Presidential Gardens Neighborhood Association Inc
- Assets
- $18.4m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Bradford, MA
- Founding
- 08/1994
- Data as of
- 05/2024
- EIN
- 04-3221974
Organization Overview
Presidential Gardens Neighborhood Association Inc is located in Bradford, MA. The organization was established in 1994. 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. Presidential Gardens Neighborhood Association 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 05/2024, Presidential Gardens Neighborhood Association Inc generated $3.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $4.3m during the year ending 05/2024. While expenses have increased by 3.9% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING TO QUALIFIED FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESIDENTIAL GARDENS NEIGHBORHOOD ASSOCIATION, INC. OWNES AND OPERATES200 UNITS OF HOUSING FOR LOW AND MODERATE INCOME PERSONS AND FAMILIES IN BRADFORD, MA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Victor President/vice President | OfficerTrustee | 1 | $0 |
Patricia Ross Treasurer | OfficerTrustee | 1 | $0 |
Sandi Orsillo Secretary | OfficerTrustee | 1 | $0 |
Celimar Figueroa Director | Trustee | 1 | $0 |
Jeanne Bishop Director | Trustee | 1 | $0 |
Chrissy Rivera Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Maloney Properties Inc Property Management | 5/30/23 | $242,447 |
Lloyd B Mcmanus Cpa Pc Audit & Tax | 5/30/23 | $16,787 |
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 | $3,330,164 |
| Investment income | $125,621 |
| 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 | $3,593,666 |
| 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 | $543,538 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $105,813 |
| Payroll taxes | $49,312 |
| Fees for services: Management | $171,741 |
| Fees for services: Legal | $67,770 |
| Fees for services: Accounting | $21,598 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,011 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,758 |
| Office expenses | $82,255 |
| 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 | $407,430 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $758,595 |
| Insurance | $176,952 |
| All other expenses | $557,474 |
| Total functional expenses | $4,293,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,551 |
| Savings and temporary cash investments | $5,909,367 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $105,737 |
| 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 | $216,451 |
| Net Land, buildings, and equipment | $10,000,109 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,092,605 |
| Total assets | $18,373,820 |
| Accounts payable and accrued expenses | $851,932 |
| Grants payable | $0 |
| Deferred revenue | $23,305 |
| 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 | $15,534,635 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $112,526 |
| Total liabilities | $16,522,398 |
| Net assets without donor restrictions | -$3,669,364 |
| Net assets with donor restrictions | $5,520,786 |
| 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 | $18,373,820 |