Fresh Start Furniture Bank Inc
- Assets
- $1.4m
- Revenue
- $627.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Hudson, MA
- Founding
- 09/2014
- Data as of
- 12/2023
- EIN
- 46-2512827
Organization Overview
Fresh Start Furniture Bank Inc is located in Hudson, MA. The organization was established in 2014. According to its NTEE Classification (P19) the organization is classified as: Support N.E.C., 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. Fresh Start Furniture Bank 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 12/2023, Fresh Start Furniture Bank Inc generated $627.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $627.7k during the year ending 12/2023. While expenses have increased by 14.8% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FRESH START FURNITURE BANK PROVIDES DONATED AND PURCHASED FURNITUREAND HOME GOODS FOR FREE, TO PEOPLE IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION FURNISHED 694 FAMILIES (2,168 INDIVIDUALS) WITH OVER 35,144 PIECES OF FURNITURE AND HOME GOODS
THE ORGANIZATION'S SWEEK DREAMS MATTRESS PROGRAM DISTRIBUTED A TOTAL OF 981 MATTRESSES, FOUNDATIONS, AND FRAMES TO FAMILIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Spellman Director | Trustee | 20 | $0 |
Geoffrey Schultz President | OfficerTrustee | 50 | $0 |
Susan Waudby Treasurer | OfficerTrustee | 40 | $0 |
Jennifer Mandelbaum Director | Trustee | 4 | $0 |
Laurie Wynne Director | Trustee | 4 | $0 |
Robert Vanemburgh Chairman | OfficerTrustee | 20 | $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 | $605,207 |
| Noncash contributions included in lines 1a–1f | $249,242 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $605,207 |
| Total Program Service Revenue | $0 |
| Investment income | $6,428 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,988 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $10,473 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $627,843 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $400,683 |
| 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 | $36,870 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,348 |
| Fees for services: Management | $13,235 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,087 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $3,153 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,405 |
| Office expenses | $1,846 |
| Information technology | $1,230 |
| Royalties | $0 |
| Occupancy | $146,959 |
| Travel | $0 |
| 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 | $1,374 |
| Insurance | $1,808 |
| All other expenses | $0 |
| Total functional expenses | $627,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,027 |
| Savings and temporary cash investments | $622,397 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $523 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $550 |
| Prepaid expenses and deferred charges | $1,453 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $707,357 |
| Total assets | $1,353,307 |
| Accounts payable and accrued expenses | $3,500 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $5,206 |
| Other liabilities | $675,460 |
| Total liabilities | $684,166 |
| Net assets without donor restrictions | $664,910 |
| Net assets with donor restrictions | $4,231 |
| 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 | $1,353,307 |