Hubbardston Elderly Housing Inc
- Assets
- $3.7m
- Revenue
- $517.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Worcester, MA
- Founding
- 09/1983
- Data as of
- 10/2020
- EIN
- 04-2799669
Organization Overview
Hubbardston Elderly Housing Inc is located in Worcester, MA. The organization was established in 1983. 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. Hubbardston Elderly Housing 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 10/2020, Hubbardston Elderly Housing Inc generated $517.9k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $613.3k during the year ending 10/2020. While expenses have increased by 0.6% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO ACQUIRE, CONSTRUCT, REHABILITATE AND OPERATE 36 UNITS OF AFFORDABLE RESIDENTIAL HOUSING FOR ELDERLY PERSONS LOCATED IN HUBBARDSTON, MASSACHUSETTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AFFORDABLE RESIDENTIAL HOUSING FOR ELDERLY PERSONS LOCATED IN HUBBARDSTON, MASSACHUSETTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Minkle President/treasurer (thru 8/2/2020) | Officer | 0.1 | $0 |
Deborah A Foley Clerk/resident Agent | Officer | 0.1 | $0 |
Karen Koller President/ceo | Officer | 0.1 | $0 |
Judie O'donnell Director | Trustee | 0.1 | $0 |
Kevin O'connor Director | Trustee | 0.1 | $0 |
Todd Fitzgerald Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $359,786 |
| Investment income | $24 |
| 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 | $517,907 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $33,551 |
| Fees for services: Legal | $340 |
| Fees for services: Accounting | $10,162 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $92,974 |
| Advertising and promotion | $54 |
| Office expenses | $21,052 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $247,536 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $686 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $170,943 |
| Insurance | $2,696 |
| All other expenses | $0 |
| Total functional expenses | $613,302 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,036 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,659 |
| 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 | $35,250 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $73,189 |
| Total assets | $3,693,333 |
| Accounts payable and accrued expenses | $55,630 |
| Grants payable | $0 |
| Deferred revenue | $3,918 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $13,472 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,892,048 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,965,068 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,728,265 |
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