Monadnock Affordable Housing Corporation
- Assets
- $28.2m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Keene, NH
- Founding
- 03/2000
- Data as of
- 12/2021
- EIN
- 02-0511413
Organization Overview
Monadnock Affordable Housing Corporation is located in Keene, NH. The organization was established in 2000. 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. Monadnock Affordable 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 12/2021, Monadnock Affordable Housing Corporation generated $6.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $3.9m during the year ending 12/2021. While expenses have increased by 2.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE AFFORDABLE HOUSING TO LOW-INCOME PERSONS AND MANAGEMENT AND MAINTENANCE SERVICES FOR LOW-INCOME HOUSING PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE AFFORDABLE HOUSING MANAGEMENT AND MAINTENANCE SERVICES TO OTHER NON-PROFIT ORGANIZATIONS.
THE ORGANIZATION OWNS AND MANAGES AFFORDABLE HOUSING PROJECTS IN KEENE, NEW HAMPSHIRE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Meehan Chairperson | Trustee | 5 | $0 |
Jb Mack Vice Chairperson | Trustee | 5 | $0 |
Tom Moses Treasurer | Trustee | 5 | $0 |
Amy Wright Secretary | Trustee | 5 | $0 |
Linda Mangones Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,676,954 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,634,119 |
| Noncash contributions included in lines 1a–1f | $2,071,230 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,311,073 |
| Total Program Service Revenue | $1,349,061 |
| Investment income | $20,353 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $61,687 |
| 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 | $6,742,174 |
| 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 | $296,296 |
| Fees for services: Legal | $44,601 |
| Fees for services: Accounting | $10,000 |
| 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 | $7,580 |
| Information technology | $30,127 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,256 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $196,976 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,068,579 |
| Insurance | $136,100 |
| All other expenses | $67,851 |
| Total functional expenses | $3,917,033 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,019,224 |
| Savings and temporary cash investments | $2,553,012 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $210,549 |
| 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 | $41,546 |
| Net Land, buildings, and equipment | $22,959,376 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,458,173 |
| Total assets | $28,241,880 |
| Accounts payable and accrued expenses | $203,182 |
| Grants payable | $0 |
| Deferred revenue | $24,839 |
| 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 | $17,053,888 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $105,665 |
| Total liabilities | $17,387,574 |
| Net assets without donor restrictions | $10,854,306 |
| 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 | $28,241,880 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Monadnock Affordable Housing Corporation has recieved totaling $125,750.
| Awarding Organization | Amount |
|---|---|
New Hampshire Charitable Foundation Concord, NH PURPOSE: for the Forest View solar project; | $125,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Champlain Housing Tr Burlington, VT | $156,492,954 | $31,041,858 |
Neville Communities Home Inc Cambridge, MA | $11,055,368 | $17,412,264 |
Affordable Housing And Services Collaborative Inc Braintree, MA | $170,389,416 | $17,704,653 |
Fairhaven Healthcare Center Inc Lowell, MA | $23,711,383 | $11,897,110 |
National Affordable Housing Foundation Schenectady Inc Waltham, MA | $11,290,760 | $3,782,521 |
Neighborhood Of Affordable Housing Inc East Boston, MA | $27,971,204 | $13,300,567 |
Inquilinos Boricuas En Accion Inc Boston, MA | $173,108,948 | $16,934,744 |
Milton-Fuller Housing Corporation Milton, MA | $76,615,525 | $9,254,138 |
Owl Tallahassee Housing Inc Boston, MA | $28,680,052 | $6,023,225 |
Avesta Housing Management Corporation Portland, ME | $3,765,380 | $8,258,375 |
Hearth Inc Boston, MA | $12,790,165 | $7,949,326 |
Springhouse Inc Boston, MA | $37,736,932 | $9,492,146 |