Grandview Second Corporation
- Assets
- $909.7k
- Revenue
- $469.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 12/1991
- Data as of
- 09/2021
- EIN
- 22-2812929
Organization Overview
Grandview Second Corporation is located in Providence, RI. The organization was established in 1991. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Grandview Second Corporation 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 09/2021, Grandview Second Corporation generated $469.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 29.1% each year . All expenses for the organization totaled $326.4k during the year ending 09/2021. While expenses have increased by 12.6% per year over the past 5 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
GRANDVIEW SECOND CORPORATION WAS ORGANIZED IN 1987 TO OWN AND ADMINISTER THE HUD SECTION 811 MORTGAGE; IN CONJUNCTION WITH AND IN SUPPORT OF THE PROVIDENCE CENTER, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN MANAGING 19 UNITS OF LOW INCOME HOUSING FOR INDIVIDUALS WITH CHRONIC MENTAL ILLNESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Marran President/coo - Trustee | OfficerTrustee | 55 | $0 |
Patricia Cawley Affleck Secretary - Trustee | OfficerTrustee | 1 | $0 |
Jana M Planka Treasurer - Trustee | OfficerTrustee | 1 | $0 |
Stephen E Burke VP Of Finance | Officer | 55 | $0 |
Deborah M O'brien Former Officer | 0 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $469,421 |
| Investment income | $360 |
| 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 | $469,781 |
| 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 | $18,194 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,906 |
| Advertising and promotion | $0 |
| Office expenses | $12,491 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $80,677 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,855 |
| Insurance | $388 |
| All other expenses | $0 |
| Total functional expenses | $326,399 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $95,358 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,637 |
| 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 | $377 |
| Net Land, buildings, and equipment | $618,916 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $191,422 |
| Total assets | $909,710 |
| Accounts payable and accrued expenses | $25,724 |
| Grants payable | $0 |
| Deferred revenue | $388 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $87,948 |
| Total liabilities | $114,060 |
| Net assets without donor restrictions | $333,993 |
| Net assets with donor restrictions | $461,657 |
| 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 | $909,710 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Builders Inc Boston, MA | $148,217,575 | $87,790,279 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |
Cambridge Community Housing Development Inc Cambridge, MA | $56,982,552 | $7,704,327 |
New Samaritan Corporation Inc Storrs, CT | $12,270,724 | $7,624,848 |
Mishawum Park Tenants Association Inc Braintree, MA | $36,767,027 | $4,697,884 |
2life Partners Inc Brighton, MA | $42,841,795 | $8,582,335 |
Trout Brook Realty Advisors Inc West Hartford, CT | $35,554,371 | $4,287,874 |
Presidential Gardens Neighborhood Association Inc Bradford, MA | $19,680,718 | $3,390,576 |
Town Of Lincoln Housing Authority Lincoln, RI | $10,343,855 | $3,775,446 |
National Affordable Housing Foundation Taunton Inc Waltham, MA | $6,510,586 | $2,055,606 |
Greater Groton Realty Corporation Groton, CT | $1,206,230 | $3,281,621 |
Island Housing Trust Corporation West Tisbury, MA | $30,027,553 | $5,778,836 |