Form 990 for tax year 2022

Filed by ALLIANCE ASSET MANAGEMENT INC.

Totals

Total revenue: $1,644,393
Total expenses: $1,610,302
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $1,644,393
Investment income: $0
Other revenue: $0
Total assets, end of year: $246,832
Total liabilities, end of year: $525,395
Net assets or fund balances, end of year: -$278,563
Program services expenses (Part IX): $1,370,302
Management and general expenses: $240,000
Fundraising expenses: $0
Program service expenses (Part III): $1,370,302

Program services were 85.1% 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: MANAGEMENT DIRECT COST

total $1,045,683 · related or exempt $1,045,683
2b · Program service revenue: MANAGEMENT FEES

total $459,966 · related or exempt $459,966
2c · Program service revenue: RESIDENT SERVICES INCO

total $119,732 · related or exempt $119,732
2d · Program service revenue: MISCELLANEOUS

total $19,012 · related or exempt $19,012

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $1,232,002 · program services $992,002 · management and general $240,000
9 · Other employee benefits

total $103,953 · program services $103,953
10 · Payroll taxes

total $90,078 · program services $90,078
11b · Fees: legal

total $8,092 · program services $8,092
11c · Fees: accounting

total $16,900 · program services $16,900
12 · Advertising and promotion

total $3,340 · program services $3,340
14 · Information technology

total $15,688 · program services $15,688
16 · Occupancy

total $69,946 · program services $69,946
20 · Interest

total $6,010 · program services $6,010
22 · Depreciation, depletion and amortization

total $2,355 · program services $2,355
23 · Insurance

total $31,540 · program services $31,540
24a · Other expenses: ADMINISTRATIVE

total $30,272 · program services $30,272
24b · Other expenses: MISCELLANEOUS

total $126 · program services $126

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $53,188 · end of year $97,307
9 · Prepaid expenses and deferred charges

beginning of year $20,708 · end of year $36,686
10a · Land, buildings and equipment: cost or other basis

$22,597
10b · Land, buildings and equipment: accumulated depreciation

$22,084
10c · Land, buildings and equipment, net

beginning of year $2,868 · end of year $513
15 · Other assets

beginning of year $133,100 · end of year $112,326
17 · Accounts payable and accrued expenses

beginning of year $17,450 · end of year $45,390
23 · Secured mortgages and notes payable

beginning of year $150,000 · end of year $149,937
25 · Other liabilities

beginning of year $355,068 · end of year $330,068
27 · Net assets without donor restrictions

beginning of year -$312,654 · end of year -$278,563

Mission and programs · 2022

Mission

THE ORGANIZATION'S MISSION IS TO ESTABLISH AND MAINTAIN AFFORDABLE HOUSING FOR LOWER AND MODERATE INCOME INDIVIDUALS AND FAMILIES BY MANAGING REAL ESTATE HOLDINGS FOR A RELATED TAX-EXEMPT ENTITY AS WELL AS OTHER NONPROFIT, TAX-EXEMPT OR CHARITABLE ORGANIZATIONS.

THE ORGANIZATION SUPPORTS AFFORDABLE HOUSING PROJECTS FOR LOWER AND MODERATE INCOME INDIVIDUALS AND FAMILIES IN NEW HAMPSHIRE. IT PROVIDES REAL ESTATE MANAGEMENT SERVICES TO VARIOUS TAX-EXEMPT ENTITIES, PRIMARILY FOR CONCORD AREA TRUST FOR COMMUNITY HOUSING, A RELATED ORGANIZATION THAT IS A SUPPORTED ENTITY.

Expenses $1,370,302 · Revenue $1,644,393

As filed on the 2022 return.

