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← HARBORSIDE APARTMENTS INC

Form 990 for tax year 2024

Filed by HARBORSIDE APARTMENTS INC.

Totals

Total revenue
$85,694
Total expenses
$119,606
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$84,632
Investment income
$1,062
Other revenue
$0
Total assets, end of year
$479,296
Total liabilities, end of year
$57,496
Net assets or fund balances, end of year
$421,800
Program services expenses (Part IX)
$94,444
Management and general expenses
$25,162
Fundraising expenses
$0
Program service expenses (Part III)
$94,444

Program services were 79.0% 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 INCOME

    total $84,632 · related or exempt $84,632

  • 3 · Investment income

    total $1,062 · excluded $1,062

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $37,492 · program services $37,492

  • 11c · Fees: accounting

    total $14,512 · management and general $14,512

  • 17 · Travel

    total $16,284 · program services $16,284

  • 22 · Depreciation, depletion and amortization

    total $25,941 · program services $25,941

  • 24a · Other expenses: MAINTENANCE EXPENSES

    total $14,727 · program services $14,727

  • 24b · Other expenses: ADMIN. RENT FEE UNIT

    total $9,432 · management and general $9,432

  • 24e · All other expenses

    total $1,218 · management and general $1,218

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $37,695 · end of year $11,324

  • 4 · Accounts receivable

    beginning of year $569 · end of year $7,466

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

    $991,690

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

    $578,762

  • 10c · Land, buildings and equipment, net

    beginning of year $430,968 · end of year $412,928

  • 15 · Other assets

    beginning of year $46,374 · end of year $47,578

  • 17 · Accounts payable and accrued expenses

    beginning of year $54,894 · end of year $15,004

  • 25 · Other liabilities

    beginning of year $5,000 · end of year $42,492

  • 28 · Net assets with donor restrictions

    beginning of year $455,712 · end of year $421,800

Mission and programs · 2024

Mission

TO PROVIDE PERMANENT HOUSING TO PSYCHIATRICALLY DISABLED ADULTS.

  • HARBORSIDE APARTMENTS, INC. CONSTRUCTED A 9-UNIT RESIDENTIAL APARTMENT FACILITY FOR THE PURPOSE OF PROVIDING HOUSING FOR LOW-INCOME INDIVIDUALS WITH DISABILITIES. UNDER SECTION 8 OF THE HOUSING ACT, HARBORSIDE APARTMENTS, INC. HAS BEEN APPROVED TO RECEIVE SUBSIDY PAYMENTS FROM HUD CONSISTING OF THE DIFFERENCES BETWEEN THE CONTRACT RENT AND THE RENTS PAID BY THE TENANTS.

    Expenses $94,444 · Revenue $84,632

As filed on the 2024 return.

Listed in Part VII

  • CASWELL SAMMS

    PRESIDENT (AS OF 5/1/24)

    Total calculated
    $1,131,481
    From this org
    $0
    From related orgs
    $1,006,739
    Other
    $124,742
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $745,015 related
    Bonus
    $0 + $205,556 related
    Other
    $0 + $56,168 related
    Deferred
    $0 + $118,457 related
    Nontaxable benefits
    $0 + $6,285 related
    Filer's total
    $0 + $1,131,481 related

  • JENNIFER MENDRYZYCKI

    PRESIDENT (THRU 5/1/24)

    Total calculated
    $322,107
    From this org
    $0
    From related orgs
    $286,504
    Other
    $35,603
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $237,951 related
    Bonus
    $0
    Other
    $0 + $48,553 related
    Deferred
    $0 + $31,878 related
    Nontaxable benefits
    $0 + $3,725 related
    Filer's total
    $0 + $322,107 related

  • CHRISTOPHER CAULFIELD

    TREASURER

    Total calculated
    $391,598
    From this org
    $0
    From related orgs
    $379,700
    Other
    $11,898
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $309,169 related
    Bonus
    $0 + $52,903 related
    Other
    $0 + $17,628 related
    Deferred
    $0 + $5,936 related
    Nontaxable benefits
    $0 + $5,962 related
    Filer's total
    $0 + $391,598 related

