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Nonprofiteer
← TENANTS DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by TENANTS DEVELOPMENT CORPORATION.

Totals

Total revenue
$2,888,263
Total expenses
$1,725,808
Contributions and grants received
$280
Grants paid
$0
Program service revenue
$2,866,353
Investment income
$50
Other revenue
$21,580
Total assets, end of year
$31,599,304
Total liabilities, end of year
$2,322,852
Net assets or fund balances, end of year
$29,276,452
Program services expenses (Part IX)
$1,464,323
Management and general expenses
$261,485
Fundraising expenses
$0
Program service expenses (Part III)
$1,464,323

Program services were 84.8% 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.

  • 1f · All other contributions, gifts and grants

    $280

  • 2a · Program service revenue: RENTAL INCOME

    total $1,187,152 · related or exempt $1,187,152

  • 2b · Program service revenue: MANAGEMENT FEE

    total $1,051,670 · related or exempt $1,051,670

  • 2c · Program service revenue: CONTRACT INCOME

    total $325,236 · related or exempt $325,236

  • 2d · Program service revenue: PROGRAM INVESTMENTS

    total $302,295 · related or exempt $302,295

  • 3 · Investment income

    total $50 · excluded $50

  • 11a · Other revenue: MISCELLANEOUS

    total $21,580 · related or exempt $21,580

  • 11e · Other revenue, total

    $21,580

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $370,932 · program services $315,292 · management and general $55,640

  • 7 · Other salaries and wages

    total $411,362 · program services $411,362

  • 9 · Other employee benefits

    total $43,754 · program services $43,754

  • 10 · Payroll taxes

    total $55,974 · program services $52,439 · management and general $3,535

  • 11b · Fees: legal

    total $6,075 · program services $6,075

  • 11c · Fees: accounting

    total $25,626 · management and general $25,626

  • 11g · Fees: other

    total $9,743 · program services $9,743

  • 13 · Office expenses

    total $16,236 · program services $1,731 · management and general $14,505

  • 16 · Occupancy

    total $189,625 · program services $67,516 · management and general $122,109

  • 20 · Interest

    total $10,266 · program services $10,266

  • 22 · Depreciation, depletion and amortization

    total $66,041 · program services $25,971 · management and general $40,070

  • 23 · Insurance

    total $110,066 · program services $110,066

  • 24a · Other expenses: PROGRAM COSTS

    total $410,108 · program services $410,108

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,354,511 · end of year $1,845,904

  • 2 · Savings and temporary cash investments

    beginning of year $1,512,955 · end of year $1,866,530

  • 4 · Accounts receivable

    end of year $29,303

  • 5 · Loans and receivables from officers and key people

    beginning of year $34,269 · end of year $17,708

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,538 · end of year $2,103

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

    $5,234,186

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

    $732,313

  • 10c · Land, buildings and equipment, net

    beginning of year $4,565,679 · end of year $4,501,873

  • 11 · Investments: publicly traded securities

    beginning of year $501,390 · end of year $501,390

  • 13 · Investments: program-related

    beginning of year $5,896,064 · end of year $6,434,014

  • 15 · Other assets

    beginning of year $16,582,208 · end of year $16,400,479

  • 17 · Accounts payable and accrued expenses

    beginning of year $273,600 · end of year $280,602

  • 19 · Deferred revenue

    beginning of year $3,603 · end of year $12,687

  • 24 · Unsecured notes and loans payable

    beginning of year $441,972 · end of year $948,133

  • 25 · Other liabilities

    beginning of year $1,081,428 · end of year $1,081,430

  • 27 · Net assets without donor restrictions

    beginning of year $28,648,011 · end of year $29,276,452

Mission and programs · 2023

Mission

THE PROMOTION, MAINTENANCE AND MANAGEMENT OF HOUSING IN THE SOUTH END OF BOSTON, MASSACHUSETTS, TO LOW AND MODERATE-INCOME FAMILIES OF EVERY RACE, RELIGION, AND NATIONALITY.

Activities or mission (Part I)

TO PROVIDE HOUSING TO LOW AND MODERATE INCOME RESIDENTS OF BOSTON, MA.

  • AFFORDABLE HOUING - MANAGED THREE DEVELOPMENTS WITH OVER 100 UNITS FOR LOW AND MODERATE INCOME FAMILIES.

    Expenses $1,464,323 · Revenue $2,887,933

As filed on the 2023 return.

Listed in Part VII

  • Donald Ward

    EXECUTIVE DI

    Total calculated
    $231,702
    From this org
    $222,323
    From related orgs
    $0
    Other
    $9,379
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,323
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $9,379
    Filer's total
    $231,702

  • Anita Huggins

    ASSET MANAGE

    Total calculated
    $139,436
    From this org
    $138,595
    From related orgs
    $0
    Other
    $841
    Hours/week
    40

  • Jeanetta Williams

    TREASURER/ S

    Total calculated
    $139,230
    From this org
    $129,939
    From related orgs
    $0
    Other
    $9,291
    Hours/week
    40

  • Yamari Figueroa

    PROPERTY MAN

    Total calculated
    $120,876
    From this org
    $103,710
    From related orgs
    $0
    Other
    $17,166
    Hours/week
    40

  • David Guiterrez

    MAINTENANCE

    Total calculated
    $120,876
    From this org
    $103,710
    From related orgs
    $0
    Other
    $17,166
    Hours/week
    40

  • Mary Clinkscales

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Elyria Creecy

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    4

  • Michael Davis

    ASSISTANT TR

    Total calculated
    $0
    Hours/week
    4

  • Louise Douglas

    CLERK

    Total calculated
    $0
    Hours/week
    4

  • Keith Gordon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Jacqueline Hill

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Lee Holloway

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Ollie Mathis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Florence Potter

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Sylvia Ray

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Gloria Reyes

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Linda Roberts

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Doreen Wiggins

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

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

  • ML586 MASS AVENUE LLC

    REAL ESTAT · MA · income $168,005 · assets $1,414,606

    Directly controlled by TDC

Provenance

Return type
form_990
Tax year
2023
Filed
8 October 2024
IRS schema version
2023v5.0
Source object
202432849349300823

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