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← ACRE TRIANGLE COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by ACRE TRIANGLE COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$313,310
Total expenses
$346,224
Contributions and grants received
$0
Grants paid
$75,000
Program service revenue
$282,742
Investment income
$208
Other revenue
$30,360
Total assets, end of year
$2,065,477
Total liabilities, end of year
$310,899
Net assets or fund balances, end of year
$1,754,578
Program services expenses (Part IX)
$329,152
Management and general expenses
$17,072
Fundraising expenses
$0
Program service expenses (Part III)
$329,152

Program services were 95.1% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $282,742 · related or exempt $282,742

  • 3 · Investment income

    total $208 · excluded $208

  • 11a · Other revenue: MISCELLANEOUS

    total $30,360 · related or exempt $30,360

  • 11e · Other revenue, total

    $30,360

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $75,000 · program services $75,000

  • 7 · Other salaries and wages

    total $37,190 · program services $37,190

  • 9 · Other employee benefits

    total $4,817 · program services $4,817

  • 10 · Payroll taxes

    total $3,353 · program services $3,353

  • 11c · Fees: accounting

    total $8,500 · program services $8,500

  • 13 · Office expenses

    total $8,264 · program services $8,264

  • 20 · Interest

    total $12,199 · program services $12,199

  • 22 · Depreciation, depletion and amortization

    total $26,051 · program services $26,051

  • 23 · Insurance

    total $16,306 · program services $16,306

  • 24a · Other expenses: CONTRACTED SERVICES

    total $56,266 · program services $56,266

  • 24b · Other expenses: REAL ESTATE TAXES

    total $43,357 · program services $43,357

  • 24c · Other expenses: UTILITIES

    total $29,386 · program services $29,386

  • 24d · Other expenses: PROPERTY MANAGEMENT FEE

    total $12,518 · management and general $12,518

  • 24e · All other expenses

    total $13,017 · program services $8,463 · management and general $4,554

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $130,904 · end of year $89,082

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,464 · end of year $4,532

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

    $802,875

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

    $443,888

  • 10c · Land, buildings and equipment, net

    beginning of year $370,337 · end of year $358,987

  • 14 · Intangible assets

    beginning of year $5,307 · end of year $4,963

  • 15 · Other assets

    beginning of year $1,582,311 · end of year $1,607,913

  • 17 · Accounts payable and accrued expenses

    beginning of year $48,394 · end of year $63,685

  • 23 · Secured mortgages and notes payable

    beginning of year $253,394 · end of year $241,845

  • 25 · Other liabilities

    beginning of year $5,043 · end of year $5,369

  • 27 · Net assets without donor restrictions

    beginning of year $1,787,492 · end of year $1,754,578

Mission and programs · 2023

Mission

MANAGE AFFORDABLE HOUSING

Activities or mission (Part I)

PROPERTY MANAGEMENT - MANAGES PROPERTIES DEVELOPED TO HOUSE LOW AND MODERATE INCOME RESIDENTS

  • PROPERTY MANAGEMENT - MANAGES PROPERTIES DEVELOPED TO HOUSE LOW AND MODERATE INCOME RESIDENTS AS WELL AS MANAGEMENT OF COMMERCIAL BUILDING USED MAINLY FOR MINORITY BUSINESSES.

    Expenses $329,152 · Grants $75,000 · Revenue $313,102

As filed on the 2023 return.

Listed in Part VII

  • JESS WILSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SIXTO DEJESUS

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD CHAVEZ

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • PAUL GAUDET

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PATTY COFFEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CARLOS GONZALEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MASADA JONES

    CLERK

    Total calculated
    $0
    Hours/week
    1

  • MUSU GAYE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PETER MARTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ERIC PONN

    EXECUTIVE COMMITTEE

    Total calculated
    $0
    Hours/week
    1

  • THOMAS EMERY

    DIRECTOR OF REAL ESTATE

    Total calculated
    $120,540
    From this org
    $0
    From related orgs
    $100,006
    Other
    $20,534
    Hours/week
    1

  • CARMEN BERMUDEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DEBORAH MOTEW

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • LAURA TAVARES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARY WAMBUI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CLAIRE RICKER

