Primary Care Development Corporation
Primary Care Development Corporation
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About this organization
Mission
PCDC's mission is to catalyze excellence in primary care – a cornerstone of healthy, thriving communities – through strategic community investment, capacity building, and policy initiatives to achieve health equity.
About
Capital investment: Supporting primary care expansion. PCDC provides the capital and expertise to build, renovate, and expand community-based health facilities so that care is offered in settings that promote dignity and efficiency. Certified as a community development financial institution (CDFI) by the United States Treasury, PCDC is a key source of capital for the primary care sector and to date has financed over 136 primary care projects valued at more than $1 billion. This investment has created the capacity to provide 3.55 million medical visits annually to meet the primary care needs of more than 1 million patients throughout the United States. PCDC's investment has transformed 1.85 million square feet of space into fully functioning primary care practices and created or preserved over 9,900 jobs in low-income communities. PCDC has experienced no loan losses in its portfolio to date and has received an AAA+2 performance rating from the CDFI assessment and rating system (CARS). Highlights of recent capital investment accomplishments include: Care Resource Health Centers, Inc.: PCDC's $6 million in debt financing and $10 million in new markets tax credit allocation will allow this South Florida provider to nearly double the size of its main facility, resulting in a 49,000-square-foot, seven-story clinic. The renovation will enable Care Resource to expand its offerings, including primary care, internal medicine, pediatric care, OB/GYN and women's health, podiatry, urology, dental, and behavioral health counseling. Care Resource is a particularly important asset in Miami-Dade County, where new HIV diagnoses are more than triple the national average, and 56 percent of cases are in the Latinx community. Henry J. Austin Center: Through $2.95 million in PCDC financing, the Trenton-based Henry J. Austin Center to expand and upgrade its main site, which has not been renovated since construction in 1977. The financing also enables the center to refinance its debt, resulting in a stronger balance sheet. Renovation will incorporate new group therapy rooms, behavioral health counseling spaces, and treatment zones. Construction will emphasize trauma-informed care principles, including therapeutic design elements to the physical environment part of a holistic approach to treating the effects of trauma. NewCourtland Senior Services: PCDC completed financing of its first project in Philadelphia: a 28,000-square-foot center that will provide primary care services and safe, respectful living accommodations for seniors in their own community. The $19.8 million financing enables NewCourtland to construct a Living Independence for the Elderly (LIFE) center to be operated by InnovAge Pennsylvania Life LLC. The new center will serve over 480 low-income seniors at full capacity and provide an estimated 50 health care services per day, in addition to creating 80 new full-time jobs and 165 construction jobs. PCDC provided $1.8 million in debt financing and $6.5 million in new markets tax credit allocation. Community Health Centers of the Central Coast, Inc.: Through $10 million in new markets tax credit allocation and a $7.31 million loan from PCDC, Community Health Centers will create two new health care 'supercenters' in rural California. When completed, both state-of-the-art facilities will expand critical and life-saving primary care to an underserved agricultural region. The sites will occupy a total of 48,800 square feet, serving a combined 29,000 patients through 104,000 visits and creating 120 full-time jobs and 91 construction jobs. These supercenters facilities with extended operating hours that provide a full range of health care services including primary care for all ages, optometry, dentistry, chiropractic care, mental health, nutrition, lab, pharmacy, and other specialty services. St. Joseph's Rehabilitation Center, Inc.: A $3.3 million project will bring much-needed substance use services to New York State's rural North Country, following accelerated bridge financing from PCDC and the New York State Office of Alcoholism and Substance Abuse Services. The financing allows St. Joseph's to co-locate three important programs - a 10-bed detoxification unit, a 24/7 open access center, and an expanded outpatient clinic - in one 8,000-square-foot renovated warehouse in the village of Saranac Lake. The expansion significantly affects a medically underserved, 4,000-square-mile area of the North Country, New York State's largest geographical region. Although an estimated one in 10 residents is chemically dependent, the nearest options for care are located hours away in Albany or Syracuse.
Interesting data from their 2020 990 filing
The non-profit's mission, as described in the filing, is “Pcdc achieves its mission by offering flexible financing to build and modernize community-based facilities; providing capacity building, coaching, and training to strengthen care delivery; and leading policy initiatives, as described below.”.
When describing its duties, they were characterized as: “Founded in 1993, primary care development corporation ("pcdc") believes that primary care is transformational and a cornerstone of healthy, thriving communities. pcdc catalyzes excellence in primary care through strategic community investment, capacity building, and policy initiatives to achieve health equity.”.
- The non-profit has complied with legal regulations by reporting their state of operation as NY.
- The filing shows that the non-profit's address as of 2020 is 45 BROADWAY SUITE 530, NEW YORK, NY, 10006.
- As of 2020, the non-profit has reported a total of 65 employees on their form.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $2,378,625.
- The organization has 23 independent voting members.
- The organization was formed in 1993.
- The organization pays $7,061,664 in salary, compensation, and benefits to its employees.
- The organization pays $232,015 in fundraising expenses.
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