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← HOUSING SOLUTIONS FOR SOUTHEASTERN MASSACHUSETTS INC

Form 990 for tax year 2022

Filed by HOUSING SOLUTIONS FOR SOUTHEASTERN MASSACHUSETTS INC.

Totals

Total revenue
$617,415
Total expenses
$276,950
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$233,446
Investment income
$376,843
Other revenue
$7,126
Total assets, end of year
$7,821,692
Total liabilities, end of year
$376,260
Net assets or fund balances, end of year
$7,445,432
Program services expenses (Part IX)
$276,950
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$276,950

Program services were 100.0% 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.

  • 2a · Program service revenue: PROPERTY MANAGEMENT FE

    total $129,850 · related or exempt $129,850

  • 2b · Program service revenue: RENTAL REVENUE

    total $56,800 · related or exempt $56,800

  • 2c · Program service revenue: INTEREST INCOME

    total $46,796 · excluded $46,796

  • 7a · Gross sales of assets other than inventory

    other assets $407,500

  • 7b · Less cost or other basis and sales expenses

    other assets $30,657

  • 7c · Gain or loss

    other assets $376,843

  • 7d · Net gain or loss

    total $376,843 · related or exempt $376,843

  • 11a · Other revenue: MISCELLANEOUS

    total $7,126 · related or exempt $7,126

  • 11e · Other revenue, total

    $7,126

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $1,777 · program services $1,777

  • 13 · Office expenses

    total $2,246 · program services $2,246

  • 16 · Occupancy

    total $79,465 · program services $79,465

  • 20 · Interest

    total $20,290 · program services $20,290

  • 22 · Depreciation, depletion and amortization

    total $95,341 · program services $95,341

  • 23 · Insurance

    total $8,873 · program services $8,873

  • 24a · Other expenses: MISCELLANEOUS

    total $68,958 · program services $68,958

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $58,838 · end of year $857,831

  • 4 · Accounts receivable

    beginning of year $178,237 · end of year $99,212

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,462 · end of year $7,235

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

    $1,899,244

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

    $1,487,584

  • 10c · Land, buildings and equipment, net

    beginning of year $518,840 · end of year $411,660

  • 12 · Investments: other securities

    beginning of year $3,167,192 · end of year $3,010,229

  • 15 · Other assets

    beginning of year $3,529,159 · end of year $3,435,525

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,341 · end of year $6,463

  • 23 · Secured mortgages and notes payable

    beginning of year $578,458 · end of year $369,797

  • 27 · Net assets without donor restrictions

    beginning of year $6,861,929 · end of year $7,445,432

Mission and programs · 2022

Mission

TO PROMOTE, ORGANIZE AND MANAGE PROGRAMS THAT PROVIDE AFFORDABLE HOUSING IN ORDER TO IMPROVE THE QUALITY OF LIFE IN THE SOUTHEASTERN MASSACHUSETTS AREA.

Activities or mission (Part I)

TO ENHANCE THE QUALITY OF LIFE FOR LOW AND MODERATE INCOME PEOPLE BY PROVIDING DECENT, SAFE AND AFFORDABLE HOUSING. HOUSING SOLUTIONS FOR SOUTHEASTERN MASSACHUSETTS REALIZES ITS MISSION BY: ASSISTING FAMILIES IN FINDING APARTMENTS THEY CAN AFFORD; SUPPORTING FAMILIES AS THEY MOVE FORWARD TOWARD ECONOMIC AND SOCIAL INDEPENDENCE; AIDING INDIVIDUALS IN RECONNECTING WITH THEIR COMMUNITIES; OFFERING RELATED HOUSING AND HOMEOWNERSHIP EDUCATIONAL PROGRAMS; HELPING CITIES AND TOWNS BUILD OR REHABILITATE HOUSING FOR THE ELDERLY; ACTING AS A CONSULTANT OR PARTNER WITH DEVELOPERS TO FACILITATE BUILDING AFFORDABLE FAMILY HOUSING; AND PROVIDING EXPERTISE TO CITIES AND TOWNS IN RENOVATING ROADS AND STREETS.

  • ASSET MANAGEMENT IS THE MANAGEMENT OF PROPERTIES HSSM HAS DEVELOPED IN THE PAST. THESE EFFORTS ARE AIMED AT ENSURING THAT THE PROPERTIES MEET THE NEEDS OF THEIR LOW TO MODERATE INCOME RESIDENTS AS WELL AS MAINTAINING THE FINANCIAL VIABILITY OF THESE PROPERTIES IN THE FUTURE.

