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Nonprofiteer
← LORETTO OBRIEN ROAD HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2023

Filed by LORETTO OBRIEN ROAD HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$270,804
Total expenses
$389,407
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$268,071
Investment income
$8
Other revenue
$2,725
Total assets, end of year
$2,726,340
Total liabilities, end of year
$75,298
Net assets or fund balances, end of year
$2,651,042
Program services expenses (Part IX)
$329,259
Management and general expenses
$60,148
Fundraising expenses
$0
Program service expenses (Part III)
$329,259

Program services were 84.6% 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.

  • 2a · Program service revenue: RENTAL INCOME - TENANT

    total $172,507 · related or exempt $172,507

  • 2b · Program service revenue: RENTAL INCOME - HUD

    total $95,564 · related or exempt $95,564

  • 3 · Investment income

    total $8 · excluded $8

  • 11a · Other revenue: OTHER MISC. INCOME

    total $2,725 · related or exempt $2,725

  • 11e · Other revenue, total

    $2,725

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $38,003 · program services $38,003

  • 8 · Pension plan contributions

    total $2,281 · program services $2,281

  • 9 · Other employee benefits

    total $6,668 · program services $6,668

  • 10 · Payroll taxes

    total $3,073 · program services $3,073

  • 11a · Fees: management

    total $25,529 · management and general $25,529

  • 11b · Fees: legal

    total $1,100 · management and general $1,100

  • 11c · Fees: accounting

    total $12,807 · management and general $12,807

  • 12 · Advertising and promotion

    total $298 · management and general $298

  • 13 · Office expenses

    total $12,718 · management and general $12,718

  • 16 · Occupancy

    total $138,367 · program services $138,367

  • 19 · Conferences, conventions and meetings

    total $135 · management and general $135

  • 22 · Depreciation, depletion and amortization

    total $113,785 · program services $113,785

  • 23 · Insurance

    total $26,611 · program services $26,611

  • 24a · Other expenses: MISC. ADMIN

    total $7,561 · management and general $7,561

  • 24b · Other expenses: BAD DEBT

    total $471 · program services $471

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,828 · end of year $1,211

  • 4 · Accounts receivable

    beginning of year $2,081 · end of year $312

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,641 · end of year $13,077

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

    $4,394,663

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

    $1,788,066

  • 10c · Land, buildings and equipment, net

    beginning of year $2,673,395 · end of year $2,606,597

  • 15 · Other assets

    beginning of year $111,805 · end of year $105,143

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,725 · end of year $59,242

  • 19 · Deferred revenue

    beginning of year $198

  • 25 · Other liabilities

    beginning of year $15,182 · end of year $16,056

  • 27 · Net assets without donor restrictions

    beginning of year -$1,015,542 · end of year -$1,134,145

  • 28 · Net assets with donor restrictions

    beginning of year $3,785,187 · end of year $3,785,187

Mission and programs · 2023

Mission

THE CORPORATION WAS ORGANIZED SOLELY AND SPECIFICALLY TO DEVELOP, OWN, AND OPERATE A LOW INCOME HOUSING PROJECT ON A NONPROFIT BASIS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT.

Activities or mission (Part I)

LOW-INCOME HOUSING PROJECT

  • OPERATION OF A 39-UNIT IS SUBJECT TO A REGULATORY AGREEMENT FOR NONPROFIT AND PUBLIC MORTGAGES UNDER SECTION 202 OF THE NATIONAL HOUSING ACT.

    Expenses $329,259 · Revenue $270,796

As filed on the 2023 return.

Listed in Part VII

  • KIMBERLY TOWNSEND

    CHAIRPERSON

    Total calculated
    $802,458
    From this org
    $0
    From related orgs
    $775,079
    Other
    $27,379
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $586,444 related
    Bonus
    $0 + $88,635 related
    Other
    $0 + $100,000 related
    Deferred
    $0 + $23,041 related
    Nontaxable benefits
    $0 + $4,338 related
    Filer's total
    $0 + $802,458 related

  • JOHN MURRAY

    BOARD MEMBER

    Total calculated
    $309,744
    From this org
    $0
    From related orgs
    $305,506
    Other
    $4,238
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $283,652 related
    Bonus
    $0 + $17,417 related
    Other
    $0 + $4,437 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $4,238 related
    Filer's total
    $0 + $309,744 related

  • SISTER LINDA ANN PALMISANO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SISTER JANE BOURNE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOHN BRENNAN

    SECRETARY

    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

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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.

Disregarded entities

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

Provenance

Return type
form_990
Tax year
2023
Filed
1 February 2025
IRS schema version
2023v6.0
Source object
202500349349301600

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