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Nonprofiteer
← CAMBRIDGE AFFORDABLE HOUSING CORPORATION

Form 990 for tax year 2022

Filed by CAMBRIDGE AFFORDABLE HOUSING CORPORATION.

Totals

Total revenue
$10,017,577
Total expenses
$11,729,737
Contributions and grants received
$256,975
Grants paid
$256,975
Program service revenue
$8,164,686
Investment income
$2,921
Other revenue
$1,592,995
Total assets, end of year
$123,208,985
Total liabilities, end of year
$124,670,932
Net assets or fund balances, end of year
-$1,461,947
Program services expenses (Part IX)
$10,329,620
Management and general expenses
$1,400,117
Fundraising expenses
$0
Program service expenses (Part III)
$10,329,620

Program services were 88.1% 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.

  • 1f · All other contributions, gifts and grants

    $256,975

  • 2a · Program service revenue: RENTAL INCOME

    total $6,741,899 · related or exempt $6,741,899

  • 2b · Program service revenue: DEVELOPMENT FEE

    total $1,422,787 · related or exempt $1,422,787

  • 3 · Investment income

    total $2,921 · excluded $2,921

  • 11a · Other revenue: GAIN ON RESTRUCTURING OF LEASE &

    total $918,374 · excluded $918,374

  • 11b · Other revenue: OTHER INCOME

    total $674,621 · excluded $674,621

  • 11e · Other revenue, total

    $1,592,995

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $256,975 · program services $256,975

  • 7 · Other salaries and wages

    total $1,122,480 · program services $641,068 · management and general $481,412

  • 8 · Pension plan contributions

    total $210,908 · management and general $210,908

  • 9 · Other employee benefits

    total $322,846 · program services $244,023 · management and general $78,823

  • 11a · Fees: management

    total $387,923 · management and general $387,923

  • 11b · Fees: legal

    total $1,533 · management and general $1,533

  • 11c · Fees: accounting

    total $74,048 · management and general $74,048

  • 13 · Office expenses

    total $55,715 · management and general $55,715

  • 14 · Information technology

    total $20,754 · management and general $20,754

  • 16 · Occupancy

    total $2,073,265 · program services $2,073,265

  • 17 · Travel

    total $6,755 · management and general $6,755

  • 20 · Interest

    total $2,841,870 · program services $2,841,870

  • 22 · Depreciation, depletion and amortization

    total $2,147,947 · program services $2,147,947

  • 23 · Insurance

    total $423,661 · program services $423,661

  • 24a · Other expenses: DEVELOPMENT FEE

    total $1,422,787 · program services $1,422,787

  • 24b · Other expenses: CONDO ASSESSMENT FEES

    total $131,804 · program services $131,804

  • 24c · Other expenses: TENANT SERVICES

    total $89,306 · program services $89,306

  • 24d · Other expenses: ADMINISTRATIVE EXPENSES

    total $82,246 · management and general $82,246

  • 24e · All other expenses

    total $56,914 · program services $56,914

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $17,235,751 · end of year $19,589,830

  • 4 · Accounts receivable

    beginning of year $193,016 · end of year $216,100

  • 9 · Prepaid expenses and deferred charges

    beginning of year $442,601 · end of year $289,714

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

    $37,831,122

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

    $8,627,656

  • 10c · Land, buildings and equipment, net

    beginning of year $65,217,939 · end of year $29,203,466

  • 15 · Other assets

    beginning of year $45,592,747 · end of year $73,909,875

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,176,526 · end of year $1,435,498

  • 19 · Deferred revenue

    beginning of year $19,322 · end of year $17,992

  • 23 · Secured mortgages and notes payable

    beginning of year $103,387,071 · end of year $97,172,889

  • 25 · Other liabilities

    beginning of year $21,848,922 · end of year $26,044,553

  • 27 · Net assets without donor restrictions

    beginning of year $250,213 · end of year -$1,461,947

Mission and programs · 2022

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE MANAGEMENT AND SUPPORTING SERVICES FOR RELATED ORGANIZATIONS WHICH OWN AND OPERATE LOW-INCOME HOUSING UNITS FOR QUALIFIED INDIVIDUALS IN THE CITY OF CAMBRIDGE, MA.

Activities or mission (Part I)

MANAGEMENT & SERVICES FOR RELATED ORGANIZATIONS WHICH OWN & OPERATE LOW INCOME HOUSING.

  • AFFORDABLE HOUSING - MANAGEMENT AND SUPPORTING SERVICES FOR RELATED ORGANIZATIONS WHICH OWN AND OPERATE HOUSING FOR LOW AND MODERATE INCOME PERSONS.

    Expenses $10,329,620 · Grants $256,975 · Revenue $8,164,686

As filed on the 2022 return.

