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Nonprofiteer
← BPHC NORTHHAMPTON DEVELOPMENT CORP INC

Form 990 for tax year 2022

Filed by BPHC NORTHHAMPTON DEVELOPMENT CORP INC.

Totals

Total revenue
$2,078,212
Total expenses
$1,875,000
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,078,212
Investment income
$0
Other revenue
$0
Total assets, end of year
$20,511,969
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$20,511,969
Program services expenses (Part IX)
$1,875,000
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,875,000

Program services were 100.0% 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: CAPITAL LEASE PAYMENTS

    total $1,875,000 · related or exempt $1,875,000

  • 2b · Program service revenue: ACCRUED INTEREST ON LO

    total $203,212 · related or exempt $203,212

Functional expenses

Part IX, the statement of functional expenses.

  • 21 · Payments to affiliates

    total $1,875,000 · program services $1,875,000

Balance sheet

Part X, book values.

  • 7 · Other notes and loans receivable

    beginning of year $20,308,757 · end of year $20,511,969

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $20,308,757 · end of year $20,511,969

Mission and programs · 2022

Mission

THE ORGANIZATIONS MISSION IS TO PROMOTE SOCIAL WELFARE BY BRINGING ABOUT CIVIC BETTERMENTS AND SOCIAL IMPROVEMENTS BY LESSONING THE BURDENS ON GOVERNMENT AND HELPING TO PROVIDE AFFORDABLE HOUSING TO RESIDENTS OF THE CITY OF BOSTON, THEREBY RELIEVING THE POOR AND DISTRESSED. OVER THE LAST 7 YEARS WE HAVE HELPED REHABILITATE AND MAINTAIN 347 RESIDENTIAL UNITS, OF WHICH, 265 ARE AFFORDABLE TO RESIDENTS MAKING 60% OF THE AREA MEDIAN INCOME OR LESS ON OUR CAMPUS KNOWN AS THE NORTHAMPTON SQUARE CAMPUS.

Activities or mission (Part I)

PROMOTE CIVIC BETTERMENT, SOCIAL IMPROVEMENTS BY HELPING TO PROVIDE AND MAINTAIN LOW-INCOME HOUSING.

  • TO PROMOTE CIVIC BETTERMENTS, SOCIAL IMPROVEMENTS BY HELPING TO PROVIDE AFFORDABLE LOW-INCOME HOUSING IN THE CITY OF BOSTON ON THE NORTHAMPTON SQUARE CAMPUS, WITHOUT BURDENING THE GOVERNMENT. FOR PURPOSES OF REHABILITATING TWO BUILDINGS, 347 UNITS OWNED BY THE BOSTON PUBLIC HEALTH COMMISSION ("BPHC"), TWO FOR-PROFIT PARTNERSHIPS ENTERED INTO CAPITAL LEASES FOR THE TWO BUILDINGS, AND RAISED THE FUNDS TO DO A SIGNIFICANT REHABILITATION OF THE TWO BUILDINGS. PROGRAM REVENUE IS RECEIVED FROM THE PARTNERSHIPS IN THE FORM OF LEASE PAYMENTS AS WELL AS ACCRUED INTEREST ON LOANS PROVIDED THROUGH THE SALE OF STATE LOW INCOME HOUSING TAX CREDITS THAT ARE DUE UPON MATURITY. ONCE THE ORGANIZATION RECEIVES THE LEASE PAYMENTS THAT ARE CONTINGENT ON CASH AVAILABLE FROM THE PARTNERSHIPS, CASH PAYMENTS ARE PAID OUT TO THE BPHC TO FUND PROGRAMS FOR THE HOMELESS AND OTHER SERVICES. A SCHEDULE R IS ATTACHED TO DISCLOSE THE RELATED PARTY. DURING THIS YEAR THE PAYMENTS IN THE AMOUNT OF $1,875,000 WERE PAID TO THE BPHC FOR THE PROGRAM SERVICES.

    Expenses $1,875,000 · Revenue $2,078,212

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Timothy Harrington

    PRESIDENT/CLERK/DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 38 related

  • Batool Raza

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 38 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.

  • COMMONWEALTH OF MASSACHUSSETTS BOSTON PUBLIC HEALTH COMMISSION (BPHC)

    GOVERNMENT ACTIVITY · MA

Provenance

Return type
form_990
Tax year
2022
Filed
20 April 2024
IRS schema version
2022v5.0
Source object
202401169349301710

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