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Nonprofiteer
← DOVER CLUB OF MIT INC

Form 990 for tax year 2022

Filed by DOVER CLUB OF MIT INC.

Totals

Total revenue
$284,064
Total expenses
$237,245
Contributions and grants received
$141,831
Grants paid
$0
Program service revenue
$140,000
Investment income
$2,233
Other revenue
$0
Total assets, end of year
$1,077,027
Total liabilities, end of year
$829,624
Net assets or fund balances, end of year
$247,403
Program services expenses (Part IX)
$234,281
Management and general expenses
$2,964
Fundraising expenses
$0
Program service expenses (Part III)
$234,281

Program services were 98.8% 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

    $141,831

  • 2a · Program service revenue: RENT INCOME

    total $140,000 · related or exempt $140,000

  • 3 · Investment income

    total $2,233 · excluded $2,233

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $11,813 · program services $11,813

  • 11c · Fees: accounting

    total $2,500 · management and general $2,500

  • 14 · Information technology

    total $2,500 · program services $2,500

  • 20 · Interest

    total $24,754 · program services $24,754

  • 22 · Depreciation, depletion and amortization

    total $40,449 · program services $40,449

  • 23 · Insurance

    total $41,957 · program services $41,957

  • 24a · Other expenses: ALUMNI RELATIONS

    total $71,318 · program services $71,318

  • 24b · Other expenses: TAX:REAL ESTATE

    total $29,173 · program services $29,173

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $6,678 · program services $6,678

  • 24d · Other expenses: MISCELLANEOUS

    total $3,192 · program services $3,192

  • 24e · All other expenses

    total $2,911 · program services $2,447 · management and general $464

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $130,037 · end of year $79,723

  • 2 · Savings and temporary cash investments

    beginning of year $181,973 · end of year $77,089

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

    $1,174,526

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

    $452,711

  • 10c · Land, buildings and equipment, net

    beginning of year $721,191 · end of year $721,815

  • 15 · Other assets

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

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,000 · end of year $18,856

  • 25 · Other liabilities

    beginning of year $831,617 · end of year $810,768

  • 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 $200,584 · end of year $247,403

Mission and programs · 2022

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 $234,281

As filed on the 2022 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
    1

  • David Kelley

    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
2022
Filed
16 February 2024
IRS schema version
2022v5.0
Source object
202430519349300633

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