2023-11-14T18:24:14-06:00 2022-12-31 GARY MCGEE & CO LLP 1000 SW BROADWAY SUITE 1200 PORTLAND OR 97205 990 2022-01-01 931059146 PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC PORT 5032882923 6329 NE MARTIN LUTHER KING JR BL PORTLAND OR 97211 KYMBERLY HORNER EXECUTIVE DIRECTOR 5032882823 2023-11-14 KYMBERLY HORNER 999009999 1 YEE LEE MCGEE P01294356 5032222515 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KYMBERLY HORNER 6329 NE MARTIN LUTHER KING JR BLVD PORTLAND OR 97211 8883198 0 X WWW.PCRIHOME.ORG X 1991 OR TO SERVE THE REGION AS AN ADVOCATE FOR LOW-INCOME HOUSING, AS WELL AS A LOW-INCOME PROPERTY MANAGER, COMMUNITY DEVELOPER, AND CATALYST FOR USEFUL AND INNOVATIVE COMMUNITY DEVELOPMENT INITIATIVES THAT SUPPORT LOWER INCOME RESIDENTS LIVING PRIMARILY IN NORTHEAST PORTLAND NEIGHBORHOODS. 7 7 48 7 0 0 1894076 2233202 5398632 5505628 147631 815027 110018 285684 7550357 8839541 362758 260571 0 0 2608596 3210389 0 0 35227 5273096 5081111 8244450 8552071 -694093 287470 37093919 37779245 16586118 15999193 20507801 21780052 X PRESERVE, EXPAND, AND MANAGE AFFORDABLE HOUSING IN THE CITY OF PORTLAND AND PROVIDE ACCESS TO AND ADVOCACY SERVICES FOR OUR RESIDENTS. CONTINUED ON SCHEDULE O. PCRI WILL PRESERVE AND MANAGE AFFORDABLE, HIGH QUALITY, SCATTERED SITE, SINGLE FAMILY HOMES; EXPAND AND MANAGE OUR PORTFOLIO OF SMALL MULTIPLEXES; AND ACQUIRE/DEVELOP MULTI-FAMILY HOUSING TO PRESERVE AFFORDABLE HOUSING CHOICES IN OUR COMMUNITY. 0 0 5646274 5791312 PROPERTY MANAGEMENT - PROPERTY MANAGEMENT REPRESENTS THAT PART OF THE ORGANIZATION RESPONSIBLE FOR MAINTAINING THE INTEGRITY OF THE ORGANIZATION'S PHYSICAL ASSETS AND THE DAY-TO-DAY MANAGEMENT OF RENTAL OPERATIONS. ACTIVITIES INCLUDE THE PROCESSING OF APPLICATIONS FOR HOUSING, LEASING AVAILABLE UNITS, COLLECTION OF RENT, AND MONITORING COURT PROCESSES RELATING TO LEASE VIOLATIONS. PROPERTY MANAGEMENT ALSO OVERSEES THE PHYSICAL MAINTENANCE OF PORTLAND COMMUNITY REINVESTMENT INITIATIVES' ("PCRI") PROPERTIES. THIS INCLUDES REFURBISHMENT OF VACANT UNITS AND EMERGENCY, ROUTINE, AND PREVENTATIVE MAINTENANCE. 1612213 260571 SUPPORTIVE PROGRAMS - PCRI'S SUPPORTIVE PROGRAMS PROVIDE A FULL ARRAY OF CULTURALLY-SPECIFIC SERVICES TO RESIDENTS. OVER THE COURSE OF OUR 20 PLUS-YEAR HISTORY, PCRI HAS STABILIZED THOUSANDS OF FAMILIES BY PROVIDING THEM WITH AFFORDABLE RENTAL HOUSING AND ASSET BUILDING PROGRAMS AND SERVICES.HOMEBUYER EDUCATION AND COUNSELING - THIS PROGRAM PROVIDES HOMEBUYER COUNSELING AND EDUCATION TO LOW TO MODERATE-INCOME, FIRST-TIME HOMEBUYERS. OUR COMPREHENSIVE PROGRAM INCLUDES INDIVIDUAL COUNSELING, FINANCIAL EDUCATION, PEER HOMEBUYER CLUB MEETINGS, DOWN PAYMENT OR CLOSING COST ASSISTANCE, AND HUD-CERTIFIED HOMEBUYER EDUCATION. SERVICES ARE DELIVERED IN BOTH ONE-ON-ONE AND GROUP SETTINGS. HOMEOWNERSHIP RETENTION - THIS PROGRAM PROVIDES AN ARRAY OF SERVICES TO HELP