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Nonprofiteer
← LOWER CAPE COD COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by LOWER CAPE COD COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$3,320,934
Total expenses
$3,597,286
Contributions and grants received
$1,745,037
Grants paid
$0
Program service revenue
$1,564,249
Investment income
$435
Other revenue
$11,213
Total assets, end of year
$10,768,821
Total liabilities, end of year
$7,735,134
Net assets or fund balances, end of year
$3,033,687
Program services expenses (Part IX)
$2,740,515
Management and general expenses
$550,257
Fundraising expenses
$306,514
Program service expenses (Part III)
$2,740,515

Program services were 76.2% 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)

    $798,714

  • 1f · All other contributions, gifts and grants

    $946,323

  • 2a · Program service revenue: RENT REVENUE, NET

    total $903,899 · related or exempt $903,899

  • 2b · Program service revenue: MANAGED PROPERTIES REIMBURSEM

    total $342,106 · related or exempt $342,106

  • 2c · Program service revenue: MANAGEMENT AND CONSULTING FEE

    total $205,746 · related or exempt $205,746

  • 2d · Program service revenue: FISHING PERMITS

    total $73,732 · related or exempt $73,732

  • 2e · Program service revenue: NOTES INTEREST

    total $38,766 · related or exempt $38,766

  • 3 · Investment income

    total $435 · excluded $435

  • 8a · Fundraising events: gross income

    $15,475

  • 8b · Fundraising events: direct expenses

    $13,980

  • 8c · Net income from fundraising events

    total $1,495

  • 11a · Other revenue: OTHER INCOME

    total $9,718 · related or exempt $9,718

  • 11e · Other revenue, total

    $9,718

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,686,001 · program services $1,249,609 · management and general $247,499 · fundraising $188,893

  • 9 · Other employee benefits

    total $304,249 · program services $225,499 · management and general $44,663 · fundraising $34,087

  • 10 · Payroll taxes

    total $128,369 · program services $95,143 · management and general $18,844 · fundraising $14,382

  • 11a · Fees: management

    total $41,760 · program services $17,722 · management and general $22,910 · fundraising $1,128

  • 11b · Fees: legal

    total $27,323 · program services $11,596 · management and general $14,989 · fundraising $738

  • 11c · Fees: accounting

    total $47,179 · program services $20,023 · management and general $25,882 · fundraising $1,274

  • 11g · Fees: other

    total $74,868 · program services $16,272 · management and general $48,444 · fundraising $10,152

  • 12 · Advertising and promotion

    total $26,118 · program services $15,012 · management and general $3,389 · fundraising $7,717

  • 13 · Office expenses

    total $95,649 · program services $55,976 · fundraising $39,673

  • 16 · Occupancy

    total $173,681 · program services $122,379 · management and general $50,764 · fundraising $538

  • 17 · Travel

    total $18,453 · program services $16,804 · management and general $1,395 · fundraising $254

  • 20 · Interest

    total $127,518 · program services $123,091 · management and general $4,427

  • 22 · Depreciation, depletion and amortization

    total $368,590 · program services $348,821 · management and general $19,769

  • 23 · Insurance

    total $93,623 · program services $72,681 · management and general $20,942

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $329,073 · program services $320,861 · management and general $8,212

  • 24b · Other expenses: GRANTS AND OTHER ASSISTAN

    total $19,583 · program services $19,583

  • 24c · Other expenses: LICENSES, PERMITS & FEES

    total $14,384 · program services $3,737 · management and general $3,249 · fundraising $7,398

  • 24d · Other expenses: MEMBERSHIPS

    total $9,965 · program services $1,410 · management and general $8,275 · fundraising $280

  • 24e · All other expenses

    total $10,900 · program services $4,296 · management and general $6,604

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,805,232 · end of year $2,820,521

