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Nonprofiteer
← CODMAN SQUARE NEIGHBORHOOD DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by CODMAN SQUARE NEIGHBORHOOD DEVELOPMENT CORPORATION.

Totals

Total revenue
$6,746,858
Total expenses
$5,207,169
Contributions and grants received
$2,963,176
Grants paid
$27,463
Program service revenue
$3,390,051
Investment income
$2,257
Other revenue
$391,374
Total assets, end of year
$64,073,907
Total liabilities, end of year
$23,755,550
Net assets or fund balances, end of year
$40,318,357
Program services expenses (Part IX)
$4,735,991
Management and general expenses
$462,150
Fundraising expenses
$9,028
Program service expenses (Part III)
$4,735,991

Program services were 91.0% 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.

  • 1e · Government grants (contributions)

    $948,064

  • 1f · All other contributions, gifts and grants

    $2,015,112

  • 2a · Program service revenue: RENTAL INCOME

    total $1,262,392 · related or exempt $1,262,392

  • 2b · Program service revenue: DEVELOPER FEE

    total $851,678 · related or exempt $851,678

  • 2c · Program service revenue: INTEREST ON N/R

    total $546,041 · related or exempt $546,041

  • 2d · Program service revenue: MANAGMENT FEES

    total $500,733 · related or exempt $500,733

  • 2f · All other program service revenue

    total $229,207 · related or exempt $229,207

  • 3 · Investment income

    total $2,257 · related or exempt $2,257

  • 11a · Other revenue: MISCELLANEOUS

    total $391,374 · related or exempt $391,374

  • 11e · Other revenue, total

    $391,374

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,000 · program services $2,000

  • 2 · Grants to domestic individuals

    total $25,463 · program services $25,463

  • 5 · Compensation of officers, directors and key employees

    total $528,732 · program services $339,027 · management and general $183,193 · fundraising $6,512

  • 7 · Other salaries and wages

    total $1,803,308 · program services $1,660,399 · management and general $142,850 · fundraising $59

  • 9 · Other employee benefits

    total $324,373 · program services $293,814 · management and general $30,170 · fundraising $389

  • 10 · Payroll taxes

    total $188,617 · program services $162,751 · management and general $25,371 · fundraising $495

  • 11a · Fees: management

    total $287,310 · program services $252,528 · management and general $34,116 · fundraising $666

  • 11b · Fees: legal

    total $90,634 · program services $82,623 · management and general $7,858 · fundraising $153

  • 13 · Office expenses

    total $61,634 · program services $53,717 · management and general $7,765 · fundraising $152

  • 16 · Occupancy

    total $624,454 · program services $612,732 · management and general $11,497 · fundraising $225

  • 19 · Conferences, conventions and meetings

    total $72,369 · program services $61,969 · management and general $10,201 · fundraising $199

  • 20 · Interest

    total $184,424 · program services $182,914 · management and general $1,481 · fundraising $29

  • 22 · Depreciation, depletion and amortization

    total $301,804 · program services $299,712 · management and general $2,052 · fundraising $40

  • 23 · Insurance

    total $113,159 · program services $110,598 · management and general $2,512 · fundraising $49

  • 24a · Other expenses: PROGRAM FEES

    total $286,749 · program services $286,749

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $222,960 · program services $222,960

  • 24c · Other expenses: BAD DEBT

    total $47,532 · program services $47,532

  • 24d · Other expenses: OTHER FEES

    total $30,636 · program services $29,101 · management and general $1,506 · fundraising $29

  • 24e · All other expenses

    total $11,011 · program services $9,402 · management and general $1,578 · fundraising $31

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,946,571 · end of year $4,839,190

  • 2 · Savings and temporary cash investments

    beginning of year $1,713,475 · end of year $3,278,612

  • 3 · Pledges and grants receivable

    beginning of year $17,612 · end of year $58,176

  • 4 · Accounts receivable

    beginning of year $789,993 · end of year $681,115

  • 7 · Other notes and loans receivable

    beginning of year $9,160 · end of year $9,160

  • 9 · Prepaid expenses and deferred charges

    beginning of year $57,713 · end of year $39,787

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

    $10,881,125

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

    $3,137,677

  • 10c · Land, buildings and equipment, net

    beginning of year $7,767,789 · end of year $7,743,448

  • 13 · Investments: program-related

    beginning of year $14,731,226 · end of year $14,370,982

  • 15 · Other assets

    beginning of year $22,501,955 · end of year $33,053,437

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,206,174 · end of year $3,005,526

