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Nonprofiteer
← METRO WEST COLLABORATIVE DEVELOPMENT INC

Form 990 for tax year 2023

Filed by METRO WEST COLLABORATIVE DEVELOPMENT INC.

Totals

Total revenue
$1,385,698
Total expenses
$1,861,146
Contributions and grants received
$390,762
Grants paid
$0
Program service revenue
$922,969
Investment income
$50,641
Other revenue
$21,326
Total assets, end of year
$35,512,317
Total liabilities, end of year
$34,098,017
Net assets or fund balances, end of year
$1,414,300
Program services expenses (Part IX)
$1,592,409
Management and general expenses
$268,737
Fundraising expenses
$0
Program service expenses (Part III)
$1,592,409

Program services were 85.6% 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.

  • 1e · Government grants (contributions)

    $124,578

  • 1f · All other contributions, gifts and grants

    $266,184

  • 2a · Program service revenue: RENTAL INCOME

    total $331,460 · related or exempt $331,460

  • 2b · Program service revenue: CONTRACTS

    total $218,570 · related or exempt $218,570

  • 2c · Program service revenue: DEVELOPER FEES

    total $184,808 · related or exempt $184,808

  • 2d · Program service revenue: COMMERCIAL INCOME

    total $118,243 · related or exempt $118,243

  • 2e · Program service revenue: PROGRAM FEES

    total $69,888 · related or exempt $69,888

  • 3 · Investment income

    total $50,641 · excluded $50,641

  • 11a · Other revenue: RECOVERY OF BAD DEBT

    total $19,661 · related or exempt $19,661

  • 11d · All other revenue

    total $1,665 · related or exempt $1,665

  • 11e · Other revenue, total

    $21,326

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $143,383 · program services $61,192 · management and general $82,191

  • 7 · Other salaries and wages

    total $694,975 · program services $677,651 · management and general $17,324

  • 9 · Other employee benefits

    total $44,639 · program services $36,474 · management and general $8,165

  • 10 · Payroll taxes

    total $80,449 · program services $65,733 · management and general $14,716

  • 11a · Fees: management

    total $22,247 · program services $22,247

  • 11b · Fees: legal

    total $2,678 · management and general $2,678

  • 11c · Fees: accounting

    total $125,890 · program services $54,310 · management and general $71,580

  • 11g · Fees: other

    total $64,351 · program services $28,131 · management and general $36,220

  • 12 · Advertising and promotion

    total $6,043 · program services $6,043

  • 13 · Office expenses

    total $34,406 · program services $31,160 · management and general $3,246

  • 14 · Information technology

    total $15,598 · program services $5,528 · management and general $10,070

  • 16 · Occupancy

    total $447,256 · program services $431,091 · management and general $16,165

  • 17 · Travel

    total $6,515 · program services $6,515

  • 22 · Depreciation, depletion and amortization

    total $120,675 · program services $114,293 · management and general $6,382

  • 24a · Other expenses: PROVISION AGAINST NOTE

    total $49,774 · program services $49,774

  • 24b · Other expenses: CIP AND OTHER DEV. WRIT

    total $298 · program services $298

  • 24e · All other expenses

    total $1,969 · program services $1,969

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $338,013 · end of year $523,535

  • 2 · Savings and temporary cash investments

    beginning of year $1,259,590 · end of year $1,496,255

  • 3 · Pledges and grants receivable

    end of year $19,025

  • 4 · Accounts receivable

    beginning of year $71,544 · end of year $165,322

  • 7 · Other notes and loans receivable

    beginning of year $700,000 · end of year $16,559

  • 9 · Prepaid expenses and deferred charges

    beginning of year $46,735 · end of year $53,507

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

    $6,361,514

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

    $641,614

  • 10c · Land, buildings and equipment, net

    beginning of year $5,762,407 · end of year $5,719,900

  • 14 · Intangible assets

    beginning of year $5,998 · end of year $963,283

  • 15 · Other assets

    beginning of year $9,625,647 · end of year $26,554,931

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,527,283 · end of year $4,000,603

  • 19 · Deferred revenue

    beginning of year $103,849 · end of year $40,422

  • 21 · Escrow or custodial account liability

    end of year $8,998

  • 23 · Secured mortgages and notes payable

    beginning of year $5,581,066 · end of year $17,996,185

  • 25 · Other liabilities

    beginning of year $7,780,358 · end of year $12,051,809

  • 27 · Net assets without donor restrictions

    beginning of year $1,793,716 · end of year $1,391,772

  • 28 · Net assets with donor restrictions

    beginning of year $23,662 · end of year $22,528

Mission and programs · 2023

Mission

TO PRESERVE AND PROMOTE AFFORDBALE HOUSING, SUPPORT ECONOMIC DEVELOPMENT AND BUILD SUPPORT FOR COMMUNITY DEVELOPMENT.

