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Nonprofiteer
← RVM MEDFORD III HOUSING CORPORATION

Form 990 for tax year 2023

Filed by RVM MEDFORD III HOUSING CORPORATION.

Totals

Total revenue
$440,848
Total expenses
$528,399
Contributions and grants received
$203,164
Grants paid
$0
Program service revenue
$235,610
Investment income
$6
Other revenue
$2,068
Total assets, end of year
$2,085,866
Total liabilities, end of year
$56,968
Net assets or fund balances, end of year
$2,028,898
Program services expenses (Part IX)
$362,358
Management and general expenses
$166,041
Fundraising expenses
$0
Program service expenses (Part III)
$362,358

Program services were 68.6% 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.

  • 1d · Related organizations

    $2,608

  • 1e · Government grants (contributions)

    $200,556

  • 2a · Program service revenue: TENANT RENT & CHARGES

    total $235,610 · related or exempt $235,610

  • 3 · Investment income

    total $6 · excluded $6

  • 11a · Other revenue: LAUNDRY & VENDING

    total $2,068 · excluded $2,068

  • 11e · Other revenue, total

    $2,068

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $118,242 · program services $47,105 · management and general $71,137

  • 9 · Other employee benefits

    total $39,069 · program services $39,069

  • 10 · Payroll taxes

    total $10,160 · program services $10,160

  • 11a · Fees: management

    total $56,929 · management and general $56,929

  • 11c · Fees: accounting

    total $11,820 · management and general $11,820

  • 12 · Advertising and promotion

    total $1,035 · management and general $1,035

  • 13 · Office expenses

    total $41,671 · program services $18,399 · management and general $23,272

  • 16 · Occupancy

    total $102,447 · program services $102,106 · management and general $341

  • 19 · Conferences, conventions and meetings

    total $1,507 · management and general $1,507

  • 22 · Depreciation, depletion and amortization

    total $121,725 · program services $121,725

  • 23 · Insurance

    total $23,496 · program services $23,496

  • 24a · Other expenses: MISCELLANEOUS FINANCIAL

    total $298 · program services $298

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,217 · end of year $6,121

  • 4 · Accounts receivable

    beginning of year $1,765 · end of year $871

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,371 · end of year $8,931

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

    $4,579,457

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

    $2,648,111

  • 10c · Land, buildings and equipment, net

    beginning of year $2,022,367 · end of year $1,931,346

  • 15 · Other assets

    beginning of year $130,731 · end of year $138,597

  • 17 · Accounts payable and accrued expenses

    beginning of year $23,796 · end of year $24,371

  • 25 · Other liabilities

    beginning of year $31,206 · end of year $32,597

  • 27 · Net assets without donor restrictions

    beginning of year -$1,961,751 · end of year -$2,049,302

  • 28 · Net assets with donor restrictions

    beginning of year $4,078,200 · end of year $4,078,200

Mission and programs · 2023

Mission

AS LEADERS IN AFFORDABLE HOUSING, WE ARE DEDICATED TO QUALITY, RESPECT AND INTEGRITY. OUR DESIRE IS TO PROVIDE SUPPORT AND RESOURCES TO CREATE AN ENVIRONMENT THAT WILL ENRICH THE LIVES OF OUR EMPLOYEES AND RESIDENTS. WE TAKE PRIDE IN BUILDING, ADMINISTERING, AND MAINTAINING HIGH STANDARDS OF SERVICE FOR INDIVIDUALS AND FAMILIES. WITH CONTINUED EDUCATION, COMMUNITY INVOLVEMENT, AND REFINED PRACTICES, WE WILL DEVELOP AND MAINTAIN SUPERIOR AFFORDABLE HOUSING THAT SURPASSES EXPECTATIONS.

Activities or mission (Part I)

AS LEADERS IN AFFORDABLE HOUSING, WE ARE DEDICATED TO QUALITY, RESPECT ANDINTEGRITY. OUR DESIRE IS TO PROVIDE SUPPORT AND RESOURCES TO CREATE AN ENVIRONMENT THAT WILL ENRICH THE LIVES OF OUR EMPLOYEES AND RESIDENTS. WE TAKE PRIDE IN BUILDING, ADMINISTERING, AND MAINTAINING HIGH STANDARDS OF SERVICE FOR INDIVIDUALS AND FAMILIES. WITH CONTINUED EDUCATION, COMMUNITY INVOLVEMENT, AND REFINED PRACTICES, WE WILL DEVELOP AND MAINTAIN SUPERIOR AFFORDABLE HOUSING THAT SURPASSES EXPECTATIONS.

  • THE QUAIL RIDGE RETIREMENT COMMUNITY OPERATES APARTMENT UNITS FOR LOW-INCOME ELDERLY INDIVIDUALS.

    Expenses $362,358 · Revenue $235,610

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • LARRY BOECK

    CHAIR

    Total calculated
    $0
    Hours/week
    0.04 + 3.96 related

  • SHAWNA SLOAN

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.04 + 0.96 related

  • PATRICIA NARUS

    TREASURER

    Total calculated
    $0
    Hours/week
    0.04 + 0.96 related

  • PAT TOSSAVAINEN

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.04 + 0.96 related

  • BECKY SNYDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.04 + 0.96 related

  • ROBERT KERR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.04 + 0.96 related

  • DAMIEN RENNIE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.04 + 0.96 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.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
20 March 2025
IRS schema version
2023v6.0
Source object
202530799349300923

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