Form 990 for tax year 2022
Filed by NECTAR COMMUNITY INVESTMENTS INC.
Totals
- Total revenue
- $8,158,806
- Total expenses
- $3,434,867
- Contributions and grants received
- $7,707,114
- Grants paid
- $118,000
- Program service revenue
- $443,823
- Investment income
- $3,509
- Other revenue
- $4,360
- Total assets, end of year
- $14,450,665
- Total liabilities, end of year
- $6,427,599
- Net assets or fund balances, end of year
- $8,023,066
- Program services expenses (Part IX)
- $2,433,025
- Management and general expenses
- $1,001,842
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,433,025
Program services were 70.8% 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.
-
1e · Government grants (contributions)
$95,800
-
1f · All other contributions, gifts and grants
$7,611,314
-
2a · Program service revenue: INTEREST INCOME ON NOTES RECE
total $285,823 · related or exempt $285,823
-
2b · Program service revenue: LOAN SERVICE FEES
total $158,000 · related or exempt $158,000
-
3 · Investment income
total $3,509 · excluded $3,509
-
11a · Other revenue: MISCELLANEOUS
total $4,360 · related or exempt $4,360
-
11e · Other revenue, total
$4,360
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $118,000 · program services $118,000
-
5 · Compensation of officers, directors and key employees
total $52,351 · management and general $52,351
-
7 · Other salaries and wages
total $575,584 · program services $466,214 · management and general $109,370
-
9 · Other employee benefits
total $90,544 · program services $72,645 · management and general $17,899
-
10 · Payroll taxes
total $66,024 · program services $49,518 · management and general $16,506
-
11b · Fees: legal
total $75,149 · program services $56,362 · management and general $18,787
-
11c · Fees: accounting
total $380,198 · management and general $380,198
-
11g · Fees: other
total $1,247,586 · program services $935,689 · management and general $311,897
-
12 · Advertising and promotion
total $91,076 · program services $68,307 · management and general $22,769
-
13 · Office expenses
total $166,844 · program services $125,133 · management and general $41,711
-
16 · Occupancy
total $35,295 · program services $26,471 · management and general $8,824
-
20 · Interest
total $57,351 · program services $43,013 · management and general $14,338
-
22 · Depreciation, depletion and amortization
total $3,134 · program services $2,351 · management and general $783
-
23 · Insurance
total $2,780 · program services $2,085 · management and general $695
-
24a · Other expenses: ALLOWANCE FOR LOAN LOSSES
total $410,920 · program services $410,920
-
24b · Other expenses: CHARGE OFF
total $39,172 · program services $39,172
-
24c · Other expenses: LOAN DOCUMENT FEES
total $22,143 · program services $16,608 · management and general $5,535
-
24d · Other expenses: MISCELLANEOUS
total $716 · program services $537 · management and general $179
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,169,809 · end of year $6,026,637
-
3 · Pledges and grants receivable
beginning of year $327,027 · end of year $1,671,824
-
7 · Other notes and loans receivable
beginning of year $4,463,502 · end of year $5,959,396
-
9 · Prepaid expenses and deferred charges
beginning of year $40,778 · end of year $129,743
-
10a · Land, buildings and equipment: cost or other basis
$21,936
-
10b · Land, buildings and equipment: accumulated depreciation
$21,266
-
10c · Land, buildings and equipment, net
beginning of year $3,804 · end of year $670
-
11 · Investments: publicly traded securities
beginning of year $9,366 · end of year $10,318
-
15 · Other assets
beginning of year $320,510 · end of year $652,077
-
17 · Accounts payable and accrued expenses
beginning of year $815,198 · end of year $849,693
-
19 · Deferred revenue
beginning of year $404,360 · end of year $12,000
-
21 · Escrow or custodial account liability
beginning of year $61,102 · end of year $54,438
-
24 · Unsecured notes and loans payable
beginning of year $3,718,533 · end of year $5,429,266
-
25 · Other liabilities
beginning of year $36,476 · end of year $82,202
-
27 · Net assets without donor restrictions
beginning of year $2,503,659 · end of year $5,766,543
-
28 · Net assets with donor restrictions
beginning of year $795,468 · end of year $2,256,523
Mission and programs · 2022
Mission
GROW THE ASSETS AND WEALTH OF HISTORICALLY DISINVESTED INDIVIDUALS AND THEIR COMMUNITIES BY PROVIDING A COMBINATION OF ROBUST ADVICE, RESOURCED NETWORKS AND CAPITAL IN THE MERRIMACK VALLEY AND ACROSS MASSACHUSETTS.
-
TO PROVIDE FINANCING AND/OR COLLABORATE WITH EXISTING LOANS TO PROVIDE FIRST OR SUBORDINATE MORTGAGE FINANCING TO CREDIT WORTHY BORROWERS AT A MODEST RATE FOR HOME ACQUISITION, REFINANCING, AND TO AVOID PRIVATE MORTGAGE INSURANCE. THE ORGANIZATION ALSO OFFERS LOANS AT TRADITIONAL FINANCIAL INSTITUTION RATES FOR SMALL BUSINESS STARTUPS, STABALIZATION, EXPANSION, AND JOB CREATION.
Expenses $2,433,025 · Grants $118,000 · Revenue $443,823
As filed on the 2022 return.
Listed in Part VII
-
Malia LazuMALIA LAZU
PRESIDENT
- Total calculated
- $0
- Hours/week
- 5
-
Yun-Ju ChoiYUN-JU CHOI
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 5
-
Abel VargasABEL VARGAS
CLERK
- Total calculated
- $0
- Hours/week
- 5
-
Kristen HarolKRISTEN HAROL
ASSISTANT CL
- Total calculated
- $0
- Hours/week
- 5
-
Lisa KozolLISA KOZOL
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Matthew HansonMATTHEW HANSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Abbott LawrenceABBOTT LAWRENCE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Quincy MillerQUINCY MILLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Nancy StagerNANCY STAGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Lisa TorissiLISA TORISSI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Orlando WatkinsORLANDO WATKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Michele WittsMICHELE WITTS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Arleen ZorrilaARLEEN ZORRILA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Glynn LloydGLYNN LLOYD
EXECUTIVE DI
- Total calculated
- $52,351
- From this org
- $46,035
- From related orgs
- $0
- Other
- $6,316
- 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
-
SMALL BLESSING CHILD CARE INC
$9,000
STABILIZATION
-
THIRD EYE BEAUTY ESTHETICS
$8,000
STABILIZATION
-
HUGO BOOKS INC
$6,000
STABILIZATION
-
PEACHBOX LLC
$6,000
STABILIZATION
-
SOUTHWICK SOCIAL VENTURES LTD
$6,000
STABILIZATION
-
THE PINK HOUSE BEAUTY NAILS
$6,000
STABILIZATION
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202343199349309294
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