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← YNS AFFORDABLE HOUSING INC

Form 990 for tax year 2024

Filed by YNS AFFORDABLE HOUSING INC.

Totals

Total revenue
$325,962
Total expenses
$330,111
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$224,497
Investment income
$0
Other revenue
$101,465
Total assets, end of year
$308,519
Total liabilities, end of year
$1,397,953
Net assets or fund balances, end of year
-$1,089,434
Program services expenses (Part IX)
$297,799
Management and general expenses
$32,312
Fundraising expenses
$0
Program service expenses (Part III)
$297,799

Program services were 90.2% 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: RENTAL INCOME

    total $224,497 · related or exempt $224,497

  • 11a · Other revenue: MISCELLANEOUS

    total $101,465 · related or exempt $101,465

  • 11e · Other revenue, total

    $101,465

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $4,569 · program services $4,112 · management and general $457

  • 11c · Fees: accounting

    total $13,000 · program services $11,700 · management and general $1,300

  • 11d · Fees: lobbying

    total $660 · program services $594 · management and general $66

  • 16 · Occupancy

    total $85,285 · program services $76,757 · management and general $8,528

  • 20 · Interest

    total $1,100 · program services $990 · management and general $110

  • 22 · Depreciation, depletion and amortization

    total $17,312 · program services $15,581 · management and general $1,731

  • 24a · Other expenses: RESIDENCE GENERAL ADMIN

    total $86,430 · program services $77,787 · management and general $8,643

  • 24b · Other expenses: CUSTODIAL FEE

    total $55,015 · program services $49,514 · management and general $5,501

  • 24c · Other expenses: MANAGEMENT FEE-RESIDENT

    total $34,142 · program services $30,728 · management and general $3,414

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $16,014 · program services $14,413 · management and general $1,601

  • 24e · All other expenses

    total $16,584 · program services $15,623 · management and general $961

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $51,357 · end of year $43,872

  • 2 · Savings and temporary cash investments

    beginning of year $6,095 · end of year $4,453

  • 4 · Accounts receivable

    beginning of year $22,668 · end of year $102,993

  • 9 · Prepaid expenses and deferred charges

    beginning of year $209 · end of year $216

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

    $807,022

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

    $744,899

  • 10c · Land, buildings and equipment, net

    beginning of year $74,085 · end of year $62,123

  • 15 · Other assets

    beginning of year $94,862 · end of year $94,862

  • 17 · Accounts payable and accrued expenses

    beginning of year $29,025 · end of year $15,974

  • 19 · Deferred revenue

    beginning of year $436 · end of year $608

  • 23 · Secured mortgages and notes payable

    beginning of year $320,275 · end of year $320,275

  • 25 · Other liabilities

    beginning of year $984,825 · end of year $1,061,096

  • 27 · Net assets without donor restrictions

    beginning of year -$1,085,285 · end of year -$1,089,434

Mission and programs · 2024

Mission

TO PROVIDE AFFORDABLE AND SAFE HOUSING TO INDIVIDUALS AND FAMILIES OF NEED WITHIN THE COMMUNITIES OF THE YMCA OF THE NORTH SHORE, INC.

  • THE ORGANIZATION MAINTAINS 68 SINGLE ROOM UNITS OF AFFORDABLE HOUSING FOR THOSE IN NEED AND MEETS THE REQUIRED FEDERAL AND STATE QUALIFICATIONS. THE BUILDING ACTS AS A COMMUNITY AND PROVIDES A SUPPORT SYSTEM FOR THOSE IN NEED.

    Expenses $297,799 · Revenue $227,680

As filed on the 2024 return.

Listed in Part VII

  • Christopher Lovasco

    PRESIDENT

    Total calculated
    $513,027
    From this org
    $0
    From related orgs
    $460,166
    Other
    $52,861
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $398,223 related
    Bonus
    $0 + $56,000 related
    Other
    $0 + $5,943 related
    Deferred
    $0 + $33,653 related
    Nontaxable benefits
    $0 + $19,208 related
    Filer's total
    $0 + $513,027 related

  • Brandon Ruggieri

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jennifer Buras

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Michael Wheeler

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Kevin McCarthy

    DIRECTOR

    Total calculated
    $344,064
    From this org
    $0
    From related orgs
    $293,295
    Other
    $50,769
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $267,771 related
    Bonus
    $0 + $24,900 related
    Other
    $0 + $624 related
    Deferred
    $0 + $31,561 related
    Nontaxable benefits
    $0 + $19,208 related
    Filer's total
    $0 + $344,064 related

  • Bob Eastman

    CLERK

    Total calculated
    $0
    Hours/week
    1 + 2 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 partnerships

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

  • POWDER HOUSE VILLAGE LP

    RELATED · LOW INCOME HOUSING · MA · 99.98% owned · share of income -$98,284 · share of assets $8,776,750

    Directly controlled by YNS AFFORDABLE HOUSING INC

  • WINTER STREET HOUSING LP

    RELATED · LOW INCOME HOUSING · MA · 99.99% owned · share of income -$282,385 · share of assets $3,261,764

    Directly controlled by YNS AFFORDABLE HOUSING INC

  • CABOT HOUSING LLC

    RELATED · LOW INCOME HOUSING · MA · 0.01% owned · share of income -$32 · share of assets $902 · general or managing partner

    Directly controlled by CABOT HOUSING MM LLC

Related corporations and trusts

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

  • CABOT HOUSING MM LLC

    C · LOW INCOME HOUSING · MA · 55% owned · share of income -$893 · share of assets -$129

    Directly controlled by YNS AFFORDABLE HOUSING INC

Provenance

Return type
form_990
Tax year
2024
Filed
24 June 2025
IRS schema version
2024v5.1
Source object
202521789349301102

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