Skip to content
Nonprofiteer
← COMMUNITY DEVELOPMENT INC

Form 990 for tax year 2023

Filed by COMMUNITY DEVELOPMENT INC.

Totals

Total revenue
$1,998,114
Total expenses
$2,192,727
Contributions and grants received
$100
Grants paid
$1,920,887
Program service revenue
$1,998,014
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,631,654
Total liabilities, end of year
$259,763
Net assets or fund balances, end of year
$1,371,891
Program services expenses (Part IX)
$2,173,824
Management and general expenses
$18,903
Fundraising expenses
$0
Program service expenses (Part III)
$2,173,824

Program services were 99.1% 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

    $100

  • 2a · Program service revenue: BAD DEBT RECOVERY

    total $1,613,085 · related or exempt $1,613,085

  • 2b · Program service revenue: INTEREST ON NOTES RECE

    total $250,620 · related or exempt $250,620

  • 2c · Program service revenue: GROUND LEASE AND RELAT

    total $134,309 · related or exempt $134,309

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,920,887 · program services $1,920,887

  • 11c · Fees: accounting

    total $13,450 · management and general $13,450

  • 16 · Occupancy

    total $5,453 · management and general $5,453

  • 20 · Interest

    total $41,233 · program services $41,233

  • 24a · Other expenses: BAD DEBT

    total $211,704 · program services $211,704

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $38,032 · end of year $46,558

  • 4 · Accounts receivable

    beginning of year $38 · end of year $38

  • 7 · Other notes and loans receivable

    beginning of year $1,746,944 · end of year $1,554,836

  • 9 · Prepaid expenses and deferred charges

    end of year $1,587

  • 14 · Intangible assets

    beginning of year $28,763 · end of year $28,635

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,150 · end of year $28,166

  • 25 · Other liabilities

    beginning of year $231,123 · end of year $231,597

  • 27 · Net assets without donor restrictions

    beginning of year $1,566,504 · end of year $1,371,891

Mission and programs · 2023

Mission

COMMUNITY DEVELOPMENT,INC. (THE "CORPORATION") IS A NONPROFIT ORGANIZATION ESTABLISHED TO ACQUIRE, IMPROVE (THROUGH REHABILITATION, NEW CONSTRUCTION, OR OTHERWISE) AND TO MAKE AVAILABLE AFFORDABLE HOUSING TO PERSONS AND FAMILIES WITH LOW AND MODERATE INCOMES; TO ACQUIRE, OWN AND DISPOSE OF PARTNERSHIP OR MEMBERSHIP INTERESTS IN LIMITED PARTNERSHIPS ("LPS") OR LIMITED LIABILITY COMPANIES ("LLCS") AND STOCK IN CORPORATIONS PROVIDING HOUSING FOR THE BENEFIT OF PERSONS AND FAMILIES AS DEFINED ABOVE; AND TO PROMOTE SOCIAL WELFARE AND COMBAT COMMUNITY DETERIORATION BY IMPROVING EXISTING PROPERTY OR CREATING NEW FACILITIES WITHIN BLIGHTED, DECAYED, OR SUBSTANDARD AREAS.

Activities or mission (Part I)

COMMUNITY DEVELOPMENT, INC. (THE CORPORATION) IS A NONPROFIT ORGANIZATION ESTABLISHED TO ACQUIRE, IMPROVE (THROUGH REHABILITATION, NEW CONSTRUCTION, OR OTHERWISE) AND TO MAKE AVAILABLE AFFORDABLE HOUSING TO PERSONS AND FAMILIES WITH LOW AND MODERATE INCOMES; TO ACQUIRE, OWN AND DISPOSE OF PARTNERSHIP OR MEMBERSHIP INTERESTS IN LIMITED PARTNERSHIPS (LPS) OR LIMITED LIABILITY COMPANIES (LLCS) AND STOCK IN CORPORATIONS PROVIDING HOUSING FOR THE BENEFIT OF PERSONS AND FAMILIES AS DEFINED ABOVE; TO PROMOTE SOCIAL WELFARE AND COMBAT COMMUNITY DETERIORATION BY IMPROVING EXISTING PROPERTY OR CREATING NEW FACILITIES WITHIN BLIGHTED, DECAYED, OR SUBSTANDARD AREAS; AND TO PROVIDE OFFICE FACILITIES TO OTHER NONPROFIT ORGANIZATIONS AT BELOW COST IN ORDER TO ASSIST THOSE ORGANIZATIONS IN ACCOMPLISHING THEIR CHARITABLE PURPOSES.

  • COMMUNITY DEVELOPMENT,INC. (THE "CORPORATION") IS A NONPROFIT ORGANIZATION ESTABLISHED TO ACQUIRE, IMPROVE (THROUGH REHABILITATION, NEW CONSTRUCTION, OR OTHERWISE) AND TO MAKE AVAILABLE AFFORDABLE HOUSING TO PERSONS AND FAMILIES WITH LOW AND MODERATE INCOMES; TO ACQUIRE, OWN AND DISPOSE OF PARTNERSHIP OR MEMBERSHIP INTERESTS IN LIMITED PARTNERSHIPS ("LPS") OR LIMITED LIABILITY COMPANIES ("LLCS") AND STOCK IN CORPORATIONS PROVIDING HOUSING FOR THE BENEFIT OF PERSONS AND FAMILIES AS DEFINED ABOVE; AND TO PROMOTE SOCIAL WELFARE AND COMBAT COMMUNITY DETERIORATION BY IMPROVING EXISTING PROPERTY OR CREATING NEW FACILITIES WITHIN BLIGHTED, DECAYED, OR SUBSTANDARD AREAS.

    Expenses $2,173,824 · Grants $1,920,887 · Revenue $1,998,014

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

Listed in Part VII

  • Nina Schwarzschild

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Phillip L Clay

    PRESIDENT/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Russell Tanner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

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

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.

  • CHAUNCY HOUSE LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MA · 99.99% owned · share of income $30,593 · share of assets $1,046,995

    Directly controlled by COMMUNITY DEVELOPMENT INC

  • NB HOMES URBAN RENEWAL LP

    RELATED · LOW INCOME HOUSING · NJ · 99.99% owned · share of income -$729,869 · share of assets $5,841,490

    Directly controlled by COMMUNITY DEVELOPMENT INC

  • NEW HOPE URBAN RENEWAL LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MA · 99.99% owned · share of income $742,807 · share of assets $17,921,983

    Directly controlled by COMMUNITY DEVELOPMENT INC

  • SALEM HEIGHTS II PRESERVATION ASSOCIATES LP

    LOW INCOME HOUSING · MA · general or managing partner

  • TCB PERRY STREET LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MA · 99.99% owned · share of income -$81,297 · share of assets $1,882,521

    Directly controlled by COMMUNITY DEVELOPMENT INC

Related corporations and trusts

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

  • SEVER STREET MM LLC

    C · LOW INCOME HOUSING · MA · 51% owned · share of income $62,731 · share of assets -$307 · controlled entity

    Directly controlled by COMMUNITY DEVELOPMENT INC

  • POAH SALEM HEIGHTS II LLC

    C · LOW INCOME HOUSING · MA · 71% owned · controlled entity

    Directly controlled by COMMUNITY DEVELOPMENT INC

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202403189349304260

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.