  • 19 · Deferred revenue

    beginning of year $18,063 · end of year $18,063

  • 23 · Secured mortgages and notes payable

    beginning of year $12,046,494 · end of year $20,019,937

  • 25 · Other liabilities

    beginning of year $477,467 · end of year $712,024

  • 27 · Net assets without donor restrictions

    beginning of year $38,542,046 · end of year $39,973,440

  • 28 · Net assets with donor restrictions

    beginning of year $245,250 · end of year $344,917

Mission and programs · 2023

Mission

TO DEVELOP AFFORDABLE HOUSING,GENERATE NEIGHBORHOOD STABILIZATION, PROMOTE ECONOMIC DEVELOPMENT, AND PROVIDE SERVICES THAT ENHANCE THE SENSE OF COMMUNITY AND QUALITY OF LIFE TO RESIDENTS IN THE CODMAN SQUARE AREA OF DORCHESTER, MA.

Activities or mission (Part I)

TO DEVELOP AFFORDABLE HOUSING AND GENERATE NEIGHBORHOOD STABILIZATION AND ECONOMIC DEVELOPMENT

  • ASSET MANAGEMENT IS THE OWNERSHIP AND MANAGEMENT OF PROPERTIES CSNDC HAS DEVELOPED IN THE PAST. THESE EFFORTS ARE AIMED AT ENSURING THAT THE PROPERTIES MEET THE NEEDS OF THEIR LOW TO MODERATE INCOME RESIDENTS AS WELL AS MAINTAINING THE FINANCIAL VIABILITY OF THESE PROPERTIES IN THE FUTURE.

    Expenses $1,788,905 · Revenue $1,467,942

  • REAL ESTATE DEVELOPMENT - DEVELOPMENT INCLUDES CSNDC'S AND ITS SUBSIDIARIES' EFFORTS TO REHABILITATE RESIDENTIAL AND COMMERCIAL PROPERTIES IN THE CODMAN SQUARE NEIGHBORHOOD.

    Expenses $990,209 · Revenue $990,159

  • RESIDENT SERVICES - RESIDENT SERVICES PROVIDES SOCIAL SERVICES FOR RESIDENTS OF THE PROPERTIES WHICH CSNDC HAS DEVELOPED AS WELL AS PROVIDING FOR THE INVOLVEMENT OF THESE RESIDENTS IN VARIOUS COMMUNITY DEVELOPMENT AND YOUTH PROGRAMS.

    Expenses $1,403,313 · Revenue $295,183

  • MANAGED AFFORDABLE HOUSING DEVELOPMENTS TO ENSURE THE NEEDS OF THE RESIDENTS WERE MET AS WELL AS PRESERVING THE FINACIAL VIABILITY OF THE DEVELOPMENTS

    Expenses $553,564 · Grants $27,463 · Revenue $1,030,398

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

Listed in Part VII

  • Leroy Gibson

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Latishia Crosby-Muturi

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Annett McClanahan

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Laquisa Burke

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Carla Richards

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Tanya Wesley-White

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Linda Monteiro

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Trina Ruffin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Whitney Demetrius

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Kevin Benjamin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Gail Latimore

    EXECUTIVE DIRECTOR

    Total calculated
    $213,552
    From this org
    $194,150
    From related orgs
    $0
    Other
    $19,402
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,150
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $19,402
    Filer's total
    $213,552

  • Fuk Wah Vincent Lo

    DIRECTOR OF FINANCE

    Total calculated
    $153,571
    From this org
    $131,201
    From related orgs
    $0
    Other
    $22,370
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,201
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $22,370
    Filer's total
    $153,571

  • Marcia Thornhill

    CHIEF OPERATING OFFICER

    Total calculated
    $161,608
    From this org
    $151,474
    From related orgs
    $0
    Other
    $10,134
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,474
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,134
    Filer's total
    $161,608

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
  • 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.

  • 538 TALBOT AVENUE INC

    501 (C) (3) · PROVIDE ELDERLY INDIVIDUALS WITH LOW INCOME WITH AFFORDABLE HOUSING. · MA · controlled entity

  • TALBOT BERNARD SENIOR

    501 (C) (3) · PROVIDE ELDERLY INDIVIDUALS WITH LOW INCOME WITH AFFORDABLE HOUSING. · MA · controlled entity

  • 526 PARK STREET

    501 (C) (3) · TO PROVIDE AFFORDABLE HOUSING TO QUALIFIED LOW-INCOME INDIVIDUALS. · MA · controlled entity

