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Nonprofiteer
← KINGSTON PROPERTIES I NFP

Form 990 for tax year 2023

Filed by KINGSTON PROPERTIES I NFP.

Totals

Total revenue
$58,256
Total expenses
$15,963
Contributions and grants received
$0
Grants paid
$10,000
Program service revenue
$7,506
Investment income
$50,750
Other revenue
$0
Total assets, end of year
$808,645
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$808,645
Program services expenses (Part IX)
$13,929
Management and general expenses
$2,034
Fundraising expenses
$0
Program service expenses (Part III)
$13,929

Program services were 87.3% 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.

  • 2f · All other program service revenue

    total $7,506 · related or exempt $7,506

  • 3 · Investment income

    total $50,750 · excluded $50,750

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,000 · program services $10,000

  • 11c · Fees: accounting

    total $1,815 · management and general $1,815

  • 11g · Fees: other

    total $219 · management and general $219

  • 24a · Other expenses: PHONE/INTERNET/POSTAGE

    total $3,929 · program services $3,929

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,352 · end of year $48,645

  • 7 · Other notes and loans receivable

    beginning of year $760,000 · end of year $760,000

  • 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 $766,352 · end of year $808,645

Mission and programs · 2023

Mission

TO ACQUIRE, REHABILITATE, AND PROPERLY MAINTAIN AFFORDABLE HOUSING FOR LOW TO MODERATE INCOME HOUSEHOLDS.

Activities or mission (Part I)

KINGSTON PROPERTIES I, NFP IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND/OR EDUCATIONAL PURPOSES, INCLUDING THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS WHICH QUALIFY AS EXEMPT ORGANIZATIONS. IN FURTHERANCE OF THIS HUMANITARIAN MISSION, KINGSTON PROPERTIES I, NFP WILL ENGAGE IN THE ACQUISITION, REHABILITATION, AND OPERATION OF AFFORDABLE LOW INCOME HOUSING. KINGSTON PROPERTIES I, NFP WILL COORDINATE SUPPORTIVE COMMUNITY SERVICES AND COORDINATE SERVICE COORDINATOR PLACEMENT AS NECESSARY IN AN EFFORT TO PROVIDE AFFORDABLE RESIDENTIAL FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THE PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS OF LOW INCOME FAMILIES, AND TO PROMOTE THEIR HEALTH, SECURITY, AND HAPPINESS.

  • PRESERVE AFFORDABLE HOUSING THAT IS AT RISK OF BEING ELIMINATED FROM THE NATIONAL AFFORDABLE HOUSING INVENTORY EITHER THROUGH CONVERSION TO MARKET RATE OR BY PHYSICAL DETERIORATION IN ADDITION TO THE MAKING OF GRANTS AND DISTRIBUTIONS FOR THE BENEFIT AND PURPOSES OF ORGANIZATIONS WHICH QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986.

    Expenses $13,929 · Grants $10,000 · Revenue $7,506

As filed on the 2023 return.

Listed in Part VII

  • Yaakov Litvin

    PRESIDENT/TREASURER

    Total calculated
    $0
    Hours/week
    4.5

  • Dovid Tiechtel

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Yosef Moscowitz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202413209349316616

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