Form 990 for tax year 2022

Filed by HOUSING CORPORATION OF ARLINGTON.

What the amendment changed

Compared with the return it replaced , filed 15 November 2023. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue: $3,008,942 changed to $5,055,753
Total expenses: $1,902,523 changed to $5,625,008
Contributions and grants received: $1,576,607 changed to $3,765,246
Program service revenue: $1,416,273 changed to $1,113,221
Investment income: $1 changed to $4,331
Other revenue: $16,061 changed to $172,955
Total assets, end of year: $50,946,980 changed to $21,110,462
Total liabilities, end of year: $49,418,555 changed to $22,220,285
Net assets or fund balances, end of year: $1,528,425 changed to -$1,109,823
Program services expenses: $1,603,673 changed to $5,416,579
Management and general expenses: $267,858 changed to $85,264
Fundraising expenses: $30,992 changed to $123,165
Program service expenses (Part III): $1,603,673 changed to $5,416,579

Listed only on the earlier return

Erica SchwartzERICA SCHWARTZ

Listed only on the later return

Erica SchwarzERICA SCHWARZ

Totals

Total revenue: $5,055,753
Total expenses: $5,625,008
Contributions and grants received: $3,765,246
Grants paid: $81,502
Program service revenue: $1,113,221
Investment income: $4,331
Other revenue: $172,955
Total assets, end of year: $21,110,462
Total liabilities, end of year: $22,220,285
Net assets or fund balances, end of year: -$1,109,823
Program services expenses (Part IX): $5,416,579
Management and general expenses: $85,264
Fundraising expenses: $123,165
Program service expenses (Part III): $5,416,579

Program services were 96.3% 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.

1e · Government grants (contributions)

$3,187,683
1f · All other contributions, gifts and grants

$577,563
2a · Program service revenue: RENTAL INCOME

total $1,080,623 · related or exempt $1,080,623
2b · Program service revenue: MANAGEMENT FEES

total $32,598 · related or exempt $32,598
3 · Investment income

total $4,331 · excluded $4,331
11a · Other revenue: OTHER INCOME

total $172,955 · related or exempt $172,955
11e · Other revenue, total

$172,955

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $81,502 · program services $81,502
5 · Compensation of officers, directors and key employees

total $131,614 · program services $119,769 · management and general $5,264 · fundraising $6,581
7 · Other salaries and wages

total $196,068 · program services $127,778 · management and general $27,517 · fundraising $40,773
9 · Other employee benefits

total $37,507 · program services $24,199 · management and general $5,358 · fundraising $7,950
10 · Payroll taxes

total $26,998 · program services $24,568 · management and general $1,080 · fundraising $1,350
11a · Fees: management

total $58,881 · program services $58,881
11b · Fees: legal

total $84,503 · program services $84,503
11c · Fees: accounting

total $90,720 · program services $68,543 · management and general $9,072 · fundraising $13,105
11g · Fees: other

total $345,395 · program services $298,237 · management and general $19,291 · fundraising $27,867
13 · Office expenses

total $30,890 · program services $14,164 · management and general $6,843 · fundraising $9,883
16 · Occupancy

total $665,236 · program services $644,285 · management and general $8,571 · fundraising $12,380
20 · Interest

total $7,862 · program services $7,862
22 · Depreciation, depletion and amortization

total $601,048 · program services $601,048
23 · Insurance

total $95,831 · program services $95,291 · management and general $221 · fundraising $319
24a · Other expenses: LOAN LOSS PROVISIONS

total $3,108,167 · program services $3,108,167
24b · Other expenses: MISCELLANEOUS

total $62,786 · program services $57,782 · management and general $2,047 · fundraising $2,957

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $331,044 · end of year $706,194
4 · Accounts receivable

beginning of year $14,570 · end of year $10,349
9 · Prepaid expenses and deferred charges

beginning of year $23,209 · end of year $39,461
10a · Land, buildings and equipment: cost or other basis

$21,817,782
10b · Land, buildings and equipment: accumulated depreciation

$6,870,871
10c · Land, buildings and equipment, net

beginning of year $15,493,705 · end of year $14,946,911
15 · Other assets

beginning of year $1,719,186 · end of year $5,407,547
17 · Accounts payable and accrued expenses

beginning of year $348,288 · end of year $508,659
21 · Escrow or custodial account liability

beginning of year $57,887 · end of year $57,887
23 · Secured mortgages and notes payable

beginning of year $16,526,107 · end of year $20,553,739
25 · Other liabilities

beginning of year $1,190,000 · end of year $1,100,000
27 · Net assets without donor restrictions

beginning of year -$540,568 · end of year -$1,109,823

Mission and programs · 2022

Mission

TO ACQUIRE, DEVELOP, IMPROVE, SELL, MANAGE (MORTGAGE, REMORTGAGE) AND LEASE AFFORDABLE HOUSING IN THE TOWN OF ARLINGTON FOR LOW AND MODERATE INCOME FAMILIES AND TO PROVIDE OTHER SOCIAL AND CIVIC SERVICES TO BENEFIT LOW AND MODERATE INCOME MEMBERS OF SOCIETY.

