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Nonprofiteer
← NHA PROPERTIES INC

Form 990 for tax year 2022

Filed by NHA PROPERTIES INC.

Totals

Total revenue
$3,495,787
Total expenses
$1,298,054
Contributions and grants received
$2,678,080
Grants paid
$0
Program service revenue
$742,523
Investment income
$20,551
Other revenue
$54,633
Total assets, end of year
$26,732,122
Total liabilities, end of year
$9,086,750
Net assets or fund balances, end of year
$17,645,372
Program services expenses (Part IX)
$1,026,196
Management and general expenses
$183,806
Fundraising expenses
$88,052
Program service expenses (Part III)
$1,026,196

Program services were 79.1% 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.

  • 1a · Federated campaigns

    $88,951

  • 1c · Fundraising events

    $66,604

  • 1e · Government grants (contributions)

    $2,160,217

  • 1f · All other contributions, gifts and grants

    $362,308

  • 1g · Noncash contributions included above

    $98,500

  • 2a · Program service revenue: RENTS & TENANT RELATED

    total $691,044 · related or exempt $691,044

  • 2b · Program service revenue: COVENANT INCOME

    total $51,479 · related or exempt $51,479

  • 3 · Investment income

    total $20,551 · excluded $20,551

  • 6a · Gross rents

    real property $40,160

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $40,160

  • 6d · Net rental income or loss

    total $40,160 · excluded $40,160

  • 8a · Fundraising events: gross income

    $44,044

  • 8a · Fundraising events: contributions included on line 1c

    $66,604

  • 8b · Fundraising events: direct expenses

    $58,803

  • 8c · Net income from fundraising events

    total -$14,759 · excluded -$14,759

  • 11a · Other revenue: MISC. INCOME

    total $29,232 · related or exempt $29,232

  • 11e · Other revenue, total

    $29,232

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $390,231 · program services $200,831 · management and general $114,400 · fundraising $75,000

  • 9 · Other employee benefits

    total $20,807 · program services $14,590 · management and general $3,967 · fundraising $2,250

  • 10 · Payroll taxes

    total $32,651 · program services $15,320 · management and general $9,729 · fundraising $7,602

  • 11b · Fees: legal

    total $6,464 · management and general $6,464

  • 11c · Fees: accounting

    total $14,020 · management and general $14,020

  • 11f · Fees: investment management

    total $1,408 · management and general $1,408

  • 11g · Fees: other

    total $2,920 · program services $270 · management and general $2,650

  • 12 · Advertising and promotion

    total $26,194 · program services $26,194

  • 13 · Office expenses

    total $7,442 · program services $3,491 · management and general $3,951

  • 14 · Information technology

    total $6,013 · program services $1,058 · management and general $1,755 · fundraising $3,200

  • 16 · Occupancy

    total $30,140 · program services $27,398 · management and general $2,742

  • 20 · Interest

    total $21,759 · program services $21,759

  • 22 · Depreciation, depletion and amortization

    total $401,211 · program services $384,430 · management and general $16,781

  • 23 · Insurance

    total $48,927 · program services $45,250 · management and general $3,677

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $267,736 · program services $267,736

  • 24b · Other expenses: LANDSCAPING

    total $16,554 · program services $16,554

  • 24c · Other expenses: OTHER EXPENSES

    total $3,577 · program services $1,315 · management and general $2,262

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,223,954 · end of year $211,220

  • 2 · Savings and temporary cash investments

    beginning of year $751,070 · end of year $567,660

  • 4 · Accounts receivable

    beginning of year $2,029 · end of year $11,709

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,703 · end of year $10,774

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

    $30,232,690

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

    $4,816,643

  • 10c · Land, buildings and equipment, net

    beginning of year $17,175,655 · end of year $25,416,047

  • 11 · Investments: publicly traded securities

    end of year $514,712

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,237 · end of year $16,992

  • 23 · Secured mortgages and notes payable

    beginning of year $3,704,379 · end of year $9,047,804

  • 25 · Other liabilities

    beginning of year $9,102 · end of year $21,954

  • 27 · Net assets without donor restrictions

    beginning of year $13,761,458 · end of year $16,027,172

  • 28 · Net assets with donor restrictions

    beginning of year $1,674,235 · end of year $1,618,200

Mission and programs · 2022

Mission

PROVIDE SAFE, SANITARY, AND SUITABLE LIVING ACCOMMODATIONS FOR LOW, MODERATE, AND MIDDLE INCOME PERSONS WITHIN NANTUCKET COUNTY.

Activities or mission (Part I)

TO CREATE AND SUPPORT DIVERSE TYPES OF SAFE, SUITABLE, AND SANITARY LIVING ACCOMODATIONS FOR LOW, MODERATE AND MIDDLE INCOME YEAR-ROUND RESIDENTS OF NANUTUCKET COUNTY. THIS MISSION IS ACCOMPLISHED THROUGH RENTAL, HOMEOWNERSHIP, AND EDUCATIONAL PROGRAMMING.

