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Nonprofiteer
← FAMILY NURTURING SUPPORT CORPORATION

Form 990 for tax year 2023

Filed by FAMILY NURTURING SUPPORT CORPORATION.

Totals

Total revenue
$137,000
Total expenses
$343,594
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$137,000
Investment income
$0
Other revenue
$0
Total assets, end of year
$5,223,855
Total liabilities, end of year
$5,664,869
Net assets or fund balances, end of year
-$441,014
Program services expenses (Part IX)
$270,006
Management and general expenses
$34,008
Fundraising expenses
$39,580
Program service expenses (Part III)
$270,006

Program services were 78.6% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $137,000 · related or exempt $137,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $12,385 · management and general $12,385

  • 13 · Office expenses

    total $520 · management and general $520

  • 16 · Occupancy

    total $146,282 · program services $119,439 · management and general $9,335 · fundraising $17,508

  • 22 · Depreciation, depletion and amortization

    total $184,407 · program services $150,567 · management and general $11,768 · fundraising $22,072

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $74,732 · end of year $87,186

  • 4 · Accounts receivable

    beginning of year $688

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

    $5,959,828

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

    $823,159

  • 10c · Land, buildings and equipment, net

    beginning of year $5,321,076 · end of year $5,136,669

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,495 · end of year $12,905

  • 23 · Secured mortgages and notes payable

    beginning of year $5,618,421 · end of year $5,651,964

  • 27 · Net assets without donor restrictions

    beginning of year -$234,420 · end of year -$441,014

Mission and programs · 2023

Mission

TO SUPPORT FAMILY NURTURING CENTER OF MASSACHUSETTS BY FINANCING AND REDEVELOPING ITS FACILITY AND LEASE IT BACK TO FNC, AND TO SUPPORT FNC IN ANY OTHER ALLOWABLE MANNER.

Activities or mission (Part I)

TO OWN AND LEASE REAL ESTATE TO FAMILY NURTURING CENTER OF MASSACHUSETTS, INC.

  • FNSC WAS CREATED FOR THE SPECIFIC PURPOSE OF REDEVELOPING THE PROPERTY LOCATED AT 200 BOWDOIN STREET IN DORCHESTER, MASSACHUSETTS (THE "PROPERTY") INTO A 12,800 SQUARE FOOT BUILDING (THE "PROJECT") THROUGH A NEW MARKETS TAX CREDIT ("NMTC") FINANCING ARRANGEMENT UNDER SECTION 45D OF THE IRC, AS AMENDED. ON SEPTEMBER 21, 2018, FNC SOLD THE PROPERTY TO FNSC IN CONJUNCTION WITH THE CLOSING OF THE NMTC TRANSACTION. UPON CONSTRUCTION COMPLETION, IN JANUARY 2020 FNC LEASED BACK THE PROPERTY.

    Expenses $270,006 · Revenue $137,000

As filed on the 2023 return.

Listed in Part VII

  • TARAN GRISBY

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • KARLA WALLACE

    TREASURER/CLERK

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • WAYNE L WORKMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SAMUEL B KNIGHT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT L PEABODY

    DIRECTOR

    Total calculated
    $0
    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.

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
2023
Filed
29 October 2024
IRS schema version
2023v5.1
Source object
202413039349302511

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