Swap Stop Wasting Abandoned Property
- Assets
- $18.1m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 14
- Location
- Providence, RI
- Founding
- 03/1977
- Data as of
- 08/2023
- EIN
- 05-0370946
Organization Overview
Swap Stop Wasting Abandoned Property is located in Providence, RI. The organization was established in 1977. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 08/2023, Swap Stop Wasting Abandoned Property employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Swap Stop Wasting Abandoned Property 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 08/2023, Swap Stop Wasting Abandoned Property generated $4.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.9% each year . All expenses for the organization totaled $4.2m during the year ending 08/2023. While expenses have increased by 23.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO CONFRONT THE PROBLEM OF HOUSING ABANDONMENT AND PURCHASE, REHABILITATE AND CONSTRUCT HOMES AND APARTMENT COMPLEXES FOR LOW TO MODERATE INCOME FAMILIES IN PROVIDENCE, RI, AND THROUGHOUT RHODE ISLAND. IN ADDITION, THE ORGANIZATION OWNS AN OPERATES A SINGLE MEMBER LLC KNOWN AS TP 10, LLC THAT OWNS 41 APARTMENT UNITS OF LOW AND MODERATE INCOME HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL PROGRAM: PROMOTES THE CONSERVATION OF PROVIDENCE AND NEARBY NEIGHBORHOODS THROUGH PRESERVATION AND REHABILITATION FOR LOW AND MODERATE INCOME FAMILIES.
TP 10 LLC: OWN AND OPERATE A 41 UNIT APARTMENT COMPLEX THAT SERVES LOW AND MODERATE INCOME FAMILIES.
SOUTHSIDE GATEWAYS/500 BROAD STEET, LLC CONSTRUCTED TEN UNITS OF COMMERICAL CONDOMINIUMS IN SOUTH PROVIDENCE. THESE CONDOMINIUMS SERVE TO REVITALIZE THE AREA BY BRINGIN ADDITIONAL SMALL BUSINESSES TO ITS RESIDENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miguel Quezada President | OfficerTrustee | 2 | $0 |
Peter Bortolotti Vice President | OfficerTrustee | 2 | $0 |
Nancy Whit Secretary | OfficerTrustee | 2 | $0 |
Graham Kilvert Treasurer | OfficerTrustee | 2 | $0 |
Jeff Austin Director | Trustee | 1 | $0 |
Fabiola Brunache Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stand Corporation Construction | 8/30/23 | $960,401 |
Emerald Services Construction | 8/30/23 | $238,482 |
Gary Charpentier Construction | 8/30/23 | $130,500 |
Guwoe Home Improvement Construction | 8/30/23 | $123,290 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,064,692 |
| All other contributions, gifts, grants, and similar amounts not included above | $203,615 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,268,307 |
| Total Program Service Revenue | $1,567,405 |
| Investment income | $11,773 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,306,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,159,433 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,778 |
| 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. | $157,403 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $546,411 |
| Pension plan accruals and contributions | $10,918 |
| Other employee benefits | $22,735 |
| Payroll taxes | $55,684 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $57,304 |
| Fees for services: Accounting | $47,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,144 |
| Advertising and promotion | $53,510 |
| Office expenses | $63,770 |
| Information technology | $23,727 |
| Royalties | $0 |
| Occupancy | $102,842 |
| Travel | $16,645 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,845 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $206,635 |
| Insurance | $8,776 |
| All other expenses | $0 |
| Total functional expenses | $4,210,361 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $331,614 |
| Savings and temporary cash investments | $1,819,638 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $466,148 |
| 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 | $21,046 |
| Net Land, buildings, and equipment | $6,954,362 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $8,200,718 |
| Intangible assets | $0 |
| Other assets | $309,240 |
| Total assets | $18,102,766 |
| Accounts payable and accrued expenses | $549,332 |
| Grants payable | $83,500 |
| Deferred revenue | $3,808 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $51,606 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,906,311 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,314,346 |
| Total liabilities | $14,908,903 |
| Net assets without donor restrictions | $1,404,743 |
| Net assets with donor restrictions | $1,789,120 |
| 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 | $18,102,766 |