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Nonprofiteer
← COMMON GROUND DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by COMMON GROUND DEVELOPMENT CORPORATION.

Totals

Total revenue
$280,360
Total expenses
$834,578
Contributions and grants received
$140,664
Grants paid
$0
Program service revenue
$16,273
Investment income
$24,821
Other revenue
$98,602
Total assets, end of year
$5,564,091
Total liabilities, end of year
$2,852,857
Net assets or fund balances, end of year
$2,711,234
Program services expenses (Part IX)
$270,199
Management and general expenses
$564,379
Fundraising expenses
$0
Program service expenses (Part III)
$270,199

Program services were 32.4% 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.

  • 1e · Government grants (contributions)

    $128,266

  • 1f · All other contributions, gifts and grants

    $12,398

  • 2a · Program service revenue: LOW-INCOME HOUSING

    total $16,273 · related or exempt $16,273

  • 3 · Investment income

    total $24,821 · excluded $24,821

  • 11a · Other revenue: PARTNERSHIP MGMT FEE

    total $53,292 · related or exempt $53,292

  • 11b · Other revenue: CGDC MGMT FEE

    total $45,310 · related or exempt $45,310

  • 11e · Other revenue, total

    $98,602

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $495,741 · program services $14,683 · management and general $481,058

  • 11b · Fees: legal

    total $3,310 · program services $3,310

  • 11c · Fees: accounting

    total $56,809 · management and general $56,809

  • 13 · Office expenses

    total $7,377 · program services $4,913 · management and general $2,464

  • 16 · Occupancy

    total $135,339 · program services $113,149 · management and general $22,190

  • 20 · Interest

    total $21,827 · program services $21,827

  • 22 · Depreciation, depletion and amortization

    total $35,589 · program services $35,589

  • 24a · Other expenses: PROJECT COSTS

    total $65,124 · program services $65,124

  • 24b · Other expenses: BAD DEBT EXPENSES

    total $9,000 · program services $9,000

  • 24c · Other expenses: CONTRACT SERVICES

    total $2,604 · program services $2,604

  • 24d · Other expenses: MISCELLANEOUS

    total $1,858 · management and general $1,858

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $73,239 · end of year $70,483

  • 4 · Accounts receivable

    beginning of year $1,038,394 · end of year $831,885

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,721 · end of year $286

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

    $1,064,991

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

    $559,055

  • 10c · Land, buildings and equipment, net

    beginning of year $529,126 · end of year $505,936

  • 15 · Other assets

    beginning of year $3,909,378 · end of year $4,155,501

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,208,311 · end of year $1,764,979

  • 19 · Deferred revenue

    beginning of year $2,782 · end of year $243

  • 21 · Escrow or custodial account liability

    beginning of year $1,735 · end of year $1,728

  • 23 · Secured mortgages and notes payable

    beginning of year $1,076,578 · end of year $1,085,907

  • 27 · Net assets without donor restrictions

    beginning of year $3,038,550 · end of year $2,493,722

  • 28 · Net assets with donor restrictions

    beginning of year $226,902 · end of year $217,512

Mission and programs · 2023

Mission

TO DEVELOP, OWN, AND OPERATE AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME PERSONS AND FAMILIES IN LOWELL, MA, AND OTHER COMMUNITIES IN NORTHERN MA.

Activities or mission (Part I)

TO DEVELOP AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME PERSONS IN THE GREATER LOWELL AREA.

  • COMMUNITY DEVELOPMENT - DEVELOP, OWN, AND OPERATE AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME PERSONS AND FAMILIES IN LOWELL, MA, AND OTHER COMMUNITIES IN NORTHERN MASSACHUSETTS.

    Expenses $270,199 · Revenue $114,875

As filed on the 2023 return.

Listed in Part VII

  • Glenn Goldman

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • James Hogan

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Carl Howell

    VICE PRESIDE

    Total calculated
    $179,295
    From this org
    $0
    From related orgs
    $148,550
    Other
    $30,745
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $148,550 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $7,920 related
    Nontaxable benefits
    not reported + $22,825 related
    Filer's total
    not reported + $179,295 related

  • Tim Hirbour

    ASSISTANT CL

    Total calculated
    $0
    Hours/week
    1

  • Marie Sweeney

    CLERK

    Total calculated
    $0
    Hours/week
    1

  • Germaine Vigeant-Trudel

    ASSISTANT TR

    Total calculated
    $0
    Hours/week
    1

  • Chris Hayes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Karen Frederick

    DIRECTOR

    Total calculated
    $242,056
    From this org
    $0
    From related orgs
    $223,146
    Other
    $18,910
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $223,146 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $11,106 related
    Nontaxable benefits
    not reported + $7,804 related
    Filer's total
    not reported + $242,056 related

  • Anthony Nganga

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Douglas Deschenes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jay V Lee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

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.

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.

  • TOWNE SCHOOL LIMITED PARTNERSHIP

    RELATED · HOUSING · MA · 0.01% owned · share of income $28 · share of assets $313

    Directly controlled by TOWNE SCHO

  • SB2 HOUSING LIMITED PARTNERSHIP

    RELATED · HOUSING · MA · 0.01% owned · share of income $35 · share of assets $396

    Directly controlled by SB2 HOUSIN

  • 446 MASS AVE LIMITED PARTNERSHIP

    RELATED · HOUSING · MA · 0.01% owned · share of income $60 · share of assets $1,333

    Directly controlled by 446 MASS A

  • 144 GREENMONT LIMITED PARNERSHIP

    RELATED · HOUSING · MA · 0.01% owned

    Directly controlled by 144 GREENM

Related corporations and trusts

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

  • CGDC LLC

    C CORP · DEVELOPMEN · MA · 100% owned

    Directly controlled by CGDC

  • TOWNE SCHOOL GP LLC

    C CORP · DEVELOPMEN · MA · 100% owned · share of income $28 · share of assets $313

    Directly controlled by CGDC

  • SB2 HOUSING GP LLC

    C CORP · DEVELOPMEN · MA · 100% owned · share of income $35 · share of assets $396

    Directly controlled by CGDC

  • 446 MASS AVE GP LLC

    C CORP · DEVELOPMEN · MA · 100% owned · share of income $60 · share of assets $1,333

    Directly controlled by CGDC

  • 155 GREENMONT GP LLC

    C CORP · DEVELOPMEN · MA · 100% owned

    Directly controlled by CGDC

Provenance

Return type
form_990
Tax year
2023
Filed
28 January 2025
IRS schema version
2023v6.0
Source object
202511079349301001

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