  • TINA MILES

    TRUSTEE

    Total calculated
    $244,837
    From this org
    $0
    From related orgs
    $233,432
    Other
    $11,405
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $195,864 related
    Bonus
    $0 + $32,760 related
    Other
    $0 + $4,808 related
    Deferred
    $0 + $4,024 related
    Nontaxable benefits
    $0 + $7,381 related
    Filer's total
    $0 + $244,837 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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:
HARBORSIDE APARTMENTS, INC DOES NOT COMPENSATE ITS TOP MANAGEMENT OFFICIAL. THE TOP MANAGEMENT OFFICIAL IS COMPENSATED BY A RELATED ORGANIZATION, ST. JOSEPH'S HEALTH, INC. ST. JOSEPH'S HEALTH, INC. UNDERTAKES A RIGOROUS PROCESS TO ENSURE THAT THE EXECUTIVE COMPENSATION IT PAYS TO ITS TOP MANAGEMENT OFFICIAL AND BOARD OF TRUSTEES HAS ESTABLISHED A COMPENSATION COMMITTEE COMPRISED OF COMPENSATION ARRANGEMENT. THE BOARD OF TRUSTEES USES AN INDEPENDENT COMPENSATION CONSULTANT TO ALL OFFICERS OF THE ORGANIZATION IS REASONABLE. IN RELEVANT PART, THE INDEPENDENT PERSONS THAT HAVE NO PERSONAL INTEREST IN THE PROPOSED HELP ADVISE ON THE APPROPRIATE COMPENSATION LEVELS FOR THE AFOREMENTIONED INDIVIDUALS. THAT COMPENSATION CONSULTANT WILL USE COMPARABILITY OR BENCHMARKING DATA (BASED ON INDUSTRY SURVEYS) THAT DOCUMENTS THE COMPENSATION OF PERSONS HOLDING SIMILAR POSITIONS IN SIMILAR ORGANIZATIONS. ONCE THE COMPENSATION CONSULTANT HAS MADE ITS RECOMMENDATIONS, ST. JOSEPH'S HEALTH, INC.'S COMPENSATION COMMITTEE MUST APPROVE THE COMPENSATION, WITHOUT INPUT OR VOTING PARTICIPATION BY THE PERSON WHOSE COMPENSATION IS BEING APPROVED OR BY ANY OTHER INDIVIDUAL WITH A CONFLICT OF INTEREST. THE FINAL DETERMINATION IS THEN DOCUMENTED IN COMMITTEE MINUTES. THOSE MINUTES WILL CONTAIN THE TERMS OF THE PROPOSED COMPENSATION, THE DECISIONS OF THOSE INDIVIDUALS WHO VOTED ON THE COMPENSATION, AND THE COMPARABILITY DATA THAT WAS RELIED UPON. THE FINAL DETERMINATION IS THEN DOCUMENTED IN COMMITTEE MINUTES. DECISIONS OF THOSE INDIVIDUALS WHO VOTED ON THE COMPENSATION, AND THE PARTICIPANTS WHO ARE EMPLOYED THROUGHOUT A PLAN YEAR SHALL BE ELIGIBLE THOSE MINUTES WILL CONTAIN THE TERMS OF THE PROPOSED COMPENSATION, THE COMPARABILITY DATA THAT WAS RELIED UPON.
PART I, LINE 4B:
PARTICIPANTS WHO ARE EMPLOYED THROUGHOUT A PLAN YEAR SHALL BE ELIGIBLE FOR THE PLAN CONTRIBUTIONS FOR SUCH PLAN YEAR. PARTICIPANTS WHO ARE HIRED AFTER THE START OF A PLAN YEAR OR WHO BECOME ELIGIBLE FOR PARTICIPATION DURING THE COURSE OF A PLAN YEAR DUE TO PROMOTION SHALL BE ELIGIBLE TO RECEIVE A PRO-RATED SERP CONTRIBUTION. IN 2024, CERTAIN EXECUTIVES PARTICPATED IN THE 457F (SERP) PROGRAM. THE FOLLOWING CONTRIBUTIONS WERE MADE IN 2024 AND ARE REPORTED IN SCHEDULE J, PART II, COL (C): CASWELL SAMMS - $112,695 JENNIFER MENDRZYCKI - $25,988 THE FOLLOWING PAYMENTS WERE MADE IN 2024 AND ARE REPORTED IN SCHEDULE J, PART II, COL (B)(III): CASWELL SAMMS - $52,817 JENNIFER MENDRZYCKI - $38,139

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 partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202543219349312769

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