437 Essex Inc
- Assets
- $5.1m
- Revenue
- $928.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Beverly, MA
- Founding
- 09/1979
- Data as of
- 06/2024
- EIN
- 04-2679253
Organization Overview
437 Essex Inc is located in Beverly, MA. The organization was established in 1979. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. As of 06/2024, 437 Essex Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 437 Essex 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 06/2024, 437 Essex Inc generated $928.1k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $799.7k during the year ending 06/2024. While expenses have increased by 1.5% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
RENTAL TO OTHER EXEMPT ORGANIZATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTALS OF BUILDINGS AND MOTOR VEHICLES TO EXEMPT ORGANIZATIONS PROVIDING DAY ACTIVITY PROGRAMS AND RESIDENTIAL PROGRAMS TO RETARDED ADULTS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald Hall President | Officer | 0 | $0 |
Gail Hall Treasurer | Officer | 0 | $0 |
Peter Roy Clerk | Officer | 0 | $0 |
J Gerard Roy Director | Trustee | 0 | $0 |
Edward Lomasney Director | Trustee | 0 | $0 |
Edward Potvin Executive Director | Trustee | 30 | $71,027 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,500 |
| Total Program Service Revenue | $864,812 |
| Investment income | $6,131 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $29,701 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $928,144 |
| 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. | $71,027 |
| Compensation of current officers, directors, key employees. | $17,757 |
| Compensation to disqualified persons | $48,803 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,643 |
| Payroll taxes | $9,237 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,000 |
| Fees for services: Accounting | $15,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,979 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $83,206 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $366,660 |
| Insurance | $133,428 |
| All other expenses | $0 |
| Total functional expenses | $799,741 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $199,365 |
| Savings and temporary cash investments | $11,031 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $87,000 |
| 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 | $18,324 |
| Net Land, buildings, and equipment | $4,498,238 |
| Investments—publicly traded securities | $305,357 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,119,315 |
| Accounts payable and accrued expenses | $21,612 |
| Grants payable | $0 |
| Deferred revenue | $30,530 |
| 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 | $1,180,034 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $129,170 |
| Total liabilities | $1,361,346 |
| Net assets without donor restrictions | $3,757,969 |
| Net assets with donor restrictions | $0 |
| 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 | $5,119,315 |