Listed in Part VII

  • Michael J Johnston

    CLERK

    Total calculated
    $323,013
    From this org
    $0
    From related orgs
    $249,651
    Other
    $73,362
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $247,435 related
    Bonus
    $0 + $2,216 related
    Other
    $0
    Deferred
    $0 + $47,958 related
    Nontaxable benefits
    $0 + $25,404 related
    Filer's total
    $0 + $323,013 related

  • Brenda Snowden Downing

    DEPUTY EXECUTIVE DIRECTOR

    Total calculated
    $298,463
    From this org
    $0
    From related orgs
    $230,304
    Other
    $68,159
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,004 related
    Bonus
    $0 + $12,300 related
    Other
    $0
    Deferred
    $0 + $42,752 related
    Nontaxable benefits
    $0 + $25,407 related
    Filer's total
    $0 + $298,463 related

  • Margaret Donnelly-Moran

    DIRECTOR OF PLANNING & DEV

    Total calculated
    $296,654
    From this org
    $0
    From related orgs
    $251,297
    Other
    $45,357
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $239,297 related
    Bonus
    $0 + $12,000 related
    Other
    $0
    Deferred
    $0 + $45,279 related
    Nontaxable benefits
    $0 + $78 related
    Filer's total
    $0 + $296,654 related

  • John Filip

    CHIEF FINANCIAL OFFICER

    Total calculated
    $292,890
    From this org
    $0
    From related orgs
    $238,993
    Other
    $53,897
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $226,493 related
    Bonus
    $0 + $12,500 related
    Other
    $0
    Deferred
    $0 + $43,531 related
    Nontaxable benefits
    $0 + $10,366 related
    Filer's total
    $0 + $292,890 related

  • Kevin J Braga

    DIRECTOR OF OPERATIONS

    Total calculated
    $269,656
    From this org
    $0
    From related orgs
    $204,748
    Other
    $64,908
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $192,498 related
    Bonus
    $0 + $12,250 related
    Other
    $0
    Deferred
    $0 + $37,521 related
    Nontaxable benefits
    $0 + $27,387 related
    Filer's total
    $0 + $269,656 related

  • Hannah M Bolcome

    DIRECTOR OF LEASED HOUSING (UNTIL 2/22)

    Total calculated
    $63,625
    From this org
    $0
    From related orgs
    $63,625
    Other
    $0
    Hours/week
    1 + 40 related

  • Elaine Derosa

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Louis Bacci III

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Gerald J Clark

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Victoria Bergland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Susan T Connelly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 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

  • 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

The filer's explanations (Part III)

PART I, LINE 3
THE BOARD OF CAMBRIDGE HOUSING AUTHORITY (CHA), A RELATED ORGANIZATION, APPOINTS A CLERK WHO USES A DILIGENT REVIEW PROCESS TO DETERMINE COMPENSATION OF OFFICERS AND TOP MANAGEMENT. THE COMPENSATION PROCESS INCLUDES A REVIEW OF MARKET RATES AND PASSED AFTER A REVIEW BY THE BOARD. THE COMPENSATION CONTRACT IS KEPT CURRENT BY THE ORGANIZATION'S HUMAN RESOURCES DEPARTMENT. COMPENSATION IS ONLY RECEIVED BY CHA ACTIVITIES - NO COMPENSATION IS PAID DIRECTLY FROM CAMBRIDGE AFFORDABLE HOUSING CORPORATION.

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

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.

  • JEFFERSON PARK APARTMENTS MANAGER LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • MILLERS RIVER HOLDING LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • NEW TEMPLE PLACE MANAGER LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • CAHC YWCA LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • CORCORAN PARK HOLDING LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • BURNS APARTMENTS HOLDING LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • ROOSEVELT TOWERS HOLDING LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • JACKSON PLACE HOLDING LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • TRUMAN APARTMENTS MANAGER LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • ST PAUL'S RESIDENCES MANAGER LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • PUTNAM SCHOOL APARTMENTS MANAGER LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • ST PAUL'S RESIDENCES LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • ROOSEVELT TOWERS MANAGER LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • PUTNAM SCHOOL MANAGER LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $0

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

Related corporations and trusts

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

  • CAHC PORTER ROAD MANAGER LLC

    C · AFFORDABLE HOUSING · MA · 55% owned

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • ROOSEVELT TOWERS MANAGER LLC

    C · AFFORDABLE HOUSING · MA · 100% owned

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • PUTNAM SCHOOL MANAGER LLC

    C · AFFORDABLE HOUSING · MA · 100% owned

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

  • TRUMAN APARTMENTS MANAGER LLC

    C · AFFORDABLE HOUSING · MA · 55% owned

    Directly controlled by CAMBRIDGE AFFORDABLE HOUSING CORPORATION

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202303189349316415

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