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Nonprofiteer
← DOVER CLUB OF MIT INC

Form 990 for tax year 2023

Filed by DOVER CLUB OF MIT INC.

Totals

Total revenue
$162,032
Total expenses
$194,143
Contributions and grants received
$13,225
Grants paid
$0
Program service revenue
$145,000
Investment income
$607
Other revenue
$3,200
Total assets, end of year
$1,005,759
Total liabilities, end of year
$790,467
Net assets or fund balances, end of year
$215,292
Program services expenses (Part IX)
$190,274
Management and general expenses
$3,869
Fundraising expenses
$0
Program service expenses (Part III)
$190,274

Program services were 98.0% 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

    $13,225

  • 2a · Program service revenue: RENT INCOME

    total $145,000 · related or exempt $145,000

  • 3 · Investment income

    total $607 · excluded $607

  • 11a · Other revenue: RECEIVED FROM MA LOST

    total $3,200 · related or exempt $3,200

  • 11e · Other revenue, total

    $3,200

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $11,367 · program services $11,367

  • 11c · Fees: accounting

    total $3,400 · management and general $3,400

  • 14 · Information technology

    total $1,700 · program services $1,700

  • 20 · Interest

    total $24,081 · program services $24,081

  • 22 · Depreciation, depletion and amortization

    total $48,950 · program services $48,950

  • 23 · Insurance

    total $49,066 · program services $49,066

  • 24a · Other expenses: TAX:REAL ESTATE

    total $29,479 · program services $29,479

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $15,368 · program services $15,368

  • 24c · Other expenses: FIRE ALARM

    total $5,689 · program services $5,689

  • 24d · Other expenses: ALUMNI RELATIONS

    total $4,574 · program services $4,574

  • 24e · All other expenses

    total $469 · management and general $469

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $79,723 · end of year $83,715

  • 2 · Savings and temporary cash investments

    beginning of year $77,089 · end of year $24,368

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

    $1,399,337

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

    $501,661

  • 10c · Land, buildings and equipment, net

    beginning of year $721,815 · end of year $897,676

  • 15 · Other assets

    beginning of year $198,400 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,856 · end of year $1,221

  • 25 · Other liabilities

    beginning of year $810,768 · end of year $789,246

  • 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 $247,403 · end of year $215,292

Mission and programs · 2023

Mission

THE ORGANIZATION ASSISTS UNDERGRADUATE STUDENTS AT MASSACHUSETTS INSTITUTE OF TECHNOLOGY BY PROVIDING THEM WITH HOUSING AT REASONABLE RATES FOR RENT, INTEREST FREE LOANS AND OTHER EDUCATIONAL FINANCIAL ASSISTANCE. THE ORGANIZATION ALSO PRODUCES AN ALUMNI NEWSLETTER AND ORGANIZES REUNIONS.

Activities or mission (Part I)

COLLEGE FRATERNITY ALUMNI CORPORATION

  • PROVIDE HOUSING TO UNDERGRADUATE STUDENTS AT REASONABLE RATES OF RENT SO STUDENTS CAN FOCUS ON ACADEMICS. ALSO ORGANIZE REUNIONS AND PRODUCE AN ALUMNI NEWSLETTER.

    Expenses $190,274

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

Listed in Part VII

  • Sotirios Karanikas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alex Jaffe

    ASST CLERK

    Total calculated
    $0
    Hours/week
    2

  • Michael Chen

    PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Sameer Deshpande

    CLERK

    Total calculated
    $0
    Hours/week
    3

  • Jerome Dausman

    TREASURER

    Total calculated
    $0
    Hours/week
    3

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

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.

  • ZBT INC

    501(C)(7) · FRATERNAL ORGANIZATION · MA

Provenance

Return type
form_990
Tax year
2023
Filed
26 February 2025
IRS schema version
2023v6.0
Source object
202500629349301320

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