Activities or mission (Part I)

TO ORGANIZE RESIDENTS, MOBILIZE RESOURCES, AND IDENTIFY IDEAS THAT IMPROVE THE QUALITY OF LIFE FOR RESIDENTS OF METRO WEST COMMUNITIES. WE ACCOMPLISH THIS BY:1) CREATING AND PRESERVING AFFORDABLE HOMES2) SUPPORTING ECONOMIC DEVELOPMENT THAT STRENGTHENS NEIGHBORHOODS, TOWNS AND OTHER REGION3) BUILDING ALLIANCES WITH PARTNERS AND CONSTITUENCIES THROUGOUT THE REGION IN ORDER TO INCREASE AWARENESS AND BUILD SUPPORT FOR COMMUNITY DEVELOPMENT

  • METRO WEST CD SEEKS TO ENGAGE RESIDENTS IN LOCAL PLANNING AND DECISION MAKING THAT EFFECTS THEIR NEIGHBORHOODS

    Expenses $995,655 · Revenue $759,487

  • IN 2023 METRO WEST CD CONTINUED CONSTRUCTION OF 44 AFFORDABLE HOUSING UNITS AND CLOSED ON FINANCING FOR 30+ ADDITIONAL UNITS OF AFFORDABLE HOUSING.

    Expenses $527,374 · Revenue $184,808

  • METRO WEST CD PROVIDES REFERRALS TO HOUSEHOLDS IN SEARCH OF AFFORDABLE HOUSING. WE ALSO COORDINATE LOTTERIES AND TENANT/BUYER SELECTION ON BEHALF OF DEVELOPERS OF AFFORDABLE HOUSING THROUGHOUT MASSACHUSETTS. METRO WEST CD ALSO ADMINISTERS EMERGENCY RENTAL AND DIRECT FINANCIAL ASSISTANCE AND SINCE THE BEGINNING OF THE PANDEMIC HAS SUPPORTED OVER 500 HOUSEHOLDS ON BEHALF OF SEVERAL FOUNDATIONS AND SEVEN MUNICIPALITIES.

    Expenses $69,380

As filed on the 2023 return.

Listed in Part VII

  • Paul Bouton

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Cristina Ayala

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Michael Sherman

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Robert Flack

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Eugenia Chaparro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Mary Corthell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Dorena Wong-Deleon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Kalyani Devajyoti

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Paula Dickerman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Thelma Titus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Melinda Walker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Olga Yasinnik

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.3 related

  • Caitlin Madden

    EXECUTIVE DIRECTOR

    Total calculated
    $149,681
    From this org
    $143,383
    From related orgs
    $0
    Other
    $6,298
    Hours/week
    39 + 1 related

  • Sharone Small

    DIRECTOR OF REAL ESTATE

    Total calculated
    $130,755
    From this org
    $127,249
    From related orgs
    $0
    Other
    $3,506
    Hours/week
    40

  • Alisa Gardner-Todreas

    CHIEF OPERATING OFFICER

    Total calculated
    $103,413
    From this org
    $103,413
    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.

  • 1060 BELMONT INC

    501(C)(3) · AFFORDABLE HOSUING RENTAL · MA · controlled entity

    Directly controlled by METRO WEST COLLABORATIVE DEVELOPMENT INC

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GBW SENIOR APARTMENTS LLC

    AFFORDABLE SENIOR HOUSING · MA · income $0 · assets $22,481,905

    Directly controlled by METRO WEST COLLABORATIVE DEVELOPMENT INC

  • HERRING BROOK HILL LLC

    AFFORDABLE HOUSING · MA · income $406,905 · assets $6,167,494

    Directly controlled by METRO WEST COLLABORATIVE DEVELOPMENT INC

  • 62 PACKARD STREET LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $4,796,567

    Directly controlled by METRO WEST COLLABORATIVE DEVELOPMENT INC

  • WEST NEWTON ARMORY LLC

    AFFORDABLE HOUSING · MA · income $0 · assets $1,095,922

    Directly controlled by METRO WEST COLLABORATIVE DEVELOPMENT INC

Related partnerships

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

  • ST JOSEPH HALL APARTMENTS LLC

    ELDERLY AFFORDABLE HOUSING RENTAL · MA

  • GLEN BROOK WAY APARTMENTS LLC

    AFFORDABLE HOUSING · MA

Related corporations and trusts

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

  • SJH LLC

    C · ELDERLY AFFORDABLE HOSUING RENTAL · MA · 79% owned · share of income $12,885 · controlled entity

    Directly controlled by METRO WEST COLLABORATIVE DEVELOPMENT INC

  • GBW ONE MM LLC

    C · AFFORDABLE HOSUING · MA · 79% owned · share of income $1 · controlled entity

    Directly controlled by METRO WEST COLLABORATIVE DEVELOPMENT INC

  • GBW SENIOR TWO MM LLC

    C · AFFORDABLE HOSUING · MA · 79% owned · controlled entity

    Directly controlled by METRO WEST COLLABORATIVE DEVELOPMENT INC

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202403209349305755

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