Historic Boston Incorporated
- Assets
- $11.1m
- Revenue
- $1.4m
- Investments
- $537.4k
- Employees
- 0
- Location
- Boston, MA
- Founding
- 08/1962
- Data as of
- 12/2023
- EIN
- 04-6111819
Organization Overview
Historic Boston Incorporated is located in Boston, MA. The organization was established in 1962. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Historic Boston Incorporated 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, Historic Boston Incorporated generated $1.4m 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 (3.6%) each year. All expenses for the organization totaled $1.7m 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 Program Activity:
RENTAL: RENTAL PROPERTY CONSISTS OF THREE HISTORIC PROPERTIES, ALL REDEVELOPED BY HBI. THE OLD CORNER BOOKSTORE, IS A COMMERICAL BUILDING ON THE OFFICIAL FREEDOM TRAIL SITE IN DOWNTOWN BOSTON WITH RETAIL AND OFFICE SPACE. THE VERTULLO BUILDING, THE OLDEST AND ONLY SURVIVING WOODEN COMMERICAL BUILDING IN THE CLARY AND LOCAN SQUARES COMMERICAL DISTRICT OF HYDE PARK, CONTAINS FIVE SMALL BUSINESSES AND FOUR UPPER STORY RESIDENTIAL UNITS. THE EUSTIS FIREHOUSE BUILDING, THE OLDEST REMAINING FIREHOUSE IN BOSTON, BUILT IN 1859, IS OPERATED AS COMMERCIAL OFFICE SPACE.
REAL ESTATE DEVELOPMENT: REPRESENTS HBI'S EFFORTS TO REDEVELOP AND REHABILITATE AT-RISK HISTORIC PROPERTIES. A PROJECT MAY BE UNDER REVIEW, WITH UNDERWRITING AND PRE-DEVELOPMENT ACTIVITY IN PROCESS FOR ONE OR SEVERAL YEARS, IN ORDER TO PLAN ITS REDEVELOPMENT OR TO CONCLUDE IT IS NOT FEASIBLE. WHEN A PROJECT IS READY FOR REDEVELOPMENT, HBI ARRANGES FINANCING, INVESTMENT AND PRIVATE OR PUBLIC FUNDING AS APPROPRIATE FOR THE PROPERTY TO CARRY OUT THE PLAN.
EASEMENT MONITORING: DESIGNED TO PROTECT SIGNIFICANT RESOURCES IN PERPETUITY FROM UNSYMPATHETIC OR INAPPROPRIATE EXTERIOR OR INTERIOR ALTERATIONS, NEGLECT, OR DEMOLITION BY MEANS OF PRESERVATION RESTRICTION AGREEMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathy Kottaridis Executive Director | 35 | $155,384 | |
Michael Durand President | 1 | $0 | |
Paul Mcdonough President Emeritus | 1 | $0 | |
Sammy Nabulsi Treasurer | 1 | $0 | |
James Labeck Clerk | 1 | $0 | |
Felicia Jacques Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ws Aiken Llc | 12/30/23 | $454,125 |
Cliftonlarsonallen Llp | 12/30/23 | $218,124 |
Other Tomorrows Llc | 12/30/23 | $87,200 |
Cre Brokerage Boston Llc | 12/30/23 | $90,451 |
Aafcpas Inc | 12/30/23 | $89,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $72,658 |
| Interest on Savings | $0 |
| Dividends & Interest | $24,877 |
| Net Rental Income | $414,660 |
| Net Gain on Sale of Assets | $56,104 |
| Capital Gain Net Income | $56,104 |
| Net ST Capital Gain | $56,104 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,401,945 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $155,384 |
| Other employee salaries and wages | $311,796 |
| Pension plans, employee benefits | $37,106 |
| Interest | $95,315 |
| Taxes | $243,405 |
| Depreciation | $120,057 |
| Occupancy | $222,044 |
| Travel, conferences, and meetings | $24,922 |
| Printing and publications | $6,813 |
| Other expenses | $95,099 |
| Total operating and administrative expenses | $1,655,031 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,655,031 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $377,137 |
| Savings and temporary cash investments | $204,045 |
| Net Accounts receivable | $205,945 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $1,971,809 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $112,755 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $43,465 |
| Net Land, buildings, and equipment | $4,473,216 |
| Other assets | $3,224,023 |
| Total assets | $11,106,294 |
| Accounts payable and accrued expenses | $383,575 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $1,223,625 |
| Other liabilities | $1,978,748 |
| Total liabilities | $3,585,948 |