Jm Apartments
- Assets
- $1.3m
- Revenue
- $114.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 01/2007
- Data as of
- 06/2021
- EIN
- 05-0435537
Organization Overview
Jm Apartments is located in Providence, RI. The organization was established in 2007. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Jm Apartments 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 06/2021, Jm Apartments generated $114.9k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $199.6k during the year ending 06/2021. While expenses have increased by 2.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
JM APARTMENTS (JM) IS ORGANIZED FOR CHARITABLE PURPOSES TO PROVIDE ELDERLY AND HANDICAPPED PERSONS WITH LOW-INCOME HOUSING FACILITIES AND ACCESS TO SERVICES WHICH ARE SPECIFICALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PHYSIOLOGICAL NEEDS (SEE SCHEDULE O).
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LOW-INCOME HOUSING AND ACCESS TO SUPPORT SERVICES TO ELDERLY PEOPLE AND PEOPLE WITH DISABILITIES, PRIMARILY RELATED TO BEHAVIORAL HEALTH ISSUES. JM HAS A TOTAL OF 10 UNITS IN TWO LOCATIONS IN CENTRAL FALLS, RHODE ISLAND: 5 UNITS LOCATED AT 5-7 ECHO STREET AND 5 UNITS LOCATED AT 135-137 LIBERTY STREET. THE OCCUPANCY RATE WAS 99% DURING THE FISCAL YEAR COVERED IN THIS RETURN. THERE WERE 33 VACANT DAYS AMONG THE 10 UNITS DURING THE FISCAL YEAR COVERED IN THIS RETURN. THE WAITING LIST AS OF 6/30/21 CONSISTED OF 17 INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pamela S Labreche V.chair/secty. | OfficerTrustee | 0.3 | $0 |
Joseph K Sabetta Treasurer | OfficerTrustee | 0.3 | $0 |
Robert Mancini Chairperson | OfficerTrustee | 0.3 | $0 |
Scott W Dichristofero President | Officer | 0.5 | $0 |
Timothy J Babineau MD Director | Trustee | 0.1 | $0 |
Jay Burdick Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $77,665 |
| 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 | $77,665 |
| Total Program Service Revenue | $34,495 |
| Investment income | $32 |
| 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 | $114,931 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $31,178 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,466 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,924 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,315 |
| Insurance | $1,344 |
| All other expenses | $0 |
| Total functional expenses | $199,550 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,899 |
| Savings and temporary cash investments | $60,608 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,231,521 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,569 |
| Total assets | $1,300,597 |
| Accounts payable and accrued expenses | $187,364 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,569 |
| 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 | $2,170,525 |
| Total liabilities | $2,360,458 |
| Net assets without donor restrictions | -$1,059,861 |
| 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 | $1,300,597 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Housing Assistance Corporation Hyannis, MA | $20,544,372 | $36,246,807 |
Neville Communities Home Inc Cambridge, MA | $11,055,368 | $17,412,264 |
Affordable Housing And Services Collaborative Inc Braintree, MA | $170,389,416 | $17,704,653 |
Fairhaven Healthcare Center Inc Lowell, MA | $23,711,383 | $11,897,110 |
National Affordable Housing Foundation Schenectady Inc Waltham, MA | $11,290,760 | $3,782,521 |
Neighborhood Of Affordable Housing Inc East Boston, MA | $27,971,204 | $13,300,567 |
Inquilinos Boricuas En Accion Inc Boston, MA | $173,108,948 | $16,934,744 |
Milton-Fuller Housing Corporation Milton, MA | $76,615,525 | $9,254,138 |
Owl Tallahassee Housing Inc Boston, MA | $28,680,052 | $6,023,225 |
Hearth Inc Boston, MA | $12,790,165 | $7,949,326 |
Springhouse Inc Boston, MA | $37,736,932 | $9,492,146 |
The Neighborhood Developers Inc Chelsea, MA | $68,146,151 | $7,961,454 |