Brownstone Gardens Inc
- Assets
- $13.9m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- east longmeadow, MA
- Founding
- 06/2018
- Data as of
- 12/2022
- EIN
- 82-3572469
Organization Overview
Brownstone Gardens Inc is located in east longmeadow, MA. The organization was established in 2018. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Brownstone Gardens 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, Brownstone Gardens Inc generated $1.7m in total revenue. All expenses for the organization totaled $1.6m during the year ending 12/2022. While expenses have increased by 112.9% per year over the past 3 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
LOW INCOME ELDERLY HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING FOR APPROXIMATELY 132 LOW INCOME ELDERLY RESIDENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Van Tassel President | OfficerTrustee | 0.5 | $0 |
James Broderick Jr Vice President | OfficerTrustee | 0.25 | $0 |
Amy Ferrero Treas/secrty | OfficerTrustee | 0.25 | $0 |
Raymond Miller Director | Trustee | 0.25 | $0 |
Marilyn Richards Director | Trustee | 0.25 | $0 |
Dawn Starks Director | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Saloomey Construction Inc Construction | 12/30/22 | $1,024,777 |
Carr Property Management Inc Management Services | 12/30/22 | $553,897 |
Fire Equipment Inc Sprinkler Installation | 12/30/22 | $110,219 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $490,799 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $492,799 |
| Total Program Service Revenue | $1,225,781 |
| Investment income | $2,623 |
| 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 | $1,726,821 |
| 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 | $110,998 |
| Fees for services: Legal | $118 |
| Fees for services: Accounting | $28,916 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,186 |
| Advertising and promotion | $846 |
| Office expenses | $37,938 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $259,715 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $150 |
| Interest | $415,451 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $88,940 |
| Insurance | $77,514 |
| All other expenses | $8,932 |
| Total functional expenses | $1,564,862 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $419,749 |
| Savings and temporary cash investments | $181,764 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36 |
| 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 | $626,686 |
| Net Land, buildings, and equipment | $11,484,764 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,174,290 |
| Total assets | $13,887,289 |
| Accounts payable and accrued expenses | $310,363 |
| Grants payable | $0 |
| Deferred revenue | $195 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $103,896 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $8,251,613 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,573,962 |
| Total liabilities | $13,240,029 |
| Net assets without donor restrictions | $647,260 |
| 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 | $13,887,289 |