North Shore Community Development Coalition Inc
- Assets
- $26.6m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 39
- Location
- Salem, MA
- Founding
- 10/1980
- Data as of
- 12/2022
- EIN
- 04-2686893
Organization Overview
North Shore Community Development Coalition Inc is located in Salem, MA. The organization was established in 1980. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, North Shore Community Development Coalition Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Shore Community Development Coalition 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 12/2022, North Shore Community Development Coalition Inc generated $5.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $4.8m during the year ending 12/2022. While expenses have increased by 5.6% 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
TO INVEST IN NEIGHBORHOODS TO CREATE THRIVING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH PROGRAMS - THE MAJOR COMPONENT OF THE YOUTH PROGRAMS IS YOUTHBUILD-NORTH SHORE, A WORKFORCE AND LEADERSHIP DEVELOPMENT PROGRAM WHICH PROVIDES ACADEMIC AND WORKFORCE TRAINING TO OUT-OF-SCHOOL YOUTH, AGES 16 TO 24. PROGRAM ACTIVITIES ARE PROVIDED THROUGHOUT THE AGENCY'S SERVICE AREA IN CITIES SUCH AS SALEM, BEVERLY, PEABODY, GLOUCESTER AND LYNN.
RENTAL HOUSING - THE RENTAL HOUSING DIVISION OPERATES RESIDENTIAL APARTMENTS WHICH PROVIDE AFFORDABLE RENTAL OPPORTUNITIES FOR PERSONS OF LOW TO MODERATE INCOME. THIS DIVISION ALSO OPERATES COMMERCIAL UNITS, PROVIDING AFFORDABLE RENTS FOR LOCAL BUSINESSES.
REAL ESTATE DEVELOPMENT - NSCDC DEVELOPS AFFORDABLE HOUSING IN SALEM AND SURROUNDING CITIES AND TOWNS. COSTS DIRECTLY ATTRIBUTABLE TO A SPECIFIC PROJECT ARE CAPITALIZED AND RECORDED AS REAL ESTATE PROJECT DEVELOPMENT COSTS ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. COSTS NOT DIRECTLY ATTRIBUTABLE TO A SPECIFIC PROJECT ARE EXPENSED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Nitkiewicz President | OfficerTrustee | 1 | $0 |
Mikki Wilson Vice President | OfficerTrustee | 1 | $0 |
Faith Glickman Rossi Treasurer | OfficerTrustee | 1 | $0 |
Diana Moreno Clerk | OfficerTrustee | 1 | $0 |
Kurt Ankeny-Beauchamp Director (outgoing) | Trustee | 1 | $0 |
Brian Castellanos Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $65,203 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $376,150 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,746,712 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,188,065 |
| Total Program Service Revenue | $2,758,628 |
| Investment income | $0 |
| 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 | $4,973,173 |
| 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. | $220,319 |
| Compensation of current officers, directors, key employees. | $55,925 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,021,662 |
| Pension plan accruals and contributions | $1,289 |
| Other employee benefits | $236,191 |
| Payroll taxes | $146,476 |
| Fees for services: Management | $30,840 |
| Fees for services: Legal | $12,822 |
| Fees for services: Accounting | $220,952 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $34,764 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $267,040 |
| Advertising and promotion | $35,237 |
| Office expenses | $410,874 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $673,447 |
| 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 | $232,827 |
| Insurance | $0 |
| All other expenses | $222,939 |
| Total functional expenses | $4,767,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,139,477 |
| Savings and temporary cash investments | $1,907 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,951,597 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,308,806 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,646 |
| Net Land, buildings, and equipment | $7,149,893 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $176,799 |
| Intangible assets | $6,120,560 |
| Other assets | $4,720,858 |
| Total assets | $26,601,543 |
| Accounts payable and accrued expenses | $962,470 |
| Grants payable | $0 |
| Deferred revenue | $8,280 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $63,497 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,188,915 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,398,305 |
| Total liabilities | $18,621,467 |
| Net assets without donor restrictions | $7,680,076 |
| Net assets with donor restrictions | $300,000 |
| 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 | $26,601,543 |