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← DART GARDENS MUTUAL HOUSING ASSOCIATION INC

Form 990 for tax year 2023

Filed by DART GARDENS MUTUAL HOUSING ASSOCIATION INC.

Totals

Total revenue
$599,987
Total expenses
$711,076
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$587,790
Investment income
$26
Other revenue
$12,171
Total assets, end of year
$1,718,304
Total liabilities, end of year
$75,670
Net assets or fund balances, end of year
$1,642,634
Program services expenses (Part IX)
$643,559
Management and general expenses
$67,517
Fundraising expenses
$0
Program service expenses (Part III)
$643,559

Program services were 90.5% 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: RENTAL INCOME

    total $587,790 · related or exempt $587,790

  • 3 · Investment income

    total $26 · excluded $26

  • 11d · All other revenue

    total $12,171 · related or exempt $12,171

  • 11e · Other revenue, total

    $12,171

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $170,976 · program services $125,352 · management and general $45,624

  • 11b · Fees: legal

    total $5,441 · program services $5,441

  • 11c · Fees: accounting

    total $21,893 · management and general $21,893

  • 12 · Advertising and promotion

    total $3,419 · program services $3,419

  • 13 · Office expenses

    total $16,665 · program services $16,665

  • 16 · Occupancy

    total $244,298 · program services $244,298

  • 22 · Depreciation, depletion and amortization

    total $109,228 · program services $109,228

  • 24a · Other expenses: OPERATING & MAINTENANCE

    total $97,191 · program services $97,191

  • 24b · Other expenses: BAD DEBTS

    total $25,885 · program services $25,885

  • 24e · All other expenses

    total $16,080 · program services $16,080

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $37,911 · end of year $55,530

  • 4 · Accounts receivable

    beginning of year $2,349 · end of year $5,029

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,647 · end of year $8,389

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

    $4,049,368

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

    $2,477,800

  • 10c · Land, buildings and equipment, net

    beginning of year $1,680,795 · end of year $1,571,568

  • 15 · Other assets

    beginning of year $100,481 · end of year $77,788

  • 17 · Accounts payable and accrued expenses

    beginning of year $32,300 · end of year $37,012

  • 19 · Deferred revenue

    beginning of year $5,987 · end of year $3,820

  • 21 · Escrow or custodial account liability

    beginning of year $33,333 · end of year $31,145

  • 25 · Other liabilities

    beginning of year $11,840 · end of year $3,693

  • 27 · Net assets without donor restrictions

    beginning of year $1,753,723 · end of year $1,642,634

Mission and programs · 2023

Mission

TO PROVIDE AFFORDABLE HOUSING THROUGH THE USE OF 54 UNITS, TO LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES.

  • TO PROVIDE AFFORDABLE HOUSING THROUGH THE USE OF 54 UNITS, TO LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES.

    Expenses $643,559 · Revenue $599,961

As filed on the 2023 return.

Listed in Part VII

  • EMILY HULTQUIST

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5 + 1.5 related

  • MICHAEL LENKIEWICZ

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 1.5 related

  • SHAWNETTE TAYLOR

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 1.5 related

  • CATHERINE MACKINNON

    EXECUTIVE DIRECTOR

    Total calculated
    $161,512
    From this org
    $0
    From related orgs
    $130,117
    Other
    $31,395
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $128,920 related
    Bonus
    $0
    Other
    $0 + $1,197 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $31,395 related
    Filer's total
    $0 + $161,512 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

The filer's explanations (Part III)

FORM 990 SCHEDULE J PART III
THE BOARD OF DIRECTORS FOR THE RELATED ORGANIZATION REVIEWS AND APPROVES THE COMPENSATION FOR THE EXECUTIVE DIRECTOR ON AN ANNUAL BASIS.

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 corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
31 August 2024
IRS schema version
2023v5.1
Source object
202412519349300101

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