LOW TO MODERATE-INCOME HOMEOWNERS AGED 55 AND OVER MAINTAIN HOMEOWNERSHIP. SERVICES INCLUDE POST-PURCHASE COUNSELING, LOSS MITIGATION COUNSELING, INFORMATION AND REFERRALS, FINANCIAL EDUCATION, TAX-DEFERMENT ASSISTANCE, AND URGENT HOME REPAIRS. WE ALSO OFFER A WIDE ARRAY OF CLASSES AND WORKSHOP ON TOPICS SUCH AS PREVENTATIVE MAINTENANCE, ELDER FRAUD, AND ESTATE PLANNING. FINANCIAL EDUCATION - THIS PROGRAM IS DESIGNED TO HELP PARTICIPANTS MANAGE THEIR PERSONAL FINANCES EFFECTIVELY AND MAKE WISE FINANCIAL DECISIONS. OUR PROGRAM ASSISTS CLIENTS WITH ESTABLISHING PERSONAL BUDGETS, EVALUATING DEBT LOADS, SETTING FINANCIAL GOALS, AND DEVELOPING A PLAN OF ACTION. SERVICES ARE DELIVERED IN BOTH ONE-ON-ONE AND GROUP SETTINGS.INDIVIDUAL DEVELOPMENT ACCOUNTS (IDA) - IN PARTNERSHIP WITH CASA OF OREGON, PCRI RESIDENTS CAN PARTICIPATE IN A 3-TO-1 MATCHED SAVINGS PROGRAM DESIGNED TO HELP FAMILIES DEVELOP THE HABIT OF SAVING. SAVINGS GOALS CAN BE IN ONE OF FOUR AREAS: HOMEOWNERSHIP, HOME REPAIR, SMALL BUSINESS DEVELOPMENT, OR EDUCATION.CAREER DEVELOPMENT - OUR CAREER DEVELOPMENT PROGRAM PROVIDES ASSISTANCE WITH JOB SEARCHING, RESUME WRITING, AND INTERVIEW PREPARATION. WE OFFER CLASSES AND WORKSHOPS IN ENGLISH LANGUAGE LEARNING, BASIC COMPUTER SKILLS, FINANCIAL EDUCATION, AND SOFT SKILLS FOR THE WORKPLACE. WE ALSO OFFER SOME TRANSPORTATION ASSISTANCE AND CHILDCARE DURING INTERVIEWS. SERVICES ARE DELIVERED IN BOTH ONE-ON-ONE AND GROUP SETTINGS. YOUTH DEVELOPMENT - OUR YOUTH PROGRAM OFFERS EDUCATIONAL AND ARTS ENRICHMENT ACTIVITIES TO K-12 YOUTH. ACTIVITIES INCLUDE AFTER-SCHOOL TUTORING, SUMMER ARTS AND HEALTH CAMPS, COMMUNITY GARDENING AND NUTRITION CLASSES, YOUTH FINANCIAL EDUCATION WORKSHOPS, SUMMER INTERNSHIPS, AND MANY OTHER SUPPLEMENTAL ACTIVITIES FOR YOUTH AND FAMILIES.THE PROGRAMS DEPARTMENT HAS BEEN VERY SUCCESSFUL IN HELPING FULFILL THE PCRI VISION OF PROVIDING AFFORDABLE HOUSING AND ASSOCIATED SERVICES THAT ACHIEVE FAMILY STABILITY, SELF-SUFFICIENCY, AND RESIDENT WEALTH CREATION. 75678 HOUSING DEVELOPMENT - HOUSING DEVELOPMENT REPRESENTS THE ADMINISTRATION AND MANAGEMENT OF ALL NEW CONSTRUCTION PROJECTS FOR PCRI. ACTIVITIES INCLUDE FEASIBILITY ANALYSES OF POTENTIAL DEVELOPMENT PROJECTS, PRODUCTION AND ASSEMBLY OF FUNDING APPLICATIONS, SELECTION AND COORDINATION OF DEVELOPMENT TEAM MEMBERS, ADMINISTRATION OF CONSTRUCTION DRAWS, AND THE PROVISION OF DUE DILIGENCE DOCUMENTATION FOR LENDERS AND FUNDERS. 7334165 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 80 0 48 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 OR X KYMBERLY HORNER 5032882923 6329 NE MARTIN LUTHER KING JR BLVD PORTLAND OR 97211 ERIC HUNTER CHAIR 1.00 X X 0 0 0 ANDY COTUGNO SECRETARY 1.00 X X 0 0 0 DAMIEN HALL TREASURER 1.00 X X 0 0 0 LINDA HARRIS DIRECTOR 1.00 X 0 0 0 REV DR LEROY HAYNES DIRECTOR 1.00 X 0 0 0 DON SHANKLIN DIRECTOR 1.00 X 0 0 0 KATHY