Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: PROGRAM SERVICES

  total $33,694,831 · related or exempt $33,694,831

• 3 · Investment income

  total $2,078,661 · unrelated business $926 · excluded $2,077,735

• 6a · Gross rents

  real property $404,682

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $404,682

• 6d · Net rental income or loss

  total $404,682 · unrelated business $106,197 · excluded $298,485

• 7a · Gross sales of assets other than inventory

  securities $3,090,252 · other assets $54,938

• 7b · Less cost or other basis and sales expenses

  securities $3,523,860 · other assets $55,237

• 7c · Gain or loss

  securities -$433,608 · other assets -$299

• 7d · Net gain or loss

  total -$433,907 · excluded -$433,907

• 11a · Other revenue: ADMIN. SERVICES

  total $256,139 · unrelated business $256,139

• 11b · Other revenue: ADVERTISING INCOME

  total $46,038 · unrelated business $46,038

• 11e · Other revenue, total

  $302,177

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $33,825 · program services $33,825

• 5 · Compensation of officers, directors and key employees

  total $953,854 · management and general $953,854

• 7 · Other salaries and wages

  total $2,082,884 · program services $1,446,702 · management and general $636,182

• 8 · Pension plan contributions

  total $120,273 · program services $85,792 · management and general $34,481

• 9 · Other employee benefits

  total $138,851 · program services $40,970 · management and general $97,881

• 10 · Payroll taxes

  total $132,374 · program services $73,043 · management and general $59,331

• 11a · Fees: management

  total $147,159 · program services $48,559 · management and general $98,600

• 11b · Fees: legal

  total $233,428 · program services $69,080 · management and general $164,348

• 11c · Fees: accounting

  total $75,625 · program services $75,625

• 11f · Fees: investment management

  total $131,188 · management and general $131,188

• 11g · Fees: other

  total $11,655,005 · program services $11,487,021 · management and general $167,984

• 13 · Office expenses

  total $56,013 · program services $40,090 · management and general $15,923

• 16 · Occupancy

  total $10,008,731 · program services $10,006,435 · management and general $2,296

• 17 · Travel

  total $4,101 · program services $3,743 · management and general $358

• 19 · Conferences, conventions and meetings

  total $23,924 · program services $14,728 · management and general $9,196

• 20 · Interest

  total $205,952 · program services $205,952

• 22 · Depreciation, depletion and amortization

  total $2,536,999 · program services $2,488,950 · management and general $48,049

• 23 · Insurance

  total $151,911 · program services $122,358 · management and general $29,553

• 24a · Other expenses: TELEPHONE/UTILITIES

  total $480,931 · program services $399,427 · management and general $81,504

• 24b · Other expenses: EQUIPMENT RENTAL/MAINT.

  total $327,817 · program services $243,615 · management and general $84,202

• 24c · Other expenses: RECRUITING

  total $44,232 · program services $44,232

• 24d · Other expenses: PROPERTY MAINTENANCE

  total $39,770 · program services $39,252 · management and general $518

• 24e · All other expenses

  total $962,118 · program services $859,819 · management and general $102,299

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $10,058,266 · end of year $12,847,772

• 4 · Accounts receivable

  beginning of year $1,694,331 · end of year $1,648,127

• 7 · Other notes and loans receivable

  beginning of year $87,445 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,782,994 · end of year $1,805,930

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

  $53,034,160

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

  $40,027,100

• 10c · Land, buildings and equipment, net

  beginning of year $13,076,180 · end of year $13,007,060

• 11 · Investments: publicly traded securities

  beginning of year $39,048,299 · end of year $46,869,682

• 12 · Investments: other securities

  beginning of year $9,773,387 · end of year $12,236,469

• 15 · Other assets

  beginning of year $75,979,474 · end of year $74,417,509

• 17 · Accounts payable and accrued expenses

  beginning of year $1,550,128 · end of year $1,563,604

• 19 · Deferred revenue

  beginning of year $2,266,102 · end of year $1,578,692

• 20 · Tax-exempt bond liabilities

  beginning of year $1,787,904 · end of year $0

• 24 · Unsecured notes and loans payable

  end of year $6,648,433

• 25 · Other liabilities

  beginning of year $74,278,386 · end of year $72,472,965

• 27 · Net assets without donor restrictions

  beginning of year $71,617,856 · end of year $80,568,855

The filer's explanations (Part III)

PART I, LINE 7

LONGWOOD COLLECTIVE HAS A BONUS INCENTIVE PROGRAM. IN ORDER FOR THE BONUS INCENTIVE TO BE AVAILABLE, LONGWOOD COLLECTIVE MUST MEET ITS FINANCIAL OBJECTIVES FOR THE YEAR AS APPROVED BY THE BOARD AND INDIVIDUALS MUST MEET INDIVIDUAL AND CORPORATE GOALS IN ORDER TO EARN THEIR INCENTIVE. INCENTIVE PAYMENTS WERE APPROVED FOR THE EXECUTIVE STAFF FOR FY'23 AND ACCRUED AS OF JUNE 30, 2023.

Related corporations and trusts

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

• MASCO SERVICES INC

  C · TELECOMMUNICATIONS, GROUP PURCHASING, ADMINISTRATIVE SERVICES · MA · 100% owned · share of income $162,552 · share of assets $4,381,495 · controlled entity