Medford Community Center Inc
- Assets
- $2.6m
- Revenue
- $891.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Medford, MA
- Founding
- 03/1960
- Data as of
- 12/2021
- EIN
- 04-2260254
Organization Overview
Medford Community Center Inc is located in Medford, MA. The organization was established in 1960. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Medford Community Center 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, Medford Community Center Inc generated $891.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $593.5k during the year ending 12/2021. While expenses have increased by 2.1% 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
TO PROVIDE SUBSIDIZED HOUSING FOR LOW INCOME SENIOR CITIZENS WHO QUALIFY UNDER SECTION 202.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HUD - FINANCED SUBSIDIZED APARTMENT BUILDING FOR LOW INCOME SENIOR CITIZEN RESIDENTS CONSISTING OF THIRTY-FIVE (35) APARTMENTS
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Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $25,602 |
| 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 | $25,602 |
| Total Program Service Revenue | $861,782 |
| Investment income | $1,491 |
| 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 | $891,246 |
| 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 | $115,661 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,718 |
| Payroll taxes | $10,341 |
| Fees for services: Management | $33,972 |
| Fees for services: Legal | $0 |
| 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 | $15,746 |
| Information technology | $7,388 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $41,477 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $73,368 |
| Insurance | $22,484 |
| All other expenses | $58,723 |
| Total functional expenses | $593,531 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,051 |
| Savings and temporary cash investments | $1,634,076 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,843 |
| 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 | $566 |
| Net Land, buildings, and equipment | $935,728 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,602,264 |
| Accounts payable and accrued expenses | $39,290 |
| Grants payable | $0 |
| Deferred revenue | $5,312 |
| 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 | $366,679 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,301 |
| Total liabilities | $425,582 |
| Net assets without donor restrictions | $2,176,682 |
| 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 | $2,602,264 |
Peer Organizations
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|---|---|---|
Community Builders Inc Boston, MA | $148,217,575 | $87,790,279 |
Doe Fund Inc New York, NY | $135,128,444 | $76,076,390 |
First Chinese Presbyterian Community Affairs Home Attendant C New York, NY | $26,741,134 | $40,973,137 |
Corporation For Supportive Housing New York, NY | $191,922,281 | $44,983,722 |
Harbor Homes Inc Nashua, NH | $29,802,318 | $34,009,669 |
Lantern Community Services Inc New York, NY | $8,603,902 | $30,172,757 |
Pathstone Corporation Rochester, NY | $88,645,469 | $21,347,590 |
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |
Boston Tremont Housing Development Fund Corporation New York, NY | $28,761,784 | $24,917,100 |