SWIFT DIRECTOR 1.00 X 0 0 0 KYMBERLY HORNER EXECUTIVE DIRECTOR 40.00 X 211495 0 14594 211495 0 14594 1 0 1 0 DESIGN RESEARCH OFFICE 8535 SE 9TH AVENUE PORTLAND OR 97202 PROPERTY DEVELOPMENT SERVICES 654977 KENNEDY RESTORATION 13909 NE AIRPORT WAY PORTLAND OR 97230 CONSTRUCTION SERVICES 162005 GARY MCGEE & CO LLP 1000 SW BROADWAY SUITE 1200 PORTLAND OR 97205 ACCOUNTING SERVICES 129028 3 1089298 1143904 42526 2233202 RENTAL REVENUE 531110 5195641 5195641 PROPERTY MGMT FEES 532000 280959 280959 DAMAGE/REPAIR FEES 532000 27505 27505 SCREENING FEES 532000 1523 1523 5505628 124961 124961 733723 43657 690066 690066 690066 GAIN ON INSURANCE PROC 900099 221204 221204 MISCELLANEOUS 900099 64480 64480 285684 8839541 5791312 0 815027 260571 260571 226089 56522 158262 11305 2388417 2347990 38380 2047 79442 77634 1709 99 208959 198516 9801 642 307482 283941 22048 1493 105862 105862 141391 77816 63575 253727 15725 238002 258475 170998 87477 19904 8237 11667 164142 35491 128651 75055 6770 68285 1029344 981982 47362 10350 6729 3621 427561 412804 14757 1454549 1444605 9944 303411 130508 172903 PROPERTY MAINTENANCE 655993 576845 79148 OTHER 118377 82827 15909 19641 BAD DEBT EXPENSE 51615 51615 BANK AND LOAN CHARGES 11355 177 11178 8552071 7334165 1182679 35227 773743 1986501 983148 1021180 366713 283305 2931700 2668166 2455969 1987478 68605 73825 54994488 27466258 27839317 27528230 1674724 1674540 0 556020 37093919 37779245 900658 1373899 341292 317978 15059180 14029226 284988 278090 16586118 15999193 X 20363189 21328333 144612 451719 20507801 21780052 37093919 37779245 X 287470 41240 943541 X X 0 0 1 0 X 2726073 665893 2540483 1894076 2233202 10059727 2726073 665893 2540483 1894076 2233202 10059727 1595426 8464301 5074 48229 968 174436 124961 353668 65583 52355 162316 110018 285684 675956 11089351 30082294 0.76330 0.86090 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2018 AMOUNT: $ 65,583. 2019 AMOUNT: $ 52,355. 2020 AMOUNT: $ 162,316. 2021 AMOUNT: $ 110,018. 2022 AMOUNT: $ 64,480. GAIN ON INSURANCE PROCEEDS - 2022 AMOUNT: $ 221,204. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14181359 14181359 40165194 26908873 13256321 647935 557385 90550 27528230 TENANT SECURITY DEPOSITS 278090 278090 1 HOME REPAIR FINANCIAL ASSISTANCE 25 260571 PART I, LINE 2: FINANCIAL ASSISTANCE RECIPIENTS ARE IDENTIFIED THROUGH CULTURALLY SPECIFIC OUTREACH AND AFFIRMATIVE MARKETING EFFORTS. HOMEOWNERSHIP RETENTION SERVICES ARE PROVIDED TO DISTRESSED HOMEOWNERS THROUGH SPECIALIZED, CULTURALLY SPECIFIC EDUCATION, COUNSELING, CASE MANAGEMENT, AND REFERRALS. ALL CLIENTS MUST BE AT OR BELOW 80% MFI AND COMPLETE AND SIGN A VERIFIABLE INCOME CERTIFICATION FORM ATTESTING TO THE ACCURACY OF THE INFORMATION REPORTED. AN ON-SITE ASSESSMENT IS CONDUCTED AT EACH CLIENT'S RESIDENCE TO CREATE A PRIORITIZED LIST OF HOME REPAIR NEEDS. HOMEOWNER THEN SIGNS OFF