by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to the public at the organizations offices upon request.”

Filing and Contact Details

Filer

Filer Name
Polk Cdc
EIN
93-1012211
Phone
5038313173
Address
657 SW MAIN STREET, DALLAS, OR 97338

Signing Officer

Name
Rita a Grady
Title
Executive Director
Phone
5038313173
Signed
2022-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rita a Grady
Formed
1989
Legal Domicile
Or
Voting Board Members
9
Independent Board Members
9
Employees
16
Volunteers
9

Preparer

Firm
Finney Neill & Company Ps
Address
9757 GREENWOOD AVE N, SEATTLE, WA 98103
Preparer
Joshua J Breiling CPA
Phone
2062989811
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Serving the needs of low and moderate income people through community economic development activities including the development and management of affordable rental housing, first time home ownership, and community self- help activities within polk county, oregon, and to carry out such activities and business as may be authorized for a corporation organized under the oregon nonprofit corporation act and as a corporation exempt from federal income tax under section 501(c)(3).”

Financial Statement Notes

Schedule D, Page 3, Part X

“The corporation accounts for tax positions in accordance with fasb accounting standards codification topic 740, income taxes. With few exceptions, the corporation is subject to federal and state income tax examinations by tax authorities for the prior three years. Management has reviewed the corporation's tax positions and determined there were no uncertain tax positions as of june 30, 2021 and 2020.”

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IRS990/OtherExpensesGrp/Desc0UTILITIES
IRS990/OtherExpensesGrp/Desc1MAINTENANCE
IRS990/OtherExpensesGrp/Desc2PROPERTY TAXES
IRS990/OtherExpensesGrp/Desc3PROPERTY MGT & REIMB
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt120119
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21065
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IRS990/PrincipalOfficerNm0RITA A GRADY
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IRS990/ProgramServiceRevenueGrp/Desc0NET RENTAL REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1OTHER FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc2MISCELLANEOUS INCOME
IRS990/ProgramServiceRevenueGrp/Desc3LAUNDRY INCOME
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IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYInvestmentIncomeAmt059838
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IRS990/PYProgramServiceRevenueAmt01123787
IRS990/PYRevenuesLessExpensesAmt0-397079
IRS990/PYSalariesCompEmpBnftPaidAmt0656945
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IRS990/PYTotalRevenueAmt01898970
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION ACCOUNTS FOR TAX POSITIONS IN ACCORDANCE WITH FASB ACCOUNTING STANDARDS CODIFICATION TOPIC 740, INCOME TAXES. WITH FEW EXCEPTIONS, THE CORPORATION IS SUBJECT TO FEDERAL AND STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE PRIOR THREE YEARS. MANAGEMENT HAS REVIEWED THE CORPORATION'S TAX POSITIONS AND DETERMINED THERE WERE NO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2021 AND 2020.

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$18,691,480
Liabilities
$4,920,692
Net assets
$13,770,788
Revenue
$4,062,648
Expenses
$2,688,766
Net income
$1,373,882
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$32.7$10.6$22.1$10.8$4.68$6.14
2024Detailed filing. Detailed filing data is available for this year.$25.9$9.96$15.9$4.21$4.14$0.07
2023Detailed filing. Detailed filing data is available for this year.$24.3$8.43$15.9$3.55$3.75$0.21
2022Detailed filing. Detailed filing data is available for this year.$22.1$6.01$16.1$5.31$3.01$2.30
2021Detailed filing. Detailed filing data is available for this year.$18.7$4.92$13.8$4.06$2.69$1.37
2020Detailed filing. Detailed filing data is available for this year.$17.6$5.22$12.4$1.90$2.30$0.40
2019Detailed filing. Detailed filing data is available for this year.$17.2$4.37$12.8$2.60$1.87$0.73
2018Detailed filing. Detailed filing data is available for this year.$15.7$3.66$12.1$1.99$1.65$0.34
2017Detailed filing. Detailed filing data is available for this year.$13.5$1.75$11.7$3.09$1.56$1.53
2016Detailed filing. Detailed filing data is available for this year.$12.1$1.88$10.2$2.57$1.35$1.22
2015Detailed filing. Detailed filing data is available for this year.$10.9$1.94$8.98$2.00$1.31$0.69
2014Detailed filing. Detailed filing data is available for this year.$10.1$1.84$8.29$1.73$1.24$0.49
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$2.48$7.81$1.11
2012Summary only. Only limited summary data is available for this year.$9.31$1.91$7.40$1.61$1.03$0.58
2011Summary only. Only limited summary data is available for this year.$8.79$1.98$6.81$1.31$0.98$0.32