437 Essex Inc
- Assets
- $4.4m
- Revenue
- $786.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Beverly, MA
- Founding
- 09/1979
- Data as of
- 06/2022
- EIN
- 04-2679253
Organization Overview
437 Essex Inc is located in Beverly, MA. The organization was established in 1979. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. As of 06/2022, 437 Essex Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 437 Essex 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 06/2022, 437 Essex Inc generated $786.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $700.0k during the year ending 06/2022. 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
RENTAL TO OTHER EXEMPT ORGANIZATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTALS OF BUILDINGS AND MOTOR VEHICLES TO EXEMPT ORGANIZATIONS PROVIDING DAY ACTIVITY PROGRAMS AND RESIDENTIAL PROGRAMS TO RETARDED ADULTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Potvin Executive Director | Trustee | 30 | $64,780 |
Gerald Hall President | Officer | 0 | $0 |
Gail Hall Treasurer | Officer | 0 | $0 |
Peter Roy Clerk | Officer | 0 | $0 |
Edward Lomasney Director | Trustee | 0 | $0 |
J Gerard Roy Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,315 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,315 |
| Total Program Service Revenue | $716,431 |
| Investment income | $5,133 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $43,281 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $786,160 |
| 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. | $64,780 |
| Compensation of current officers, directors, key employees. | $16,195 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,342 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,856 |
| Payroll taxes | $7,896 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,678 |
| Fees for services: Accounting | $12,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,503 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $39,807 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $322,782 |
| Insurance | $123,823 |
| All other expenses | $0 |
| Total functional expenses | $700,011 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $160,026 |
| Pledges and grants receivable | $0 |
| 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 | $3,549 |
| Net Land, buildings, and equipment | $3,985,570 |
| Investments—publicly traded securities | $250,226 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,399,371 |
| Accounts payable and accrued expenses | $8,777 |
| Grants payable | $0 |
| Deferred revenue | $65,545 |
| 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 | $727,041 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $124,047 |
| Total liabilities | $925,410 |
| Net assets without donor restrictions | $3,473,961 |
| 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 | $4,399,371 |
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