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RIVERCREST DEVELOPMENT CORPORATION
AMSTERDAM, NY · EIN 141815076 · Form 990 · FY2024 · NTEE L21 · Housing & Shelter · Small ($100K-$1M)
revenue
$475K
expenses
$500K
net assets
$2.0M
employees
0
program ratio
69%
mission · from form 990

TO PROVIDE SERVICES TO THE POOR, DISTRESSED AND UNDERPRIVILEGED LOW-INCOME FAMILIES AND INDIVIDUALS BY DEVELOPING, ACQUIRING, CONSTRUCTING, RENOVATING, OPERATING, MAINTAINING, AND IMPROVING RENTAL HOUSING AND FACILITATING HOME OWNERSHIP OPPORTUNITIES.

profile · synthesized from sources

Rivercrest Development Corporation provides affordable housing services to low-income families and individuals in need. The organization focuses on developing, acquiring, renovating, and maintaining rental housing properties, as well as supporting home ownership opportunities. Based in Amsterdam, New York, it serves economically disadvantaged populations through direct housing interventions.

named programs · 2 · from sources

What they call their work

Affordable Rental Housing Development
Develops, acquires, constructs, and renovates rental housing units for low-income households
Homeownership Assistance
Facilitates home ownership opportunities for underprivileged individuals and families
activities · 2 groups

What they do

  • Affordable Housing Development and Management 1 activity
    • Development and management of affordable rental housing
      Develops, acquires, constructs, renovates, operates, maintains, and improves rental housing for low-income families and individuals.
  • First-Time Homebuyer Support Services 1 activity
    • Facilitation of affordable homeownership opportunities
      Facilitates home ownership opportunities for low-income families and individuals, including support for acquiring and maintaining affordable homes.
financials · form 990 · fy2024
revenue
Total revenue$475K
Contributions & grants$80K17%
Program service revenue$395K83%
Investment income$440%
Other revenue$0
expenses
Total expenses$500K
Program expenses69%
Admin / overhead31%
Fundraising0%
Salaries & benefits$232K
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$2.94M
Cash$1.33M
Investments$0
Liabilities$892K
Net assets$2.05M
Liquid reserves31.9 mo
5 years on record · 2020–2024 · YoY revenue +13.0%
leadership · form 990 part vii · fy2024

Who runs it

board members · 5
  • COLLEEN MCHEARD — CHAIR
  • DAMARIS CARBONE — EXECUTIVE DIRECTOR
  • DIANE MADEJ — SECRETARY
  • PAUL SALERNO — VICE-CHAIR
  • RICHARD DIMATTEO — TREASURER
strategies · 1

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Affordable Housing Development and Management
    methodology: affordable-housing-development
    By developing and managing affordable rental housing and supporting homeownership, we address housing instability among low-income populations because access to stable, affordable housing is foundational to economic security and community well-being.