  • THE AFFORDABLE RENTAL PROGRAM AND HOUSE RECYCLING PROGRAM - THE AFFORDABLE RENTAL PROGRAM IS A SCATTERED SITE PROGRAM OF 38 AFFORDABLE YEAR-ROUND RENTAL HOMES AVAILABLE TO LOW, MODERATE AND MIDDLE-INCOME NANTUCKET RESIDENTS. MOST OF THESE HOMES HAVE BEEN DEVELOPED THROUGH THE HOUSE RECYCLING PROGRAM, AND SOME WERE NEWLY CONSTRUCTED. HOUSE RECYCLING IS AN INNOVATIVE AND COST-EFFECTIVE PROGRAM WHERE PRIVATE INDIVIDUALS DONATE UNWANTED BUT STRUCTURALLY SOUND DWELLINGS TO HOUSING NANTUCKET (HN). HN RELOCATES BUILDINGS TO HN'S LAND, WHICH IS PERMANENTLY DEED-RESTRICTED FOR AFFORDABLE HOUSING PURPOSES. THEN HN REHABILITATES AND RENTS THE DWELLINGS AT AFFORDABLE RATES TO INCOME-QUALIFIED YEAR-ROUND NANTUCKET RESIDENTS. DWELLINGS RANGE FROM ONE-BEDROOM COTTAGES TO FOUR-BEDROOM HOMES. PROPERTIES ARE REGULARLY INSPECTED AND MAINTAINED TO ENSURE QUALITY LIVING ENVIRONMENTS FOR TENANTS.

    Expenses $951,875 · Revenue $720,276

  • THE NANTUCKET HOUSING NEEDS COVENANT PROGRAM - (THE COVENANT PROGRAM) CREATES SCATTERED SITE, MIDDLE INCOME HOME-OWNERSHIP OPPORTUNITIES. TO INCENTIVIZE THE INITIAL CREATION OF A COVENANT HOME, PRIVATE PROPERTY OWNERS ARE ALLOWED ZONING RELIEF WHICH ENABLES THEM TO SELL A PORTION OF THEIR LAND THAT IS OTHERWISE NOT SUB-DIVIDABLE. IN EXCHANGE, THE OWNERS RECORD A DEED RESTRICTION WHICH PERMANENTLY RESTRICTS OWNERSHIP TO QUALIFIED YEAR-ROUND ISLANDERS. COVENANT HOME PURCHASERS MUST BE YEAR-ROUND RESIDENTS EARNING LESS THAN 150% OF THE AREA MEDIAN INCOME. THE TRANSACTION PRICE OF A COVENANT HOME MUST BE BELOW THE MAXIMUM SALE PRICE, WHICH IS RESET ANNUALLY AND DETERMINED BY AN AFFORDABILITY FORMULA. COVENANT HOMEOWNERS ARE SUBJECT TO A RESIDENCY/OCCUPANCY REQUIREMENT AS WELL AS RESALE RESTRICTIONS.

    Expenses $62,425 · Revenue $51,479

  • HOUSING NANTUCKET'S EDUCATIONAL PROGRAMMING - INCLUDES FIRST TIME HOME-BUYER EDUCATION AND REBUILDING YOUR CREDIT CLASSES. THESE CLASSES ARE OFFERED THROUGH TRADITIONAL CLASSROOM LEARNING AS WELL AS THROUGH AN ONLINE PLATFORM.

    Expenses $11,896

  • RELOCATABLE DWELLING PROGRAM - WHEN HN CANNOT USE STRUCTURALLY SOUND DWELLINGS THAT ARE OFFERED TO THEM THROUGH THE HOUSE RECYCLING PROGRAM, HN WILL SELL THE DWELLING TO A THIRD PARTY WHO IS RESPONSIBLE FOR MOVING THE DWELLING VIA AN ASSIGNMENT OF HOUSING NANTUCKET'S RIGHT ON THE DONATED PROPERTY.

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

Listed in Part VII

  • Peter T Kaizer

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Stacy G Montes

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Paul A Wolf Jr

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Robert Liddle

    CLERK

    Total calculated
    $0
    Hours/week
    1

  • Bertyl V Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dobrimir Sultanov

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rose Marie Samuels

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Liliana Kovacevic

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eillen Taveras

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anne Kuszpa

    EXECUTIVE DIRECTOR

    Total calculated
    $141,928
    From this org
    $137,418
    From related orgs
    $0
    Other
    $4,510
    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.

Provenance

Return type
form_990
Tax year
2022
Filed
24 April 2024
IRS schema version
2022v5.0
Source object
202441159349300734

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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