Housing Corporation Of Arlington
- Assets
- $21.1m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 6
- Location
- Arlington, MA
- Founding
- 06/1990
- Data as of
- 12/2022
- EIN
- 04-2944144
Organization Overview
Housing Corporation Of Arlington is located in Arlington, MA. The organization was established in 1990. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Housing Corporation Of Arlington employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Corporation Of Arlington 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, Housing Corporation Of Arlington generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $5.6m during the year ending 12/2022. While expenses have increased by 17.8% 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
THE HOUSING CORPORATION OF ARLINGTON PROVIDES AND ADVOCATES FOR DECENT, AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME FAMILIES AND INDIVIDUALS IN ARLINGTON AND SURROUNDING COMMUNITIES, WHILE PROMOTING SOCIAL AND ECONOMIC DIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AFFORDABLE HOUSING PROGRAM PROVIDED APARTMENTS AT RENTAL LEVELSBELOW MARKET RATES. THE PROGRAM WAS PROVIDED THROUGH 61 RENTAL UNITSOWNED BY HCA. THIS PROGRAM INCLUDES BOTH DIRECT RENTAL PROPERTY COSTSIN ADDITION TO STAFF TIME AND BACK OFFICE COSTS OF HOUSING CORPORATIONOF ARLINGTON THAT WERE ATTRIBUTABLE TO THE OVERALL AFFORDABLE HOUSINGPROGRAM.
THE AFFORDABLE HOUSING PROGRAM PROVIDED APARTMENTS AT RENTAL LEVELS BELOW MARKET RATES. THE PROGRAM WAS PROVIDED THROUGH 61 RENTAL UNITS OWNED BY HCA. THIS PROGRAM INCLUDES BOTH DIRECT RENTAL PROPERTY COSTS IN ADDITION TO STAFF TIME AND BACK OFFICE COSTS OF HOUSING CORPORATION OF ARLINGTON THAT WERE ATRRIBUTABLE TO THE OVERALL AFFORDABLE HOUSING PROGRAM.
IN 2021, THE HOMELESS PREVENTION PROGRAM PROVIDED GRANTS TO HOUSEHOLDS ON THE VERGE OF BECOMING HOMELESS. THE MAJORITY OF THESE GRANTS WERE USED FOR MOVING EXPENSES, RENT, AND SECURITY DEPOSITS. THE PROGRAM ALSO ASSISTS INDIVIDUALS IN FINDING AFFORDABLE UNITS IN ARLINGTON, ESPECIALLY ADVOCATING FOR TENANTS WITH THE ARLINGTON HOUSING AUTHORITY.
IN 2022, THE HOMELESS PREVENTION PROGRAM PROVIDED GRANTS TO HOUSEHOLDS ON THE VERGE OF BEOMING HOMELESS. THE MAJORITY OF THESE GRANTS WERE USED FOR MOVING EXPENSES, RENT, AND SECURITY DEPOSITS. THE PROGRAM ALSO ASSISTS INDIVIDUALS IN FINDING AFFORDABLE UNITS IN ARLINGTON, ESPECIALLY ADVOCATING FOR TENANTS WITH THE ARLINGTON HOUSING AUTHORITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Nee President | OfficerTrustee | 3 | $0 |
Jonathan Wallach Treasurer | OfficerTrustee | 3 | $0 |
Deirdre Westcott Clerk | OfficerTrustee | 3 | $0 |
Janet Blodgett Director | Trustee | 2 | $0 |
John Cooper Director | Trustee | 2 | $0 |
Mareshia Donald Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Delphi Construction General Contractor | 12/30/21 | $10,340,580 |
Davis Square Architects Architecture | 12/30/21 | $156,961 |
Delphi Construction General Contractor | 12/30/21 | $10,340,580 |
Davis Square Architects Architecture | 12/30/21 | $156,961 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,187,683 |
| All other contributions, gifts, grants, and similar amounts not included above | $577,563 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,765,246 |
| Total Program Service Revenue | $1,113,221 |
| Investment income | $4,331 |
| 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 | $5,055,753 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $81,502 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $131,614 |
| Compensation of current officers, directors, key employees. | $5,264 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $196,068 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,507 |
| Payroll taxes | $26,998 |
| Fees for services: Management | $58,881 |
| Fees for services: Legal | $84,503 |
| Fees for services: Accounting | $90,720 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $345,395 |
| Advertising and promotion | $0 |
| Office expenses | $30,890 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $665,236 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,862 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $601,048 |
| Insurance | $95,831 |
| All other expenses | $0 |
| Total functional expenses | $5,625,008 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $706,194 |
| Savings and temporary cash investments | $196,461 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,349 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $210,420 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,461 |
| Net Land, buildings, and equipment | $14,946,911 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $199,429 |
| Other assets | $5,407,547 |
| Total assets | $21,110,462 |
| Accounts payable and accrued expenses | $508,659 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $57,887 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $20,553,739 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,100,000 |
| Total liabilities | $22,220,285 |
| Net assets without donor restrictions | -$1,109,823 |
| 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 | $21,110,462 |