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Nonprofiteer
← NORTH SQUARE GATEWAY TERRACE INC

Form 990 for tax year 2023

Filed by NORTH SQUARE GATEWAY TERRACE INC.

Totals

Total revenue
$213,886
Total expenses
$277,784
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$210,963
Investment income
$1,891
Other revenue
$1,032
Total assets, end of year
$1,196,060
Total liabilities, end of year
$1,995,255
Net assets or fund balances, end of year
-$799,195
Program services expenses (Part IX)
$233,714
Management and general expenses
$44,070
Fundraising expenses
$0
Program service expenses (Part III)
$233,714

Program services were 84.1% 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: HUD RENT SUBSIDIES

    total $176,456 · related or exempt $176,456

  • 2b · Program service revenue: RENT FROM TENANTS

    total $34,507 · related or exempt $34,507

  • 3 · Investment income

    total $1,891 · excluded $1,891

  • 11a · Other revenue: LAUNDRY AND VENDING

    total $1,032 · related or exempt $1,032

  • 11e · Other revenue, total

    $1,032

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $15,385 · program services $15,385

  • 10 · Payroll taxes

    total $1,417 · program services $1,417

  • 11a · Fees: management

    total $15,822 · management and general $15,822

  • 11g · Fees: other

    total $13,900 · management and general $13,900

  • 13 · Office expenses

    total $9,539 · management and general $9,539

  • 16 · Occupancy

    total $81,901 · program services $81,901

  • 20 · Interest

    total $90 · program services $90

  • 22 · Depreciation, depletion and amortization

    total $81,449 · program services $81,449

  • 23 · Insurance

    total $31,842 · program services $31,842

  • 24a · Other expenses: PROPERTY TAXES

    total $21,394 · program services $21,394 · management and general $0

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $1,039 · management and general $1,039

  • 24e · All other expenses

    total $4,006 · program services $236 · management and general $3,770

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,126 · end of year $3,553

  • 3 · Pledges and grants receivable

    beginning of year $3,184 · end of year $0

  • 4 · Accounts receivable

    beginning of year $135 · end of year $0

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

    $2,267,194

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

    $1,244,681

  • 10c · Land, buildings and equipment, net

    beginning of year $1,055,193 · end of year $1,022,513

  • 15 · Other assets

    beginning of year $184,056 · end of year $169,994

  • 17 · Accounts payable and accrued expenses

    beginning of year $106,208 · end of year $122,107

  • 25 · Other liabilities

    beginning of year $1,872,783 · end of year $1,873,148

  • 27 · Net assets without donor restrictions

    beginning of year -$735,297 · end of year -$799,195

Mission and programs · 2023

Mission

TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME FAMILIES.

  • HOUSING - PROVIDED AFFORDABLE HOUSING TO 14 LOW INCOME FAMILIES.

    Expenses $233,714 · Revenue $210,963

As filed on the 2023 return.

Listed in Part VII

  • Belinda Weaver

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joyce Kennedy Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Juanita Algarin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Maritza Rivera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melissa Green

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William Rybczsk

    PRESIDENT

    Total calculated
    $207,019
    From this org
    $0
    From related orgs
    $191,769
    Other
    $15,250
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $191,769 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $15,230 related
    Filer's total
    $0 + $206,999 related

  • Victor Lopez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Mark E Kovitch

    CFO

    Total calculated
    $156,854
    From this org
    $0
    From related orgs
    $133,032
    Other
    $23,822
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $133,032 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $23,822 related
    Filer's total
    $0 + $156,854 related

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 committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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.

  • NEW OPPORTUNITIES INC

    501(C)3 · TOIMPROVE LIVES OF ECONOMICALLY DISADVANTAGED INDIVIDUALS · CT

  • NEW OPPRTUNITIES ECONOMIC DEVELOPMETN CORP

    501(C)3 · ECONOMIC DEVELOPMENT · CT

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.

  • CAMELOT LIMITED PARTNERSHIP

    N/A · REAL ESTATE RENTAL · CT

Related corporations and trusts

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

  • CAMELOT CENTER INC

    C · REAL ESTATE RENTAL · CT

  • COMUNITY WIDE INVESTMENTS CORPORATION INC

    C · INACTIVE · CT

  • NORTH SQUARE GATEWAY DEVELOPMENT

    C · INACTIVE · CT

  • CT FOOD 4 THOUGHT INC

    C · INACTIVE - FINAL 2022 · CT

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202423179349304792

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