Monadnock Affordable Housing Corporation
- Assets
- $30.5m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Keene, NH
- Founding
- 03/2000
- Data as of
- 12/2022
- 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 12/2022, Monadnock Affordable Housing Corporation generated $5.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $3.5m during the year ending 12/2022. While expenses have increased by 1.0% 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
2022
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 | $1,844,522 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,661,957 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,506,479 |
| Total Program Service Revenue | $1,990,840 |
| Investment income | $29,072 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $76,948 |
| 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 | $5,603,339 |
| 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 | $343,633 |
| Fees for services: Legal | $17,476 |
| Fees for services: Accounting | $13,000 |
| 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 | $59,692 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,651 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $197,193 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,203,324 |
| Insurance | $192,334 |
| All other expenses | $126,791 |
| Total functional expenses | $3,503,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,542,570 |
| Savings and temporary cash investments | $2,717,244 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $118,348 |
| 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 | $43,202 |
| Net Land, buildings, and equipment | $23,449,678 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,606,868 |
| Total assets | $30,477,910 |
| Accounts payable and accrued expenses | $197,723 |
| Grants payable | $0 |
| Deferred revenue | $25,000 |
| 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 | $16,778,882 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $90,071 |
| Total liabilities | $17,091,676 |
| Net assets without donor restrictions | $13,386,234 |
| 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 | $30,477,910 |