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← SOMERVILLE COMMUNITY CORPORATION INC

Form 990 for tax year 2023

Filed by SOMERVILLE COMMUNITY CORPORATION INC.

Totals

Total revenue
$4,659,958
Total expenses
$5,521,151
Contributions and grants received
$979,089
Grants paid
$0
Program service revenue
$3,578,865
Investment income
$19,617
Other revenue
$82,387
Total assets, end of year
$53,175,984
Total liabilities, end of year
$57,227,684
Net assets or fund balances, end of year
-$4,051,700
Program services expenses (Part IX)
$4,808,977
Management and general expenses
$540,289
Fundraising expenses
$171,885
Program service expenses (Part III)
$4,808,977

Program services were 87.1% 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.

  • 1a · Federated campaigns

    $46,500

  • 1e · Government grants (contributions)

    $480,971

  • 1f · All other contributions, gifts and grants

    $451,618

  • 2a · Program service revenue: RENTAL INCOME

    total $3,166,723 · related or exempt $3,166,723

  • 2b · Program service revenue: PROGRAM SERVICE AND MA

    total $282,603 · related or exempt $282,603

  • 2c · Program service revenue: DEVELOPER FEES

    total $129,539 · related or exempt $129,539

  • 3 · Investment income

    total $19,617 · excluded $19,617

  • 11a · Other revenue: MISCELLANEOUS

    total $82,387 · related or exempt $82,387

  • 11e · Other revenue, total

    $82,387

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $256,612 · program services $145,173 · management and general $77,703 · fundraising $33,736

  • 7 · Other salaries and wages

    total $731,236 · program services $556,711 · management and general $96,878 · fundraising $77,647

  • 8 · Pension plan contributions

    total $5,524 · program services $3,707 · management and general $1,032 · fundraising $785

  • 9 · Other employee benefits

    total $91,669 · program services $67,683 · management and general $5,102 · fundraising $18,884

  • 10 · Payroll taxes

    total $58,886 · program services $35,887 · management and general $15,827 · fundraising $7,172

  • 11a · Fees: management

    total $82,428 · program services $82,428

  • 11b · Fees: legal

    total $57,989 · program services $49,950 · management and general $8,039

  • 11c · Fees: accounting

    total $146,571 · program services $61,271 · management and general $85,300

  • 11g · Fees: other

    total $501,432 · program services $365,276 · management and general $125,598 · fundraising $10,558

  • 13 · Office expenses

    total $148,460 · program services $115,040 · management and general $30,065 · fundraising $3,355

  • 16 · Occupancy

    total $2,199,970 · program services $2,147,876 · management and general $41,155 · fundraising $10,939

  • 19 · Conferences, conventions and meetings

    total $24,565 · program services $11,638 · management and general $7,924 · fundraising $5,003

  • 22 · Depreciation, depletion and amortization

    total $913,926 · program services $891,287 · management and general $21,224 · fundraising $1,415

  • 24a · Other expenses: BAD DEBTS

    total $334,192 · program services $334,192

  • 24b · Other expenses: MISCELLANEOUS

    total $67,691 · program services $40,858 · management and general $24,442 · fundraising $2,391

  • 24c · Other expenses: LESS: CAPITALIZED COSTS

    total -$100,000 · program services -$100,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $472,718 · end of year $557,928

  • 2 · Savings and temporary cash investments

    beginning of year $25,667 · end of year $25,667

  • 3 · Pledges and grants receivable

    beginning of year $135,364 · end of year $133,933

  • 4 · Accounts receivable

    beginning of year $300,456 · end of year $597,604

  • 9 · Prepaid expenses and deferred charges

    beginning of year $112,064 · end of year $72,757

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

    $52,698,903

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

    $6,237,182

  • 10c · Land, buildings and equipment, net

    beginning of year $46,584,710 · end of year $46,461,721

  • 15 · Other assets

    beginning of year $4,534,094 · end of year $5,326,374

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,048,880 · end of year $2,160,507