Listed in Part VII

James M Gallagher IIIJAMES M GALLAGHER III

CHAIR

Total calculated

$0

Hours/week

1
Oresta MoscaORESTA MOSCA

TREASURER

Total calculated

$0

Hours/week

1
Byron ChamplinBYRON CHAMPLIN

SECRETARY

Total calculated

$0

Hours/week

1
Scoop WelchSCOOP WELCH

DIRECTOR

Total calculated

$0

Hours/week

1
Donna BaileyDONNA BAILEY

DIRECTOR

Total calculated

$0

Hours/week

1
Safiya WazirSAFIYA WAZIR

DIRECTOR

Total calculated

$0

Hours/week

1
Nancy EgnerNANCY EGNER

DIRECTOR

Total calculated

$0

Hours/week

1
Aki MathieuAKI MATHIEU

DIRECTOR

Total calculated

$0

Hours/week

1
Jeff FeingoldJEFF FEINGOLD

VICE CHAIR

Total calculated

$0

Hours/week

1
Mary Beth WalzMARY BETH WALZ

DIRECTOR

Total calculated

$0

Hours/week

1
Timothy WadeTIMOTHY WADE

DIRECTOR

Total calculated

$0

Hours/week

1
Suzzanne PeggSUZZANNE PEGG

DIRECTOR

Total calculated

$0

Hours/week

1
Kenneth KoornneefKENNETH KOORNNEEF

DIRECTOR

Total calculated

$0

Hours/week

1
Gregory LessardGREGORY LESSARD

DIRECTOR

Total calculated

$0

Hours/week

1
Beth SlepianBETH SLEPIAN

DIRECTOR

Total calculated

$0

Hours/week

1
Greg ChakmakasGREG CHAKMAKAS

DIRECTOR

Total calculated

$0

Hours/week

1
Thomas FurtadoTHOMAS FURTADO

PRESIDENT AND CEO

Total calculated

$158,467

From this org

$0

From related orgs

$158,467

Other

$0

Hours/week

1 + 40 related

Schedule J breakdown matched by us

Base

$0 + $158,467 related

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0

Filer's total

$0 + $158,467 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

3 · Compensation survey or study
3 · Approval by the board or compensation committee

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

The filer's explanations (Part III)

PART I, LINE 3: VARIOUS COMPENSATION PACKAGE SURVEYS FROM MULTIPLE SOURCES, INCLUDING THOSE OF SIMILAR HOUSING ORGANIZATIONS, ARE USED BY THE EXECUTIVE COMMITTEE OF CONCORD AREA TRUST FOR COMMUNITY HOUSING, A RELATED ORGANIZATION, TO DETERMINE THE COMPENSATION OF IT'S PRESIDENT.

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.

CONCORD AREA TRUST FOR COMMUNITY HOUSING

501(C)(3) · AFFORDABLE HOUSING · NH
HOMETEAM

501(C)(3) · EDUCATION · NH

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.

PERLEY PLACE LP

AFFORDABLE HOUSING · NH
SOUTH END 2000 LP

AFFORDABLE HOUSING · NH
WILLOW CROSSING LP

AFFORDABLE HOUSING · NH
FRIEDMAN COURT I LP

AFFORDABLE HOUSING · NH
FRIEDMAN COURT II LP

AFFORDABLE HOUSING · NH
BOW VISTA LP

AFFORDABLE HOUSING · NH
MENNINO PLACE LP

AFFORDABLE HOUSING · NH
BOW VISTA II LP

AFFORDABLE HOUSING · NH
FRANKLIN LIGHT AND POWER LP

AFFORDABLE HOUSING · NH
VILLAGE STREET APARTMENTS LP

AFFORDABLE HOUSING · NH

Related corporations and trusts

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

CTC PERLEY CORPORATION II

C · AFFORDABLE HOUSING · NH
SOUTH END 2000 CORPORATION

C · AFFORDABLE HOUSING · NH
1820 HOUSING COOPERATIVE

C · AFFORDABLE HOUSING · NH
EASTERN APARTMENTS INC

C · AFFORDABLE HOUSING · NH
CATCH THREE BEDROOM TOWNHOUSES

C · AFFORDABLE HOUSING · NH
WILLOW CROSSING LLC

C · AFFORDABLE HOUSING · NH
FRIEDMAN COURT LLC

C · AFFORDABLE HOUSING · NH
BRUCE FRIEDMAN COURT II LLC

C · AFFORDABLE HOUSING · NH
BOW CROSSING LLC

C · AFFORDABLE HOUSING · NH
MENNINO CROSSING LLC

C · AFFORDABLE HOUSING · NH
BOW CROSSING II LLC

C · AFFORDABLE HOUSING · NH
FRANKLIN L&P LLC

C · AFFORDABLE HOUSING · NH
IMPACT DEVELOPMENT ADVISORS INC

C · AFFORDABLE HOUSING · NH
VILLAGE STREET GP INC

C · AFFORDABLE HOUSING · NH

Provenance

Return type: form_990
Tax year: 2022
Filed: 20 July 2023
IRS schema version: 2022v5.0
Source object: 202302019349301025

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