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← NWGM TITLE HOLDING COMPANY LLC

Form 990 for tax year 2022

Filed by NWGM TITLE HOLDING COMPANY LLC.

Totals

Total revenue
$176,226
Total expenses
$244,656
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$176,226
Investment income
$0
Other revenue
$0
Total assets, end of year
$2,280,191
Total liabilities, end of year
$2,381,332
Net assets or fund balances, end of year
-$101,141
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$244,656

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 $172,917 · related or exempt $172,917

  • 2b · Program service revenue: Misc. Revenue

    total $3,309 · related or exempt $3,309

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $25,116

  • 11c · Fees: accounting

    total $8,800

  • 12 · Advertising and promotion

    total $1

  • 13 · Office expenses

    total $710

  • 16 · Occupancy

    total $118,136

  • 22 · Depreciation, depletion and amortization

    total $78,282

  • 23 · Insurance

    total $4,392

  • 24a · Other expenses: Bad Debt

    total $8,831

  • 24b · Other expenses: Other Administration

    total $266

  • 24c · Other expenses: Annual Filing Fees

    total $100

  • 24d · Other expenses: Dues & Subscriptions

    total $22

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $217,389 · end of year $194,628

  • 4 · Accounts receivable

    beginning of year $4,106 · end of year $7,441

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,676 · end of year $5,585

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

    $2,404,421

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

    $370,448

  • 10c · Land, buildings and equipment, net

    beginning of year $2,103,410 · end of year $2,033,973

  • 15 · Other assets

    beginning of year $42,618 · end of year $38,564

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,844 · end of year $12,598

  • 23 · Secured mortgages and notes payable

    beginning of year $1,947,678 · end of year $1,929,345

  • 25 · Other liabilities

    beginning of year $439,388 · end of year $439,389

  • 27 · Net assets without donor restrictions

    beginning of year -$32,711 · end of year -$101,141

Mission and programs · 2022

Mission

NWGM Title Holding Company, LLC was formed to hold title to property of which the holding of this property will support the mission of NeighborWorks Southern New Hampshire which is to enhance lives and the community environment by providing access to quality housing services, revitalizing neighborhoods and supporting opportunities for personal empowerment.

Activities or mission (Part I)

Title holding company for low income housing.

  • NWGM Title Holding Company, Inc. acquires properties and either rehabs and sells the properties or holds the properties as rental units in targeted neighborhoods. The rental properties are offered at below market rates to assist low and moderate income individuals and families. The for-sale properties are completely rehabbed to ensure compliance with current building and safety codes and to provide a save and clean home at an affordable price to potential buyers. The goal is to secure properties in close proximity to each other in order to make the greatest impact on a neighborhood.

    Expenses $244,656 · Revenue $176,226

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Robert Tourigny

    President

    Total calculated
    $170,904
    From this org
    $0
    From related orgs
    $153,937
    Other
    $16,967
    Hours/week
    4 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $153,937 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,616 related
    Nontaxable benefits
    $0 + $9,351 related
    Filer's total
    $0 + $170,904 related

  • Jennifer Vadney

    Secretary

    Total calculated
    $110,369
    From this org
    $0
    From related orgs
    $93,881
    Other
    $16,488
    Hours/week
    4 + 41 related

  • Diane Brewster

    Treasurer

    Total calculated
    $110,970
    From this org
    $0
    From related orgs
    $91,981
    Other
    $18,989
    Hours/week
    4 + 41 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Line 3
Robert Tourigny, President, is compensated by Manchester Neighborhood Housing Services, Inc., a related organization. During calendar year 2022 his total reportable compensation was $170,904.

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.

  • Casimir Place Limited Partnership

    Rental · Rental Activity · NH

    Directly controlled by Renew II Title Holding Co Inc

  • RENEW II Limited Partnership

    Rental · Rental Activity · NH · 0.01% owned · general or managing partner

    Directly controlled by NWSNH RENEW II CORP

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
10 August 2023
IRS schema version
2022v5.0
Source object
202342239349301279

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