Totals
- Total revenue
- $2,554,032
- Total expenses
- $1,873,133
- Contributions and grants received
- $351,738
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $97,884
- Other revenue
- $2,104,410
- Total assets, end of year
- $29,101,025
- Total liabilities, end of year
- $17,843,896
- Net assets or fund balances, end of year
- $11,257,129
- Program services expenses (Part IX)
- $1,873,133
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,873,133
Program services were 100.0% 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
$0
-
1b · Membership dues
$0
-
1c · Fundraising events
$0
-
1d · Related organizations
$0
-
1e · Government grants (contributions)
$0
-
1f · All other contributions, gifts and grants
$351,738
-
1g · Noncash contributions included above
$0
-
3 · Investment income
total $97,884 · related or exempt $0 · unrelated business $0 · excluded $97,884
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6a · Gross rents
real property $1,330,718 · personal property $0
-
6b · Less rental expenses
real property $0 · personal property $0
-
6c · Rental income or loss
real property $1,330,718 · personal property $0
-
6d · Net rental income or loss
total $1,330,718 · related or exempt $1,330,718 · unrelated business $0 · excluded $0
-
7c · Gain or loss
securities $0 · other assets $0
-
8a · Fundraising events: contributions included on line 1c
$0
-
11a · Other revenue: Developer Fees
total $773,692 · related or exempt $773,692 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$773,692
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $256,719 · program services $256,719
-
10 · Payroll taxes
total $130,175 · program services $130,175
-
11b · Fees: legal
total $20,308 · program services $20,308
-
11c · Fees: accounting
total $2,607 · program services $2,607
-
11g · Fees: other
total $27,123 · program services $27,123
-
13 · Office expenses
total $27,136 · program services $27,136
-
16 · Occupancy
total $351,738 · program services $351,738
-
20 · Interest
total $422,963 · program services $422,963
-
22 · Depreciation, depletion and amortization
total $448,209 · program services $448,209
-
23 · Insurance
total $68,049 · program services $68,049
-
24a · Other expenses: Community Relations and Client Support
total $118,106 · program services $118,106 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $396,069 · end of year $1,175,373
-
4 · Accounts receivable
beginning of year $47,953 · end of year $51,121
-
7 · Other notes and loans receivable
end of year $9,889,143
-
9 · Prepaid expenses and deferred charges
beginning of year $7,918 · end of year $14,452
-
10a · Land, buildings and equipment: cost or other basis
$19,512,105
-
10b · Land, buildings and equipment: accumulated depreciation
$1,541,169
-
10c · Land, buildings and equipment, net
beginning of year $18,419,145 · end of year $17,970,936
-
17 · Accounts payable and accrued expenses
beginning of year $130,569 · end of year $42,636
-
23 · Secured mortgages and notes payable
beginning of year $15,885,129 · end of year $15,601,459
-
25 · Other liabilities
beginning of year $2,168,300 · end of year $2,199,801
-
27 · Net assets without donor restrictions
beginning of year $687,087 · end of year $11,257,129
-
28 · Net assets with donor restrictions
beginning of year $0 · end of year $0
Mission and programs · 2024
Mission
Building Futures, Inc. provides safe, affordable, and quality housing opportunities in Worcester, MA for low-income individuals and families. It aims to transform the lives of public housing or rent subsidized residents with no cost to affordable programs that provide educational, training, and employment skills necessary to achieve social and economic self-sufficiency.
Activities or mission (Part I)
To provide safe, affordable, and quality housing opportunities in Worcester, MA for low-income individuals and families and transform the lives of public housing or rent subsidized residents with no cost to affordable programs that provide educational, training, and employment skills.
-
Educational, training, and employment assistance for low-income individuals and families.
Expenses $1,873,133 · Revenue $2,554,032
As filed on the 2024 return.
Listed in Part VII
-
Alex Corrales
WHA CEO
- Total calculated
- $415,725
- From this org
- $0
- From related orgs
- $271,184
- Other
- $144,541
- Hours/week
- 0 + 37 related
Schedule J breakdown matched by us
- Base
- $0 + $271,184 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $86,725 related
- Nontaxable benefits
- $0 + $57,816 related
- Filer's total
- $0 + $415,725 related
-
Peter Proulx
WHA Assistant CEO
- Total calculated
- $339,449
- From this org
- $0
- From related orgs
- $221,428
- Other
- $118,021
- Hours/week
- 0 + 37 related
Schedule J breakdown matched by us
- Base
- $0 + $221,428 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $70,812 related
- Nontaxable benefits
- $0 + $47,209 related
- Filer's total
- $0 + $339,449 related
-
Peter Fifield
WHA CFO
- Total calculated
- $263,069
- From this org
- $0
- From related orgs
- $171,604
- Other
- $91,465
- Hours/week
- 0 + 37 related
Schedule J breakdown matched by us
- Base
- $0 + $171,604 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $54,879 related
- Nontaxable benefits
- $0 + $36,586 related
- Filer's total
- $0 + $263,069 related
-
Esteban Alvarez
Chief Facilities Officer
- Total calculated
- $256,031
- From this org
- $0
- From related orgs
- $167,013
- Other
- $89,018
- Hours/week
- 0 + 37 related
Schedule J breakdown matched by us
- Base
- $0 + $167,013 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $53,411 related
- Nontaxable benefits
- $0 + $35,607 related
- Filer's total
- $0 + $256,031 related
-
Michael Murphy
Director of Administration
- Total calculated
- $240,207
- From this org
- $0
- From related orgs
- $156,691
- Other
- $83,516
- Hours/week
- 0 + 37 related
Schedule J breakdown matched by us
- Base
- $0 + $156,691 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $50,109 related
- Nontaxable benefits
- $0 + $33,407 related
- Filer's total
- $0 + $240,207 related
-
Joseph Carlson
Chairman
- Total calculated
- $8,420
- From this org
- $0
- From related orgs
- $8,300
- Other
- $120
- Hours/week
- 1
-
Joseph Capone
Vice Chairman
- Total calculated
- $8,116
- From this org
- $0
- From related orgs
- $8,000
- Other
- $116
- Hours/week
- 1
-
Jose Ramos
Treasurer
- Total calculated
- $8,116
- From this org
- $0
- From related orgs
- $8,000
- Other
- $116
- Hours/week
- 1
-
William Eddy
Clerk/Secretary
- Total calculated
- $8,116
- From this org
- $0
- From related orgs
- $8,000
- Other
- $116
- Hours/week
- 1
-
Rane Bracey-Westbrook
Director
- Total calculated
- $8,116
- From this org
- $0
- From related orgs
- $8,000
- Other
- $116
- Hours/week
- 1
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
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.
-
Worcester Housing Authority
Public Housing · MA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 16 February 2026
- IRS schema version
- 2024v5.0
- Source object
- 202600479349301960
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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