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← NWGM TITLE HOLDING COMPANY II INC

Form 990 for tax year 2023

Filed by NWGM TITLE HOLDING COMPANY II INC.

Totals

Total revenue
$261,635
Total expenses
$270,793
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$261,634
Investment income
$1
Other revenue
$0
Total assets, end of year
$2,437,253
Total liabilities, end of year
$168,052
Net assets or fund balances, end of year
$2,269,201
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$270,793

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 $261,634 · related or exempt $261,634

  • 3 · Investment income

    total $1 · excluded $1

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $39,404

  • 11b · Fees: legal

    total $861

  • 11c · Fees: accounting

    total $11,361

  • 12 · Advertising and promotion

    total $7

  • 13 · Office expenses

    total $1,558

  • 16 · Occupancy

    total $142,624

  • 22 · Depreciation, depletion and amortization

    total $56,803

  • 23 · Insurance

    total $7,864

  • 24a · Other expenses: Miscellaneous

    total $5,517

  • 24b · Other expenses: Bad Debt

    total $4,786

  • 24c · Other expenses: Dues & Subscriptions

    total $8

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $496,719 · end of year $318,550

  • 4 · Accounts receivable

    beginning of year $145 · end of year $3,755

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

    $2,380,145

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

    $300,934

  • 10c · Land, buildings and equipment, net

    beginning of year $1,797,825 · end of year $2,079,211

  • 15 · Other assets

    beginning of year $1,000 · end of year $35,737

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,526 · end of year $4,566

  • 25 · Other liabilities

    beginning of year $9,804 · end of year $163,486

  • 27 · Net assets without donor restrictions

    beginning of year $2,278,359 · end of year $2,269,201

Mission and programs · 2023

Mission

NWGM Title Holding Company II, Inc. 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 II, 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 safe 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 $270,793 · Revenue $261,634

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Robert Tourigny

    President

    Total calculated
    $173,130
    From this org
    $0
    From related orgs
    $155,306
    Other
    $17,824
    Hours/week
    4 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,306 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,843 related
    Nontaxable benefits
    $0 + $9,981 related
    Filer's total
    $0 + $173,130 related

  • Jennifer Vadney

    Secretary

    Total calculated
    $115,297
    From this org
    $0
    From related orgs
    $99,596
    Other
    $15,701
    Hours/week
    4 + 41 related

  • Diane Brewster

    Treasurer

    Total calculated
    $119,489
    From this org
    $0
    From related orgs
    $103,060
    Other
    $16,429
    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 2023 his total reportable compensation was $173,130.

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
30 September 2024
IRS schema version
2023v5.1
Source object
202402759349301455

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