Swap Stop Wasting Abandoned Property
- Assets
- $15.1m
- Revenue
- $2.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 03/1977
- Data as of
- 08/2021
- 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. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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 NEIGHBORHOODS THROUGH PRESERVATION AND REHABILITATION FOR LOW TO 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 STREET, LLC CONSTRUCTED TEN UNITS OF COMMERCIAL CONDOMINIUMS IN SOUTH PROVIDENCE, THROUGH 8/31/17, 7 UNITS HAVE BEEN SOLD AND THE THREE OTHER UNITS ARE BEING RENTED. THESE CONDOMINIUMS SERVE TO REVITALIZE THE AREA THROUGH BRINGING ADDITIONAL SMALL BUSINESSES TO ITS RESIDENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Whit Secretary | OfficerTrustee | 2 | $0 |
Miguel Quezada President | OfficerTrustee | 2 | $0 |
Peter Bortolotti Vice President | OfficerTrustee | 2 | $0 |
Richardson Ogidon Treasurer | OfficerTrustee | 2 | $0 |
John Prince Director | Trustee | 1 | $0 |
Graham Kilvert Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $67,297 |
| All other contributions, gifts, grants, and similar amounts not included above | $520,178 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $587,475 |
| Total Program Service Revenue | $668,249 |
| Investment income | $53,565 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$149,624 |
| 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 | -$1,198,852 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,283 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $440 |
| 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. | $90,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $421,829 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $51,009 |
| Payroll taxes | $44,833 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,478 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,760 |
| Advertising and promotion | $15,145 |
| Office expenses | $44,712 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $22,662 |
| Travel | $6,752 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,697 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,838 |
| Insurance | $6,014 |
| All other expenses | $0 |
| Total functional expenses | $792,137 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $486,867 |
| Savings and temporary cash investments | $814,874 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $809,142 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,386,094 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,265 |
| Net Land, buildings, and equipment | $7,300,255 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,044,157 |
| Intangible assets | $0 |
| Other assets | $280,265 |
| Total assets | $15,144,919 |
| Accounts payable and accrued expenses | $1,461,259 |
| Grants payable | $0 |
| Deferred revenue | $6,016 |
| 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 | $9,834,051 |
| Unsecured mortgages and notes payable | $56,592 |
| Other liabilities | $64,863 |
| Total liabilities | $11,422,781 |
| Net assets without donor restrictions | $1,933,018 |
| 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 | $15,144,919 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Swap Stop Wasting Abandoned Property has recieved totaling $205,000.
| Awarding Organization | Amount |
|---|---|
The Rhode Island Community Foundation Providence, RI PURPOSE: KEEPING FAMILIES IN THEIR HOMES; AFFORDABLE HOUSING PRODUCTION DUE DILIGENCE | $105,000 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rcap Solutions Inc Worcester, MA | $9,084,523 | $86,440,230 |
Homes For Our Troops Inc Taunton, MA | $32,216,870 | $35,704,270 |
The Housing Partnership Network Inc Boston, MA | $38,640,476 | $16,875,187 |
Living Independently Forever Inc Hyannis, MA | $12,273,693 | $10,857,981 |
Providence Building Sanitary And Educational Association Providence, RI | $18,624,699 | $5,416,407 |
Cambridge Homes Cambridge, MA | $39,547,737 | $6,429,168 |
Citizens Housing & Planning Association Inc Boston, MA | $5,716,703 | $4,277,599 |
Colony Retirement Homes Of Holden Inc Holden, MA | $2,543,556 | $1,301,702 |
Sojourner House Providence, RI | $2,357,473 | $4,277,204 |
Regional Housing Network Of Massachusetts Inc Boston, MA | $233,206 | $3,257,036 |
Hartford Interval House Inc Hartford, CT | $4,221,325 | $3,228,226 |
Transition House Inc Cambridge, MA | $2,547,259 | $3,056,188 |