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Nonprofiteer
← MERRIMACK VALLEY HOUSING PARTNERSHIP INC

Form 990 for tax year 2024

Filed by MERRIMACK VALLEY HOUSING PARTNERSHIP INC.

Totals

Total revenue
$1,353,822
Total expenses
$1,274,231
Contributions and grants received
$947,215
Grants paid
$440,000
Program service revenue
$362,608
Investment income
$43,999
Other revenue
$0
Total assets, end of year
$3,139,594
Total liabilities, end of year
$1,204,338
Net assets or fund balances, end of year
$1,935,256
Program services expenses (Part IX)
$939,299
Management and general expenses
$262,859
Fundraising expenses
$72,073
Program service expenses (Part III)
$939,299

Program services were 73.7% 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)

    $771,008

  • 1f · All other contributions, gifts and grants

    $176,207

  • 2a · Program service revenue: FEE FOR SERVICES

    total $296,494 · related or exempt $296,494

  • 2b · Program service revenue: COURSE FEES

    total $66,114 · related or exempt $66,114

  • 3 · Investment income

    total $32,295 · excluded $32,295

  • 7a · Gross sales of assets other than inventory

    securities $171,526

  • 7b · Less cost or other basis and sales expenses

    securities $159,822

  • 7c · Gain or loss

    securities $11,704

  • 7d · Net gain or loss

    total $11,704 · excluded $11,704

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $440,000 · program services $440,000

  • 5 · Compensation of officers, directors and key employees

    total $153,557 · program services $107,490 · management and general $30,711 · fundraising $15,356

  • 7 · Other salaries and wages

    total $271,883 · program services $190,318 · management and general $54,377 · fundraising $27,188

  • 8 · Pension plan contributions

    total $4,651 · program services $3,256 · management and general $930 · fundraising $465

  • 9 · Other employee benefits

    total $66,565 · program services $46,595 · management and general $13,313 · fundraising $6,657

  • 10 · Payroll taxes

    total $32,191 · program services $22,534 · management and general $6,438 · fundraising $3,219

  • 11c · Fees: accounting

    total $39,856 · management and general $39,856

  • 11f · Fees: investment management

    total $6,863 · management and general $6,863

  • 11g · Fees: other

    total $48,776 · program services $34,143 · management and general $9,755 · fundraising $4,878

  • 12 · Advertising and promotion

    total $17,392 · management and general $17,392

  • 13 · Office expenses

    total $42,781 · program services $29,947 · management and general $8,556 · fundraising $4,278

  • 14 · Information technology

    total $33,055 · program services $23,139 · management and general $6,611 · fundraising $3,305

  • 16 · Occupancy

    total $40,111 · program services $28,078 · management and general $8,022 · fundraising $4,011

  • 17 · Travel

    total $1,916 · program services $1,341 · management and general $383 · fundraising $192

  • 19 · Conferences, conventions and meetings

    total $2,123 · program services $1,486 · management and general $425 · fundraising $212

  • 20 · Interest

    total $5,590 · management and general $5,590

  • 22 · Depreciation, depletion and amortization

    total $39,666 · management and general $39,666

  • 23 · Insurance

    total $3,325 · management and general $3,325

  • 24a · Other expenses: FOOD FOR MEETING/CLASSES

    total $7,262 · program services $3,631 · management and general $3,631

  • 24b · Other expenses: SUBSCRIPTIONS

    total $6,312 · management and general $6,312

  • 24c · Other expenses: COPYING & PRINTING

    total $4,908 · program services $4,418 · management and general $245 · fundraising $245

  • 24d · Other expenses: MISCELLANEOUS

    total $2,923 · program services $2,923

  • 24e · All other expenses

    total $2,525 · management and general $458 · fundraising $2,067

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $525,577 · end of year $297,598

  • 2 · Savings and temporary cash investments

    end of year $257,318

  • 3 · Pledges and grants receivable

    end of year $13,996

  • 4 · Accounts receivable

    beginning of year $980 · end of year $23,422

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,684 · end of year $27,167

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

    $579,397

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

    $38,412

  • 10c · Land, buildings and equipment, net

    beginning of year $32,906 · end of year $540,985

  • 11 · Investments: publicly traded securities

    beginning of year $675,263 · end of year $636,485

  • 15 · Other assets

    beginning of year $509,022 · end of year $1,342,623

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,181 · end of year $407,495

  • 25 · Other liabilities

    end of year $796,843

  • 27 · Net assets without donor restrictions

    beginning of year $1,742,875 · end of year $1,921,159

  • 28 · Net assets with donor restrictions

    beginning of year $2,376 · end of year $14,097

Mission and programs · 2024

Mission

TO PROMOTE RESPONSIBLE AND SUSTAINABLE HOME OWNERSHIP OPPORTUNITIES FOR LOW AND MODERATE INCOME EARNERS BY PRODUCING COMPREHENSIVE TRAINING AND COUNSELING, AS WELL AS PROMOTING THE USE OF SPECIAL MORTGAGE PRODUCTS AND DOWN PAYMENT ASSISTANCE PROGRAMS.

  • THE PROJECT GENESIS HOME BUYER TRAINING SERIES IS PROVIDED IN ENGLISH, SPANISH, AND KHMER, REACHING >800 PARTICIPANTS EACH YEAR. MORE THAN 60% HAVE INCOMES OF 80% OR LESS OF THE AREA MEDIAN INCOME. NEARLY 8,000 HOUSEHOLDS HAVE PURCHASED THEIR FIRST HOME AFTER COMPLETING THE TRAINING.

    Expenses $939,299 · Grants $440,000 · Revenue $362,208

  • FOR TRAINING SERIES GRADUATES, MVHP PROVIDES 1:1 HOME BUYER COUNSELING FOR NO ADDITIONAL COST. THIS INCLUDES CREDIT BUILDING, SAVINGS PLANS, BUILDING THE TEAM (AGENT, LENDER, INSPECTOR), AND GUIDANCE ON ELIGIBILITY FOR PROGRAMS SUCH AS DOWN PAYMENT ASSISTANCE AND SECTION 8 TO HOMEOWNERSHIP.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Cathy Mercado

    EXECUTIVE DI

    Total calculated
    $153,557
    From this org
    $120,213
    From related orgs
    $0
    Other
    $33,344
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,213
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $33,344
    Filer's total
    $153,557

  • Paulette Renault-Caragianes

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Mercy Anampiu

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Bethany Watson

    CLERK

    Total calculated
    $0
    Hours/week
    1

  • Francey Slater

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Mayte Ramos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Breda

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carl W Howell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ann Ngeth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marisol Nobrega

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Diane Silva

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kristina Vangos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Germaine Vigeant-Trudel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joseph Lussier

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tiana Laurence

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Christine Martello

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Maria McDuffie Clark

    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

  • 1a · Discretionary spending account
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses

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

Provenance

Return type
form_990
Tax year
2024
Filed
25 April 2025
IRS schema version
2024v5.0
Source object
202501269349302740

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