THE PARK COMMUNITY DEVELOPMENT CORPORATION

EIN: 812704358 501(c)(3) Community Improvement

CHARLOTTE, NC

Total Revenue
$389,147
Total Expenses
$325,049
Total Assets
$557,357
Net Assets
$107,357
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
NC
Principal Officer
CHANDA HURMS
Phone
5139756419
Tax Period
2024-01-01 to 2024-12-31

THE PARK COMMUNITY DEVELOPMENT CORPORATION, founded in 2016, is a small nonprofit in the Community Improvement sector that reported $389K in total revenue in fiscal year 2024. Revenue surged 82% from the prior year, signaling strong growth momentum. The organization ran a surplus of $64K, a strong 16% operating margin.

Mission

TO CREATE SUSTAINABLE CHANGE WITHIN MARGINALIZED COMMUNITIES BY OFFERING SOLUTIONS TO AFFORDABLE HOUSING, HEATHY LIVING, AND ECONOMIC MOBILITY.

Program Service Accomplishments

Program 1
Expenses: $259,376

SUNSET FARM SUNSET FARM IS OUR URBAN FARM LOCATED AT 3432 SUNSET ROAD CHARLOTTE, NC 28216. HERE WE PROVIDE NUTRITIONALLY DENSE FOOD FOR INDIVIDUALS & FAMILIES IN NEED, DISTRIBUTED PRIMARILY THROUGH...

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SUNSET FARM SUNSET FARM IS OUR URBAN FARM LOCATED AT 3432 SUNSET ROAD CHARLOTTE, NC 28216. HERE WE PROVIDE NUTRITIONALLY DENSE FOOD FOR INDIVIDUALS & FAMILIES IN NEED, DISTRIBUTED PRIMARILY THROUGH OUR COMMUNITY PARTNERS AND OUR FARMER'S MARKET. THIS SPACE ALSO FUNCTIONS AS A HUB FOR INTERGENERATIONAL GARDENING TO CREATE MENTORING OPPORTUNITIES, GARDENING LESSONS, AND LIFE SKILLS THROUGH THE ENGAGEMENT BETWEEN COMMUNITY ELDERS AND YOUNGER GENERATIONS, AND FOR STEM-BASED EDUCATIONAL PROGRAMS FOR ALL AGES FOCUSED ON OUTDOOR, ENVIRONMENTALLY SAFE ACTIVITIES. THE PARK CDCS HEALTHY LIVING PROGRAMS ADVANCE EQUITY AND ADDRESS HEALTH DISPARITIES FACED BY INDIVIDUALS IN UNDERSERVED COMMUNITIES BY PROVIDING NUTRITION AND WELLNESS EDUCATION, PREVENTIVE CARE SERVICES, RESOURCES, AND TOOLS TAILORED TO THE NEEDS OF EACH PARTICIPANT. WE RECOGNIZE THAT ACCESS TO HEALTHY LIFESTYLE CHOICES SHOULD NOT BE LIMITED TO CERTAIN POPULATIONS, BUT SHOULD BE AVAILABLE TO ALL, REGARDLESS OF SOCIO- ECONOMIC STATUS OR BACKGROUND. BY OFFERING EDUCATIONAL WORKSHOPS FOCUSED ON DIET, PHYSICAL ACTIVITY, AND MENTAL WELL-BEING, OUR GOAL IS TO EMPOWER RESIDENTS OF ALL BACKGROUNDS TO LEAD HEALTHIER LIVES. ADDITIONALLY, THROUGH OUR URBAN FARM SUNSET FARM, WE PROVIDE HORTICULTURE EDUCATION TO SCHOOL AGE YOUTH, ADULTS, AND SENIORS ALONG WITH DISTRIBUTING FRESH, LOCALLY-GROWN, PESTICIDE-FREE PRODUCE TO RESIDENTS AND COMMUNITY PARTNERS. EDUCATIONAL, INTERACTIVE WORKSHOPS DESIGNED TO TEACH PARTICIPANTS TO IMPROVE THEIR HEALTH OUTCOMES BY PRACTICING POSITIVE DIETARY HABITS, COOKING NUTRITIOUS MEALS, AND OPTIMIZING THEIR GROCERY SHOPPING BUDGET WHILE CHOOSING HEALTHY FOOD SELECTIONS. ECONOMIC MOBILITY HOUSEHOLDS ARE CONSIDERED ASSET POOR WHEN THEY CANNOT ACCESS THE RESOURCES NEEDED TO SUSTAIN ITS BASIC NEEDS FOR AT LEAST THREE MONTHS, AND AT ITS VERY CORE, IT IS THE ECONOMIC AND SOCIAL CONDITIONS THAT ARE MORE PREVALENT AND PERSISTENT THAN INCOME POVERTY. LEARNING OPPORTUNITIES, LOCAL RESOURCES, AND STRATEGIES FOR ASSET BUILDING TO HELP INDIVIDUALS BREAK FREE FROM THE CYCLE OF POVERTY AND ACHIEVE UPWARD MOBILITY BY IDENTIFYING, MONETIZING, AND LEVERAGING THE ASSETS MOST PROXIMATE TO THEM. THE GOAL IS TO CREATE A GENERATIONAL CULTURE OF FINANCIAL LITERACY THEREBY MINIMIZING ASSET POVERTY AND FOSTERING LONG-TERM FINANCIAL STABILITY FOR INDIVIDUALS AND FAMILIES. BY PRIORITIZING ECONOMIC EMPOWERMENT FOR MARGINALIZED COMMUNITIES, WE AIM TO LEVEL THE PLAYING FIELD AND PROMOTE EQUAL ACCESS TO ECONOMIC OPPORTUNITIES. AFFORDABLE HOUSING BRIDGING THE GAP BY PROMOTING HOUSING EQUITY AND ENSURING A STABLE, SAFE, AND DIGNIFIED PLACE FOR RESIDENTS. THE PARK CDC'S COMMITMENT TO ADDRESSING THE HOUSING CRISIS FOSTERS INCLUSIVENESS WHERE EVERYONE CAN THRIVE.

