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Nonprofiteer
← RESIDENTIAL OPTIONS INC

Form 990 for tax year 2024

Filed by RESIDENTIAL OPTIONS INC.

Totals

Total revenue
$90,256
Total expenses
$119,095
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$90,201
Investment income
$55
Other revenue
$0
Total assets, end of year
$449,702
Total liabilities, end of year
$700,980
Net assets or fund balances, end of year
-$251,278
Program services expenses (Part IX)
$113,841
Management and general expenses
$5,254
Fundraising expenses
$0
Program service expenses (Part III)
$113,841

Program services were 95.6% 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: RENTS

    total $90,201 · related or exempt $90,201

  • 3 · Investment income

    total $55 · excluded $55

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $5,227 · program services $2,573 · management and general $2,654

  • 11c · Fees: accounting

    total $2,600 · management and general $2,600

  • 16 · Occupancy

    total $81,813 · program services $81,813

  • 22 · Depreciation, depletion and amortization

    total $24,326 · program services $24,326

  • 23 · Insurance

    total $4,317 · program services $4,317

  • 24a · Other expenses: EQUIPMENT RENTAL AND MA

    total $776 · program services $776

  • 24b · Other expenses: OTHER

    total $36 · program services $36

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $520 · end of year $789

  • 2 · Savings and temporary cash investments

    beginning of year $18,352 · end of year $21,216

  • 4 · Accounts receivable

    beginning of year $2,149 · end of year $23,446

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,362 · end of year $2,363

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

    $951,835

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

    $549,947

  • 10c · Land, buildings and equipment, net

    beginning of year $390,595 · end of year $401,888

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,133 · end of year $1,223

  • 23 · Secured mortgages and notes payable

    beginning of year $363,038 · end of year $364,814

  • 25 · Other liabilities

    beginning of year $270,246 · end of year $334,943

  • 27 · Net assets without donor restrictions

    beginning of year -$860,039 · end of year -$888,878

  • 28 · Net assets with donor restrictions

    beginning of year $637,600 · end of year $637,600

Mission and programs · 2024

Mission

TO HOLD REAL ESTATE FOR A RELATED 501(3)(C) ORGANIZATION, NORTHEAST ARC, INC.'S HUD PROGRAM. THE PROPERTIES CONSIST OF ONE RESIDENTIAL HOME AND THREE CONDO UNITS.

Activities or mission (Part I)

HOLD REAL ESTATE FOR NORTHEAST ARC, AN AFFILIATED 501(C)(3) ORGANIZATION.

  • REAL ESTATE - RESIDENTIAL OPTIONS, INC. OWNS THREE CONDO UNITS AND A RESIDENTIAL BUILDING WHICH IS HOME TO SEVEN INDIVIDUALS WITH DISABILITIES WHO ARE RECEIVING SERVICES THROUGH PROGRAMS OPERATED BY NORTHEAST ARC, INC., AN AFFILIATED 501(C)(3) NON-PROFIT CORPORATION.

    Expenses $113,841 · Revenue $90,201

As filed on the 2024 return.

Listed in Part VII

  • Julie Cummings

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • George Harrington

    DIRECTOR (UNTIL 5/25)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Shari Munro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Jo Ann Simons

    PRESIDENT/DIRECTOR

    Total calculated
    $622,520
    From this org
    $0
    From related orgs
    $408,606
    Other
    $213,914
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $338,392 related
    Bonus
    $0 + $70,000 related
    Other
    $0 + $214 related
    Deferred
    $0 + $178,450 related
    Nontaxable benefits
    $0 + $35,464 related
    Filer's total
    $0 + $622,520 related

  • Joanne Plourde

    TREASURER/DIRECTOR (UNTIL 10/2024)

    Total calculated
    $169,532
    From this org
    $0
    From related orgs
    $157,666
    Other
    $11,866
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $124,669 related
    Bonus
    $0 + $32,692 related
    Other
    $0 + $305 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $11,866 related
    Filer's total
    $0 + $169,532 related

  • Cynthia Park

    CLERK/DIRECTOR

    Total calculated
    $258,597
    From this org
    $0
    From related orgs
    $222,906
    Other
    $35,691
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $222,538 related
    Bonus
    $0
    Other
    $0 + $368 related
    Deferred
    $0 + $2,405 related
    Nontaxable benefits
    $0 + $33,286 related
    Filer's total
    $0 + $258,597 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
  • 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
RESIDENTIAL OPTIONS, INC. DOES NOT HAVE ANY EMPLOYEES. THE CEO, CFO, AND COO ARE ALL COMPENSATED BY NORTHEAST ARC, INC., A RELATED ORGANIZATION.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
24 April 2026
IRS schema version
2024v5.5
Source object
202611259349302466

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