  • CODMAN COMMUNITY DEVELOPMENT INC

    501 (C) (3) · TO PROVIDE AFFORDABLE HOUSING TO QUALIFIED LOW-INCOME INDIVIDUALS. · MA · controlled entity

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • TALBOT STATION LLC

    REALESTATE DEVELOPMENT · MA · income -$51,648 · assets $3,249,996

  • FOUR CORNERS PLAZA LLC

    REALESTATE DEVELOPMENT · MA · income $0 · assets $19,573

  • GIRLS LATIN ACADEMY LLC

    REALESTATE DEVELOPMENT · MA · income -$173,290 · assets $7,216,716

  • GIRLS LATIN LESSOR

    REALESTATE DEVELOPMENT · MA · income -$1,560 · assets $500,000

  • LITHGOW HOLDINGS LLC

    RESIDENTIAL REALESTATE · MA · income $0 · assets $0

  • 157 RENTAL COMMERCIAL LLC

    REALESTATE DEVELOPMENT · MA · income $36,026 · assets $204,546

  • 157 RENTAL LLC

    REALESTATE DEVELOPMENT · MA · income $0 · assets $0

  • CSNDC HOLDINGS LLC

    REALESTATE DEVELOPMENT · MA · income -$3,460 · assets $0

  • TALBOT COMMONS II LLC

    REALESTATE DEVELOPMENT · MA · income -$1,121 · assets $6,549

  • GIRLS LATIN ACADEMY CORPORATION LLC

    REALESTATE DEVELOPMENT · MA · income $495 · assets $0

  • CODMAN ORLANDO WALDECK LLC

    REALESTATE DEVELOPMENT · MA · income $1,607 · assets $82,142

  • CODMAN SOLAR LLC

    REALESTATE DEVELOPMENT · MA · income $28,413 · assets $403,909

  • CODMAN HERRITAGE HOMES LLC

    REALESTATE DEVELOPMENT · MA · income -$11,345 · assets $534,845

  • NORFOLK TERRACE HOLDINGS LLC

    REALESTATE DEVELOPMENT · MA · income $15,350 · assets $486,291

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • CODMAN SQUARE LIMITED PARTNERSHIP

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • WASHINGTON COLUMBIA LIMITED PARTNERSHIP

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • WASHINGTON COLUMBIA II LIMITED PARTNERSHIP

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • LITHGOW RESIDENTIAL LIMITED PARTNERSHIP

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • LITHGOW COMMERCIAL LIMITED PARTNERSHIP

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • ERIE ELLINGTON LIMITED PARTNERSHIP

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • GIRLS LATIN II LLC

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • TALBOT BERNARD HOUSING LLC

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • NEW LITHGOW RESIDENTIAL LLC

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • 157 WASHINGTON STREET AB&W LLC

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • 241 TALBOT LLC

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • NEW CODMAN SQUARE LLC

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • OLMSTEAD GREEN RENTAL I LLC

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • OLMSTEAD GREEN RENTAL II LLC

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • WHITTIER PLACE LLC

    RESIDENTIAL REALESTATE · MA · general or managing partner

  • TALBOT COMMONS I LP

    RESIDENTIAL REALESTATE · MA

  • WALANDO HOMES LP

    RESIDENTIAL REALESTATE · MA · general or managing partner

Related corporations and trusts

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

  • CODMAN SQUARE APARTMENTS INC

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • WASHINGTON COLUMBIA APARTMENTS INC

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • WASHINGTON COLUMBIA II APARTMENTS INC

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • LITHGOW APARTMENTS INC

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • ON THE SQUARE INC

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • ERIE ELLINGTON HOMES INC

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • TALBOT BERNARD CORPORATION

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • NEW CSA MANAGER LLC

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • CODMAN SQUARE REHAB INC

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • NDC HOLDINGS COMPANY INC

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • CODMAN SQUARE HOUSING SERVICES

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • 157 WASHINGTON STREET MANAGING MEMBER INC

    C · RESIDENTIAL REALESTATE · MA · 79% owned

  • 241 TALBOT CORPORATION

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • WHITTIER PLACE MANAGING MEMBER LLC

    C · RESIDENTIAL REALESTATE · MA · 100% owned

  • TALBOT COMMONS I GP LLC

    C · RESIDENTIAL REALESTATE · MA · 79% owned

  • WALANDO HOMES GP LLC

    C · RESIDENTIAL REALESTATE · MA · 79% owned

Provenance

Return type
form_990
Tax year
2023
Filed
20 August 2024
IRS schema version
2023v5.1
Source object
202412389349300101

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