PRIMARY CARE DEVELOPMENT CORPORATION

EIN: 133711803 501(c)(3) Health Care

NEW YORK, NY

Total Revenue
$28,277,474
Total Expenses
$12,707,402
Total Assets
$170,477,187
Net Assets
$75,251,623
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1993
Legal Domicile
NY
Principal Officer
LOUISE COHEN
Phone
2124373940
Tax Period
2024-07-01 to 2025-06-30

PRIMARY CARE DEVELOPMENT CORPORATION, founded in 1993, is a mid-sized nonprofit in the Health Care sector that reported $28.3M in total revenue in fiscal year 2024. Revenue surged 115% from the prior year, signaling strong growth momentum. The organization ran a surplus of $15.6M, a strong 55% operating margin.

Mission

PRIMARY CARE DEVELOPMENT CORPORATION (PCDC) SUPPORTS ACCESS TO HIGH-QUALITY PRIMARY CARE NATIONWIDE TO IMPROVE HEALTH OUTCOMES. PCDC WORKS WITH PRIMARY CARE PROVIDERS AND COMMUNITIES THROUGH CAPITAL FINANCING, CAPACITY-BUILDING SERVICES, AND POLICY ANALYSIS AND ADVOCACY TO EXPAND PRIMARY CARE CAPACITY AND STRENGTHEN CARE DELIVERY NATIONWIDE.

Program Service Accomplishments

Program 1
Expenses: $5,102,274 Revenue: $7,618,750

CAPITAL INVESTMENT: PCDC PROVIDES FLEXIBLE FINANCING AND TECHNICAL EXPERTISE TO SUPPORT THE DEVELOPMENT AND MODERNIZATION OF COMMUNITY-BASED PRIMARY CARE FACILITIES, WITH A FOCUS ON COMMUNITIES WITH...

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CAPITAL INVESTMENT: PCDC PROVIDES FLEXIBLE FINANCING AND TECHNICAL EXPERTISE TO SUPPORT THE DEVELOPMENT AND MODERNIZATION OF COMMUNITY-BASED PRIMARY CARE FACILITIES, WITH A FOCUS ON COMMUNITIES WITH LIMITED ACCESS TO SERVICES. TO DATE, PCDC HAS FINANCED AROUND 260 PROJECTS TOTALING NEARLY $1.8 BILLION, SUPPORTING CAPACITY FOR APPROXIMATELY 5.3 MILLION MEDICAL VISITS ANNUALLY SERVING MORE THAN 1.5 MILLION PATIENTS NATIONWIDE. PCDC HAS EXPERIENCED NO LOAN LOSSES AND HOLDS AN AERIS AA+ FINANCIAL STRENGTH RATING AND A FOUR-STAR IMPACT MANAGEMENT RATING.

Program 2
Expenses: $2,764,980 Revenue: $2,423,162

CONSULTING & TRAINING: PCDC PROVIDES CONSULTING, TRAINING, AND TECHNICAL ASSISTANCE TO STRENGTHEN PRIMARY CARE DELIVERY, OPERATIONS, AND FINANCIAL MANAGEMENT. PCDC HAS SUPPORTED MORE THAN 4,800...

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CONSULTING & TRAINING: PCDC PROVIDES CONSULTING, TRAINING, AND TECHNICAL ASSISTANCE TO STRENGTHEN PRIMARY CARE DELIVERY, OPERATIONS, AND FINANCIAL MANAGEMENT. PCDC HAS SUPPORTED MORE THAN 4,800 PRIMARY CARE ORGANIZATIONS NATIONWIDE, INCLUDING ASSISTANCE TO OVER 1,400 SITES IN ACHIEVING PATIENT-CENTERED MEDICAL HOME RECOGNITION. IN RESPONSE TO THE NEEDS OF EXISTING PRACTICES AND HEALTH CENTERS, PCDC EXPANDED FINANCIAL MANAGEMENT AND LITERACY SERVICES TO STRENGTHEN UNDERSTANDING OF ORGANIZATIONAL FINANCIAL OPERATIONS. PCDC ALSO EXPANDED CALIFORNIA-BASED CONSULTING SERVICES THROUGH STATE-FUNDED TECHNICAL ASSISTANCE, SUPPORTING PROVIDER PARTICIPATION IN STATEWIDE PAYMENT REFORM INITIATIVES.

Program 3
Expenses: $1,604,242 Revenue: $100,000

POLICY, COMMUNICATIONS, RESEARCH & EVALUATION: PCDC CONDUCTS POLICY ANALYSIS, RESEARCH, AND STAKEHOLDER ENGAGEMENT TO INFORM DECISION-MAKING AND IMPROVE PRIMARY CARE ACCESS AND SYSTEM PERFORMANCE...

