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Nonprofiteer
← ST MARGARETS HOUSE HOUSING DEVELOPMENT FUND CORPORATION

Form 990 for tax year 2024

Filed by ST MARGARETS HOUSE HOUSING DEVELOPMENT FUND CORPORATION.

Totals

Total revenue
$12,153,533
Total expenses
$10,633,760
Contributions and grants received
$2,075
Grants paid
$0
Program service revenue
$11,571,519
Investment income
$572,507
Other revenue
$7,432
Total assets, end of year
$32,145,578
Total liabilities, end of year
$63,844,249
Net assets or fund balances, end of year
-$31,698,671
Program services expenses (Part IX)
$9,502,776
Management and general expenses
$1,130,984
Fundraising expenses
$0
Program service expenses (Part III)
$9,502,776

Program services were 89.4% 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.

  • 1f · All other contributions, gifts and grants

    $2,075

  • 2a · Program service revenue: RENTAL REVENUE

    total $11,571,519 · related or exempt $11,571,519

  • 3 · Investment income

    total $552,091 · excluded $552,091

  • 7a · Gross sales of assets other than inventory

    securities $10,845,375

  • 7b · Less cost or other basis and sales expenses

    securities $10,824,959

  • 7c · Gain or loss

    securities $20,416

  • 7d · Net gain or loss

    total $20,416 · excluded $20,416

  • 11a · Other revenue: LAUNDRY/TENANT ASSISTANCE

    total $7,432 · excluded $7,432

  • 11e · Other revenue, total

    $7,432

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $401,313 · management and general $401,313

  • 6 · Compensation of disqualified persons

    total $300 · program services $300

  • 7 · Other salaries and wages

    total $575,637 · program services $495,905 · management and general $79,732

  • 8 · Pension plan contributions

    total $48,522 · program services $39,819 · management and general $8,703

  • 9 · Other employee benefits

    total $172,370 · program services $139,413 · management and general $32,957

  • 10 · Payroll taxes

    total $66,967 · program services $37,777 · management and general $29,190

  • 11b · Fees: legal

    total $4,420 · management and general $4,420

  • 11c · Fees: accounting

    total $11,495 · management and general $11,495

  • 11g · Fees: other

    total $623,727 · program services $574,974 · management and general $48,753

  • 13 · Office expenses

    total $56,438 · program services $24,398 · management and general $32,040

  • 16 · Occupancy

    total $6,949,166 · program services $6,602,672 · management and general $346,494

  • 19 · Conferences, conventions and meetings

    total $15,555 · program services $5,941 · management and general $9,614

  • 22 · Depreciation, depletion and amortization

    total $861,556 · program services $820,991 · management and general $40,565

  • 23 · Insurance

    total $200,766 · program services $140,536 · management and general $60,230

  • 24a · Other expenses: BUILDING MAINTENANCE

    total $473,235 · program services $473,235

  • 24b · Other expenses: STAFF APARTMENTS RENT

    total $120,840 · program services $120,840

  • 24c · Other expenses: DUES & MEMBERSHIP

    total $10,496 · program services $330 · management and general $10,166

  • 24d · Other expenses: VIOLATION FEES

    total $844 · program services $844

  • 24e · All other expenses

    total $40,113 · program services $24,801 · management and general $15,312

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $671,974 · end of year $1,203,129

  • 2 · Savings and temporary cash investments

    beginning of year $5,435,325 · end of year $9,941,825

  • 4 · Accounts receivable

    beginning of year $35,540 · end of year $5,007

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,236,694 · end of year $1,279,633

