Harborlight Community Partners
- Assets
- $40.1m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 46
- Location
- Beverly, MA
- Founding
- 02/1982
- Data as of
- 12/2022
- EIN
- 04-2313571
Organization Overview
Harborlight Community Partners is located in Beverly, MA. The organization was established in 1982. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Harborlight Community Partners employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harborlight Community Partners 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 12/2022, Harborlight Community Partners generated $8.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $3.9m during the year ending 12/2022. While expenses have increased by 2.9% per year over the past 8 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
HARBORLIGHT COMMUNITY PARTNERS PROVIDES AFFORDABLE HOUSING WITH SERVICES PRIMARILY FOR LOW AND MODERATE INCOME POPLE IN SOURTHERN ESSEX COUNTY, IN ADDITION, IT PROVIDES PROVIDES PROPERTY MANAGEMENT AND OTHER SERVICES TO NON-PROFIT ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGED AND/OR DEVELOPED AFFORDABLE HOUSING FOR OVER 500 LOW AND MODERATE INCOME PEOPLE IN ESSEX COUNTY. THIS INCLUDES TURTLE CREEK, TURTLE WOODS, HARBORLIGHT HOUSE, HEART HOMES, WE CARE ABOUT HOMES, WHIPPLE RIVERVIEW PLACE,COTTON MILL COOP, ROCKPORT HIGH SCHOOL, PIGEON COVE LEDGES, AND FIREHOUSE PLACE. IT ALSO INCLUDED DEVELOPMENT WORK FOR MAPLE WOODS, GRANITE STREET CROSSING, ANCHOR POINT AND BOSTON STREET CROSSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abu Poppin Director | Trustee | 1 | $0 |
Alan Temkin Director | Trustee | 1 | $0 |
Bill Scanlon Director | Trustee | 1 | $0 |
Christine Madore Director | Trustee | 1 | $0 |
Cynthia Nina-Soto Director | Trustee | 1 | $0 |
Dane Poeske Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Groom Construction Co Inc Construction | 12/30/17 | $1,028,635 |
Regnante Sterio & Osborne Llp Legal | 12/30/17 | $154,393 |
Siemasko & Verbridge Inc Architectural Services | 12/30/17 | $116,347 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $130,377 |
| Related organizations | $0 |
| Government grants | $753,053 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,385,761 |
| Noncash contributions included in lines 1a–1f | $1,609,134 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,269,191 |
| Total Program Service Revenue | $4,142,376 |
| Investment income | $113,113 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,197 |
| Net Gain/Loss on Asset Sales | $111,249 |
| Net Income from Fundraising Events | -$28,894 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,936,259 |
| 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. | $617,490 |
| Compensation of current officers, directors, key employees. | $7,452 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,339,518 |
| Pension plan accruals and contributions | $14,708 |
| Other employee benefits | $77,041 |
| Payroll taxes | $169,731 |
| Fees for services: Management | $29,883 |
| Fees for services: Legal | $3,749 |
| Fees for services: Accounting | $56,180 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $68,000 |
| Fees for services: Investment Management | $25,578 |
| Fees for services: Other | $105,154 |
| Advertising and promotion | $51,245 |
| Office expenses | $117,103 |
| Information technology | $635 |
| Royalties | $0 |
| Occupancy | $186,933 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,025 |
| Interest | $145,310 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $356,364 |
| Insurance | $86,653 |
| All other expenses | $182,714 |
| Total functional expenses | $3,879,686 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,163,687 |
| Savings and temporary cash investments | $152,370 |
| Pledges and grants receivable | $580,858 |
| Accounts receivable, net | $253,660 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,498,244 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $135,843 |
| Net Land, buildings, and equipment | $19,260,527 |
| Investments—publicly traded securities | $3,377,574 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $107,012 |
| Other assets | $5,616,009 |
| Total assets | $40,145,784 |
| Accounts payable and accrued expenses | $1,927,155 |
| Grants payable | $0 |
| Deferred revenue | $2,095 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $37,551 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $20,583,063 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,735,716 |
| Total liabilities | $25,285,580 |
| Net assets without donor restrictions | $11,449,784 |
| Net assets with donor restrictions | $3,410,420 |
| 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 | $40,145,784 |