Activities or mission (Part I)

THE HOUSING CORPORATION OF ARLINGTON PROVIDES AND ADVOCATES FOR DECENT, AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME FAMILIES AND INDIVIDUALS IN ARLINGTON AND SURROUNDING COMMUNITIES, WHILE PROMOTING SOCIAL AND ECONOMIC DIVERSITY.

THE AFFORDABLE HOUSING PROGRAM PROVIDED APARTMENTS AT RENTAL LEVELS BELOW MARKET RATES. THE PROGRAM WAS PROVIDED THROUGH 61 RENTAL UNITS OWNED BY HCA. THIS PROGRAM INCLUDES BOTH DIRECT RENTAL PROPERTY COSTS IN ADDITION TO STAFF TIME AND BACK OFFICE COSTS OF HOUSING CORPORATION OF ARLINGTON THAT WERE ATRRIBUTABLE TO THE OVERALL AFFORDABLE HOUSING PROGRAM.

Expenses $4,666,937 · Revenue $1,286,176
IN 2022, THE HOMELESS PREVENTION PROGRAM PROVIDED GRANTS TO HOUSEHOLDS ON THE VERGE OF BEOMING HOMELESS. THE MAJORITY OF THESE GRANTS WERE USED FOR MOVING EXPENSES, RENT, AND SECURITY DEPOSITS. THE PROGRAM ALSO ASSISTS INDIVIDUALS IN FINDING AFFORDABLE UNITS IN ARLINGTON, ESPECIALLY ADVOCATING FOR TENANTS WITH THE ARLINGTON HOUSING AUTHORITY.

Expenses $749,642 · Grants $81,502

As filed on the 2022 return.

Listed in Part VII

Thomas NeeTHOMAS NEE

PRESIDENT

Total calculated

$0

Hours/week

3 + 1 related
Jonathan WallachJONATHAN WALLACH

TREASURER

Total calculated

$0

Hours/week

3 + 1 related
Deirdre WestcottDEIRDRE WESTCOTT

CLERK

Total calculated

$0

Hours/week

3
Janet BlodgettJANET BLODGETT

DIRECTOR

Total calculated

$0

Hours/week

2
John CooperJOHN COOPER

DIRECTOR

Total calculated

$0

Hours/week

2
Mareshia DonaldMARESHIA DONALD

DIRECTOR

Total calculated

$0

Hours/week

2
Jillian FlynnJILLIAN FLYNN

DIRECTOR

Total calculated

$0

Hours/week

2
Abhidnya KurveABHIDNYA KURVE

DIRECTOR

Total calculated

$0

Hours/week

2
Neal MongoldNEAL MONGOLD

DIRECTOR

Total calculated

$0

Hours/week

2 + 1 related
Mary-Anne MorrisonMARY-ANNE MORRISON

DIRECTOR

Total calculated

$0

Hours/week

2
Matthew PierceMATTHEW PIERCE

DIRECTOR

Total calculated

$0

Hours/week

2
Francis TadleyFRANCIS TADLEY

DIRECTOR

Total calculated

$0

Hours/week

2
Manuel BolivarMANUEL BOLIVAR

DIRECTOR

Total calculated

$0

Hours/week

2
Jeffrey KatzJEFFREY KATZ

INTERIM EXECUTIVE DIRECTOR

Total calculated

$66,000

From this org

$66,000

From related orgs

$0

Other

$0

Hours/week

40 + 1 related
Erica SchwarzERICA SCHWARZ

EXECUTIVE DIRECTOR

Total calculated

$65,614

From this org

$65,614

From related orgs

$0

Other

$0

Hours/week

40 + 1 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.

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.

ACADEMY DEVELOPMENT PARTNERS INC

501(C)(3) · AFFORDABLE HOUSING · MA · controlled entity

Directly controlled by HOUSING CORPORATION OF ARLINGTON

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.

HOLY SAGE KRP LLC

AFFORDABLE HOUSING · MA · income $1,092,709 · assets $17,089,827

Directly controlled by HOUSING CORPORATION OF ARLINGTON

Related partnerships

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

HCA CAPITOL SQUARE APARTMENTS LLC

RENTAL REAL ESTATE · MA
DSBI LLC

RENTAL REAL ESTATE · MA

Related corporations and trusts

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

252 258-260 MASS AVE LLC

C · RENTAL REAL ESTATE · MA · 79% owned · controlled entity

Directly controlled by HOUSING CORPORATION OF ARLINGTON
DSBI MANAGER LLC

C · RENTAL REAL ESTATE · MA · 79% owned

Directly controlled by HOUSING CORPORATION OF ARLINGTON

Provenance

Return type: form_990
Tax year: 2022
Filed: 5 December 2024
IRS schema version: 2022v5.0
Source object: 202423449349301302

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.