Yns Affordable Housing Inc
- Assets
- $249.3k
- Revenue
- $299.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Beverly, MA
- Founding
- 08/2013
- Data as of
- 12/2023
- EIN
- 27-4406835
Organization Overview
Yns Affordable Housing Inc is located in Beverly, MA. The organization was established in 2013. According to its NTEE Classification (P28) the organization is classified as: Neighborhood Centers, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Yns Affordable Housing Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Yns Affordable Housing Inc generated $299.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $577.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 8 years. 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 AFFORDABLE AND SAFE HOUSING TO INDIVIDUALS AND FAMILIES OF NEED WITHIN THE COMMUNITIES OF THE YMCA OF THE NORTH SHORE, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION MAINTAINS 68 SINGLE ROOM UNITS OF AFFORDABLE HOUSING FOR THOSE IN NEED AND MEETS THE REQUIRED FEDERAL AND STATE QUALIFICATIONS. THE BUILDING ACTS AS A COMMUNITY AND PROVIDES A SUPPORT SYSTEM FOR THOSE IN NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Lovasco President | OfficerTrustee | 1 | $0 |
William J Leaver Director | OfficerTrustee | 1 | $0 |
Jennifer Buras Director | OfficerTrustee | 1 | $0 |
Michael Wheeler Treasurer | OfficerTrustee | 1 | $0 |
Kevin Mccarthy Director | OfficerTrustee | 1 | $0 |
Alexander Thomas Counselor | OfficerTrustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $298,154 |
| Investment income | $0 |
| 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 | $299,263 |
| 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. | $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 | $0 |
| Fees for services: Legal | $3,410 |
| Fees for services: Accounting | $19,720 |
| Fees for services: Lobbying | $660 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $80,180 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,299 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,921 |
| Insurance | $0 |
| All other expenses | $31,785 |
| Total functional expenses | $577,384 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,357 |
| Savings and temporary cash investments | $6,095 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,668 |
| 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 | $209 |
| Net Land, buildings, and equipment | $74,085 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $94,862 |
| Total assets | $249,276 |
| Accounts payable and accrued expenses | $29,025 |
| Grants payable | $0 |
| Deferred revenue | $436 |
| 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 | $320,275 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $984,825 |
| Total liabilities | $1,334,561 |
| Net assets without donor restrictions | -$1,085,285 |
| 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 | $249,276 |