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Nonprofiteer
← INCOMMON HOUSING DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by INCOMMON HOUSING DEVELOPMENT CORPORATION.

Totals

Total revenue
$269,845
Total expenses
$227,358
Contributions and grants received
$269,845
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,644,652
Total liabilities, end of year
$1,522,039
Net assets or fund balances, end of year
$122,613
Program services expenses (Part IX)
$227,358
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$227,358

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.

  • 1f · All other contributions, gifts and grants

    $269,845

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $103,058 · program services $103,058

  • 7 · Other salaries and wages

    total $51,830 · program services $51,830

  • 9 · Other employee benefits

    total $2,247 · program services $2,247

  • 10 · Payroll taxes

    total $7,180 · program services $7,180

  • 11g · Fees: other

    total $10,664 · program services $10,664

  • 20 · Interest

    total $3,725 · program services $3,725

  • 22 · Depreciation, depletion and amortization

    total $5,625 · program services $5,625

  • 23 · Insurance

    total $3,807 · program services $3,807

  • 24a · Other expenses: PROGRAM EXPENSES

    total $35,714 · program services $35,714

  • 24b · Other expenses: INDIRECT COSTS

    total $1,430 · program services $1,430

  • 24c · Other expenses: PROFESSIONAL DEVELOPMEN

    total $1,206 · program services $1,206

  • 24d · Other expenses: EQUIPMENT

    total $872 · program services $872

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $172,415

  • 4 · Accounts receivable

    end of year $20,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,673 · end of year $3,807

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

    $1,439,055

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $1,439,055

  • 14 · Intangible assets

    end of year $9,375

  • 15 · Other assets

    beginning of year $77,304 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $851 · end of year $103,727

  • 23 · Secured mortgages and notes payable

    end of year $1,418,312

  • 27 · Net assets without donor restrictions

    beginning of year $80,126 · end of year $122,613

Mission and programs · 2023

Mission

OUR MISSION IS TO BUILD STRONG NEIGHBORHOODS WHERE PEOPLE OF ALL INCOMES CAN ACHIEVE THEIR FULL POTENTIAL BY PRIMARILY DEVELOPING AND OPERATING HIGH QUALITY AFFORDABLE, MIXED INCOME AND WORKFORCE HOUSING; PROMOTING NEIGHBORHOOD DEVELOPMENT THROUGH INVESTMENTS THAT GENERATE PERMANENT JOBS; STEWARDING PERMANENTLY AFFORDABLE HOMES TO FOSTER THE ACCRETION OF NEW GENERATIONAL WEALTH; AND BY PLANNING AND IMPLEMENTING OTHER ECONOMIC PROGRAMS AND COMMUNITY FORMATION INITIATIVES CRITICAL TO THESE PURPOSES.

Activities or mission (Part I)

TO STRENGTHEN NEIGHBORHOODS BY DEVELOPING AND PRESERVING AFFORDABLE, DIGNIFIED HOUSING.

  • THE MISSION OF INCOMMON HOUSING IS TO "STRENGTHEN VULNERABLE NEIGHBORHOODS BY DEVELOPING AND PRESERVING AFFORDABLE, DIGNIFIED HOUSING." THIS IS ACCOMPLISHED BY DEVELOPING HOUSING THAT PRIORITIZES NEIGHBORHOOD VOICES, IS THOUGHTFULLY DESIGNED, CONTRIBUTES TO THE COMMUNITY, AND FOSTERS STABILITY. INCOMMON HOUSING SUPPORTS INCOMMON COMMUNITY DEVELOPMENT IN ADDRESSING NEIGHBORS' CRITICAL NEED FOR AFFORDABLE HOUSING AS THE OVERALL MISSION OF GRASSROOTS NEIGHBORHOOD REVITALIZATION IS ADVANCED. THE PRIMARY OBJECTIVE OF IHD IS TO DEVELOP NEW AND PRESERVE EXISTING MULTI- AND SINGLE-FAMILY HOUSING BENEFITTING LOW-INCOME NEIGHBORS. SINCE ITS FOUNDING IN 2022, INCOMMON HOUSING HAS FINALIZED THE HANSCOM & GEORGIA ROW APARTMENTS, WHICH PROVIDES 76-UNITS OF HOUSING FOR OVER 100 NEIGHBORS AND HAS LAUNCHED THE COMMUNITY LAND TRUST, A NEW NON-PROFIT THAT SUPPORTS HOMEOWNERSHIP OPPORTUNITIES WITHIN INCOMMON'S NEIGHBORHOODS. INCOMMON HOUSING IS ALSO DEVELOPING NEW, AFFORDABLE, MULTI-FAMILY HOUSING WITHIN THE PARK AVENUE NEIGHBORHOOD, WHICH WILL PROVIDE 122 RESIDENTIAL UNITS AND 3,700 SQUARE FEET OF COMMERCIAL SPACE.

    Expenses $227,358

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

Listed in Part VII

  • George Achola

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Ryan Durant

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Jim Rieker

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Rachel Bahl

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Christian Gray

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Julie Stavneak

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Buey Tut

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sheryl Grant

    PROJECT MANAGER

    Total calculated
    $103,058
    From this org
    $103,058
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349319942

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