Paraclete Center Inc
- Assets
- $1.8m
- Revenue
- $13.3k
- Investments
- $0.0
- Employees
- 0
- Location
- South Boston, MA
- Founding
- 09/1996
- Data as of
- 12/2023
- EIN
- 04-3309563
Organization Overview
Paraclete Center Inc is located in South Boston, MA. The organization was established in 1996. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paraclete Center 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, Paraclete Center Inc generated $13.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (33.8%) each year. All expenses for the organization totaled $70.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENRICH THE LIVES OF YOUNG PEOPLE AND THEIR COMMUNITIES THROUGH EDUCATION
Describe the Organization's Program Activity:
THE ORGANIZATION SUSPENDED DAY TO DAY OPERATIONS AT THE END OF 2020 DUE TO STAFFING AND FUNDRAISING CHALLENGES BROUGHT ON BY THE COVID 19 PANDEMIC. THE ORGANIZATION DID NOT HAVE EMPLOYEES DURING THE YEARS 2021 TO 2023. THE BOARD HAS CONTINUED TO MEET ON A REGULAR BASIS AND ENGAGED A NON-PROFIT CONSULTANT IN 2021 TO DEVELOP A STRATEGIC PLAN FOR THE ORGANIZATION, WHICH RESULTED IN A VOTE TO SELL THE REAL ESTATE ASSETS OF THE ORGANIZATION AND USE THE SALE PROCEEDS TO FUND SCHOLARSHIPS FOR YOUTH IN THE CITY OF BOSTON. A PURCHASE OPTION AGREEMENT WAS SIGNED ON APRIL 29, 2022 WITH ANOTHER NON-PROFIT ORGANIZATION AND IS SUBJECT TO VARIOUS CONTINGENCIES FOR THE BUYER'S PERMITTING AND FINANCING. THE SALE DID NOT CLOSE BY THE END OF DECEMBER 31, 2023, BUT THE ORGANIZATION REMAINS UNDER CONTRACT. THE SALE OF THE REAL ESTATE ASSETS DID OCCUR IN THE SECOND QUARTER OF 2024. INCLUDED HERE ARE EXPENSES GENERALLY RELATED TO THE ONGOING COSTS FOR THE BUILDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Navil Charles Clerk | OfficerTrustee | 2 | $0 |
Nagib Charles Treasurer | OfficerTrustee | 2 | $0 |
Anna Daidone Board Member | Trustee | 2 | $0 |
Barry Hynes Board Member | Trustee | 2 | $0 |
Peter Gelzinis President | OfficerTrustee | 2 | $0 |
Christine Mcconville Board Member | Trustee | 2 | $0 |
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 | $11,612 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,612 |
| Total Program Service Revenue | $0 |
| Investment income | $13 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,650 |
| 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 | $13,275 |
| 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 | $3,233 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $699 |
| 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 | $1,560 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $62,998 |
| Insurance | $839 |
| All other expenses | $0 |
| Total functional expenses | $70,099 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $237 |
| Savings and temporary cash investments | $12 |
| 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 | $1,790,319 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,790,568 |
| Accounts payable and accrued expenses | $12,249 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $15,000 |
| Other liabilities | $0 |
| Total liabilities | $27,249 |
| Net assets without donor restrictions | $1,763,319 |
| 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 | $1,790,568 |