Berkshire Fund Inc
- Assets
- $28.9m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Pittsfield, MA
- Founding
- 01/1973
- Data as of
- 12/2023
- EIN
- 04-2483221
Organization Overview
Berkshire Fund Inc is located in Pittsfield, MA. The organization was established in 1973. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Berkshire Fund Inc 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 12/2023, Berkshire Fund Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $3.3m during the year ending 12/2023. While expenses have increased by 12.0% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SECOND MORTGAGES TO FIRST TIME HOMEBUYERS, REHABILITATION OF DETERIORATED HOUSING AND OPERATION OF RENTAL HOUSING FOR SINGLE PARENTS, THEIR CHILDREN AND LOW INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF RENTAL HOUSING FOR LOW INCOME INDIVIDUALS.
OPERATION OF RENTAL HOUSING FOR SINGLE PARENTS AND THEIR CHILDREN.
PROVIDE SECOND MORTGAGES TO FIRST TIME HOMEBUYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Crystal Garneau Board Member | Trustee | 0 | $0 |
John Graham III Treasurer | OfficerTrustee | 0 | $0 |
Anthony Doyle President | OfficerTrustee | 0 | $0 |
Catherine Carchedi Clerk | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $36,667 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,667 |
| Total Program Service Revenue | $2,438,248 |
| Investment income | $178,113 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,688,891 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $349,000 |
| Grants and other assistance to domestic individuals. | $41,358 |
| 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 | $379,421 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $54,512 |
| Payroll taxes | $21,936 |
| Fees for services: Management | $120,061 |
| Fees for services: Legal | $1,174 |
| Fees for services: Accounting | $16,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $59,689 |
| Advertising and promotion | $2,340 |
| Office expenses | $28,568 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $299,594 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $753,756 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $505,928 |
| Insurance | $132,471 |
| All other expenses | $167,797 |
| Total functional expenses | $3,345,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $557,023 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $624,629 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,239,940 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,499 |
| Net Land, buildings, and equipment | $9,720,538 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,956,500 |
| Intangible assets | $5,000 |
| Other assets | $1,798,668 |
| Total assets | $28,941,797 |
| Accounts payable and accrued expenses | $390,426 |
| Grants payable | $0 |
| Deferred revenue | $16,026 |
| 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 | $8,848,130 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,424,213 |
| Total liabilities | $15,678,795 |
| Net assets without donor restrictions | $13,196,414 |
| Net assets with donor restrictions | $66,588 |
| 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 | $28,941,797 |