  • 23 · Secured mortgages and notes payable

    beginning of year $43,320,009 · end of year $44,001,590

  • 25 · Other liabilities

    beginning of year $10,986,691 · end of year $11,065,587

  • 27 · Net assets without donor restrictions

    beginning of year -$3,207,675 · end of year -$4,069,206

  • 28 · Net assets with donor restrictions

    beginning of year $17,168 · end of year $17,506

Mission and programs · 2023

Mission

THE SOMERVILLE COMMUNITY CORPORATION (SCC) IS A MEMBERSHIP ORGANIZATION THAT PROVIDES LEADERSHIP FOR SUSTAINING THE CITY OF SOMERVILLE AS A VIBRANT, DIVERSE AND TOLERANT COMMUNITY. WE OFFER SERVICES AND LEAD COMMUNITY ORGANIZING THAT SUPPORTS LOW- AND MODERATE-INCOME SOMERVILLE RESIDENTS IN THEIR EFFORTS TO ACHIEVE ECONOMIC SUSTAINABILITY AND INCREASE CIVIC PARTICIPATION.BUILDING ON OUR FIFTY YEARS OF HISTORY, TODAY WE ENVISION A SOMERVILLE WHERE FAMILIES AND INDIVIDUALS FROM MANY DIVERSE BACKGROUNDS AND CULTURES ENJOY EQUITABLE ACCESS TO SECURE HOUSING, JOBS, ECONOMIC STABILITY, AND OPPORTUNITIES FOR LEADERSHIP AND ACTIVE ENGAGEMENT.

  • RENTAL PROGRAMS - SIX OF SCC'S RENTAL HOUSING DEVELOPMENTS ARE OWNED DIRECTLY BY SCC: THE 12 ONE AND TWO-BEDROOM UNITS AT 110 WALNUT STREET; THE 6 THREE-BEDROOOM UNITS AT 190 GILMAN STREET; THE 18 TWO, THREE AND FOUR BEDROOM UNITS AT 33 BOW STREET; THE 14 SINGLE ROOM OCCUPANCY UNITS ON SEWALL STREET; THE 42 UNITS AT LINDEN STREET APARTMENTS; AND THE 8 ONE AND TWO-BEDROOM UNITS AT 75 CROSS STREET. ALL OF SCC'S RENTAL PROPERTIES, INCLUDING 165 UNITS OWNED THROUGH LLC'S, ARE MANAGED BY WINGATE MANAGEMENT COMPANY, UNDER CONTRACT WITH SCC.

    Expenses $3,775,972 · Revenue $3,166,723

  • AFFORDABLE HOUSING REAL ESTATE DEVELOPMENTSCC OWNS AND OPERATES OVER 340 UNITS OF RENTAL HOUSING AND MORE THAN 9,000 SQUARE FEET OF COMMERCIAL SPACE COMPRISING FOUR COMMERCIAL UNITS, WHICH ARE LEASED TO A HEALTHCARE CLINIC, DENTIST, DAYCARE CENTER AND VARIETY STORE.THE 340 UNITS WERE DEVELOPED WITH LOW INCOME HOUSING TAX CREDIT EQUITY AND VARIOUS COMBINATIONS OF AFFORDABLE HOUSING FINANCING FROM THE COMMONWEALTH OF MASSACHUSETTS, THE CITY OF SOMERVILLE'S AFFORDABLE HOUSING TRUST AND COMMUNITY PRESERVATION ACT FUNDS AND FEDERAL RESOURCES SUCH AS MCKINNEY-VENTO HOMELESS ACT, AND HOME INVESTMENT PARTNERSHIP PROGRAM FUNDS.IN MAY 2023 SOMERVILLE COMMUNITY CORPORATION WITH ITS PARTNER POAH HAD A GROUNDBREAKING TO PRESERVE 80 UNITS AND BUILDING 80 NEW AFFORDABLE HOUSING UNITS. WE ALSO STARTED THE PRE-DEVELOPMENT PROCESS TO PRESERVE 61 UNITS AT BOW STREET AND LINDEN STREET APARTMENTS.

