Hanover Legion Elderly Housing Corp
- Assets
- $2.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Braintree, MA
- Founding
- 09/1980
- Data as of
- 12/2021
- EIN
- 04-2707590
Organization Overview
Hanover Legion Elderly Housing Corp is located in Braintree, MA. The organization was established in 1980. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Hanover Legion Elderly Housing Corp 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, Hanover Legion Elderly Housing Corp generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.1m 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
THE ORGANIZATION'S MISSION IS TO PROVIDE SIXTY RENTAL UNITS OF HOUSING ON A NON-PROFIT BASIS FOR ELDERLY OR HANDICAPPED PERSONS TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES HOUSING FOR ELDERLY OR HANDICAPPED PERSONS WITH LOW INCOME TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Bailey President | OfficerTrustee | 1 | $0 |
Dorothy Quinn Clerk/treasurer | OfficerTrustee | 1 | $0 |
Donald Buckley Director | Trustee | 1 | $0 |
Joe Salvucci Director | Trustee | 1 | $0 |
Chuck Merritt Director | Trustee | 1 | $0 |
Donna D'amore Hannigan Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Corcoran Management Company Management Services | 12/30/21 | $292,281 |
John Bean Roofing Construction Services | 12/30/21 | $215,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $790,465 |
| 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 | $790,465 |
| Total Program Service Revenue | $326,532 |
| Investment income | $880 |
| 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 | $1,134,988 |
| 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 | $45,454 |
| Fees for services: Legal | $47 |
| Fees for services: Accounting | $15,753 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $246,827 |
| Advertising and promotion | $467 |
| Office expenses | $38,235 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $629,968 |
| 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 | $83,387 |
| Insurance | $0 |
| All other expenses | $505 |
| Total functional expenses | $1,067,932 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,825 |
| Savings and temporary cash investments | $0 |
| 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 | $28,871 |
| Net Land, buildings, and equipment | $1,804,147 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $624,722 |
| Total assets | $2,587,565 |
| Accounts payable and accrued expenses | $131,840 |
| Grants payable | $0 |
| Deferred revenue | $1,061 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $27,881 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,852,060 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,002 |
| Total liabilities | $3,028,844 |
| Net assets without donor restrictions | -$441,279 |
| 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 | $2,587,565 |
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