Skip to content
Nonprofiteer
← VILLA MECHELANGELO INC

Form 990 for tax year 2023

Filed by VILLA MECHELANGELO INC.

Totals

Total revenue
$1,018,624
Total expenses
$1,205,290
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,014,409
Investment income
$4,215
Other revenue
$0
Total assets, end of year
$4,553,716
Total liabilities, end of year
$7,730,286
Net assets or fund balances, end of year
-$3,176,570
Program services expenses (Part IX)
$932,467
Management and general expenses
$272,823
Fundraising expenses
$0
Program service expenses (Part III)
$932,467

Program services were 77.4% 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: RESIDENTIAL RENTAL REVENUE

    total $1,011,689 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: LAUNDRY INCOME

    total $2,573 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: TENANT CHARGES

    total $147 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $4,215 · unrelated business $0 · excluded $4,215

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $343,708 · program services $142,728 · management and general $200,980 · fundraising $0

  • 11b · Fees: legal

    total $4,358 · program services $0 · management and general $4,358 · fundraising $0

  • 11c · Fees: accounting

    total $25,094 · program services $0 · management and general $25,094 · fundraising $0

  • 13 · Office expenses

    total $36,586 · program services $0 · management and general $36,586 · fundraising $0

  • 16 · Occupancy

    total $316,981 · program services $316,981 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $308,937 · program services $308,937 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $78,386 · program services $78,386 · management and general $0 · fundraising $0

  • 24a · Other expenses: MISC FINANCIAL EXPENSES

    total $608 · program services $608 · management and general $0 · fundraising $0

  • 24b · Other expenses: BUILDING SUPPLIES

    total $13,372 · program services $13,372 · management and general $0 · fundraising $0

  • 24c · Other expenses: MISC ADMIN EXPENSES

    total $5,805 · program services $0 · management and general $5,805 · fundraising $0

  • 24d · Other expenses: MISC TAX, LICENSES AND PERMITS

    total $420 · program services $420 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $71,035 · program services $71,035 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,322 · end of year $9,867

  • 2 · Savings and temporary cash investments

    beginning of year $463,984 · end of year $462,466

  • 4 · Accounts receivable

    beginning of year $10,020 · end of year $10,836

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,104 · end of year $11,638

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

    $9,576,243

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

    $5,517,334

  • 10c · Land, buildings and equipment, net

    beginning of year $4,262,325 · end of year $4,058,909

  • 17 · Accounts payable and accrued expenses

    beginning of year $179,881 · end of year $162,570

  • 19 · Deferred revenue

    beginning of year $5,580 · end of year $7,691

  • 23 · Secured mortgages and notes payable

    beginning of year $7,530,100 · end of year $7,530,100

  • 25 · Other liabilities

    beginning of year $29,098 · end of year $29,925

  • 27 · Net assets without donor restrictions

    beginning of year -$2,989,904 · end of year -$3,176,570

Mission and programs · 2023

Mission

PROVIDES HOUSING TO LOW AND MODERATE INCOME ELDERLY

  • A COMPLEX OF 71 UNITS OF ELDERLY HOUSING LOCATED IN BOSTON, MASSACHUSETTS FOR LOW AND MODERATE INCOME ELDERLY, SUBJECT TO REGULATION BY HUD AS TO RENTAL CHARGES AND OPERATING METHODS.

    Expenses $932,467 · Revenue $1,014,409

As filed on the 2023 return.

Listed in Part VII

  • DIANNE VALKO

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JAMES LUISI

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • PETER SCOLARO

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • DANIEL WILSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BARBARA MALDERO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VICTOR BROGNA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ZOLLA FELDMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DIANE TANSO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALBERT J CALDARELLI

    FORMER PRESIDENT/EBCDC, INC

    Total calculated
    $319,829
    From this org
    $0
    From related orgs
    $301,878
    Other
    $17,951
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $224,992 related
    Bonus
    $0 + $76,886 related
    Other
    $0
    Deferred
    $0 + $12,075 related
    Nontaxable benefits
    $0 + $5,876 related
    Filer's total
    $0 + $319,829 related

  • SALVATORE COLOMBO

    CURRENT PRESIDENT/EBCDC, INC.

    Total calculated
    $315,776
    From this org
    $0
    From related orgs
    $297,436
    Other
    $18,340
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $196,536 related
    Bonus
    $0 + $100,900 related
    Other
    $0
    Deferred
    $0 + $11,897 related
    Nontaxable benefits
    $0 + $6,443 related
    Filer's total
    $0 + $315,776 related

  • ALBERT J FESTA

    CHIEF OPERATING OFFICER

    Total calculated
    $297,947
    From this org
    $0
    From related orgs
    $281,565
    Other
    $16,382
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $196,536 related
    Bonus
    $0 + $85,029 related
    Other
    $0
    Deferred
    $0 + $11,263 related
    Nontaxable benefits
    $0 + $5,119 related
    Filer's total
    $0 + $297,947 related

  • CYNTHIA FRONDUTO LOPEZ

    CHIEF FINANCIAL OFFICER

    Total calculated
    $244,600
    From this org
    $0
    From related orgs
    $217,889
    Other
    $26,711
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $157,257 related
    Bonus
    $0 + $60,632 related
    Other
    $0
    Deferred
    $0 + $8,716 related
    Nontaxable benefits
    $0 + $17,995 related
    Filer's total
    $0 + $244,600 related

  • TANYA HAHNEL

    DIR. OF REAL ESTATE

    Total calculated
    $146,586
    From this org
    $0
    From related orgs
    $132,741
    Other
    $13,845
    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.

Provenance

Return type
form_990
Tax year
2023
Filed
19 December 2024
IRS schema version
2023v6.0
Source object
202541779349301414

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.