Goddard Homestead Inc
- Assets
- $13.3m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 141
- Location
- Worcester, MA
- Founding
- 05/1988
- Data as of
- 12/2023
- EIN
- 04-2943796
Organization Overview
Goddard Homestead Inc is located in Worcester, MA. The organization was established in 1988. 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 12/2023, Goddard Homestead Inc employed 141 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Goddard Homestead 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, Goddard Homestead Inc generated $3.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $3.9m during the year ending 12/2023. While expenses have increased by 4.9% 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
TO PROVIDE HOMES AND SUPPORT SERVICES FOR RETIRED AND ELDERLY INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING HOMES AND SUPPORT SERVICES FOR RETIRED AND ELDERLY INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher L Salter President/trustee | OfficerTrustee | 2 | $0 |
Thomas V Rouvina Treasurer/trustee | OfficerTrustee | 2 | $0 |
John Paul Plouffee Clerk/trustee | OfficerTrustee | 2 | $0 |
Margaret Clancey Trustee | Trustee | 2 | $0 |
Angela Penny Trustee | Trustee | 2 | $0 |
John F Woods Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ega Architects Pc Architect | 12/30/22 | $631,826 |
Onepoint Partners Development Advisor | 12/30/22 | $275,000 |
The Engineering Corp Engineering Advisor | 12/30/22 | $143,931 |
Rally Marketing Advisor | 12/30/22 | $136,280 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $454,197 |
| All other contributions, gifts, grants, and similar amounts not included above | $28,739 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $482,936 |
| Total Program Service Revenue | $3,293,643 |
| Investment income | $98,053 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $19,100 |
| Net Gain/Loss on Asset Sales | -$7,983 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,914,555 |
| 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. | $122,856 |
| Compensation of current officers, directors, key employees. | $122,856 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,030,845 |
| Pension plan accruals and contributions | $16,274 |
| Other employee benefits | $238,854 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,387 |
| Fees for services: Other | $0 |
| Advertising and promotion | $36,919 |
| Office expenses | $33,956 |
| 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 | $69,257 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $74,097 |
| Insurance | $125,408 |
| All other expenses | $140,424 |
| Total functional expenses | $3,865,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $878 |
| Savings and temporary cash investments | $235,865 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $4,912,153 |
| Investments—publicly traded securities | $26,872 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,077,667 |
| Total assets | $13,253,435 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $7,500,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $100,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $207,182 |
| Total liabilities | $7,807,182 |
| Net assets without donor restrictions | $1,594,250 |
| Net assets with donor restrictions | $3,852,003 |
| 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 | $13,253,435 |