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Nonprofiteer
← DUDLEY ECONOMIC EMPOWERMENT PARTNERS INC

Form 990 for tax year 2022

Filed by DUDLEY ECONOMIC EMPOWERMENT PARTNERS INC.

Totals

Total revenue
$49,847
Total expenses
$1,305,411
Contributions and grants received
$0
Grants paid
$975,000
Program service revenue
$117,468
Investment income
-$67,674
Other revenue
$53
Total assets, end of year
$6,188,752
Total liabilities, end of year
$104,688
Net assets or fund balances, end of year
$6,084,064
Program services expenses (Part IX)
$1,238,366
Management and general expenses
$67,045
Fundraising expenses
$0
Program service expenses (Part III)
$1,238,366

Program services were 94.9% 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 $117,468 · related or exempt $117,468

  • 3 · Investment income

    total $89,454 · excluded $89,454

  • 7a · Gross sales of assets other than inventory

    securities $1,803,932

  • 7b · Less cost or other basis and sales expenses

    securities $1,961,060

  • 7c · Gain or loss

    securities -$157,128

  • 7d · Net gain or loss

    total -$157,128 · excluded -$157,128

  • 11d · All other revenue

    total $53 · related or exempt $53

  • 11e · Other revenue, total

    $53

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $975,000 · program services $975,000

  • 11a · Fees: management

    total $155,000 · program services $155,000

  • 11f · Fees: investment management

    total $30,484 · management and general $30,484

  • 11g · Fees: other

    total $24,145 · program services $3,870 · management and general $20,275

  • 16 · Occupancy

    total $53,327 · program services $53,327

  • 22 · Depreciation, depletion and amortization

    total $51,169 · program services $51,169

  • 23 · Insurance

    total $16,286 · management and general $16,286

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $562,852 · end of year $307,865

  • 4 · Accounts receivable

    beginning of year $82,780 · end of year $3,765

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,755 · end of year $5,648

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

    $2,344,304

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

    $688,103

  • 10c · Land, buildings and equipment, net

    beginning of year $1,707,371 · end of year $1,656,201

  • 11 · Investments: publicly traded securities

    beginning of year $3,622,592 · end of year $4,090,074

  • 15 · Other assets

    beginning of year $835,263 · end of year $125,199

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,626 · end of year $4,000

  • 25 · Other liabilities

    beginning of year $0 · end of year $100,688

  • 27 · Net assets without donor restrictions

    beginning of year $6,813,987 · end of year $6,084,064

Mission and programs · 2022

Mission

THE PRIMARY MISSION OF DEEP IS TO PROMOTE ECONOMIC DEVELOPMENT; TO IDENTIFY AND ALLEVIATE STRUCTURAL CAUSES OF BUSINESS DECLINE; TO INVEST IN THE COMMUNITY BY PURCHASING AND HOLDING STRATEGIC PROPERTY FOR DEVELOPMENT; TO GUIDE ECONOMIC DEVELOPMENT PROCESSES AS A TRUSTEE OF THE COMMUNITY RESIDENTS; AND TO DO ALL ACTS PERMITTED UNDER THE PROVISIONS OF CHAPTER 180 OF THE GENERAL LAWS OF MASS. AND SECTION 501 (C)(3) OF THE IRS CODE.

  • DEEP MAINLY SERVES AS THE DEVELOPER/REAL ESTATE ROLE FOR THE YBB/DEEP OPERATIONS. AS A LANDLORD, THE DEEP PROPERTIES' TENANTS OPERATE A 100 SLOT DAY CARE CENTER. THE TENANT PROVIDES MENTAL HEALTH AND SHELTER CARE SERVICES TO CLIENTS ACROSS THE CITY. IN ITS ROLE AS A DEVELOPER, DEEP'S AFFORDABLE HOUSING PROJECT WAS 23 RUSKENDALE STREET, WHICH SERVED AS A TRAINING SITE FOR MORE THAN 30 TRAINEES DURING THE FISCAL YEAR.

    Expenses $1,238,366 · Grants $975,000 · Revenue $117,521

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • AMANDA FORDE

    CO-PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • SHAUN LEONARD

    CO-PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • KENNETH WILLIS

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • DAVID HARRIS

    CLERK

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • JEANINE ARMITSTEAD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • AMENYONAH BOSSMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • CHARLES BORSTEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • LEROY BROWNE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • FRANK BURT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • TROY DEPEZIA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • MELINDA GIOVENGO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • TOM GOEMAAT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • AL GOGOLIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • JILL LACEY GRIFFIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • MATT GROSSHANDLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • SCOTT HARRINGTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • ELLEN O'CONNOR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • EDWARD RANSOM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • LIEM TRAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • MELVIN VIERIA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • SHELLEY WEBSTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • BROOKE WOODSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • BRIAN MCPHERSON

    EXECUTIVE DIRECTOR

    Total calculated
    $162,715
    From this org
    $0
    From related orgs
    $162,072
    Other
    $643
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $162,072 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $643 related
    Filer's total
    $0 + $162,715 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)

PART I, LINE 3
COMPENSATION PAID BY RELATED ORGANIZATION: THE EXECUTIVE DIRECTOR'S SALARY IS SET BY YOUTHBUILD BOSTON'S BOARD OF DIRECTORS AND REVIEWED EACH YEAR.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 August 2024
IRS schema version
2022v5.0
Source object
202442289349303659

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