    Expenses $416,353 · Revenue $494,529

  • ECONOMIC OPPORTUNITYSCC'S FINANCIAL LITERACY, ASSET BUILDING, AND FIRST SOURCE CAREER COUNSELING HELP PEOPLE FIND GOOD JOBS, BUILD WEALTH, AND FIND FINANCIAL STABILITY. WE ALSO OFFER TRAINING IN DIGITAL LITERACY AND COMPUTER BASICS.THE FIRST SOURCE JOBS PROGRAM HELPS LOCAL JOB SEEKERS GAIN THE SKILLS THEY NEED TO ESTABLISH A CAREER PATHWAY RESULTING IN GOOD JOBS, CAREER GROWTH, AND ECONOMIC RESILIENCY. WE OFFER 1:1 CAREER COACHING, JOB READINESS TRAINING, ESL, AND COMPUTER LITERACY SUPPORT.OUR FINANCIAL LITERACY CLASSES HELP PEOPLE BETTER UNDERSTAND DEBT, BANKING, CREDIT, AND HOW TO SAVE. OUR POPULAR FIRST-TIME BUYER CLASSES HELP PEOPLE BETTER UNDERSTAND THE OFTEN-INTIMIDATING PROCESS OF SAVING FOR AND PURCHASING A HOME, AS WELL AS HOW TO ACCESS PROGRAMS THAT CAN MAKE DOING SO MORE ACCESSIBLE.IN 2023, WE SERVED:WORKFORCE DEVELOPMENT: 293JOB PLACEMENTS: 63FINANCIAL COACHING: 29HOMEBUYER GRADUATES: 237

    Expenses $522,072

  • COMMUNITY ORGANIZING - SCC HELPS TO MAKE SOMERVILLE MORE LIVABLE, SUSTAINABLE, AND INCLUSIVE BY INCREASING AND DIVERSIFYING HOUSING OPTIONS, AS WELL AS ORGANIZING IN THE COMMUNITY AROUND AFFORDABLE HOUSING POLICIES. IN 2022, WE ORGANIZED AROUND THE FOLLOWING INITIATIVES:-WE CONTINUE TO SUPPORT THE REAL ESTATE TRANSFER FEE IN HOPES OF PASSING THIS LOCAL RULE PETITION THAT CAN PROVIDE AFFORDABLE HOUSING FUNDS TO THE CITY OF SOMERVILLE-WE HAVE SUPPORTED EFFORTS WITH THE CITY'S OFFICE OF HOUSING STABILITY TO PROVIDE AFFORDABLE HOUSING UNITS FOR THE NEWLY CREATED MUNICIPAL RENTAL VOUCHER PROGRAM.-WE CONTINUE TO ADD OUR NAME TO SUPPORT TOPA (TENANT'S OPPORTUNITY AND PROTECTION ACT)-WE CREATED A RESIDENT ADVISORY COMMITTEE THAT SUPPORTS THE VOICES OF OUR RESIDENTS BY MEETING BI-MONTHLY WITH STAFF AND BOARD MEMBERS TO DISCUSS ISSUES AROUND THEIR RESIDENCY WITH SCC.-ASSISTED 20+ RESIDENTS WITH OBTAINING RENTAL ASSISTANCE

    Expenses $94,580

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

Listed in Part VII

  • Ignacio Cardona

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Jhenny Saint-Surin

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Javier Bellini

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Silvana Dinka

    CLERK

    Total calculated
    $0
    Hours/week
    2

  • Cassandra Arnaud

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ezra Haber Glen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michelle Apigian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Natacha Theodore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Marjorie Jacques Thermidor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mulugeta Zegeye

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Nancy Hogan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jarelis Fonseca

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Marcus Mello

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Erika C Johnson Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kate Fichter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gonzalo Puigbo

    CEO

    Total calculated
    $168,680
    From this org
    $164,800
    From related orgs
    $0
    Other
    $3,880
    Hours/week
    36

    Schedule J breakdown matched by us

    Base
    $164,800
    Bonus
    $0
    Other
    $0
    Deferred
    $2,535
    Nontaxable benefits
    $1,345
    Filer's total
    $168,680

  • Frannie Chan

    CONTROLLER (UNTIL 7/31/24)

    Total calculated
    $87,932
    From this org
    $85,148
    From related orgs
    $0
    Other
    $2,784
    Hours/week
    36

  • Laurel Renee Taylor

    DIRECTOR OF COMMUNITY PROGRAMS

    Total calculated
    $118,986
    From this org
    $110,210
    From related orgs
    $0
    Other
    $8,776
    Hours/week
    36

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 · 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.

