Falmouth Housing Corporation
- Assets
- $8.2m
- Revenue
- $682.4k
- Investments
- $0.0
- Employees
- 13
- Location
- Falmouth, MA
- Founding
- 02/1997
- Data as of
- 12/2021
- EIN
- 04-3333866
Organization Overview
Falmouth Housing Corporation is located in Falmouth, MA. The organization was established in 1997. 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. As of 12/2021, Falmouth Housing Corporation employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Falmouth 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 12/2021, Falmouth Housing Corporation generated $682.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.0%) each year. All expenses for the organization totaled $799.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 7 years. 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
EDUCATE, STIMULATE, RESEARCH AND PROVIDE AFFORDABLE HOUSING IN THE TOWN OF FALMOUTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUIRE, CONSTRUCT, MANAGE, MAINTAIN AND MAKE AVAILABLE, THROUGH ANY AVAILABLE RESOURCE, AFFORDABLE HOUSING IN THE TOWN OF FALMOUTH TO A PERSON OR FAMILIES IN NEED OF ECONOMIC ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Clark President/ex | Officer | 40 | $153,522 |
Frank K Duffy Jr ESQ Clerk | Officer | 3 | $0 |
Eric T Turkington Treasurer | Officer | 5 | $0 |
Jessica Erickson Whritenour Director | Trustee | 3 | $0 |
Thomas Lebach Director | Trustee | 3 | $0 |
Matthew Patrick Director | Trustee | 3 | $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 | $92,622 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $92,622 |
| Total Program Service Revenue | $546,884 |
| Investment income | $100,612 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$107,018 |
| Net Income from Fundraising Events | $19,196 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $682,361 |
| 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 | $353,479 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,699 |
| Payroll taxes | $23,751 |
| Fees for services: Management | $60,859 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $32,952 |
| 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 | $25,532 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,785 |
| Travel | $6,116 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,246 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,606 |
| Insurance | $9,096 |
| All other expenses | $25,959 |
| Total functional expenses | $799,686 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,329,093 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $569,460 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $666,413 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,723 |
| Net Land, buildings, and equipment | $1,582,840 |
| Investments—publicly traded securities | $15,751 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,068,544 |
| Total assets | $8,237,824 |
| Accounts payable and accrued expenses | $5,379 |
| 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 | $311,580 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $316,959 |
| Net assets without donor restrictions | $7,920,865 |
| 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 | $8,237,824 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Falmouth Housing Corporation has recieved totaling $63,554.
| Awarding Organization | Amount |
|---|---|
Josephine And Louise Cranefoundation Falmouth, MA PURPOSE: UNRESTRICTED | $55,000 |
Zammer Foundation Of Cape Cod Osterville, MA PURPOSE: FUND CHARITABLE PURPOSE OF FOUND. | $5,000 |
George H Lusk Trust Falmouth, MA PURPOSE: FALMOUTH HOMELESS PREVENTION PROGRAM | $2,000 |
George H Lusk Trust Falmouth, MA PURPOSE: GENERAL PURPOSES | $1,500 |
David A And Robin E Jaye Foundation Charitable Tr Boston, MA PURPOSE: KIRWIN/MURRAY TOUR DE FALMOUTHFALMOUTH HOMELESS PREVENTION PROGRAM | $54 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nhp Foundation New York, NY | $288,555,579 | $98,614,983 |
Nycha Ii Housing Development Fund Corporation New York, NY | $21,607,256 | $75,418,815 |
Housing Assistance Corporation Hyannis, MA | $20,544,372 | $36,246,807 |
Eihab Human Services New Jersey Inc Springfield Gardens, NY | $6,084,233 | $34,447,037 |
West Side Federation For Senior Housing Inc New York, NY | $138,485,239 | $41,412,403 |
East Harlem Pilot Block Housing Development Fund Co Inc New York, NY | $76,192,730 | $32,420,395 |
Orange Affordable Housing Inc New York, NY | $0 | $0 |
Housing Visions Unlimited Inc Syracuse, NY | $54,882,329 | $24,284,268 |
Phipps Houses New York, NY | $754,776,508 | $88,001,578 |
C-Hp Cove Inc New York, NY | $8,025,727 | $5,367,385 |
Diego Beekman Mutual Housing Assoc Housing Developmnt Fund Corp Bronx, NY | $60,873,005 | $24,267,142 |
Champlain Housing Tr Burlington, VT | $156,492,954 | $31,041,858 |