    Expenses $276,950 · Revenue $570,619

As filed on the 2022 return.

Listed in Part VII

  • Michael McGowan

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Beverly Somerville

    PRESIDENT/CHAIR

    Total calculated
    $0
    Hours/week
    5

  • David Kilnapp

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Patrick Neenan

    VICE TREASUER

    Total calculated
    $0
    Hours/week
    5

  • Jeff Graeber

    CLERK

    Total calculated
    $0
    Hours/week
    5

  • Darryl Mayers

    ASSISTANT CLERK

    Total calculated
    $0
    Hours/week
    5

  • Steven Borgerson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey Charnel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Carol Delorey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dominga Maldonado

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michael Healy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Goretti Joaquim

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Thomas King

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Antoinette Pabon Green

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Richard Peterson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Erin Kelley-Green

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Greidy Terrero

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lashaunda Watson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert Corley

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $323,041
    From this org
    $0
    From related orgs
    $282,943
    Other
    $40,098
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $282,943 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $14,440 related
    Nontaxable benefits
    $0 + $25,658 related
    Filer's total
    $0 + $323,041 related

  • Maureen Petersen

    CHIEF FINANCIAL OFFICER

    Total calculated
    $203,791
    From this org
    $0
    From related orgs
    $170,194
    Other
    $33,597
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $170,194 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,804 related
    Nontaxable benefits
    $0 + $24,793 related
    Filer's total
    $0 + $203,791 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

None.

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.

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.

Related partnerships

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

  • CRANBERRY MANOR LIMITED PARTNERSHIP

    RENTAL · LOW INCOME HOUSING · MA · 99% owned · share of income $41,181 · share of assets $956,560 · general or managing partner

    Directly controlled by CRANBERRY MANOR CORPORATION

  • CARPENTERS GLEN LIMITED PARTNERSHIP

    RENTAL · LOW INCOME HOUSING · MA · 99% owned · share of income $59,069 · share of assets $1,372,130 · general or managing partner

    Directly controlled by CARPENTERS GLEN CORPORATION

  • COPLEY GARDENS LIMITED PARTNERSHIP

    RENTAL · LOW INCOME HOUSING · MA · 99% owned · share of income $144,188 · share of assets $5,655,862 · general or managing partner

    Directly controlled by COPLEY GARDENS CORPORATION

  • CRANCARP LIMITED PARTNERSHIP

    LOW INCOME HOUSING · MA · general or managing partner

  • NHS LINCOLN SCHOOL LLC

    RENTAL · LOW INCOME HOUSING · MA · 80% owned

Related corporations and trusts

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

  • CRANBERRY MANOR CORPORATION

    C · GENERAL PARTNER OF A LOW INCOME HOUSING PROJECT LIMITED PARTNERSHIP · MA · 100% owned · share of income -$1,331 · share of assets -$134,533

    Directly controlled by HOUSING SOLUTIONS FOR SOUTHEASTERN MASSACHUSETTS

  • CARPENTERS GLEN CORPORATION

    C · GENERAL PARTNER OF A LOW INCOME HOUSING PROJECT LIMITED PARTNERSHIP · MA · 100% owned · share of income -$802 · share of assets -$7,902

    Directly controlled by HOUSING SOLUTIONS FOR SOUTHEASTERN MASSACHUSETTS

  • COPLEY GARDENS CORPORATION

    C · GENERAL PARTNER OF A LOW INCOME HOUSING PROJECT LIMITED PARTNERSHIP · MA · 100% owned · share of income $986 · share of assets $149,101

    Directly controlled by HOUSING SOLUTIONS FOR SOUTHEASTERN MASSACHUSETTS

  • CRANCARP GP LLC

    C · GENERAL PARTNER OF A LOW INCOME HOUSING PROJECT LIMITED PARTNERSHIP · MA · 51% owned · share of income -$1,331 · share of assets -$138

    Directly controlled by HOUSING SOLUTIONS FOR SOUTHEASTERN MASSACHUSETTS

Provenance

Return type
form_990
Tax year
2022
Filed
1 May 2024
IRS schema version
2022v5.0
Source object
202421249349301302

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