Wollaston Lutheran Church Apartments Inc
- Assets
- $20.9m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Quincy, MA
- Founding
- 05/1973
- Data as of
- 12/2022
- EIN
- 23-7036017
Organization Overview
Wollaston Lutheran Church Apartments Inc is located in Quincy, MA. The organization was established in 1973. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wollaston Lutheran Church Apartments 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 12/2022, Wollaston Lutheran Church Apartments Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $3.6m during the year ending 12/2022. While expenses have increased by 6.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION SUPPORTS, AND HOLDS FUNDS FOR, ITS NONPROFIT MEMBER INSTITUTIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
FENNO HOUSE PROVIDES DIGNIFIED ASSISTED LIVING SERVICES AND LOW-INCOME HANDICAPPED AND ELDERLY HOUSING FOR 152 INDIVIDUALS/COUPLES UNDER THE OVERSIGHT OF THE U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy M Wismar President/treasurer | OfficerTrustee | 1 | $0 |
Rev Steve Law Vice-President | OfficerTrustee | 1 | $0 |
Lola Tom Secretary/clerk | OfficerTrustee | 0.5 | $0 |
Rev Richard Law Director | Trustee | 0.5 | $0 |
Ms Marcia Bailey Director | Trustee | 0.5 | $0 |
Komborero Shoko Director | Trustee | 0.5 | $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 | $3,292,479 |
| Investment income | $1,096 |
| 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 | $3,293,575 |
| 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 | $873,915 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $116,207 |
| Payroll taxes | $84,819 |
| Fees for services: Management | $195,600 |
| Fees for services: Legal | $3,390 |
| Fees for services: Accounting | $20,780 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,061 |
| Office expenses | $67,623 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $517,075 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $139,600 |
| Insurance | $189,915 |
| All other expenses | $94,418 |
| Total functional expenses | $3,579,112 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,845 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $520 |
| Accounts receivable, net | $80,781 |
| 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 | $155,878 |
| Net Land, buildings, and equipment | $2,435,188 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,981,529 |
| Total assets | $20,858,741 |
| Accounts payable and accrued expenses | $1,302,980 |
| Grants payable | $0 |
| Deferred revenue | $44,133 |
| 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 | $16,513,055 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $536,559 |
| Total liabilities | $18,396,727 |
| Net assets without donor restrictions | $2,462,014 |
| 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 | $20,858,741 |