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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 $253,609
Program Service Revenue $0
Investment Income $0
Other Revenue $135,538
TOTAL REVENUE $389,147

Expense Breakdown

Grants Paid $0
Salaries & Benefits $213,632
Fundraising Expenses $0
Program Expenses $259,376
Other Expenses $111,417
TOTAL EXPENSES $325,049

Year-over-Year Comparison

2024 2023 Change
Revenue $389,147 $213,639 +0.8%
Expenses $325,049 $218,314 +0.5%
Net Income $64,098 $-4,675 -14.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
9
Independent Members
9
Employees
3
Volunteers
123

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
5
$108,333
Total Directors
10
$108,333
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FREDA LESTER CHAIR 5.00
Officer Director
$0 $0 $0
JAMES JACKSON VICE CHAIR 5.00
Officer Director
$0 $0 $0
RICHARD C CARTER TREASURER 2.00
Officer Director
$0 $0 $0
ANNETTA WATKINS-FOARD SECRETARY 2.00
Officer Director
$0 $0 $0
MICHAEL CRISP BOARD MEMBER 1.00
Director
$0 $0 $0
HARRY MACK BOARD MEMBER 1.00
Director
$0 $0 $0
MONICA WOOD BOARD MEMBER 1.00
Director
$0 $0 $0
RAPHAEL THOMAS BOARD MEMBER 1.00
Director
$0 $0 $0
NINA WYNN BOARD MEMBER 1.00
Director
$0 $0 $0
CHANDA HURMS EXECUTIVE DI 40.00
Officer Director
$96,933 $11,400 $108,333
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
2024 $389,147 $325,049 $557,357 $64,098
2023 $213,639 $218,314 $43,171 $-4,675
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