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Nonprofiteer
← OLIVET-ST VINCENTS HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2022

Filed by OLIVET-ST VINCENTS HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$1,316,796
Total expenses
$1,281,688
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,289,561
Investment income
$15,480
Other revenue
$11,755
Total assets, end of year
$3,269,199
Total liabilities, end of year
$3,678,340
Net assets or fund balances, end of year
-$409,141
Program services expenses (Part IX)
$1,129,686
Management and general expenses
$152,002
Fundraising expenses
$0
Program service expenses (Part III)
$1,129,686

Program services were 88.1% 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: TENANT ASSISTANCE PAYM

    total $1,050,500 · related or exempt $1,050,500

  • 2b · Program service revenue: TENANT RENTAL PAYMENTS

    total $238,713 · related or exempt $238,713

  • 2c · Program service revenue: COVID-19 SUPPLEMENTAL

    total $348 · related or exempt $348

  • 3 · Investment income

    total $15,480 · excluded $15,480

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $9,886 · related or exempt $9,886

  • 11b · Other revenue: LAUNDRY & VENDING

    total $1,800 · related or exempt $1,800

  • 11c · Other revenue: FORFEITED TENANT SECUR

    total $69 · related or exempt $69

  • 11e · Other revenue, total

    $11,755

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $160,494 · program services $134,379 · management and general $26,115

  • 9 · Other employee benefits

    total $13,977 · program services $13,977

  • 10 · Payroll taxes

    total $5,641 · program services $5,641

  • 11a · Fees: management

    total $72,724 · management and general $72,724

  • 11c · Fees: accounting

    total $20,500 · management and general $20,500

  • 13 · Office expenses

    total $11,929 · management and general $11,929

  • 16 · Occupancy

    total $119,390 · program services $119,390

  • 20 · Interest

    total $169,385 · program services $169,385

  • 22 · Depreciation, depletion and amortization

    total $172,050 · program services $172,050

  • 23 · Insurance

    total $75,451 · program services $75,451

  • 24a · Other expenses: REAL ESTATE TAXES

    total $211,959 · program services $211,959

  • 24b · Other expenses: SECURITY

    total $127,929 · program services $127,929

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $69,969 · program services $69,969

  • 24d · Other expenses: BOOKKEEPING

    total $19,410 · management and general $19,410

  • 24e · All other expenses

    total $30,880 · program services $29,556 · management and general $1,324

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $63,199 · end of year $58,694

  • 4 · Accounts receivable

    beginning of year $12,887 · end of year $26,136

  • 9 · Prepaid expenses and deferred charges

    beginning of year $149,797 · end of year $165,749

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

    $5,438,004

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

    $4,207,226

  • 10c · Land, buildings and equipment, net

    beginning of year $1,316,734 · end of year $1,230,778

  • 15 · Other assets

    beginning of year $1,796,587 · end of year $1,787,842

  • 17 · Accounts payable and accrued expenses

    beginning of year $265,159 · end of year $239,211

  • 19 · Deferred revenue

    beginning of year $7,198 · end of year $2,719

  • 23 · Secured mortgages and notes payable

    beginning of year $3,490,276 · end of year $3,414,400

  • 25 · Other liabilities

    beginning of year $20,820 · end of year $22,010

  • 27 · Net assets without donor restrictions

    beginning of year -$444,249 · end of year -$409,141

Mission and programs · 2022

Mission

TO PROVIDE HOUSING AND RELATED SERVICES TO THE POOR ELDERLY ON A NONPROFIT BASIS.

Activities or mission (Part I)

OWN AND OPERATE A HUD-FINANCED MULTIFAMILY PROJECT FOR THE ELDERLY ON A NONPROFIT BASIS.

  • THE ORGANIZATION OWNS AND OPERATES A SECTION 223(F) HUD FINANCED MULTIFAMILY HOUSING PROJECT FOR THE ELDERLY. THE PROJECT CONSISTS OF 75 UNITS.

    Expenses $1,129,686 · Revenue $1,301,316

As filed on the 2022 return.

Listed in Part VII

  • Sr Sheila Brosnan Sc

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Joan Catalano

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Katherine Connors

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Brian F Doran Esq

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Dianne Powers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Sr Dominica Rocchiosc

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Dr Pankaj Patel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Sr Eileen Walsh Sc

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Tara French

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Matthew Janeczko

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    5 + 30 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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
23 March 2023
IRS schema version
2022v5.0
Source object
202330949349301008

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