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Nonprofiteer
← 419 WALNUT INC

Form 990 for tax year 2022

Filed by 419 WALNUT INC.

Totals

Total revenue
$417,045
Total expenses
$710,174
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$413,864
Investment income
$3,181
Other revenue
$0
Total assets, end of year
$8,877,978
Total liabilities, end of year
$4,590,353
Net assets or fund balances, end of year
$4,287,625
Program services expenses (Part IX)
$661,429
Management and general expenses
$48,745
Fundraising expenses
$0
Program service expenses (Part III)
$661,429

Program services were 93.1% 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 $410,950 · related or exempt $410,950

  • 2b · Program service revenue: LAUNDRY INCOME

    total $2,914 · related or exempt $2,914

  • 3 · Investment income

    total $3,181 · excluded $3,181

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $68,550 · program services $68,550

  • 11a · Fees: management

    total $32,963 · management and general $32,963

  • 11b · Fees: legal

    total $7,805 · program services $7,805

  • 11c · Fees: accounting

    total $15,782 · management and general $15,782

  • 13 · Office expenses

    total $7,992 · program services $7,992

  • 14 · Information technology

    total $5,077 · program services $5,077

  • 16 · Occupancy

    total $142,075 · program services $142,075

  • 22 · Depreciation, depletion and amortization

    total $278,882 · program services $278,882

  • 23 · Insurance

    total $38,006 · program services $38,006

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $109,605 · program services $109,605

  • 24b · Other expenses: BAD DEBTS

    total $1,822 · program services $1,822

  • 24c · Other expenses: MISC. TAXES AND PERMITS

    total $1,308 · program services $1,308

  • 24d · Other expenses: PAYROLL PROCESSING FEE

    total $307 · program services $307

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,317 · end of year $4,101

  • 4 · Accounts receivable

    beginning of year $10,187 · end of year $27,757

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,809 · end of year $14,013

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

    $10,572,482

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

    $2,189,127

  • 10c · Land, buildings and equipment, net

    beginning of year $8,631,665 · end of year $8,383,355

  • 14 · Intangible assets

    beginning of year $43,813

  • 15 · Other assets

    beginning of year $440,665 · end of year $448,752

  • 17 · Accounts payable and accrued expenses

    beginning of year $243,050 · end of year $323,138

  • 23 · Secured mortgages and notes payable

    beginning of year $4,293,737 · end of year $4,251,136

  • 25 · Other liabilities

    beginning of year $15,915 · end of year $16,079

  • 27 · Net assets without donor restrictions

    beginning of year -$1,107,846 · end of year -$1,400,975

  • 28 · Net assets with donor restrictions

    beginning of year $5,688,600 · end of year $5,688,600

Mission and programs · 2022

Mission

TO PROVIDE ELDERLY AND LOW-INCOME PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SAFETY, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING.

Activities or mission (Part I)

TO PROVIDE ELDERLY AND LOW-INCOME PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS AND TO PROMOTE THEIR HEALTH, SAFETY, SECURITY, HAPPINESS AND USEFULLNESS IN LONGER LIVING.

  • THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS WHICH QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN PURSUANCE OF THE FOREGOING PURPOSES, THE CORPORATION PROVIDES ELDERLY PERSONS AND LOW-INCOME PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SAFETY, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING. THE CHARGES FOR SUCH FACILITIES AND SERVICES ARE TO BE PREDICATED UPON THE PROVISION, MAINTENANCE, AND OPERATION THEREOF ON A NONPROFIT BASIS. THE PROJECT CONSISTS OF 37 LOW-INCOME UNITS TO HOUSE THE ELDERLY LOCATED IN ROXBURY, MA AND OPERATES UNDER THE NAME OF SPENCER HOUSE II.

    Expenses $661,429 · Revenue $413,864

As filed on the 2022 return.

Listed in Part VII

  • Cheryl Dorsey

    TREASURER

    Total calculated
    $0
    Hours/week
    0.15

  • Marie E Coleman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.15

  • Marilyn Flowers Marion

    ASST. CLERK

    Total calculated
    $0
    Hours/week
    0.15

  • Nancy Emerson-Lombardo

    CLERK

    Total calculated
    $0
    Hours/week
    0.15

  • Rudolph R Russell Jr

    CO-PRESIDENT

    Total calculated
    $0
    Hours/week
    0.15

  • Victoria Williams

    CO-PRESIDENT

    Total calculated
    $0
    Hours/week
    0.15

  • Royal L Bolling Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.15

  • Louis A Elisa II

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.15

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.

  • 2055 COLUMBUS AVENUE LP

    RELATED · ELDERLY HSG · MA

    Directly controlled by NONE

  • WALNUT HOUSE LLC

    RELATED · ELDERLY HSG · MA

    Directly controlled by NONE

Related corporations and trusts

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

  • 2055 COLUMBUS AVENUE INC

    C · ELDERLY HSG · MA

    Directly controlled by FORWARD INC

Provenance

Return type
form_990
Tax year
2022
Filed
18 October 2023
IRS schema version
2022v5.0
Source object
202323149349304022

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