Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $12,909

• 2a · Program service revenue: RENTAL INCOME

  total $10,495,716 · related or exempt $10,495,716

• 2b · Program service revenue: CONTRACTS AND GRANTS

  total $48,324 · related or exempt $48,324

• 2c · Program service revenue: UTILITY SURCHARGES

  total $17,624 · related or exempt $17,624

• 3 · Investment income

  total $42,875 · excluded $42,875

• 11a · Other revenue: VENDING

  total $41,261 · excluded $41,261

• 11b · Other revenue: MISCELLANEOUS INCOME

  total $1,757 · related or exempt $1,757

• 11e · Other revenue, total

  $43,018

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $2,334,356 · program services $2,334,356

• 9 · Other employee benefits

  total $289,537 · program services $289,537

• 10 · Payroll taxes

  total $201,756 · program services $201,756

• 11a · Fees: management

  total $120,000 · management and general $120,000

• 11b · Fees: legal

  total $20,573 · program services $20,573

• 11g · Fees: other

  total $134,808 · program services $134,808

• 12 · Advertising and promotion

  total $151 · program services $151

• 13 · Office expenses

  total $2,028 · program services $2,028

• 14 · Information technology

  total $92,878 · program services $92,878

• 16 · Occupancy

  total $5,141,920 · program services $5,141,920

• 17 · Travel

  total $23,717 · program services $23,717

• 20 · Interest

  total $2,365,490 · program services $2,365,490

• 22 · Depreciation, depletion and amortization

  total $3,689,384 · program services $3,689,384

• 23 · Insurance

  total $1,270,055 · program services $1,270,055

• 24a · Other expenses: SUPPLIES & FEES

  total $302,911 · program services $302,911

• 24b · Other expenses: CLIENT ASSISTANCE

  total $130,869 · program services $130,869

• 24c · Other expenses: TELEPHONE

  total $104,694 · program services $104,694

• 24d · Other expenses: EQUIPMENT

  total $3,314 · program services $3,314

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,589,892 · end of year $10,930,595

• 2 · Savings and temporary cash investments

  beginning of year $2,737,733 · end of year $2,808,892

• 4 · Accounts receivable

  beginning of year $2,723,494 · end of year $3,805,321

• 9 · Prepaid expenses and deferred charges

  beginning of year $50,000 · end of year $59,382

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

  $120,651,045

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

  $39,596,535

• 10c · Land, buildings and equipment, net

  beginning of year $82,983,064 · end of year $81,054,510

• 15 · Other assets

  beginning of year $0 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $1,783,643 · end of year $2,046,508

• 19 · Deferred revenue

  beginning of year $305,273 · end of year $272,228

• 23 · Secured mortgages and notes payable

  beginning of year $74,393,354 · end of year $72,895,257

• 25 · Other liabilities

  beginning of year $23,535,420 · end of year $33,946,189

• 27 · Net assets without donor restrictions

  beginning of year -$5,101,982 · end of year -$10,745,706

• 28 · Net assets with donor restrictions

  beginning of year $168,475 · end of year $244,224

The filer's explanations (Part III)

PART I, LINE 3

THE FILING ORGANIZATION'S EXECUTIVE DIRECTOR IS COMPENSATED BY SOUTH MIDDLESEX OPPORTUNITY COUNCIL, INC. ("SMOC"), A RELATED ORGANIZATION. SMOC USES THE FOLLOWING METHODS TO ESTABLISH THE EXECUTIVE DIRECTOR'S COMPENSATION: - COMPENSATION COMMITTEE - FORM 990 OF OTHER ORGNIZATIONS - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD

Disregarded entities

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

• FREEDOM VILLAGE

  LOW INCOME HOUSING · MA · income $390,651 · assets $5,542,856

  Directly controlled by SOUTH MIDDLESEX ON-PROFIT HOUSING CORPORATION INC