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Nonprofiteer
← WORCESTER COMMUNITY HOUSING RESOURCES INC

Form 990 for tax year 2023

Filed by WORCESTER COMMUNITY HOUSING RESOURCES INC.

Totals

Total revenue
$4,245,225
Total expenses
$2,872,692
Contributions and grants received
$683,094
Grants paid
$0
Program service revenue
$3,556,023
Investment income
$6,108
Other revenue
$0
Total assets, end of year
$25,920,232
Total liabilities, end of year
$4,273,899
Net assets or fund balances, end of year
$21,646,333
Program services expenses (Part IX)
$2,728,196
Management and general expenses
$144,496
Fundraising expenses
$0
Program service expenses (Part III)
$2,728,196

Program services were 95.0% 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.

  • 1f · All other contributions, gifts and grants

    $683,094

  • 2a · Program service revenue: CAPITAL GRANT

    total $2,250,000 · related or exempt $2,250,000

  • 2b · Program service revenue: COMMUNITY LOAN FUND

    total $102,754 · related or exempt $102,754

  • 2c · Program service revenue: FEE INCOME

    total $81,519 · related or exempt $81,519

  • 2d · Program service revenue: RENTAL INCOME

    total $1,121,750 · related or exempt $1,121,750

  • 3 · Investment income

    total $6,108 · excluded $6,108

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $138,917 · program services $132,391 · management and general $6,526

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $594,331 · program services $558,497 · management and general $35,834

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $161,096 · program services $147,224 · management and general $13,872

  • 10 · Payroll taxes

    total $72,815 · program services $45,659 · management and general $27,156

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $12,891 · program services $8,673 · management and general $4,218

  • 11c · Fees: accounting

    total $33,000 · program services $29,700 · management and general $3,300

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $30,733 · program services $27,660 · management and general $3,073

  • 12 · Advertising and promotion

    total $26,534 · program services $23,532 · management and general $3,002

  • 13 · Office expenses

    total $57,365 · program services $45,123 · management and general $12,242

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $389,630 · program services $382,112 · management and general $7,518

  • 17 · Travel

    total $2,616 · program services $2,616

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $70,339 · program services $70,339

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $306,725 · program services $302,996 · management and general $3,729

  • 23 · Insurance

    total $118,634 · program services $103,269 · management and general $15,365

  • 24a · Other expenses: Repairs and Maintenance

    total $398,658 · program services $398,658

  • 24b · Other expenses: Rental Assistance

    total $287,838 · program services $287,838

  • 24c · Other expenses: Bad Debt

    total $132,499 · program services $132,499

  • 24d · Other expenses: Miscellaneous

    total $19,812 · program services $11,501 · management and general $8,311

  • 24e · All other expenses

    total $18,259 · program services $17,909 · management and general $350

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $507,148 · end of year $686,306

  • 2 · Savings and temporary cash investments

    beginning of year $9,630 · end of year $9,575

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $155,326 · end of year $371,067

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,288,411 · end of year $1,989,058

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $96,004 · end of year $117,220

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

    $8,678,875

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

    $4,008,903

  • 10c · Land, buildings and equipment, net

    beginning of year $4,857,178 · end of year $4,669,972

  • 11 · Investments: publicly traded securities

    beginning of year $109,439 · end of year $114,777

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $17,244,472 · end of year $17,962,257

  • 17 · Accounts payable and accrued expenses

    beginning of year $122,842 · end of year $178,911

  • 23 · Secured mortgages and notes payable

    beginning of year $3,083,054 · end of year $3,410,108

  • 25 · Other liabilities

    beginning of year $787,912 · end of year $684,880

  • 27 · Net assets without donor restrictions

    beginning of year $18,685,731 · end of year $21,078,075

  • 28 · Net assets with donor restrictions

    beginning of year $1,588,069 · end of year $568,258

Mission and programs · 2023

Mission

Worcester Community Housing Resources' mission is to help create and preserve affordable housing and to initiate and support neighborhood revitalization in the greater Worcester area. Since 1994 we have proven ourselves to be a successful organization that meets its mission by development of our own projects and utilizing our Loan Fund to help meet the financial needs of other affordable housing developers. Our services are targeted to low and moderate income individuals in the great Worcester area.

Activities or mission (Part I)

Our mission is to help create and preserve affordable housing and to initiate and support neighborhood revitalization in the greater Worcester area.

  • TO PROVIDE HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES AND TO LOCATE, PURCHASE, RENOVATE AND RESELL NEGLECTED PROPERTIES IN LOW INCOME NEIGHBORHOODS

    Expenses $2,728,196 · Revenue $3,556,023

As filed on the 2023 return.

Listed in Part VII

  • Jennifer Schanck-Bolwell

    EXECUTIVE DIRECTOR

    Total calculated
    $168,329
    From this org
    $138,917
    From related orgs
    $0
    Other
    $29,412
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $138,917
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $29,412
    Filer's total
    $168,329

  • Andrew Howarth

    DIRECTOR OF DEVEL.

    Total calculated
    $144,375
    From this org
    $119,448
    From related orgs
    $0
    Other
    $24,927
    Hours/week
    37.5

  • Jennifer Gaskin

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Rutkauski Marble

    Director

    Total calculated
    $0
    Hours/week
    1

  • James Hayes

    President

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Sanning

    Vice President

    Total calculated
    $0
    Hours/week
    1

  • Lydia Vazquez

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael Jacobs

    Director

    Total calculated
    $0
    Hours/week
    1

  • Caleb Cook

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kenneith Mudie

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jane Loranger

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Keith Nisbet

    Director

    Total calculated
    $0
    Hours/week
    1

  • Adi Tibrewal

    Director

    Total calculated
    $0
    Hours/week
    1

  • Indrek Buttner

    Director

    Total calculated
    $0
    Hours/week
    1

  • Susan Isabelle

    Director

    Total calculated
    $0
    Hours/week
    1

  • George Cox

    Director

    Total calculated
    $0
    Hours/week
    1

  • Arlette M Lynch

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael Comiskey

    Secretary

    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. 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 · 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.

  • HW3 HOUSING ASSOCIATES LP

    REAL ESTATE DEVELOPMENT LOW INCOME · MA · 0.1% owned

  • HW3 MT LLC

    REAL ESTATE RENTAL LOW INCOME · MA · general or managing partner

    Directly controlled by HW3 HOUSING INC

  • ORIOL HOUSING ASSOCIATES LLC

    REAL ESTATE RENTAL LOW INCOME · MA · 100% owned

    Directly controlled by WCHR

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HW3 HOUSING INC

    C CORP · REAL ESTATE MANAGEMENT LOW INCOME · MA · 99.99% owned

    Directly controlled by WCHR

Provenance

Return type
form_990
Tax year
2023
Filed
2 July 2024
IRS schema version
2023v5.1
Source object
202441849349300109

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