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.

  • WALNUT STREET APARTMENT LLC

    LOW INCOME HOUSING · MA · income $330,231 · assets $1,910,754

    Directly controlled by SOMERVILLE COMMUNITY CORPORATION

  • 109 GILMAN STREET LLC

    LOW INCOME HOUSING · MA · income $179,932 · assets $1,290,172

    Directly controlled by SOMERVILLE COMMUNITY CORPORATION

  • 75 CROSS STREET LLC

    LOW INCOME HOUSING · MA · income $217,885 · assets $2,340,034

    Directly controlled by SOMERVILLE COMMUNITY CORPORATION

  • ST POLYCARP REDEVELOPMENT LLC

    LOW INCOME HOUSING · MA · income $0 · assets $0

    Directly controlled by SOMERVILLE COMMUNITY CORPORATION

  • SOMERVILLE HOMEOWNERSHIP LLC

    LOW INCOME HOUSING · MA · income $0 · assets $0

    Directly controlled by SOMERVILLE COMMUNITY CORPORATION

  • BOW LINDEN LLC

    LOW INCOME HOUSING · MA · income $0 · assets $0

    Directly controlled by SOMERVILLE COMMUNITY CORPORATION

  • BOW LINDEN MM LLC

    LOW INCOME HOUSING · MA · income $0 · assets $0

    Directly controlled by SOMERVILLE COMMUNITY CORPORATION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • LINDEN STREET LIMITED PARTNERSHIP

    N/A · LOW INCOME HOUSING · MA · 99.99% owned · share of income $46,195 · share of assets $6,234,625

    Directly controlled by LINDEN STREET DEVELOPMENT INC

  • 33 BOW STREET LIMITED PARTNERSHIP

    N/A · LOW INCOME HOUSING · MA · 99% owned · share of income -$333,605 · share of assets $934,862

    Directly controlled by 33 BOW STREET INC

  • SAINT POLYCARP APARTMENTS LLC

    LOW INCOME HOUSING · MA

  • SAINT POLYCARP APARTMENTS 2 LLC

    LOW INCOME HOUSING · MA

  • SAINT POLYCARPS APARTMENTS 3 LLC

    LOW INCOME HOUSING · MA

  • GLEN CONDOS LLC

    N/A · LOW INCOME HOUSING · MA · 51% owned · share of income -$20,793 · share of assets $441,076

  • UNION SQUARE APARTMENTS LLC

    LOW INCOME HOUSING · MA

Related corporations and trusts

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

  • SAINT POLYCARP APARTMENTS MM LLC

    C · LOW INCOME HOUSING · MA · 79% owned · share of income -$1,266 · share of assets $79 · controlled entity

  • LINDEN STREET DEVELOPMENT INC

    C · LOW INCOME HOUSING · MA · 79% owned · share of income -$1,146 · share of assets $789,757 · controlled entity

  • 33 BOW STREET INC

    C · LOW INCOME HOUSING · MA · 75% owned · share of income -$3,620 · controlled entity

  • SAINT POLYCARP APARTMENTS 2 MM LLC

    C · LOW INCOME HOUSING · MA · 79% owned · share of income -$1,259 · share of assets $79 · controlled entity

  • SAINT POLYCARP APARTMENTS 3 MM LLC

    C · LOW INCOME HOUSING · MA · 100% owned · share of income -$1,601 · share of assets $100 · controlled entity

  • UNION SQUARE APARTMENTS MM LLC

    C · LOW INCOME HOUSING · MA · 100% owned · share of income -$1,620 · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202433179349305658

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