Cambridge Homes
- Assets
- $33.7m
- Revenue
- $5.5m
- Investments
- $30.0m
- Employees
- 0
- Location
- Cambridge, MA
- Founding
- 05/1918
- Data as of
- 06/2022
- EIN
- 04-2103958
Organization Overview
Cambridge Homes is located in Cambridge, MA. The organization was established in 1918. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cambridge Homes 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 06/2022, Cambridge Homes generated $5.5m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $4.5m during the year ending 06/2022. While expenses have increased by 2.4% per year over the past 3 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CAMBRIDGE HOMES SERVICES SENIORS THROUGHOUT THE CITY OF CAMBRIDGE, MA AND NEIGHBORING TOWNS, PROVIDING RENT SUBSIDIES TO LOW INCOME RESIDENTS IN ITS 44 UNIT ASSISTED LIVING FACILITY. APPROXIMATELY ONE-THIRD OF THE RESIDENTS ARE LOW INCOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arch Horst Board Chair | 1.5 | $0 | |
Jane White Treasurer (to 5/22) | 1.5 | $0 | |
David Strachan Treasurer (as Of 5/22) | 1 | $0 | |
Owen Walker Secretary | 1 | $0 | |
Charles Reed Director (to 5/22) | 1 | $0 | |
Rachel Cobb Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Senior Living Residences Llc | 6/29/22 | $561,234 |
Merrill Lynch | 6/29/22 | $231,424 |
Thomas N Proia | 6/29/22 | $58,026 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $76,107 |
| Interest on Savings | $286 |
| Dividends & Interest | $701,971 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,252,461 |
| Capital Gain Net Income | $1,252,461 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,423,239 |
| Total Revenue | $5,454,064 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $1,620,244 |
| Pension plans, employee benefits | $432,752 |
| Interest | $0 |
| Taxes | $202,233 |
| Depreciation | $394,301 |
| Occupancy | $391,469 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $681,752 |
| Total operating and administrative expenses | $4,505,576 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $4,505,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $578,834 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $70 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $112,079 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $2,912,816 |
| Other assets | $123,644 |
| Total assets | $33,709,057 |
| Accounts payable and accrued expenses | $263,812 |
| Grants payable | $0 |
| Deferred revenue | $366,341 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $630,153 |