Homestead Inc Of Nantucket
- Assets
- $5.4m
- Revenue
- $2.0m
- Investments
- $379.0k
- Employees
- 9
- Location
- Nantucket, MA
- Founding
- 05/1940
- Data as of
- 07/2022
- EIN
- 04-2103831
Organization Overview
Homestead Inc Of Nantucket is located in Nantucket, MA. The organization was established in 1940. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 07/2022, Homestead Inc Of Nantucket employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homestead Inc Of Nantucket is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 07/2022, Homestead Inc Of Nantucket generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.9% each year . All expenses for the organization totaled $652.5k during the year ending 07/2022. While expenses have increased by 1.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ROOM AND BOARD TO ELDERLY RESIDENTS OF THE COMMUNITY IN A HOME FOR THE AGED
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ROOM & BOARD TO RESIDENTS OF A HOME FOR THE AGED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan Bunting President | Officer | 0 | $0 |
Diane O'neil Vice President | Officer | 0 | $0 |
John Stackpole Treasurer | Officer | 0 | $0 |
Linda Roberts 2nd Vice President | Officer | 0 | $0 |
Mary Haley Clerk | Officer | 0 | $0 |
Susan Conway Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,062 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $155,901 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $173,963 |
| Total Program Service Revenue | $265,464 |
| Investment income | $105,704 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,404,231 |
| Net Income from Fundraising Events | $29,018 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,978,380 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $354,244 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,620 |
| Payroll taxes | $25,829 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $553 |
| Office expenses | $11,161 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,079 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,603 |
| Insurance | $27,047 |
| All other expenses | $2,611 |
| Total functional expenses | $652,495 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,849 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,608 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $17,055 |
| Net Land, buildings, and equipment | $532,077 |
| Investments—publicly traded securities | $4,443,433 |
| Investments—other securities | $379,038 |
| Investments—program-related | $0 |
| Intangible assets | $3,778 |
| Other assets | $0 |
| Total assets | $5,426,838 |
| Accounts payable and accrued expenses | $16,764 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $16,764 |
| Net assets without donor restrictions | $5,019,447 |
| Net assets with donor restrictions | $390,627 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,426,838 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Homestead Inc Of Nantucket has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Judith B Phelan And Richard S Phelan Fam Foundation Inc Germantown, NY PURPOSE: GENERAL PURPOSE | $5,000 |
Endowment Analysis
| Beg. Balance | $286,106 |
| Ending Balance | $286,106 |
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|---|---|---|
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