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

    $38,708,492

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

    $22,493,744

  • 10c · Land, buildings and equipment, net

    beginning of year $15,125,668 · end of year $16,214,748

  • 11 · Investments: publicly traded securities

    beginning of year $1,024,360 · end of year $1,159,978

  • 15 · Other assets

    beginning of year $7,535,963 · end of year $2,341,258

  • 17 · Accounts payable and accrued expenses

    beginning of year $772,083 · end of year $851,897

  • 19 · Deferred revenue

    beginning of year $350 · end of year $3,957

  • 21 · Escrow or custodial account liability

    beginning of year $77,417 · end of year $77,972

  • 23 · Secured mortgages and notes payable

    beginning of year $63,558,763 · end of year $62,910,423

  • 27 · Net assets without donor restrictions

    beginning of year -$34,367,449 · end of year -$32,858,672

  • 28 · Net assets with donor restrictions

    beginning of year $1,024,360 · end of year $1,160,001

Mission and programs · 2024

Mission

ST. MARGARET'S HOUSE HOUSING DEVELOPMENT FUND CORPORATION (SMH) PROVIDES HOUSING FOR LOW-INCOME OLDER ADULTS AND MOBILITY IMPAIRED DISABLED PERSONS. OUR FACILITY CONSISTS OF A TWENTY STORY RESIDENTIAL BUILDING WITH 251 APARTMENTS, ALONG WITH TWO WINGS FOR TENANT/COMMUNITY EVENTS AND PROGRAMS. SMH TAKES PRIDE IN BEING AN ACTIVE AND POSITIVE COMMUNITY LEADER, SERVING AS A ROLE MODEL THAT BENEFITS OUR RESIDENTS, STAFF, AND THE BROADER COMMUNITY. THE HIGHLIGHTS OF OUR ACTIVITIES INCLUDE EDUCATIONAL EVENTS, RECREATION ACTIVITIES, BEING A GOOD NEIGHBOR BY BEING A COMMUNITY DESTINATION, AND HOSTING CULTURAL CELEBRATIONS. IN THE PAST YEAR, SMH CONTINUED TO MAKE A POSITIVE AND SIGNIFICANT IMPACT ON THE TENTANTS AND THE WIDER COMMUNITY WHILE MAINTAINING A STRONG FINANCIAL POSITION.

Activities or mission (Part I)

PROVIDES HOUSING SERVICES TO LOW INCOME OLDER ADULTS AND DISABLED PERSONS WITH MOBILITY IMPAIRMENTS.

  • THE ORGANIZATION OPERATES LOW INCOME HOUSING FOR OLDER ADULTS AND DISABLED PERSONS WITH MOBILITIY IMPAIRMENTS UNDER THE U.S. DEPARTMENRT OF HOUSING AND URBAN DVELOPMENT SECTION 8 PROGRAM. DURING 2024, SMH PROVIDED HOUSING TO APPROXIMATELY 330 TENANTS.

    Expenses $9,502,776 · Revenue $11,571,519

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Peter D Barbey

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Patricia Graue

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Tim F Wray

    BOARD MEMBER (UNTIL 4/2/24)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sharon Hardy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • David Humphreville

    BOARD MEMBER (UNTIL 4/2/24)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Christian B Hylton

    BOARD MEMBER (UNTIL 4/2/24)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Susan K Jansen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Christopher Mann

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Lynne Jordal Martin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Martez R Moore

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Joel Motley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Hilary Pennington

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Gayle Robinson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Nathaniel F Rogers

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • T Dennis Sullivan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Gabrielle Sulzberger

    BOARD MEMBER (UNTIL 4/2/24)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John G Talty

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Susan Ward

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • William Wright II

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Susan H Hewitt

    PRESIDENT (UNTIL 4/2/24)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Matthew Knisely Pres From

    4/10/24) VP/SEC,TREAS (UNTIL 4/9/24)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Susan Hinkson-Carling

    VP & TREASURER (FROM 4/10/24)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Claire Guerette

    EXECUTIVE DIRECTOR

    Total calculated
    $253,101
    From this org
    $199,632
    From related orgs
    $0
    Other
    $53,469
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,444
    Bonus
    $0
    Other
    $1,188
    Deferred
    $20,034
    Nontaxable benefits
    $33,435
    Filer's total
    $253,101

  • Ezra Ebanks

    CONTROLLER

    Total calculated
    $143,727
    From this org
    $118,137
    From related orgs
    $0
    Other
    $25,590
    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. 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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 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.

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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • HUDSON SQUARE PROPERTIES LLC

    REAL ESTATE I · DE

  • 375 HSP LLC

    REAL ESTATE I · DE

Provenance

Return type
form_990
Tax year
2024
Filed
15 October 2025
IRS schema version
2024v5.2
Source object
202512899349301416

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