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Nonprofiteer
← LEWIS MALL APARTMENTS INCORPORATED

Form 990 for tax year 2024

Filed by LEWIS MALL APARTMENTS INCORPORATED.

Totals

Total revenue
$717,262
Total expenses
$719,622
Contributions and grants received
$900
Grants paid
$0
Program service revenue
$713,775
Investment income
$2,587
Other revenue
$0
Total assets, end of year
$1,687,607
Total liabilities, end of year
$3,813,975
Net assets or fund balances, end of year
-$2,126,368
Program services expenses (Part IX)
$516,466
Management and general expenses
$203,156
Fundraising expenses
$0
Program service expenses (Part III)
$516,466

Program services were 71.8% 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

    $900

  • 2a · Program service revenue: NET RESIDENTIAL RENTS

    total $673,234 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: TENANT CHARGES

    total $40,541 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,587 · unrelated business $0 · excluded $2,587

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $261,411 · program services $106,549 · management and general $154,862 · fundraising $0

  • 11b · Fees: legal

    total $300 · program services $0 · management and general $300 · fundraising $0

  • 11c · Fees: accounting

    total $22,219 · program services $0 · management and general $22,219 · fundraising $0

  • 13 · Office expenses

    total $22,134 · program services $0 · management and general $22,134 · fundraising $0

  • 16 · Occupancy

    total $199,317 · program services $199,317 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $138,583 · program services $138,583 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $58,932 · program services $58,932 · management and general $0 · fundraising $0

  • 24a · Other expenses: MISCELLANEOUS ADMIN EXPENSES

    total $1,179 · program services $0 · management and general $1,179 · fundraising $0

  • 24b · Other expenses: BUILDING SUPPLIES

    total $9,944 · program services $9,944 · management and general $0 · fundraising $0

  • 24c · Other expenses: CONSULTING

    total $2,440 · program services $0 · management and general $2,440 · fundraising $0

  • 24d · Other expenses: OTHER ELDERLY CARE EXPENSES

    total $3,141 · program services $3,141 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $22 · program services $0 · management and general $22 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,816 · end of year $10,126

  • 2 · Savings and temporary cash investments

    beginning of year $295,881 · end of year $334,941

  • 4 · Accounts receivable

    beginning of year $5,959 · end of year $55,321

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,751 · end of year $13,821

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

    $4,374,571

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

    $3,101,173

  • 10c · Land, buildings and equipment, net

    beginning of year $1,359,436 · end of year $1,273,398

  • 17 · Accounts payable and accrued expenses

    beginning of year $51,878 · end of year $67,834

  • 19 · Deferred revenue

    beginning of year $4,438 · end of year $4,922

  • 21 · Escrow or custodial account liability

    beginning of year $15,835 · end of year $16,519

  • 23 · Secured mortgages and notes payable

    beginning of year $3,724,700 · end of year $3,724,700

  • 27 · Net assets without donor restrictions

    beginning of year -$2,124,008 · end of year -$2,126,368

Mission and programs · 2024

Mission

TO PROVIDE AFFORDABLE HOUSING FACILITIES AND RELATED SUPPORT SERVICES TO LOW INCOME ELDERLY AND DISABLED INDIVIDUALS

  • OPERATING A 47 UNIT AFFORDABLE HOUSING FACILITY TO PROVIDE HOUSING AND SUPPORT SERVICES TO AT-RISK ELDERLY AND DISABLED IN THE EAST BOSTON, MASSACHUSETTS COMMUNITY.

    Expenses $516,466 · Revenue $714,675

As filed on the 2024 return.

Listed in Part VII

  • Gregory Wilmot

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Salvatore J Colombo

    TREASURER

    Total calculated
    $372,991
    From this org
    $0
    From related orgs
    $352,450
    Other
    $20,541
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $287,450 related
    Bonus
    $0 + $65,000 related
    Other
    $0
    Deferred
    $0 + $14,098 related
    Nontaxable benefits
    $0 + $6,443 related
    Filer's total
    $0 + $372,991 related

  • Ruth Capone

    CLERK

    Total calculated
    $0
    Hours/week
    1

  • Jean Staropoli

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stanley Buonagurio

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Pasquale Cordisco

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Calay Ip

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rita Sorrento

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Albert J Caldarelli

    FORMER PRESIDENT/EBCDC, INC.

    Total calculated
    $529,751
    From this org
    $0
    From related orgs
    $526,198
    Other
    $3,553
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $39,268 related
    Bonus
    $0 + $61,930 related
    Other
    $0 + $425,000 related
    Deferred
    $0 + $1,528 related
    Nontaxable benefits
    $0 + $2,025 related
    Filer's total
    $0 + $529,751 related

  • Albert J Festa

    COO/EBCDC, INC.

    Total calculated
    $324,351
    From this org
    $0
    From related orgs
    $306,953
    Other
    $17,398
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $241,953 related
    Bonus
    $0 + $65,000 related
    Other
    $0
    Deferred
    $0 + $12,278 related
    Nontaxable benefits
    $0 + $5,120 related
    Filer's total
    $0 + $324,351 related

  • Cynthia A Fronduto Lopez

    CFO/EBCDC, INC.

    Total calculated
    $288,728
    From this org
    $0
    From related orgs
    $254,349
    Other
    $34,379
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $209,349 related
    Bonus
    $0 + $45,000 related
    Other
    $0
    Deferred
    $0 + $10,174 related
    Nontaxable benefits
    $0 + $24,205 related
    Filer's total
    $0 + $288,728 related

  • Tanya Hahnel

    DIRECTOR OF REAL ESTATE/EBCDC, INC.

    Total calculated
    $187,769
    From this org
    $0
    From related orgs
    $168,077
    Other
    $19,692
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $150,192 related
    Bonus
    $0 + $17,885 related
    Other
    $0
    Deferred
    $0 + $6,723 related
    Nontaxable benefits
    $0 + $12,969 related
    Filer's total
    $0 + $187,769 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

  • 4a · Severance or change-of-control payment

Answered no

  • 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)

Pt I Line 4a
ALBERT F. CALDARELLI RECEIVED A SEVERANCE PAYMENT (DEFERRED COMPENSATION) OF $425,000.

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.

  • EBCDC Inc

    3 · Provide services related to affordable housing development · MA

    Directly controlled by NA

  • EBNHC Corp

    3 · Provide services to the residents of Lewis Mall · MA

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
21 May 2026
IRS schema version
2024v5.2
Source object
202601419349300030

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