Oneholyoke Community Development Corporation
- Assets
- $4.7m
- Revenue
- $3.0m
- Investments
- $24.0k
- Employees
- 12
- Location
- Holyoke, MA
- Founding
- 08/1972
- Data as of
- 06/2022
- EIN
- 23-7168031
Organization Overview
Oneholyoke Community Development Corporation, operating under the name Oneholyoke Cdc, is located in Holyoke, 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 06/2022, Oneholyoke Cdc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oneholyoke Cdc 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 06/2022, Oneholyoke Cdc generated $3.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $3.0m during the year ending 06/2022. While expenses have increased by 3.6% per year over the past 6 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
TO HELP DEVELOP LOW AND MODERATE INCOME HOUSING AND ASSIST THE EXPANSION OF BUSINESS IN HOLYOKE, MA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 213 RENTAL UNITS FOR RENT FOR LOW TO MODERATE INCOME INDIVIDUALS. APPROXIMATELY 80 TENANTS RECEIVE SUBSIDIZED RENTAL ASSISTANCE FROM VARIOUS AGENCIES.
COMMUNITY ENGAGEMENT - FURTHERING THE SPIRIT OF HOLYOKE BY ENGAGING OHDC WITH THE LOCAL COMMUNITY THROUGH SPECIAL EVENTS AND PROGRAMS, SUPPORTING COMMUNITY NEEDS.
NIP GRANT PROGRAM - TO ASSIST HOMEOWNERS WITH HOME IMPROVEMENT PROJECTS TO IMPROVE THE OVERALL QUALITY OF LIFE IN THE CITY OF HOLYOKE. GRANT FUNDS OF $177,838 WERE EXPENDED ON QUALIFIED HOME IMPROVEMENTS. THIS PROGRAM RESULTED IN HOME REPAIRS TO 17 HOMEOWNERS IN HOLYOKE, MA.
RNIP LOAN PROGRAM - THE HOLYOKE RENTAL NEIGHBORHOOD IMPROVEMENT PROGRAM PROVIDES LOW INTEREST LOANS TO RENTAL PROPERTY OWNERS TO PROVIDE QUALITY HOUSING IN THE CITY OF HOLYOKE. LOANS MAY BE USED TO MAKE BUILDING IMPROVEMENTS INCLUDING ENERGY SAVING REHAB LIKE WINDOWS, DOORS AND HVAC SYSTEMS OR TO ADDRESS CODE/BUILDING VIOLATIONS. FUNDING MUST RESULT IN OCCUPIABLE UNITS WHICH MEET HUD HQS STANDARDS. INTERIM FINANCING AND REFINANCING OF EXISTING DEBT IS NOT PERMITTED. AT PROJECT COMPLETION, 51% OF TENANTS MUST MEET THE SECTION 8 INCOME LIMITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Moriarty Executive Director | Officer | 35 | $72,833 |
Walter Nalesnik Chairman | OfficerTrustee | 1 | $0 |
Armando Santiago Co-Chair | OfficerTrustee | 1 | $0 |
Duane Camp Treasurer | OfficerTrustee | 1 | $0 |
Victor Rodriguez Sr Clerk | OfficerTrustee | 1 | $0 |
Maurice N Lacasse Director | Trustee | 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 | $206,288 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $206,288 |
| Total Program Service Revenue | $2,721,194 |
| Investment income | $8,780 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,472 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,974,878 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $283,288 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $100,961 |
| Compensation of current officers, directors, key employees. | $75,721 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $528,103 |
| Pension plan accruals and contributions | $24,530 |
| Other employee benefits | $129,058 |
| Payroll taxes | $51,296 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $93,343 |
| Fees for services: Accounting | $163,445 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $153,957 |
| Advertising and promotion | $683 |
| Office expenses | $65,506 |
| Information technology | $45,109 |
| Royalties | $0 |
| Occupancy | $697,157 |
| Travel | $24,410 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,684 |
| Interest | $7,746 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $286,393 |
| Insurance | $185,738 |
| All other expenses | $5,681 |
| Total functional expenses | $2,954,981 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $432,237 |
| Savings and temporary cash investments | $591,572 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,352 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $159,736 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $84,732 |
| Net Land, buildings, and equipment | $2,955,768 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $23,966 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $438,865 |
| Total assets | $4,721,228 |
| Accounts payable and accrued expenses | $439,337 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $208,301 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $290,200 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $937,838 |
| Net assets without donor restrictions | $2,968,513 |
| Net assets with donor restrictions | $814,877 |
| 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 | $4,721,228 |