Affordable Housing And Services Collaborative Inc
- Assets
- $172.7m
- Revenue
- $21.7m
- Investments
- $6.1m
- Employees
- 4
- Location
- Braintree, MA
- Founding
- 11/2001
- Data as of
- 12/2022
- EIN
- 04-3555681
Organization Overview
Affordable Housing And Services Collaborative Inc is located in Braintree, MA. The organization was established in 2001. 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 12/2022, Affordable Housing And Services Collaborative Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Affordable Housing And Services Collaborative 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 12/2022, Affordable Housing And Services Collaborative Inc generated $21.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $18.0m during the year ending 12/2022. While expenses have increased by 19.1% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND PRESERVE AFFORDABLE HOUSING WITH SUPPORTIVE SERVICES FOR LOW INCOME HOUSEHOLDS AND OTHERS WITH SPECIAL NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO DEVELOP AND PRESERVE AFFORDABLE HOUSING WITH SUPPORTIVE SERVICES WHICH ENHANCE, EXPAND AND CREATE QUALITY OF LIFE INITIATIVES THROUGH WELLNESS, EDUCATIONAL, SOCIAL AND SUPPORTIVE SERVICES AND PROGRAMS THAT DIRECTLY BENEFIT LOW INCOME FAMILIES, YOUTHS, PERSONS WITH DISABILITIES AND THE ELDERLY RESIDING IN AFFORDABLE HOUSING DEVELOPMENTS. THE CORPORATION WILL ALSO FULFILL ITS OVERALL MISSION BY SEEKING OPPORTUNITIES TO DEVELOP AFFORDABLE HOUSING, WHICH IS FUNDAMENTAL TO THE PROVISION OF RESIDENTIAL-BASED SERVICES AND PROGRAMS FOR THE TARGETED POPULATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Bouton Director (as Of 2/11/22) | Trustee | 5 | $2,500 |
Thomas A Karnes Director | Trustee | 5 | $2,500 |
William Mcgrory Director | Trustee | 5 | $2,500 |
Josef Rettman Director | Trustee | 5 | $2,500 |
George Georges Clerk | OfficerTrustee | 5 | $2,500 |
Doreen Bushashia Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Architectural Team Architetural Services | 12/30/22 | $211,000 |
Rsm Us Llp Audit Services | 12/30/22 | $164,425 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $75,000 |
| 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 | $75,000 |
| Total Program Service Revenue | $15,620,042 |
| Investment income | -$18,687 |
| 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 | $21,678,364 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $76,142 |
| 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. | $356,898 |
| Compensation of current officers, directors, key employees. | $356,898 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,720,128 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $162,438 |
| Payroll taxes | $163,490 |
| Fees for services: Management | $1,053,085 |
| Fees for services: Legal | $100,563 |
| Fees for services: Accounting | $383,275 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,122 |
| Fees for services: Other | $15,415 |
| Advertising and promotion | $1,530 |
| Office expenses | $500,062 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,337,102 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,097,103 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,209,253 |
| Insurance | $702,616 |
| All other expenses | $522 |
| Total functional expenses | $18,020,937 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,042,679 |
| Savings and temporary cash investments | $396,561 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $352,264 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $65,067,957 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $644,616 |
| Net Land, buildings, and equipment | $62,673,732 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,060,211 |
| Investments—program-related | $18,101,514 |
| Intangible assets | $0 |
| Other assets | $11,333,282 |
| Total assets | $172,672,816 |
| Accounts payable and accrued expenses | $15,299,200 |
| 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 | $93,717,251 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,956,192 |
| Total liabilities | $114,972,643 |
| Net assets without donor restrictions | $57,700,173 |
| 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 | $172,672,816 |
Grants Awarded
Over the last fiscal year, Affordable Housing And Services Collaborative Inc has awarded $42,392 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PEABODY RESIDENT SERVICES INC PURPOSE: 2023 HOWARD HOUSING GRANT | $36,966 |
THE BOSTON HOME INC PURPOSE: FINAL PAYMENT FOR 2019 GRANT | $5,426 |