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Nonprofiteer
← MISHAWUM PARK TENANTS ASSOCIATION INC

Form 990 for tax year 2024

Filed by MISHAWUM PARK TENANTS ASSOCIATION INC.

Totals

Total revenue
$5,715,691
Total expenses
$7,169,831
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,666,390
Investment income
$43,461
Other revenue
$5,840
Total assets, end of year
$30,277,151
Total liabilities, end of year
$27,356,029
Net assets or fund balances, end of year
$2,921,122
Program services expenses (Part IX)
$6,013,809
Management and general expenses
$1,156,022
Fundraising expenses
$0
Program service expenses (Part III)
$6,013,809

Program services were 83.9% 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: RENTAL INCOME

    total $5,666,390 · related or exempt $5,666,390

  • 3 · Investment income

    total $42,719 · excluded $42,719

  • 7a · Gross sales of assets other than inventory

    securities $124,820

  • 7b · Less cost or other basis and sales expenses

    securities $124,078

  • 7c · Gain or loss

    securities $742

  • 7d · Net gain or loss

    total $742 · excluded $742

  • 11a · Other revenue: LAUNDRY INCOME

    total $5,281 · excluded $5,281

  • 11b · Other revenue: EIV REPAYMENT FEE

    total $330 · excluded $330

  • 11c · Other revenue: INSUF. NOTICE FEE

    total $229 · excluded $229

  • 11e · Other revenue, total

    $5,840

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $922,410 · program services $484,287 · management and general $438,123

  • 9 · Other employee benefits

    total $194,419 · program services $100,769 · management and general $93,650

  • 10 · Payroll taxes

    total $90,308 · program services $33,755 · management and general $56,553

  • 11a · Fees: management

    total $227,919 · management and general $227,919

  • 11b · Fees: legal

    total $47,193 · management and general $47,193

  • 11c · Fees: accounting

    total $49,641 · management and general $49,641

  • 11g · Fees: other

    total $38,269 · management and general $38,269

  • 13 · Office expenses

    total $161,998 · management and general $161,998

  • 16 · Occupancy

    total $1,699,082 · program services $1,699,082

  • 20 · Interest

    total $382,893 · program services $382,893

  • 22 · Depreciation, depletion and amortization

    total $1,505,282 · program services $1,505,282

  • 23 · Insurance

    total $625,151 · program services $625,151

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $1,164,605 · program services $1,164,605

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $36,610 · management and general $36,610

  • 24c · Other expenses: PERMITS & FEES

    total $17,985 · program services $17,985

  • 24d · Other expenses: MASSHOUSING TAP PROGRAM

    total $6,066 · management and general $6,066

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $23,911 · end of year $73,926

  • 2 · Savings and temporary cash investments

    beginning of year $287,770 · end of year $278,739

  • 4 · Accounts receivable

    beginning of year $191,356 · end of year $118,355

  • 9 · Prepaid expenses and deferred charges

    beginning of year $285,064 · end of year $274,965

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

    $59,075,911

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

    $33,800,329

  • 10c · Land, buildings and equipment, net

    beginning of year $26,745,864 · end of year $25,275,582

  • 11 · Investments: publicly traded securities

    beginning of year $373,796 · end of year $380,581

  • 15 · Other assets

    beginning of year $3,888,681 · end of year $3,875,003

  • 17 · Accounts payable and accrued expenses

    beginning of year $893,784 · end of year $1,133,637

  • 19 · Deferred revenue

    beginning of year $89,811 · end of year $96,396

  • 21 · Escrow or custodial account liability

    beginning of year $214,380 · end of year $216,114

  • 23 · Secured mortgages and notes payable

    beginning of year $26,226,943 · end of year $25,909,882

  • 27 · Net assets without donor restrictions

    beginning of year $4,371,524 · end of year $2,921,122

Mission and programs · 2024

Mission

TO IMPROVE, ACQUIRE, REHABILITATE AND OPERATE THE EXISTING AFFORDABLE HOUSING PROJECTS.

  • TO IMPROVE THE PHYSICAL AND SOCIAL CONDITIONS OF THE HOUSING ENVIRONMENT OF THE MISHAWUM PARK APARTMENTS LOCATED IN CHARLESTOWN, MA, AND TO ACQUIRE, REHABILITATE AND OPERATE 337 UNITS OF AFFORDABLE HOUSING.

    Expenses $6,013,809 · Revenue $5,666,390

As filed on the 2024 return.

Listed in Part VII

  • Karen Scanlan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Anthony Vitale

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lisa Sgro

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sharon Tom

    BOARD MEMBER (AS OF 10/24)

    Total calculated
    $0
    Hours/week
    1

  • Kim Copithorn

    BOARD MEMBER (AS OF 10/24)

    Total calculated
    $0
    Hours/week
    1

  • Mary McGonagle

    BOARD MEMBER (AS OF 10/24)

    Total calculated
    $0
    Hours/week
    1

  • William Donahue

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Donna Wallace

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michael Johnson

    CHAIR (AS OF 11/24)

    Total calculated
    $0
    Hours/week
    1

  • John Ward

    VICE CHAIR (THRU 11/24)

    Total calculated
    $0
    Hours/week
    1

  • Joseph Sullivan Treas

    (THRU 11/24), VC (AS OF 11/24)

    Total calculated
    $0
    Hours/week
    1

  • Carol Howell

    TREASURER (AS OF 11/24)

    Total calculated
    $0
    Hours/week
    1

  • Kellie Ward

    VICE TREASURER (AS OF 11/24)

    Total calculated
    $0
    Hours/week
    1

  • Jan Brown

    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
6 August 2026
IRS schema version
2024v5.5
Source object
202642189349301604

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