Form 990 for tax year 2022

Filed by COMMUNITY DEVELOPMENT INC.

Totals

Total revenue: $1,808,385
Total expenses: $459,544
Contributions and grants received: $0
Grants paid: $328,934
Program service revenue: $1,808,385
Investment income: $0
Other revenue: $0
Total assets, end of year: $1,813,777
Total liabilities, end of year: $247,273
Net assets or fund balances, end of year: $1,566,504
Program services expenses (Part IX): $451,221
Management and general expenses: $8,323
Fundraising expenses: $0
Program service expenses (Part III): $451,221

Program services were 98.2% 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.

2a · Program service revenue: RECOVERY OF BAD DEBT

total $1,365,689 · related or exempt $1,365,689
2b · Program service revenue: GROUND LEASE AND RELAT

total $223,400 · related or exempt $223,400
2c · Program service revenue: INTEREST ON NOTES RECE

total $219,296 · related or exempt $219,296

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $328,934 · program services $328,934
24a · Other expenses: BAD DEBT

total $121,870 · program services $121,870
24b · Other expenses: OPERATING EXPENSES

total $8,240 · program services $417 · management and general $7,823
24c · Other expenses: TAXES, PERMITS AND LICE

total $500 · management and general $500

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $27,566 · end of year $38,032
4 · Accounts receivable

beginning of year $19 · end of year $38
7 · Other notes and loans receivable

beginning of year $416,871 · end of year $1,746,944
14 · Intangible assets

end of year $28,763
17 · Accounts payable and accrued expenses

beginning of year $23,650 · end of year $16,150
25 · Other liabilities

beginning of year $203,143 · end of year $231,123
27 · Net assets without donor restrictions

beginning of year $217,663 · end of year $1,566,504

Mission and programs · 2022

Mission

COMMUNITY DEVELOPMENT, INC. (THE CORPORATION) IS A NONPROFIT ORGANIZATION ESTABLISHED TO ACQUIRE, IMPROVE (THROUGH REHABILITATION, NEW CONSTRUCTION, OR OTHERWISE) AND TO MAKE AVAILABLE AFFORDABLE HOUSING TO PERSONS AND FAMILIES WITH LOW AND MODERATE INCOMES; TO ACQUIRE, OWN AND DISPOSE OF PARTNERSHIP OR MEMBERSHIP INTERESTS IN LIMITED PARTNERSHIPS (LPS) OR LIMITED LIABILITY COMPANIES (LLCS) AND STOCK IN CORPORATIONS PROVIDING HOUSING FOR THE BENEFIT OF PERSONS AND FAMILIES AS DEFINED ABOVE; TO PROMOTE SOCIAL WELFARE AND COMBAT COMMUNITY DETERIORATION BY IMPROVING EXISTING PROPERTY OR CREATING NEW FACILITIES WITHIN BLIGHTED, DECAYED, OR SUBSTANDARD AREAS; AND TO PROVIDE OFFICE FACILITIES TO OTHER NONPROFIT ORGANIZATIONS AT BELOW COST IN ORDER TO ASSIST THOSE ORGANIZATIONS IN ACCOMPLISHING THEIR CHARITABLE PURPOSES.

COMMUNITY DEVELOPMENT, INC. (CDI) IS A CHARITABLE CORPORATION THAT WAS ESTABLISHED ON MAY 29, 1987 UNDER THE PROVISIONS OF GENERAL LAWS, CHAPTER 180 OF THE COMMONWEALTH OF MASSACHUSETTS. THE PRIMARY PURPOSES OF CDI ARE TO ACQUIRE, IMPROVE AND MAKE HOUSING AVAILABLE TO PERSONS AND FAMILIES OF LOW INCOMES, TO PROMOTE SOCIAL WELFARE AND COMBAT COMMUNITY DETERIORATION BY IMPROVING EXISTING PROPERTY OR CREATING NEW FACILITIES THAT PROMOTE ECONOMIC DEVELOPMENT IN BLIGHTED, DECAYED OR SUBSTANDARD AREAS; AND TO PROVIDE OFFICES AND RELATED FACILITIES FOR NONPROFIT CHARITABLE ORGANIZATIONS BELOW MARKET RATES TO ASSIST THE ORGANIZATIONS IN ACCOMPLISHING THEIR CHARITABLE PURPOSES.

Expenses $451,221 · Grants $328,934 · Revenue $1,808,385

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

Listed in Part VII

Hetal GadaHETAL GADA

ASSISTANT TREASURER

Total calculated

$0

Hours/week

0.1
James RushfordJAMES RUSHFORD

ASSISTANT CLERK

Total calculated

$0

Hours/week

0.1
Nina SchwarzschildNINA SCHWARZSCHILD

TREASURER/DIRECTOR

Total calculated

$0

Hours/week

0.1
Phillip L ClayPHILLIP L CLAY

PRESIDENT/DIRECTOR

Total calculated

$0

Hours/week

0.1
Russell TannerRUSSELL TANNER

CLERK/DIRECTOR

Total calculated

$0

Hours/week

0.1

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

THE COMMUNITY BUILDERS INC

$328,934

LOW INCOME HOUSING

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.

CHAUNCY HOUSE LIMITED PARTNERSHIP

RELATED · LOW INCOME HOUSING · MA · 99.99% owned · share of income $29,705 · share of assets $1,016,402

Directly controlled by COMMUNITY DEVELOPMENT INC
NB HOMES URBAN RENEWAL LP

RELATED · LOW INCOME HOUSING · NJ · 99.99% owned · share of income -$579,968 · share of assets $6,256,779

Directly controlled by COMMUNITY DEVELOPMENT INC
NEW HOPE URBAN RENEWAL LIMITED PARTNERSHIP

RELATED · LOW INCOME HOUSING · MA · 99.99% owned · share of income $5,670,416 · share of assets $18,607,620

Directly controlled by COMMUNITY DEVELOPMENT INC
SALEM HEIGHTS II PRESERVATION ASSOCIATES LP

LOW INCOME HOUSING · MA · general or managing partner
TCB PERRY STREET LIMITED PARTNERSHIP

RELATED · LOW INCOME HOUSING · MA · 99.99% owned · share of income -$29,823 · share of assets $812,392

Directly controlled by COMMUNITY DEVELOPMENT INC

Related corporations and trusts

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

SEVER STREET MM LLC

C · LOW INCOME HOUSING · MA · 51% owned · share of assets -$56 · controlled entity

Directly controlled by COMMUNITY DEVELOPMENT INC
POAH SALEM HEIGHTS II LLC

C · LOW INCOME HOUSING · MA · 71% owned · controlled entity

Directly controlled by COMMUNITY DEVELOPMENT INC

Provenance

Return type: form_990
Tax year: 2022
Filed: 8 December 2023
IRS schema version: 2022v5.0
Source object: 202313469349300826

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