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POLICY, COMMUNICATIONS, RESEARCH & EVALUATION: PCDC CONDUCTS POLICY ANALYSIS, RESEARCH, AND STAKEHOLDER ENGAGEMENT TO INFORM DECISION-MAKING AND IMPROVE PRIMARY CARE ACCESS AND SYSTEM PERFORMANCE, ESPECIALLY IN AREAS AND COMMUNITIES WITH LIMITED ACCESS TO SERVICES. THROUGH ORIGINAL RESEARCH, DATA TOOLS, AND THOUGHT LEADERSHIP, PCDC HELPS POLICYMAKERS, FUNDERS, AND HEALTH CARE LEADERS BETTER UNDERSTAND WHERE PRIMARY CARE GAPS EXIST AND HOW RESOURCES CAN BE USED MORE EFFECTIVELY. PCDC'S WORK ELEVATES EVIDENCE-BASED SOLUTIONS, STRENGTHENS ACCOUNTABILITY, AND SUPPORTS SUSTAINABLE INVESTMENTS IN PRIMARY CARE NATIONWIDE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $16,673,455
Program Service Revenue $10,141,912
Investment Income $1,474,203
Other Revenue $-12,096
TOTAL REVENUE $28,277,474

Expense Breakdown

Grants Paid $0
Salaries & Benefits $7,576,198
Fundraising Expenses $40,319
Program Expenses $9,471,496
Other Expenses $5,131,204
TOTAL EXPENSES $12,707,402

Year-over-Year Comparison

2024 2023 Change
Revenue $28,277,474 $13,180,974 +1.1%
Expenses $12,707,402 $14,717,880 -0.1%
Net Income $15,570,072 $-1,536,906 -11.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
21
Independent Members
21
Employees
60
Volunteers
21

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$696,869
Total Directors
21
$0
Key Employees
4
$1,122,695
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
YVETTE P TEOFAN CHAIR 1.00
Officer Director
$0 $0 $0
CAROL RAPHAEL VICE CHAIR 1.00
Officer Director
$0 $0 $0
SCOTT MORGAN TREASURER 1.00
Officer Director
$0 $0 $0
JOHN RUGGE SECRETARY 1.00
Officer Director
$0 $0 $0
CYRUS BATHEJA BOARD MEMBER 1.00
Director
$0 $0 $0
DUDLEY BENOIT BOARD MEMBER 1.00
Director
$0 $0 $0
ALAN BRANSON BOARD MEMBER 1.00
Director
$0 $0 $0
PABLO BRAVO BOARD MEMBER 1.00
Director
$0 $0 $0
JONATHAN CHAMPMAN BOARD MEMBER 1.00
Director
$0 $0 $0
GERRELDA DAVIS BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN HOLDSCLAW BOARD MEMBER 1.00
Director
$0 $0 $0
CHRISTOPHER KOLLER BOARD MEMBER 1.00
Director
$0 $0 $0
HELEN ARTEAGA LANDAVERDE BOARD MEMBER 1.00
Director
$0 $0 $0
DIANA MASON BOARD MEMBER 1.00
Director
$0 $0 $0
JORGE R PETIT BOARD MEMBER 1.00
Director
$0 $0 $0
WHITNEY PHELPS BOARD MEMBER 1.00
Director
$0 $0 $0
LORI SCOTT BOARD MEMBER 1.00
Director
$0 $0 $0
MATT SIEGLER BOARD MEMBER 1.00
Director
$0 $0 $0
TERRIE STERLING BOARD MEMBER 1.00
Director
$0 $0 $0
UDAI TAMBAR BOARD MEMBER 1.00
Director
$0 $0 $0
MARLENE ZURACK BOARD MEMBER 1.00
Director
$0 $0 $0
LOUISE COHEN CEO 40.00
Officer
$403,353 $20,537 $423,890
ASSUNTA ROSA INTERIM CFO THRU AUG. 2024 40.00
Officer
$157,008 $8,414 $165,422
ANA PRADO-SANCHO CFO AS OF JULY 2024 40.00
Officer
$96,786 $10,771 $107,557
CYNTHIA SUMMERS MANAGING DIR SPA THRU NOV. 2024 40.00
Key Emp
$248,593 $18,308 $266,901
ISAAC KASTENBAUM VP CQP 40.00
Key Emp
$245,679 $71,597 $317,276
WILLIAM O'BRIEN CHIEF LENDING OFFICER 40.00
Key Emp
$265,893 $52,113 $318,006
ANNE GEGGIE SR. DIR., PORTFOLIO MANAGEMENT 40.00
Key Emp
$192,809 $27,703 $220,512
NANCY LAGER DIR, CAPITAL INVESTMENT 40.00
Highest
$214,138 $30,946 $245,084
JULIE SCHILZ SENIOR DIRECTOR 40.00
Highest
$211,979 $11,952 $223,931
CHRISTINA LINDSTROM DIR. OF ADMINISTRATION 40.00
Highest
$207,771 $12,090 $219,861
SHUK HAN LEUNG SR. DIR. OF FINANCE 40.00
Highest
$192,239 $45,475 $237,714
SHEREEN SANTALESA HUMAN RESOURCES DIRECTOR 40.00
Highest
$170,345 $11,831 $182,176
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $28,277,474 $12,707,402 $170,477,187 $15,570,072
2024 $13,180,974 $14,717,880 $148,220,209 $-1,536,906
2023 $14,158,594 $15,202,525 $142,976,892 $-1,043,931
2022 $17,167,926 $12,753,321 $131,968,263 $4,414,605
2021 $23,704,901 $11,667,293 $129,317,637 $12,037,608
2020 $14,220,492 $13,930,023 $100,477,628 $290,469
2019 $13,952,236 $11,573,611 $93,930,403 $2,378,625
2018 $13,245,098 $11,202,974 $87,991,929 $2,042,124
2018 $13,245,098 $11,243,219 $87,991,929 $2,001,879
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