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Nonprofiteer
← 25 SCHOOL STREET INC

Form 990 for tax year 2024

Filed by 25 SCHOOL STREET INC.

Totals

Total revenue
$767,334
Total expenses
$968,028
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$755,629
Investment income
$98
Other revenue
$11,607
Total assets, end of year
$5,970,660
Total liabilities, end of year
$9,142,521
Net assets or fund balances, end of year
-$3,171,861
Program services expenses (Part IX)
$904,130
Management and general expenses
$63,898
Fundraising expenses
$0
Program service expenses (Part III)
$904,130

Program services were 93.4% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $751,279 · related or exempt $751,279

  • 2b · Program service revenue: LAUNDRY INCOME

    total $4,350 · related or exempt $4,350

  • 3 · Investment income

    total $98 · excluded $98

  • 11a · Other revenue: PAYROLL REIMBURSEMENT

    total $11,607 · related or exempt $11,607

  • 11e · Other revenue, total

    $11,607

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $79,413 · program services $79,413

  • 9 · Other employee benefits

    total $13,843 · program services $13,843

  • 10 · Payroll taxes

    total $6,853 · program services $6,853

  • 11a · Fees: management

    total $44,607 · management and general $44,607

  • 11b · Fees: legal

    total $915 · program services $915

  • 11c · Fees: accounting

    total $19,291 · management and general $19,291

  • 13 · Office expenses

    total $18,789 · program services $18,789

  • 16 · Occupancy

    total $184,534 · program services $184,534

  • 20 · Interest

    total $413 · program services $413

  • 22 · Depreciation, depletion and amortization

    total $232,340 · program services $232,340

  • 23 · Insurance

    total $67,657 · program services $67,657

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $124,844 · program services $124,844

  • 24b · Other expenses: RESIDUAL RECEIPT-EXPENS

    total $123,303 · program services $123,303

  • 24c · Other expenses: REAL ESTATE TAXES

    total $51,207 · program services $51,207

  • 24d · Other expenses: TAXES AND LICENSES

    total $19 · program services $19

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $16,285 · end of year $122,138

  • 4 · Accounts receivable

    beginning of year $4,772 · end of year $149,584

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,208 · end of year $0

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

    $10,145,109

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

    $4,881,714

  • 10c · Land, buildings and equipment, net

    beginning of year $5,489,135 · end of year $5,263,395

  • 14 · Intangible assets

    beginning of year $7,415 · end of year $7,002

  • 15 · Other assets

    beginning of year $455,755 · end of year $428,541

  • 17 · Accounts payable and accrued expenses

    beginning of year $218,190 · end of year $39,053

  • 21 · Escrow or custodial account liability

    beginning of year $14,103 · end of year $14,704

  • 23 · Secured mortgages and notes payable

    beginning of year $8,415,660 · end of year $8,415,660

  • 25 · Other liabilities

    beginning of year $313,784 · end of year $673,104

  • 27 · Net assets without donor restrictions

    beginning of year -$2,971,167 · end of year -$3,171,861

Mission and programs · 2024

Mission

TO ENGAGE IN THE DEVELOPMENT, CONSTRUCTION, OWNERSHIP AND OPERATION OF A RESIDENTIAL HOUSING PROJECT UNDER SECTION 202 OF THE HOUSING ACT OF 1959.

Activities or mission (Part I)

TO ENGAGE IN THE DEVELOPMENT, CONSTRUCTION, OWNERSHIP, AND OPERATION OF A RESIDENTIAL HOUSING PROJECT UNDER SECTION 202 OF THE HOUSING ACT OF 1959.

  • OPERATED A COMMUNITY OF 46 UNITS FOR RENTAL TO RESIDENTS OF LOW AND MODERATE INCOME, LOCATED IN JAMAICA PLAIN, MASSACHUSETTS.

    Expenses $904,130 · Revenue $767,236

As filed on the 2024 return.

Listed in Part VII

  • Nancy Emerson-Lombardo

    CLERK

    Total calculated
    $0
    Hours/week
    2 + 2.3 related

  • Cheryl Dorsey

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 2.3 related

  • Marie E Coleman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2.3 related

  • Rudolph R Russell Jr

    CO-PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 2.3 related

  • Marilyn Flowers Marion

    ASSISTANT CLERK

    Total calculated
    $0
    Hours/week
    2 + 2.3 related

  • Victoria Williams

    CO-PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 2.3 related

  • Royal L Bolling

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2.3 related

  • Louis A Elisa II

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 2.3 related

  • Walter Ramos

    PRESIDENT

    Total calculated
    $673,705
    From this org
    $0
    From related orgs
    $641,527
    Other
    $32,178
    Hours/week
    1 + 47 related

    Schedule J breakdown matched by us

    Base
    $0 + $461,794 related
    Bonus
    $0 + $91,637 related
    Other
    $0 + $88,096 related
    Deferred
    $0 + $22,880 related
    Nontaxable benefits
    $0 + $9,298 related
    Filer's total
    $0 + $673,705 related

  • Natalya Leshchiner

    CHIEF FINANCIAL OFFICER

    Total calculated
    $293,068
    From this org
    $0
    From related orgs
    $264,843
    Other
    $28,225
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $221,775 related
    Bonus
    $0 + $19,261 related
    Other
    $0 + $23,807 related
    Deferred
    $0 + $9,378 related
    Nontaxable benefits
    $0 + $18,847 related
    Filer's total
    $0 + $293,068 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. 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

The filer's explanations (Part III)

PART I, LINE 3
ROGERSON COMMUNITIES, INC. (04-2104319) IS THE RELATED ORGANIZATION THAT ESTABLISHES COMPENSATION FOR NATALYA LESHCHINER AND WALTER RAMOS. THE METHODS USED TO ESTABLISH COMPENSATION ARE AS FOLLOWS: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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.

  • COUNCIL TOWER LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA · general or managing partner

  • 2055 COLUMBUS AVENUE LP

    LOW INCOME HOUSING · MA

  • BEACON HOUSE ROGERSON LP

    RESIDENTIAL HOUSING · MA

Related corporations and trusts

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

  • 2055 COLUMBUS AVENUE INC

    LOW INCOME HOUSING · MA

  • BEACON HOUSE CORPORATION

    RESIDENTIAL HOUSING · MA

  • ROSLINDALE COOPERATIVE CORPORATION

    RESIDENTIAL HOUSING · MA

Provenance

Return type
form_990
Tax year
2024
Filed
24 April 2026
IRS schema version
2024v5.5
Source object
202611289349300301

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