Organizations Filed Purposes:
TO PRESERVE THE ARCHITECTURAL HERITAGE OF PROVIDENCE AND STIMULATE COMMUNITY REVITALIZATION.
NEIGHBORHOOD LOAN PROGRAM - THE ORGANIZATION PROVIDED LOANS AND TECHNICAL SERVICES TO PROPERTY OWNERS CITYWIDE WITH EMPHASIS ON THE LOW AND MODERATE INCOME NEIGHBORHOODS IN BROADWAY - ARMORY, NORTH ELMWOOD, SOUTH ELMWOOD, BRIDGHAM-ARCH, AND UPPER SOUTH PROVIDENCE HISTORIC DISTRICTS. STAFF PREPARED COST ESTIMATES FOR 28 PROPERTIES AND EXTERIOR SPECIFICATIONS FOR 25 HOUSES AND MONITORED 19 RESTORATIONS. THREE NEW LOANS TO HOMEOWNERS WERE CLOSED FOR HOUSE RESTORATIONS IN THE BROADWAY-ARMORY AND NORTH ELMWOOD HISTORIC DISTRICTS, TOTALING $105,000 OF INVESTMENT AND RESULTING IN THE REHABILITATION OF 4 RESIDENTIAL UNITS OF HISTORIC HOUSING. THE LOANS MADE BY THE FUND LEVERAGED AN ADDITIONAL $5,000 IN THE FORM OF PRIVATE EQUITY FROM THE BORROWERS' CONTRIBUTIONS FOR RESIDENTIAL PROJECTS. THE ORGANIZATION ALSO MADE NINE LOANS TOTALING $825,000 FOR NEIGHBORHOOD-BASED CONNERCIAL LOANS RESULTING IN THE REHABILITATION OR CREATING OF 19 RESIDENTIAL UNITS AND ONE COMMERCIAL UNIT. THE ORGANIZATION ALSO PROVIDED TECHNICAL ASSISTANCE TO 11 HISTORICAL PROPERTY OWNERS WHO USED PRIVATE FUNDS FOR THE RENOVATION.
DOWNCITY FUND LOAN PROGRAM - IN THE FISCAL YEAR THE ORGANIZATION MET WITH DOWNCITY FUND ADVISORY BOARD. THE BOARD REVISED AND APPROVED A WORK PROGRAM AND BUDGET FOR THE YEAR. THE PROGRAM OFFERS LOANS UP TO $1,000,000 PER DEVELOPMENT PROJECT AND STOREFRONT LOANS UP TO $50,000 PER STORE. DURING THE YEAR,4 NEW LOANS WERE CLOSED FOR A TOTAL OF $2,560,000 IN DIRECT INVESTMENT DOWNTOWN.
THE ORGANIZATION PROVIDES DEBT AND EQUITY FINANCING TO INDIVIDUALS AND ENTITIES INVOLVED IN PRESERVATION EFFORTS
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Rita Danielle Steele | BOARD MEMBER | 1 | $0 |
| Antonieta Falconi | TREASURER | 1 | $0 |
| Kenneth Mcgunagle Jr | SECRETARY | 1 | $0 |
| Brent Runyon | BOARD MEMBER | 1 | $0 |
| Mary Vales | VICE PRESIDENT | 1 | $0 |
| Tina Regan | BOARD MEMBER | 1 | $0 |
| Miguel Quezada | BOARD MEMBER | 1 | $0 |
| Barbara Sokoloff | BOARD MEMBER | 1 | $0 |
| Drew Kaplan | BOARD MEMBER | 1 | $0 |
| Peter Pagonis | BOARD MEMBER | 1 | $0 |
| James Barnes | BOARD MEMBER | 1 | $0 |
| Christine Malecki West | PRESIDENT | 1 | $0 |
| Kyle A Macdonald | BOARD MEMBER | 1 | $0 |
| Virginia Branch | BOARD MEMBER | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/201920159349301147_public.xml