Skip to content
Nonprofiteer
← ASSOCIATION PROPERTIES INC

Form 990 for tax year 2023

Filed by ASSOCIATION PROPERTIES INC.

Totals

Total revenue
$214,813
Total expenses
$191,421
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$211,897
Investment income
$19
Other revenue
$2,897
Total assets, end of year
$212,145
Total liabilities, end of year
$562,666
Net assets or fund balances, end of year
-$350,521
Program services expenses (Part IX)
$171,885
Management and general expenses
$19,536
Fundraising expenses
$0
Program service expenses (Part III)
$171,885

Program services were 89.8% 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: TENANT RENT INCOME

    total $211,897 · related or exempt $211,897

  • 3 · Investment income

    total $19 · excluded $19

  • 11a · Other revenue: TENANT CHARGES & LAUND

    total $2,897 · excluded $2,897

  • 11e · Other revenue, total

    $2,897

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $9,927 · management and general $9,927

  • 11b · Fees: legal

    total $850 · management and general $850

  • 11c · Fees: accounting

    total $7,000 · management and general $7,000

  • 11g · Fees: other

    total $639 · management and general $639

  • 16 · Occupancy

    total $93,809 · program services $93,809

  • 20 · Interest

    total $39,789 · program services $39,789

  • 22 · Depreciation, depletion and amortization

    total $23,717 · program services $23,717

  • 23 · Insurance

    total $2,555 · program services $2,555

  • 24a · Other expenses: OFFICE

    total $6,862 · program services $6,862

  • 24b · Other expenses: PROPERTY MANAGER

    total $3,866 · program services $3,866

  • 24c · Other expenses: FRINGE

    total $1,287 · program services $1,287

  • 24d · Other expenses: BAD DEBTS

    total $951 · management and general $951

  • 24e · All other expenses

    total $169 · management and general $169

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,974 · end of year $9,290

  • 2 · Savings and temporary cash investments

    beginning of year $39,132 · end of year $46,733

  • 4 · Accounts receivable

    beginning of year $4,633 · end of year $1,656

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,057 · end of year $992

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

    $1,262,399

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

    $1,108,925

  • 10c · Land, buildings and equipment, net

    beginning of year $177,191 · end of year $153,474

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,700 · end of year $10,192

  • 21 · Escrow or custodial account liability

    beginning of year $5,646 · end of year $6,903

  • 23 · Secured mortgages and notes payable

    beginning of year $587,554 · end of year $545,571

  • 27 · Net assets without donor restrictions

    beginning of year -$373,913 · end of year -$350,521

Mission and programs · 2023

Mission

NONE

Activities or mission (Part I)

PROVIDING RESIDENTIAL & SUPPORT SERVICES TO PEOPLE WITH DISABILITIES & OTHER VULNERABLE INDIVIDUALS.

  • THE ORGANIZATION OPERATED AN APARTMENT COMPLEX OF 15 UNITS UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. THE COMPLEX PRIMARILY HOUSES PEOPLE WITH DISABILITIES.

    Expenses $171,885 · Revenue $211,897

As filed on the 2023 return.

Listed in Part VII

  • NANCY MIRKIN

    CLERK(THRU 10/11)CHAIR(EFF 10/11)

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • JACQUELINE JOHNSON

    VICE CHAIR (END 10/11)

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • DONNA-RAE KENNEALLY

    TREAS(THRU 10/11)V CHAIR(EFF 10/11)

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • MICHAEL BRASSARD

    DIRECTOR (END 10/11)

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • JOSEPH LEPPER

    DIRECTOR, TREASURER (EFF 10/11)

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • DEE CADY

    DIRECTOR, CLERK (EFF) 10/11)

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • DENISE COGMAN

    CHAIR(THRU 10/11), DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • MARIA PUPPOLO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • EARL MILLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • MAUREEN BABINEAU

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • JANETTE VIGO

    DIRECTOR (EFF 10/11)

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • DARLENE LIBISZEWSKI

    DIRECTOR (EFF 01/24)

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • NEAL LAKRITZ MD

    DIRECTOR (EFF 01/24)

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • CHERYL FASANO

    PRESIDENT & CEO

    Total calculated
    $225,764
    From this org
    $0
    From related orgs
    $218,600
    Other
    $7,164
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,600 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,208 related
    Nontaxable benefits
    $0 + $956 related
    Filer's total
    $0 + $225,764 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

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 corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
27 February 2025
IRS schema version
2023v6.0
Source object
202530599349302103

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.