Providence Place Inc
- Assets
- $7.6m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Holyoke, MA
- Founding
- 03/1946
- Data as of
- 12/2023
- EIN
- 04-3404084
Organization Overview
Providence Place Inc is located in Holyoke, MA. The organization was established in 1946. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Providence Place 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, Providence Place Inc generated $5.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $5.1m during the year ending 12/2023. While expenses have increased by 2.7% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE INDEPENDENT LIVING RENTAL APARTMENTS TO MODERATE INCOME SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDENCE PLACE IS A MINISTRY OF THE SISTERS OF PROVIDENCE MINISTRY CORPORATION MANAGED BY TRINITY SENIOR SERVICES MANAGEMENT. PROVIDENCE PLACE OFFERS RENTAL APARTMENTS AT AFFORDABLE RATES TO 119 OLDER, MODERATE INCOME INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Moyer Executive Director | 0 | $0 | |
Sr Kathleen Popko Sp President | OfficerTrustee | 1 | $0 |
Sr Senga Fulton Sp Treasurer | OfficerTrustee | 1 | $0 |
Sr Mary Caritas Geary Sp Secretary | OfficerTrustee | 1 | $0 |
Sr Geraldine Noonan Sp Trustee | Trustee | 1 | $0 |
Michael Tremble Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $8,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,592 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,592 |
| Total Program Service Revenue | $5,045,713 |
| Investment income | $13,813 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$9,043 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,120,011 |
| 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 | $2,022,759 |
| Pension plan accruals and contributions | $20,680 |
| Other employee benefits | $226,455 |
| Payroll taxes | $143,398 |
| Fees for services: Management | $184,149 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $86,630 |
| Advertising and promotion | $21,032 |
| Office expenses | $6,836 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $761,021 |
| Travel | $966 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $415,066 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $488,248 |
| Insurance | $98,415 |
| All other expenses | $0 |
| Total functional expenses | $5,145,705 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $379,233 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $47,202 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $42,647 |
| Prepaid expenses and deferred charges | $67,470 |
| Net Land, buildings, and equipment | $6,206,423 |
| Investments—publicly traded securities | $811,382 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,554,357 |
| Accounts payable and accrued expenses | $361,073 |
| Grants payable | $0 |
| Deferred revenue | $22,213 |
| 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 | $0 |
| Other liabilities | $13,285,901 |
| Total liabilities | $13,669,187 |
| Net assets without donor restrictions | -$6,114,830 |
| 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 | $7,554,357 |