Inquilinos Boricuas En Accion Inc is located in Boston, MA. The organization was established in 2019. 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 12/2022, Inquilinos Boricuas En Accion Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inquilinos Boricuas En Accion 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, Inquilinos Boricuas En Accion Inc generated $18.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $13.5m during the year ending 12/2022. While expenses have increased by 13.5% 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
INQUILINOS BORICUAS EN ACCION (IBA) EMPOWERS AND ENGAGES INDIVIDUALS AND FAMILIES TO IMPROVE THEIR LIVES THROUGH HIGH-QUALITY AFFORDABLE HOUSING, EDUCATION AND ARTS PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IBA IS A NON-PROFIT OWNER AND DEVELOPER OF AFFORDABLE HOUSING. THE MAIN GOAL IS TO PROVIDE AN AFFORDABLE, SAFE AND HEALTHY ENVIRONMENT THAT PROMOTES THE HIGHEST QUALITY OF LIFE FOR LOW AND MODERATE-INCOME FAMILIES AND ELDERS.IBA ALSO SUPPORT FAMILIES THAT ARE AT RISK OF LOSING THEIR HOMESBY HELPING THEM RETAIN THEIR HOUSING THROUGH DIFFERENT SERVICES THAT INCLUDE: COUNSELING, CASE MANAGEMENT AND ADVOCACY.
PRESCHOOL - OUR APPROACH GOES WELL BEYOND TESTING SCORES, IT FOCUSES ON SKILLS DEVELOPMENT, SUCH AS INCLUSION, ADAPTABILITY, CREATIVITY, CRITICAL THINKING AND INDEPENDENCE. OUR DEDICATED TEACHERS AND STAFF NURTURE EACH CHILD'S CREATIVITY AND INDIVIDUALITY, RECOGNIZING THESE SKILLS TO BE JUST AS IMPORTANT AS THE ACADEMIC SKILLS THEY NEED TO SUCCEED. ALL OF OUR STUDENTS GRADUATE PREPARED FOR KINDERGARTEN - THEY LEAVE US READY TO READ, WITH STRENGTHENED BILINGUAL SKILLS, AND WITH THE KNOWLEDGE THAT WILL SERVE THEM TO BECOME VALUED MEMBERS OF THEIR SOCIETY. OUR PROGRAM FOCUSES ON 5 CORE VALUES TO EDUCATE YOUR CHILD FOR FUTURE SUCCESS;SOCIO-EMOTIONAL SKILLS, LITERACY SKILLS, LEARNING SKILLS, COGNITIVE DEVELOPMENT, AND FINE AND GROSS MOTOR DEVELOPMENT.
REAL ESTATE MANAGEMENT - NON-PROFIT OWNER AND DEVELOPER OF AFFORDABLE HOUSING. THE MAIN GOAL IS TO PROVIDE AN AFFORDABLE, SAFE AND HEALTHY ENVIRONMENT THAT PROMOTES THE HIGHEST QUALITY OF LIFE FOR LOW AND MODERATE-INCOME FAMILIES AND ELDERS. IBA OWNS A RENTAL HOUSING PORFOLIO OF 667 AFFORDABLE UNITS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Maria Vasallo President | OfficerTrustee | 0.2 | $0 |
Javier Flores Vice President | OfficerTrustee | 0.2 | $0 |
Jennifer Fauth Treasurer | OfficerTrustee | 0.2 | $0 |
Pedro Miranda Clerk | OfficerTrustee | 0.2 | $0 |
Hector Cruz Member | Trustee | 0.2 | $0 |
Edwin Seda Member | Trustee | 0.2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Studio Enee Inc Architect | 12/30/22 | $355,555 |
Kenney And Sams Pc Legal Services | 12/30/22 | $235,286 |
Eastern Bank Wealth Management Investment Manager | 12/30/22 | $217,066 |
Dek Associates Consulting Consultant | 12/30/22 | $191,425 |
Davis Square Architects Architect | 12/30/22 | $189,527 |
Statement of Revenue | |
---|---|
Federated campaigns | $69,920 |
Membership dues | $0 |
Fundraising events | $156,739 |
Related organizations | $0 |
Government grants | $1,132,570 |
All other contributions, gifts, grants, and similar amounts not included above | $5,601,495 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $6,960,724 |
Total Program Service Revenue | $10,878,941 |
Investment income | $1,087,115 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$158,184 |
Net Income from Fundraising Events | -$74,765 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $18,804,010 |
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. | $606,832 |
Compensation of current officers, directors, key employees. | $60,683 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,318,607 |
Pension plan accruals and contributions | $34,865 |
Other employee benefits | $443,533 |
Payroll taxes | $222,196 |
Fees for services: Management | $240,991 |
Fees for services: Legal | $354,893 |
Fees for services: Accounting | $120,400 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $834,672 |
Advertising and promotion | $0 |
Office expenses | $213,385 |
Information technology | $141,391 |
Royalties | $0 |
Occupancy | $4,912,457 |
Travel | $8,859 |
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 | $1,794,155 |
Insurance | $0 |
All other expenses | $91,402 |
Total functional expenses | $13,537,869 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $375,885 |
Savings and temporary cash investments | $7,510,439 |
Pledges and grants receivable | $10,983,732 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $175,544 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $289,606 |
Net Land, buildings, and equipment | $52,257,421 |
Investments—publicly traded securities | $0 |
Investments—other securities | $68,184,298 |
Investments—program-related | $15,657,926 |
Intangible assets | $0 |
Other assets | $7,406,388 |
Total assets | $162,841,239 |
Accounts payable and accrued expenses | $1,489,225 |
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 | $51,201,153 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $626,357 |
Total liabilities | $53,316,735 |
Net assets without donor restrictions | $98,622,856 |
Net assets with donor restrictions | $10,901,648 |
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 | $162,841,239 |