Tenants Development Corporation
- Assets
- $31.6m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 31
- Location
- Boston, MA
- Founding
- 09/1972
- Data as of
- 12/2023
- EIN
- 23-7044492
Organization Overview
Tenants Development Corporation is located in Boston, MA. The organization was established in 1972. 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. As of 12/2023, Tenants Development Corporation employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tenants Development 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 12/2023, Tenants Development Corporation generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 5.2% per year over the past 7 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
TO PROVIDE HOUSING TO LOW AND MODERATE INCOME RESIDENTS OF BOSTON, MA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUING - MANAGED THREE DEVELOPMENTS WITH OVER 100 UNITS FOR LOW AND MODERATE INCOME FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald Ward Executive Di | Officer | 40 | $222,323 |
Anita Huggins Asset Manage | 40 | $138,595 | |
Jeanetta Williams Treasurer/ S | OfficerTrustee | 40 | $129,939 |
Yamari Figueroa Property Man | 40 | $103,710 | |
David Guiterrez Maintenance | 40 | $103,710 | |
Mary Clinkscales President | OfficerTrustee | 4 | $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 | $280 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $280 |
| Total Program Service Revenue | $2,866,353 |
| Investment income | $50 |
| 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 | $2,888,263 |
| 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. | $370,932 |
| Compensation of current officers, directors, key employees. | $55,640 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $411,362 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $43,754 |
| Payroll taxes | $55,974 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,075 |
| Fees for services: Accounting | $25,626 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,743 |
| Advertising and promotion | $0 |
| Office expenses | $16,236 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $189,625 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $10,266 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,041 |
| Insurance | $110,066 |
| All other expenses | $410,108 |
| Total functional expenses | $1,725,808 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,845,904 |
| Savings and temporary cash investments | $1,866,530 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,303 |
| Loans from Officers, Directors, or Controlling Persons | $17,708 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,103 |
| Net Land, buildings, and equipment | $4,501,873 |
| Investments—publicly traded securities | $501,390 |
| Investments—other securities | $0 |
| Investments—program-related | $6,434,014 |
| Intangible assets | $0 |
| Other assets | $16,400,479 |
| Total assets | $31,599,304 |
| Accounts payable and accrued expenses | $280,602 |
| Grants payable | $0 |
| Deferred revenue | $12,687 |
| 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 | $948,133 |
| Other liabilities | $1,081,430 |
| Total liabilities | $2,322,852 |
| Net assets without donor restrictions | $29,276,452 |
| 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 | $31,599,304 |