Spring Meadows Association Of Responsible Tenants Inc
- Assets
- $12.9m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, MA
- Founding
- 08/1996
- Data as of
- 09/2023
- EIN
- 04-3159643
Organization Overview
Spring Meadows Association Of Responsible Tenants Inc is located in Springfield, MA. The organization was established in 1996. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, 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. Spring Meadows Association Of Responsible Tenants 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 09/2023, Spring Meadows Association Of Responsible Tenants Inc generated $4.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $5.2m during the year ending 09/2023. While expenses have increased by 4.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ACQUIRE, REHABILITATE AND OPERATE AN AFFORDABLE HOUSING PROJECT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AFFORDABLE HOUSING AND RESIDENT SERVICES PROGRAM TO LOW INCOME FAMILIES. THERE ARE 270 UNITS ALL TWO AND THREE BEDROOM TOWNHOUSES ALL OCCUPIED BY FAMILIES WITH CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keya Hicks President | OfficerTrustee | 1 | $0 |
Marisabel Colon Vice President/ Treasurer | OfficerTrustee | 1 | $0 |
Ann Jamison Director | Trustee | 1 | $0 |
Chris Alvarez Director | Trustee | 1 | $0 |
Raven Colon Clerk/secretary | OfficerTrustee | 1 | $0 |
Laura Velazquez Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mount Holyoke Management Management Agent | 9/29/23 | $916,054 |
Interstate Plumbing & Heating Maintenance | 9/29/23 | $502,925 |
Cecelia Pastor Reyes Dba Fjm Home C Flooring Contractor | 9/29/23 | $123,532 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $4,355,625 |
| Investment income | $5,494 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $137,580 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,498,699 |
| 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 | $208,413 |
| Fees for services: Legal | $132,058 |
| Fees for services: Accounting | $13,980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $673,542 |
| Advertising and promotion | $689 |
| Office expenses | $127,601 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,574,087 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $374,578 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,116,860 |
| Insurance | $536,742 |
| All other expenses | $29,381 |
| Total functional expenses | $5,159,744 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $305,682 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $139,237 |
| 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 | $217,458 |
| Net Land, buildings, and equipment | $11,348,335 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $868,346 |
| Total assets | $12,879,058 |
| Accounts payable and accrued expenses | $58,284 |
| Grants payable | $0 |
| Deferred revenue | $96,550 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $99,075 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $24,144,675 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $24,398,584 |
| Net assets without donor restrictions | -$11,519,526 |
| 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 | $12,879,058 |