Worcester Community Housing Resources Inc
- Assets
- $25.9m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 16
- Location
- Worcester, MA
- Founding
- 09/1986
- Data as of
- 12/2023
- EIN
- 22-2719744
Organization Overview
Worcester Community Housing Resources Inc is located in Worcester, MA. The organization was established in 1986. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Worcester Community Housing Resources Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Worcester Community Housing Resources 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 12/2023, Worcester Community Housing Resources Inc generated $4.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $2.9m during the year ending 12/2023. While expenses have increased by 8.7% per year over the past 8 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
OUR MISSION IS TO HELP CREATE AND PRESERVE AFFORDABLE HOUSING AND TO INITIATE AND SUPPORT NEIGHBORHOOD REVITALIZATION IN THE GREATER WORCESTER AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES AND TO LOCATE, PURCHASE, RENOVATE AND RESELL NEGLECTED PROPERTIES IN LOW INCOME NEIGHBORHOODS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Schanck-Bolwell Executive Director | 37.5 | $138,917 | |
Andrew Howarth Director Of Devel. | 37.5 | $119,448 | |
Jennifer Gaskin Director | Trustee | 1 | $0 |
Jennifer Rutkauski Marble Director | Trustee | 1 | $0 |
James Hayes President | OfficerTrustee | 1 | $0 |
Elizabeth Sanning Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $683,094 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $683,094 |
| Total Program Service Revenue | $3,556,023 |
| Investment income | $6,108 |
| 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 | $4,245,225 |
| 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. | $138,917 |
| Compensation of current officers, directors, key employees. | $6,526 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $594,331 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $161,096 |
| Payroll taxes | $72,815 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,891 |
| Fees for services: Accounting | $33,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,733 |
| Advertising and promotion | $26,534 |
| Office expenses | $57,365 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $389,630 |
| Travel | $2,616 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $70,339 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $306,725 |
| Insurance | $118,634 |
| All other expenses | $18,259 |
| Total functional expenses | $2,872,692 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $686,306 |
| Savings and temporary cash investments | $9,575 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $371,067 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,989,058 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $117,220 |
| Net Land, buildings, and equipment | $4,669,972 |
| Investments—publicly traded securities | $114,777 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,962,257 |
| Total assets | $25,920,232 |
| Accounts payable and accrued expenses | $178,911 |
| 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 | $3,410,108 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $684,880 |
| Total liabilities | $4,273,899 |
| Net assets without donor restrictions | $21,078,075 |
| Net assets with donor restrictions | $568,258 |
| 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 | $25,920,232 |