    DIRECTOR OF REAL ESTATE

    Total calculated
    $0
    Hours/week
    1

  • MARIA GUTIERREZ-YAPUR

    DIRECTOR OF PROGRAMS

    Total calculated
    $80,570
    From this org
    $0
    From related orgs
    $76,733
    Other
    $3,837
    Hours/week
    1

  • AMADA GREGORY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SIDNEY LIANG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ZELMA LYONS-KHADAR

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • THAO LAN

    5TH EXECUTIVE, CLERK

    Total calculated
    $0
    Hours/week
    1

  • LESLIE BRIONES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRANDY DAILEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GEORGE RAMIREZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHAMIR ROVERA-QUINTAL

    DIRECTOR OF OPERATIONS

    Total calculated
    $100,585
    From this org
    $0
    From related orgs
    $74,900
    Other
    $25,685
    Hours/week
    1

  • MICHELE WITTS

    CHIEF FINANCIAL OFFICER

    Total calculated
    $134,123
    From this org
    $0
    From related orgs
    $112,658
    Other
    $21,465
    Hours/week
    40

  • YUN JU CHOI

    EXECUTIVE DIRECTOR

    Total calculated
    $161,296
    From this org
    $0
    From related orgs
    $145,456
    Other
    $15,840
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $145,456 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $15,840 related
    Filer's total
    $0 + $161,296 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)

SCHEDULE J, PART II, LINE 1
A REVIEW OF COMPENSATION FOR EXECUTIVE DIRECTORS OR COMPARABLY SIZED COMMUNITY DEVELOPMENT CORPORATIONS WAS PERFORMED BY THE BOARD IN CONJUCTION WITH THE HIRING OF THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR PERIODICALLY REVIEWS SUCH DATA FOR KEY MANAGEMENT STAFF TO ENSURE SALARIES ARE IN LINE WITH COMPARABLE ORGANIZATIONS BY SIZE, GEOGRAPHY AND MISSION FOCUS.

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

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 partnerships

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

Related corporations and trusts

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

  • TRIANGLE RENTAL INC

    C · RELATED ORGANIZATION · MA

    Directly controlled by COALITION FOR A BETTER ACRE INC

  • MOODY STREET CENTER INC

    C · RELATED ORGANIZATION · MA

    Directly controlled by COALITION FOR A BETTER ACRE INC

  • LIBERTY SQUARE HOUSING INC

    C · RELATED ORGANIZATION · MA

    Directly controlled by COALITION FOR A BETTER ACRE INC

  • NEW NORTH CANAL HOUSING INC

    C · RELATED ORGANIZATION · MA

    Directly controlled by COALITION FOR A BETTER ACRE INC

  • NEW ACRE MERRIMACK INC

    C · RELATED ORGANIZATION · MA

    Directly controlled by COALITION FOR A BETTER ACRE INC

  • ST JOSEPH'S MM LLC

    C · RELATED ORGANIZATION · MA

    Directly controlled by COALITION FOR A BETTER ACRE INC

  • ACRE MERRIMACK INC

    C · RELATED ORGANIZATION · MA · 76.9% owned

    Directly controlled by ACRE TRIANGLE COMMUNITY DEVELOPMENT CORPORATION

  • NORTH CANAL HOUSING TRUST INC

    C · RELATED ORGANIZATION · MA · 60% owned

    Directly controlled by ACRE TRIANGLE COMMUNITY DEVELOPMENT CORPORATION

  • CBA AFFORDABLE HOUSING LLC

    C · RELATED ORGANIZATION · MA

    Directly controlled by COALITION FOR A BETTER ACRE INC

  • UNITY PLACE MM LLC

    C · RELATED ORGANIZATION · MA

    Directly controlled by COALITION FOR A BETTER ACRE INC

  • GORHAM STREET MM LLC

    C · RELATED ORGANIZATION · MA

    Directly controlled by COALITION FOR A BETTER ACRE INC

  • WELCOME HOME HOUSING MM LLC

    C · RELATED ORGANIZATION · MA

    Directly controlled by COALITION FOR A BETTER ACRE INC

  • GERSON BUILDING MM LLC

    C · RELATED ORGANIZATION · MA

    Directly controlled by COALITION FOR A BETTER ACRE INC

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202403199349313630

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