  • 2 · Savings and temporary cash investments

    beginning of year $208,914 · end of year $1,102,302

  • 3 · Pledges and grants receivable

    beginning of year $295,736 · end of year $150,231

  • 7 · Other notes and loans receivable

    beginning of year $421,212 · end of year $517,694

  • 8 · Inventories for sale or use

    beginning of year $513,946 · end of year $513,946

  • 9 · Prepaid expenses and deferred charges

    beginning of year $81,773 · end of year $108,962

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

    $11,228,666

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

    $5,718,973

  • 10c · Land, buildings and equipment, net

    beginning of year $5,815,105 · end of year $5,509,693

  • 15 · Other assets

    beginning of year $34,794 · end of year $45,472

  • 17 · Accounts payable and accrued expenses

    beginning of year $261,934 · end of year $267,977

  • 19 · Deferred revenue

    beginning of year $78,977 · end of year $87,314

  • 23 · Secured mortgages and notes payable

    beginning of year $7,464,745 · end of year $7,330,125

  • 25 · Other liabilities

    beginning of year $61,017 · end of year $49,718

  • 27 · Net assets without donor restrictions

    beginning of year $2,497,781 · end of year $2,404,105

  • 28 · Net assets with donor restrictions

    beginning of year $812,258 · end of year $629,582

Mission and programs · 2023

Mission

TO NURTURE A VIBRANT LOWER CAPE REGION BY PROMOTING ENVIRONMENTAL AND ECONOMIC SUSTAINABILITY, EXPANDING OPPORTUNITIES FOR LOW-AND MODERATE- INCOME RESIDENTS, AND PRESERVING OUR UNIQUE CULTURAL AND HISTORIC CHARACTER.

  • HOUSING ADVOCACY PROGRAM TO WORK WITH TOWNS ON THE LOWER CAPE TO CREATE MORE OPPORTUNITIES FOR AFFORDABLE HOUSING FOR YEAR ROUND RESIDENTS AND A FIRST TIME HOMEBUYERS PROGRAM TO PROVIDE EDUCATION TO YEAR ROUND RESIDENTS AT OR BELOW 80% OF MEDIUM INCOME.

    Expenses $2,740,515 · Revenue $1,564,249

  • HOUSING RENTAL PROGRAMS - MANAGES 72 AFFORDABLE RENTAL HOMES ACROSS LOWER CAPE COD, INCLUDING STUDIOS TO 3 BEDROOMS, STAND-ALONES TO MULTI-FAMILY PROVIDING HOUSING FOR 140 PEOPLE. ADDITIONALLY, THE PROGRAM MANAGES 28 UNITS OF MARKET RATE (NOT AFFORDABLE UNITS) STUDIOS TO THREE BEDROOM. PROVIDING HOUSING FOR 54 PEOPLE.

  • BUSINESS DEVELOPMENT - PROVIDING ACCESS TO CAPITAL THROUGH MICRO LOANS, OFFERING ONE-ON-ONE GUIDANCE AND EDUCATIONAL WORKSHOPS AND SUPPORTING LOCAL FISHING/SHELLFISHING BUSINESSES WITH EXPERTISE.

  • OTHER HOUSING PROGRAMS

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

Listed in Part VII

  • Kathleen Boyce

    CFAO

    Total calculated
    $157,407
    From this org
    $141,781
    From related orgs
    $0
    Other
    $15,626
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $141,781
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,626
    Nontaxable benefits
    not reported
    Filer's total
    $157,407

  • Jay Coburn

    CEO

    Total calculated
    $191,590
    From this org
    $174,100
    From related orgs
    $0
    Other
    $17,490
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $174,100
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,490
    Nontaxable benefits
    not reported
    Filer's total
    $191,590

  • Steve Cole

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Carole Ridley

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Paul Ruchinskas

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Jennifer Cusack

    CLERK

    Total calculated
    $0
    Hours/week
    4

  • Polly Bryson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Andrew Foss

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Koven

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert Maccready

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Marin Reinhardt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Raphael Richter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kristy Senatori

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Andrew Stern

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Aaron Polhemos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mary Kay Leonard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Fran Schofield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Anne Sigsbee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • THANKFUL CHASE PATHWAYS LLC

    HOUSING · MA · income $253,749 · assets $2,547,366

    Directly controlled by LCCCDC COMMUNITY DEVELOPMENT PARTNERSHIP

Provenance

Return type
form_990
Tax year
2023
Filed
6 February 2025
IRS schema version
2023v6.0
Source object
202540939349300434

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