Bridgewell Danvers Housing Corporation
- Assets
- $613.6k
- Revenue
- $47.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Peabody, MA
- Founding
- 05/2009
- Data as of
- 06/2022
- EIN
- 94-3469228
Organization Overview
Bridgewell Danvers Housing Corporation is located in Peabody, MA. The organization was established in 2009. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgewell Danvers Housing Corporation 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, Bridgewell Danvers Housing Corporation generated $47.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $82.6k during the year ending 06/2022. While expenses have increased by 1.3% per year over the past 7 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 HOUSING FOR THE HANDICAPPED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION EXISTS AS A SUBSIDIARY OF BRIDGEWELL, INC. FOR THE SPECIFIC PURPOSE OF OWNING AND OPERATING REAL PROPERTY FINANCED THROUGH THE HUD 811 PROGRAM. THE PROGRAM OPERATES A FIVE UNIT HOUSING COMPLEX LOCATED IN DANVERS, MASSACHUSETTS. THE APARTMENTS ARE RENTED ONLY TO PERSONS WITH DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Hallett Director | Trustee | 0.2 | $0 |
Samuel Hoff Director | Trustee | 0.2 | $0 |
Jane Puffer Director | Trustee | 0.2 | $0 |
Kristin Guido Clerk | OfficerTrustee | 0.2 | $0 |
Christopher Tuttle CEO | Officer | 0.2 | $0 |
Kenneth Halkin Treasurer/cfo | Officer | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $27,634 |
| 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 | $27,634 |
| Total Program Service Revenue | $19,332 |
| Investment income | $3 |
| 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 | $46,969 |
| 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 | $6,898 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,050 |
| Fees for services: Lobbying | $0 |
| 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 | $40,335 |
| 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 | $24,956 |
| Insurance | $6,936 |
| All other expenses | $0 |
| Total functional expenses | $82,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,199 |
| Savings and temporary cash investments | $1,658 |
| Pledges and grants receivable | $526 |
| 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 | $0 |
| Net Land, buildings, and equipment | $574,296 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,929 |
| Total assets | $613,608 |
| Accounts payable and accrued expenses | $1,708 |
| 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 | $245,610 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $52,235 |
| Total liabilities | $299,553 |
| Net assets without donor restrictions | -$300,345 |
| Net assets with donor restrictions | $614,400 |
| 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 | $613,608 |