ON SCOPE OF WORK TO BE PERFORMED BEFORE WORK BEGINS. UPON COMPLETION OF WORK, THE HOME REPAIRS ARE INSPECTED WITH THE PROPERTY OWNER AND CLIENT SATISFACTION IS DOCUMENTED BEFORE PAYMENT CAN BE MADE TO CONTRACTOR. X 0 0 0 0 0 0 0 0 0 KYMBERLY HORNER EXECUTIVE DIRECTOR 211495 0 0 0 0 0 6345 0 8249 0 226089 0 0 0 PART I, LINE 3 THE BOARD PERSONNEL COMMITTEE ANNUALLY REVIEWS AND DETERMINES THE EXECUTIVE DIRECTOR'S COMPENSATION. X A/C UNITS 86 42526 FAIR MARKET VALUE 0 0 0 PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF DONATED ITEMS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM. IT IS THEN REVIEWED IN DETAIL BY THE EXECUTIVE DIRECTOR AND FISCAL MANAGER PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND OFFICERS ARE COVERED BY THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. WHEN A CONFLICT IS NOTED, THE BOARD ADDRESSES THE ISSUE AND THE MEMBER WITH A CONFLICT IS NOT PERMITTED TO VOTE ON THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD PERSONNEL COMMITTEE ANNUALLY REVIEWS AND DETERMINES THE EXECUTIVE DIRECTOR'S COMPENSATION. THE EXECUTIVE DIRECTOR SETS ALL OTHER EMPLOYEE SALARIES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT 973,417. EXCESS CASH FLOW PAYMENT ON CONTINGENT LIABILITY -29,692. CHANGE IN EQUITY INVESTMENT -184. FORM 990, PART XII, LINE 3B: PCRI IS CURRENTLY UNDERGOING A SINGLE AUDIT UNDER UNIFORM GUIDANCE AND ANTICIPATES COMPLETION OF THE AUDIT IN THE NEAR TERM. PCRI TARGET HOMES #1 LLC 6329 NE MARTIN LUTHER KING JR BLVD PORTLAND OR 97211 931059146 LOW-INCOME HOUSING OR PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC PCRI CASCADIAN GP LLC 6329 NE MARTIN LUTHER KING JR BLVD PORTLAND OR 97211 931059146 LOW-INCOME HOUSING OR PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC PARK TERRACE COMMUNITY LLC 6329 NE MARTIN LUTHER KING JR BLVD PORTLAND OR 97211 931325601 LOW-INCOME HOUSING OR 943782 2411753 PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC BEATRICE MORROW COMMERCIAL LLC 6329 NE MARTIN LUTHER KING JR BLVD PORTLAND OR 97211 931059146 LOW-INCOME HOUSING OR PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC PCRI NORTHEAST HOUSING LLC 6329 NE MARTIN LUTHER KING JR BLVD PORTLAND OR 97211 931059146 LOW-INCOME HOUSING OR -90 634704 PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC PCRI NORTHEAST HOUSING 2 LLC 6329 NE MARTIN LUTHER KING JR BLVD PORTLAND OR 97211 850936129 LOW-INCOME HOUSING OR -65 1039872 PORTLAND COMMUNITY REINVESTMENT INITIATIVES INC MLK & COOK APARTMENT LP 6329 NE MARTIN LUTHER KING JR BLVD PORTLAND OR 97211 814286572 LOW-INCOME HOUSING OR PCRI NORTHEAST HOUSING LLC RELATED -90 2875951 0 1 0.00010 KING PARKS APARTMENTS LP 6329 NE MARTIN LUTHER KING JR BLVD PORTLAND OR 97211 830936053 LOW-INCOME HOUSING OR PCRI NORTHEAST HOUSING 2 LLC RELATED -65 3376090 0 1 0.00010 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1