Northborough Affordable Housing Corporation
- Assets
- $489.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Northborough, MA
- Founding
- 08/1996
- Data as of
- 12/2022
- EIN
- 04-3239046
Organization Overview
Northborough Affordable Housing Corporation is located in Northborough, MA. The organization was established in 1996. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Northborough Affordable Housing Corporation 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, Northborough Affordable Housing Corporation generated $62.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $74.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
SINCE ITS INCEPTION, THE NORTHBOROUGH AFFORDABLE HOUSING CORPORATION (NAHC) HAS ADVOCATED FOR THE CREATION OF AFFORDABLE HOUSING IN THE TOWN OF NORTHBOROUGH. TO DATE, NAHC HAS BUILT AND OWNS 4 UNITS OF AFFORDABLE SENIOR RENTAL HOUSING LOCATED AT THE CENTER DRIVE LOCATION OF THE NORTHBOROUGH HOUSING AUTHORITY AND MANAGED BY THE HOUSING AUTHORITY AND HAS PARTNERED WITH HABITAT FOR HUMANITY (HFH) TO CREATE AN ADDITIONAL 5 UNITS OF AFFORDABLE FAMILY HOUSING IN NORTHBOROUGH. NAHC IS CURRENTLY PURSUING ADDITIONAL OPPORTUNITIES FOR AFFORDABLE HOUSING WITH HFH. NAHC ALSO ACTS AS AN ADVISOR AND CONSULTANT TO NORTHBOROUGH TOWN STAFF AND THE MEMBERS OF TOWN BOARDS AND COMMITTEES ON MATTERS RELATING TO AFFORDABLE HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Pember Clerk/director | 1 | $0 | |
Michelle Gillespie Director | 1 | $0 | |
Richard Leif Treasurer | 1 | $0 | |
Rae Carlsen Pres./director | 1 | $0 | |
Michael Durkin Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,855 |
| Total Program Service Revenue | $36,000 |
| Membership dues | $0 |
| Investment income | $88 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $62,943 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $6,290 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $68,108 |
| Total expenses | $74,398 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $93,771 |
| Other assets | $0 |
| Total assets | $489,310 |
| Total liabilities | $0 |
| Net assets or fund balances | $489,310 |