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Nonprofiteer
← GLOUCESTER HOUSING INC

Form 990 for tax year 2023

Filed by GLOUCESTER HOUSING INC.

Totals

Total revenue
$53,167
Total expenses
$73,238
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$53,047
Investment income
$120
Other revenue
$0
Total assets, end of year
$559,259
Total liabilities, end of year
$287,943
Net assets or fund balances, end of year
$271,316
Program services expenses (Part IX)
$67,292
Management and general expenses
$5,946
Fundraising expenses
$0
Program service expenses (Part III)
$67,292

Program services were 91.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: RENTS

    total $53,047 · related or exempt $53,047

  • 3 · Investment income

    total $120 · excluded $120

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $5,748 · program services $2,402 · management and general $3,346

  • 11c · Fees: accounting

    total $2,600 · management and general $2,600

  • 16 · Occupancy

    total $40,357 · program services $40,357

  • 22 · Depreciation, depletion and amortization

    total $20,977 · program services $20,977

  • 23 · Insurance

    total $3,243 · program services $3,243

  • 24a · Other expenses: EQUIP. RENT & MAINT.

    total $240 · program services $240

  • 24b · Other expenses: OTHER EXPENSES

    total $73 · program services $73

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,503 · end of year $675

  • 2 · Savings and temporary cash investments

    beginning of year $33,668 · end of year $35,288

  • 4 · Accounts receivable

    end of year $5,865

  • 10a · Land, buildings and equipment: cost or other basis

    $780,829

  • 10b · Land, buildings and equipment: accumulated depreciation

    $263,398

  • 10c · Land, buildings and equipment, net

    beginning of year $537,653 · end of year $517,431

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,215 · end of year $5,628

  • 23 · Secured mortgages and notes payable

    beginning of year $147,803 · end of year $148,559

  • 25 · Other liabilities

    beginning of year $130,419 · end of year $133,756

  • 27 · Net assets without donor restrictions

    beginning of year -$285,213 · end of year -$305,284

  • 28 · Net assets with donor restrictions

    beginning of year $576,600 · end of year $576,600

Mission and programs · 2023

Mission

HOLD REAL ESTATE FOR ITS RELATED 501(C)(3) ORGANIZATION.

Activities or mission (Part I)

HOLD REAL ESTATE FOR NORTHEAST ARC, AN AFFILIATED 501(C)(3) ORGANIZATION.

  • REAL ESTATE - GLOUCESTER HOUSING, INC. OWNS A RESIDENTIAL HOME IN GLOUCESTER, MA BUILT WITH HUD FUNDING, WHICH IS HOME TO 5 LOW INCOME, HANDICAPPED INDIVIDUALS WHO ARE RECEIVING SERVICES THROUGH PROGRAMS OPERATED BY NORTHEAST ARC, INC. AN AFFILIATED 501(C)(3) NON-PROFIT ORGANIZATION.

    Expenses $67,292 · Revenue $53,047

As filed on the 2023 return.

Listed in Part VII

  • JULIE CUMMINGS

    PRESIDENT/DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • GEORGE HARRINGTON

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • SHARI MUNRO

    CLERK/DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • JO ANN SIMONS

    CEO

    Total calculated
    $607,560
    From this org
    $0
    From related orgs
    $396,082
    Other
    $211,478
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $339,165 related
    Bonus
    $0 + $56,656 related
    Other
    $0 + $261 related
    Deferred
    $0 + $178,300 related
    Nontaxable benefits
    $0 + $33,178 related
    Filer's total
    $0 + $607,560 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
GLOUCESTER HOUSING, INC. DOES NOT HAVE ANY EMPLOYEES. THE CEO IS COMPENSATED BY NORTHEAST ARC, INC., A RELATED ORGANIZATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
26 February 2025
IRS schema version
2023v6.0
Source object
202520579349301817

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