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← NEWVUE LIABILITIES TO ASSETS INC

Form 990 for tax year 2022

Filed by NEWVUE LIABILITIES TO ASSETS INC.

Totals

Total revenue
$267,319
Total expenses
$95,672
Contributions and grants received
$267,319
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$2,117,672
Total liabilities, end of year
$1,946,025
Net assets or fund balances, end of year
$171,647
Program services expenses (Part IX)
$46,127
Management and general expenses
$49,545
Fundraising expenses
$0
Program service expenses (Part III)
$46,127

Program services were 48.2% 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)

    $95,740

  • 1f · All other contributions, gifts and grants

    $171,579

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $94,037 · program services $44,492 · management and general $49,545

  • 20 · Interest

    total $1,635 · program services $1,635

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $478,682 · end of year $998,447

  • 2 · Savings and temporary cash investments

    beginning of year $250,973 · end of year $251,501

  • 3 · Pledges and grants receivable

    beginning of year $54,548 · end of year $248,824

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,500

  • 15 · Other assets

    beginning of year $1,017,564 · end of year $618,900

  • 17 · Accounts payable and accrued expenses

    beginning of year $347,878 · end of year $129,362

  • 23 · Secured mortgages and notes payable

    end of year $104,550

  • 25 · Other liabilities

    beginning of year $1,456,389 · end of year $1,712,113

  • 27 · Net assets without donor restrictions

    end of year $171,647

Mission and programs · 2022

Mission

LIABILITIES TO ASSETS IS A PILOT PROGRAM THAT THE EXECUTIVE OFFICE OF HOUSING AND LIVABLE COMMUNITIES CREATED TO HELP COMMUNITIES STABILIZE NEIGHBORHOODS BY REDEVELOPING DETERIORATED PROPERTIES THAT ARE CONSIDERED A BLIGHT. THE PROGRAM WILL SUPPORT THE PURCHASE AND REHABILITATION OF PRIMARILY ONE AND TWO FAMILY PROPERTIES THAT HAVE BEEN VACANT FOR AT LEAST 3 YEARS AT THE TIME OF DEVELOPMENT AND HAVE A NEGATIVE IMPACT ON THEIR SURROUNDING NEIGHBORHOOD.

  • PURCHASE AND REHABILITATION OF BLIGHTED PROPERTIES IN ATHOL, CLINTON, FITCHBURG, GARDNER AND LEOMINSTER AND SELLING TO ELIGIBLE HOMEOWNERS.

    Expenses $46,127

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tom Gray

    BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Christina Dirusso

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Marc Dohan

    BOARD CLERK

    Total calculated
    $0
    Hours/week
    2

  • Liz Murphy

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Elizabeth Wood

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey Parker

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Trevor Beauregard

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Philip Duffy

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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
2022
Filed
31 October 2023
IRS schema version
2022v5.0
Source object
202333079349303013

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