Lynn Housing Authority Development Group Inc
- Assets
- $366.8k
- Revenue
- $632.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Lynn, MA
- Founding
- 02/2010
- Data as of
- 12/2021
- EIN
- 54-2084084
Organization Overview
Lynn Housing Authority Development Group Inc is located in Lynn, MA. The organization was established in 2010. According to its NTEE Classification (L02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lynn Housing Authority Development Group 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 12/2021, Lynn Housing Authority Development Group Inc generated $632.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $736.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lynn Housing Authority Development Group Inc has awarded 15 individual grants totaling $710,012. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION IS ORGANIZED TO PROVIDE CHARITABLE ASSISTANCE TO THE GENERAL PUBLIC BY PROVIDING AFFORDABLE HOUSING THROUGH THE PURCHASE, SALE, RENTING AND LEASING OF DWELLINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL ASSISTANCE - A PROGRAM TO ASSIST INDIVIDUALS AND FAMILIES TO QUICKLY REGAIN STABILITY IN PERMANENT HOUSING AFTER EXPERIENCING A HOUSING CRISIS OR HOMELINESS, WITH TWO PROGRAM COMPONENTS, HOMELESSNESS PREVENTION AND REPAID RE-HOUSING.
FINANCIAL COUNSELING - THE FINANCIAL COACHING PROGRAM IS DESIGNED TO HELP FAMILIES/INDIVIDUALS HAVE A BETTER UNDERSTANDING OF ONE'S FINANCES, LEADING TO FINANCIAL STABILITY. THE FINANCIAL COACHING PROGRAM PROVIDES REGULAR ONE-ON-ONE AND WORKSHOP SESSIONS WITH CLIENTS IN ORDER TO GUIDE CLIENTS TO MEET THEIR GOALS AND FINANCIAL INDEPENDENCE. THE FINANCIAL COACHING PROGRAM IS A UNITED WAY SUPPORTED PROGRAM THAT CAN ASSIST WITH CREDIT BUILDING, CREDIT REPAIRING, BUDGETING, MONEY MANAGEMENT, DEBT COLLECTIONS, DELINQUENT BILLS, DEBT CONSOLIDATION, ETC.
PROJECT RISE/ SEIMER PROGRAM - A COLLABORATION WITH LYNN PUBLIC SCHOOLS WORKING WITH FAMILIES EXPERIENCING HOUSING INSTABILITY AND HAVE AT LEAST ONE CHILD IN LYNN PUBLIC SCHOOLS. THIS PROGRAM OFFERS CASE MANAGEMENT AND COACHING TOWARDS A FAMILY'S HOUSING AND EDUCATION GOALS. FINANCIAL AND OTHER MATERIAL ASSISTANCE, A TWO-GENERATIONAL APPROACH TO SERVICE DELIVERY, AND A STRATEGIC PARTNERSHIP WITH THE SCHOOL DISTRICT AND OTHER LOCALSERVICE PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Walsh Chairperson/clerk | OfficerTrustee | 1 | $0 |
Steve Martin Vice Chairperson | OfficerTrustee | 1 | $0 |
Susan Mcginnis-Lang Treasurer | OfficerTrustee | 1 | $0 |
Justin Ansewitz Director | Trustee | 1 | $0 |
Robert Muise Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $340,422 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $289,514 |
| 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 | $629,936 |
| Total Program Service Revenue | $2,568 |
| Investment income | $98 |
| 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 | $632,602 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $108,947 |
| Grants and other assistance to domestic individuals. | $393,086 |
| 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 | $2,517 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $184,029 |
| Advertising and promotion | $0 |
| Office expenses | $17,131 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,386 |
| 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 | $0 |
| Insurance | $3,238 |
| All other expenses | $0 |
| Total functional expenses | $736,334 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,276 |
| Savings and temporary cash investments | $176,240 |
| Pledges and grants receivable | $41,980 |
| Accounts receivable, net | $0 |
| 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 | $320 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $366,816 |
| Accounts payable and accrued expenses | $69,879 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $69,879 |
| Net assets without donor restrictions | $263,769 |
| Net assets with donor restrictions | $33,168 |
| 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 | $366,816 |
Grants Awarded
Over the last fiscal year, Lynn Housing Authority Development Group Inc has awarded $108,947 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LYNN PUBLIC SCHOOLS PURPOSE: SEIMER "RISE" PROGRAM | $63,430 |
LYNN HOUSING AUTHORITY PURPOSE: HMIS - EMEREGENCY SOLUTIUION COVID-19 | $45,517 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lynn Housing Authority Development Group Inc has recieved totaling $319,127.
| Awarding Organization | Amount |
|---|---|
United Way Of Massachusetts Bay Inc Boston, MA PURPOSE: Community Impact | $319,127 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Belmont Housing Resources For Wny Inc Buffalo, NY | $19,065,783 | $9,706,045 |
Urban Homesteading Assistance U-Hab New York, NY | $22,567,272 | $3,104,949 |
Housing Opportunities Corporation Providence, RI | $1,904,732 | $3,288,051 |
Bethany Community Services Inc Haverhill, MA | $33,080,393 | $11,977,619 |
Hanac Spiti Management Company Inc Astoria, NY | $680,394 | $2,214,088 |
St Luke Services Corporation Oswego, NY | $1,164,061 | $2,696,368 |
Senior Citizens Housing Committee Inc Greenlawn, NY | $15,044,248 | $2,702,685 |
Marbury Terrace Inc Jamaica Plain, MA | $26,618,029 | $822,238 |
Lynn Housing Authority Development Group Inc Lynn, MA | $366,816 | $632,602 |
479 Courtlandt Avenue Housing Development Fund Corporation Bronx, NY | $2,079,159 | $407,298 |
Parkhurst Community Housing Inc White River Jct, VT | $2,626,704 | $184,297 |
3948 Amboy Rd Realty Corp Staten Island, NY | $1,997,483 | -$42,179 |