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← NORTH SHORE HERITAGE ASSOCIATES INC

Form 990 for tax year 2022

Filed by NORTH SHORE HERITAGE ASSOCIATES INC.

Totals

Total revenue
$1,597,017
Total expenses
$1,633,677
Contributions and grants received
$91,063
Grants paid
$0
Program service revenue
$1,503,939
Investment income
$1,661
Other revenue
$354
Total assets, end of year
$11,763,495
Total liabilities, end of year
$7,157,839
Net assets or fund balances, end of year
$4,605,656
Program services expenses (Part IX)
$1,598,414
Management and general expenses
$35,263
Fundraising expenses
$0
Program service expenses (Part III)
$1,598,414

Program services were 97.8% 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.

  • 1d · Related organizations

    $91,063

  • 2a · Program service revenue: RENTAL INCOME

    total $1,503,939 · related or exempt $1,503,939

  • 3 · Investment income

    total $1,661 · excluded $1,661

  • 11a · Other revenue: OTHER REVENUE

    total $354 · related or exempt $354

  • 11e · Other revenue, total

    $354

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $70,625 · program services $38,708 · management and general $31,917

  • 11c · Fees: accounting

    total $3,346 · management and general $3,346

  • 12 · Advertising and promotion

    total $221 · program services $221

  • 13 · Office expenses

    total $4,816 · program services $4,816

  • 16 · Occupancy

    total $800,602 · program services $800,602

  • 20 · Interest

    total $122,872 · program services $122,872

  • 22 · Depreciation, depletion and amortization

    total $389,181 · program services $389,181

  • 23 · Insurance

    total $81,151 · program services $81,151

  • 24a · Other expenses: OTHER

    total $120,135 · program services $120,135

  • 24b · Other expenses: EQUIPMENT AND MAINTENAN

    total $35,870 · program services $35,870

  • 24c · Other expenses: SUPPLIES

    total $4,858 · program services $4,858

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $115,604 · end of year $5,185

  • 2 · Savings and temporary cash investments

    beginning of year $313,117 · end of year $338,368

  • 4 · Accounts receivable

    beginning of year $25,206 · end of year $22,399

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,000

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

    $18,532,012

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

    $7,134,469

  • 10c · Land, buildings and equipment, net

    beginning of year $9,911,252 · end of year $11,397,543

  • 17 · Accounts payable and accrued expenses

    beginning of year $51,500 · end of year $185,238

  • 20 · Tax-exempt bond liabilities

    beginning of year $847,451

  • 23 · Secured mortgages and notes payable

    beginning of year $1,718,081 · end of year $2,502,528

  • 25 · Other liabilities

    beginning of year $3,109,831 · end of year $4,470,073

  • 27 · Net assets without donor restrictions

    beginning of year $4,642,316 · end of year $4,605,656

Mission and programs · 2022

Mission

NORTH SHORE HERITAGE ASSOCIATES, INC. IS A REAL ESTATE HOLDING COMPANY THAT MAINTAINS AND LEASES PROPERTY TO NORTHEAST ARC, INC. IN SUPPORT OF HOUSING PROGRAMS FOR PEOPLE WITH DEVELOPMENTAL DISABILITIES.

Activities or mission (Part I)

HOLD REAL ESTATE FOR NORTHEAST ARC, AN AFFILIATED 501(C)(3) ORGANIZATION.

  • REAL ESTATE - NORTH SHORE HERITAGE ASSOCIATES, INC. OWNS AND MANAGES REAL ESTATE WHICH IT HOLDS AND LEASES TO NORTHEAST ARC, INC., AN AFFILIATES 501(C)(3) ORGANIZATION, FOR THE PURPOSE OF HOUSING THEIR TAX EXEMPT PROGRAMS.

    Expenses $1,598,414 · Revenue $1,504,293

As filed on the 2022 return.

Listed in Part VII

  • JULIE CUMMINGS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • GEORGE HARRINGTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • SHARI MUNRO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • JO ANN SIMONS

    PRESIDENT/DIRECTOR

    Total calculated
    $634,799
    From this org
    $0
    From related orgs
    $425,154
    Other
    $209,645
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $356,661 related
    Bonus
    $0 + $67,500 related
    Other
    $0 + $993 related
    Deferred
    $0 + $178,050 related
    Nontaxable benefits
    $0 + $31,595 related
    Filer's total
    $0 + $634,799 related

  • CYNTHIA PARK

    TREASURER/DIRECTOR

    Total calculated
    $265,426
    From this org
    $0
    From related orgs
    $245,453
    Other
    $19,973
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $219,894 related
    Bonus
    $0 + $25,301 related
    Other
    $0 + $258 related
    Deferred
    $0 + $2,300 related
    Nontaxable benefits
    $0 + $17,673 related
    Filer's total
    $0 + $265,426 related

  • JOANNE PLOURDE

    CLERK/DIRECTOR

    Total calculated
    $196,936
    From this org
    $0
    From related orgs
    $182,205
    Other
    $14,731
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $163,106 related
    Bonus
    $0 + $18,703 related
    Other
    $0 + $396 related
    Deferred
    $0 + $1,700 related
    Nontaxable benefits
    $0 + $13,031 related
    Filer's total
    $0 + $196,936 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
THE CEO, CFO, AND COO ARE ALL COMPENSATED BY NORTHEAST ARC, INC., A RELATED ORGANIZATION.

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
16 February 2024
IRS schema version
2022v5.0
Source object
202430479349300038

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