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Nonprofiteer
← MEMPHREMAGOG SENIOR CITIZEN HOUSING INC

Form 990 for tax year 2023

Filed by MEMPHREMAGOG SENIOR CITIZEN HOUSING INC.

Totals

Total revenue
$242,121
Total expenses
$255,264
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$241,619
Investment income
$502
Other revenue
$0
Total assets, end of year
$917,569
Total liabilities, end of year
$746,330
Net assets or fund balances, end of year
$171,239
Program services expenses (Part IX)
$228,015
Management and general expenses
$27,249
Fundraising expenses
$0
Program service expenses (Part III)
$228,015

Program services were 89.3% 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: Rental Revenue

    total $238,739 · related or exempt $238,739

  • 2b · Program service revenue: Other Operating Revenu

    total $2,880 · related or exempt $2,880

  • 3 · Investment income

    total $502 · excluded $502

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $16,260 · program services $3,840 · management and general $12,420

  • 11b · Fees: legal

    total $113 · management and general $113

  • 11c · Fees: accounting

    total $7,900 · management and general $7,900

  • 11g · Fees: other

    total $6,816 · management and general $6,816

  • 13 · Office expenses

    total $18,110 · program services $18,110

  • 14 · Information technology

    total $1,485 · program services $1,485

  • 16 · Occupancy

    total $103,110 · program services $103,110

  • 17 · Travel

    total $492 · program services $492

  • 20 · Interest

    total $42,297 · program services $42,297

  • 22 · Depreciation, depletion and amortization

    total $42,589 · program services $42,589

  • 23 · Insurance

    total $6,010 · program services $6,010

  • 24a · Other expenses: Elderly care

    total $10,020 · program services $10,020

  • 24b · Other expenses: Residual receipts recap

    total $62 · program services $62

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,485 · end of year $5,756

  • 2 · Savings and temporary cash investments

    beginning of year $192,824 · end of year $209,548

  • 4 · Accounts receivable

    beginning of year $269 · end of year $760

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,136 · end of year $11,739

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

    $1,483,080

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

    $797,385

  • 10c · Land, buildings and equipment, net

    beginning of year $722,149 · end of year $685,695

  • 15 · Other assets

    beginning of year $3,788 · end of year $4,071

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,686 · end of year $8,000

  • 19 · Deferred revenue

    beginning of year $379 · end of year $476

  • 23 · Secured mortgages and notes payable

    beginning of year $729,891 · end of year $721,596

  • 25 · Other liabilities

    beginning of year $14,313 · end of year $16,258

  • 27 · Net assets without donor restrictions

    beginning of year $184,382 · end of year $171,239

Mission and programs · 2023

Mission

Subsidized rental housing for the elderly in Newport, VT.

Activities or mission (Part I)

Provide affordable housing for the elderly.

  • Provide subsidized rental housing for the elderly.

    Expenses $228,015 · Revenue $241,619

As filed on the 2023 return.

Listed in Part VII

  • Tim O'Neill

    President

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Patricia Sears

    Vice President

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Nikole Brainard

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Loraine Janowski

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Bobby Farlice-Rubio

    Director

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Revered Dr Jeffrey Potter

    Director

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Kimico Perry

    Director

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Kelsey Stavseth

    Director

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Terri Lynn Williams

    Director

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Scott Campbell

    Past Director

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Jennifer Cleveland

    Past Director

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Patrick Shattuck

    Executive Director

    Total calculated
    $148,495
    From this org
    $0
    From related orgs
    $125,747
    Other
    $22,748
    Hours/week
    1 + 44 related

  • Diana Cazaudumec

    Director of Finance and Compliance

    Total calculated
    $131,051
    From this org
    $0
    From related orgs
    $110,383
    Other
    $20,668
    Hours/week
    1 + 44 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.

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 partnerships

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

  • Dean Hale LLC

    Affordable Housing · VT

  • Glover Housing Limited Partnership

    Affordable Housing · VT

  • Groton Community Housing LP

    Affordable Housing · VT

  • Hilltop Family Housing LP

    Affordable Housing · VT

  • Lyndon Darling Senior Housing LP

    Affordable Housing · VT

  • Moose River Housing LP

    Affordable Housing · VT

  • Mountainview St Jay Housing LP

    Affordable Housing · VT

  • Newport Family Housing LP

    Affordable Housing · VT

  • Newport Senior Housing Limited Partnership

    Affordable Housing · VT

  • GPA Housing LP

    Affordable Housing · VT

  • Johns River Apartments LP

    Affordable Housing · VT

  • Parkview Apartments LP

    Affordable Housing · VT

  • Olivia Place LP

    Affordable Housing · VT

Related corporations and trusts

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

  • DIN 2015 LLC

    C · Rental · VT

  • GHT HFH 2011 LLC

    C · Rental · VT

  • NE Ventures Inc

    C · Rental · VT

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2024
IRS schema version
2023v5.0
Source object
202421319349301307

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