Peace Properties Inc
- Assets
- $4.5m
- Revenue
- $215.3k
- Investments
- $0.0
- Employees
- 0
- Location
- East Boston, MA
- Founding
- 04/2018
- Data as of
- 12/2021
- EIN
- 04-3173140
Organization Overview
Peace Properties Inc is located in East Boston, MA. The organization was established in 2018. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peace Properties 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 12/2021, Peace Properties Inc generated $215.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $273.0k during the year ending 12/2021. While expenses have increased by 8.4% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE DEVELOPMENT OF LOW AND MODERATE INCOME HOUSING PROJECTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT OF LOW AND MODERATE INCOME HOUSING PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Savatsky Vice President | OfficerTrustee | 0.25 | $0 |
Michael Lake President | OfficerTrustee | 0.25 | $0 |
Lauren Demayo CPA Treasurer (left During 2021) | OfficerTrustee | 0.25 | $0 |
Robert Schmidt Clerk | OfficerTrustee | 0.25 | $0 |
Philip R Giffee Executive Director | Officer | 0.25 | $0 |
Vinny Qualtieri Director Of Finance | Officer | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tocci Building Corporation Construction | 12/30/18 | $5,008,436 |
The Narrow Gate Architect | 12/30/18 | $407,681 |
Jonathan Lavash Clerk Of Works | 12/30/18 | $136,728 |
Gza Geoenvironmental Geotech Engineer | 12/30/18 | $130,601 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $147,327 |
| 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 | $215,280 |
| 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. | $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 | $0 |
| Fees for services: Legal | $102,855 |
| Fees for services: Accounting | $3,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,703 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,665 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $37,578 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $55,364 |
| Insurance | $6,506 |
| All other expenses | $0 |
| Total functional expenses | $273,017 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,269 |
| Savings and temporary cash investments | $13,720 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,970 |
| 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 | $580 |
| Net Land, buildings, and equipment | $1,790,594 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,666,428 |
| Total assets | $4,539,561 |
| Accounts payable and accrued expenses | $287,596 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $945,927 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,570,342 |
| Total liabilities | $4,803,865 |
| Net assets without donor restrictions | -$264,304 |
| 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 | $4,539,561 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bny Mellon Charitable Gift Fund Boston, MA | $342,614,894 | $208,280,795 |
Keren Keshet-The Rainbow Foundation New York, NY | $212,134,789 | $28,921,665 |
Roswell Park Alliance Foundation Buffalo, NY | $159,422,911 | $37,424,046 |
World Of Giving Inc Spring Valley, NY | $6,086,190 | $25,054,815 |
Chapel & York Us Foundation Inc New York, NY | $7,715,489 | $28,773,311 |
Give Lively Foundation Inc New York, NY | $21,044,109 | $22,415,300 |
Greater Hartford Community Foundation Inc Hartford, CT | $8,414,279 | $22,150,705 |
Harlem Rbi Incorporated New York, NY | $85,587,058 | $22,268,250 |
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
Imago Dei Fund Boston, MA | $57,020,766 | $29,637,241 |
Boston Charitable Trust Fund Boston, MA | $1,173,216 | $4,494,143 |