Andover Community Trust Inc
- Assets
- $1.8m
- Revenue
- $155.6k
- Investments
- $0.0
- Employees
- 1
- Location
- Andover, MA
- Founding
- 04/1997
- Data as of
- 12/2021
- EIN
- 04-3159877
Organization Overview
Andover Community Trust Inc is located in Andover, MA. The organization was established in 1997. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, 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. Andover Community Trust 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, Andover Community Trust Inc generated $155.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.6% each year . All expenses for the organization totaled $65.8k during the year ending 12/2021. While expenses have increased by 3.5% 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 AFFORDABLE HOUSING IN ANDOVER
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AFFORDABLE HOUSING IN ANDOVER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise Johnson Executive Dir. | Trustee | 20 | $45,000 |
Ellen Arvidson Director | OfficerTrustee | 0.5 | $0 |
Sandy Sousa Vice President | OfficerTrustee | 0.5 | $0 |
Kate Margolese Vice President | OfficerTrustee | 1 | $0 |
Blake Martin President | OfficerTrustee | 1 | $0 |
Priscilla Loring Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $17,780 |
| All other contributions, gifts, grants, and similar amounts not included above | $137,188 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $154,968 |
| Total Program Service Revenue | $0 |
| Investment income | $615 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $155,590 |
| 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. | $45,000 |
| 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 | $2,604 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $42 |
| Office expenses | $2,864 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,800 |
| 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 | $0 |
| Insurance | $5,012 |
| All other expenses | $636 |
| Total functional expenses | $65,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,884 |
| Savings and temporary cash investments | $214,506 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $181,475 |
| 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 | $0 |
| Net Land, buildings, and equipment | $618,645 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $795,907 |
| Total assets | $1,846,417 |
| Accounts payable and accrued expenses | $44,237 |
| Grants payable | $0 |
| Deferred revenue | $24,343 |
| 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 | $714,750 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $783,330 |
| Net assets without donor restrictions | $1,063,087 |
| 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 | $1,846,417 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Andover Community Trust Inc has recieved totaling $41,340.
| Awarding Organization | Amount |
|---|---|
Rogers Family Foundation Boston, MA PURPOSE: BUILDING AFFORDABLE HOUSING AND TRAINING STUDENT TRADESPEOPLE IN ANDOVER | $15,000 |
The Garth Family Foundation Boston, MA PURPOSE: AFFORDABLE HOUSING - LUPINE | $15,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $5,806 |
Institution For Savings In Newbrypt & Its Vcnty Chrtble Foundation Inc Newburyport, MA PURPOSE: EXEMPT PURPOSE | $5,000 |
Salem Five Charitable Foundation Inc Salem, MA PURPOSE: EXEMPT PURPOSES | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $34 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Home Headquarters Inc Syracuse, NY | $61,706,462 | $11,933,384 |
Depaul Properties Inc Rochester, NY | $60,046,501 | $8,018,697 |
Center Communities Of Brookline Inc Boston, MA | $21,612,727 | $5,843,127 |
Hrca Brookline Housing 1550 Beacon Plaza Boston, MA | $18,498,571 | $4,652,823 |
North Shore Community Development Coalition Inc Salem, MA | $17,290,346 | $6,893,056 |
Troy Rehabilitation And Improvement Program Inc Troy, NY | $4,527,116 | $4,140,655 |
Opportunity Headquarters Inc Syracuse, NY | $931,819 | $3,257,864 |
Rebuilding Together-Saratoga County Ballston Spa, NY | $1,364,946 | $2,773,949 |
Mutual Housing Association Of Southwestern Connecticut Inc Trumbull, CT | $16,772,020 | $2,661,661 |
Neighborhood Housing Services Of Rochester Inc Rochester, NY | $8,905,786 | $3,020,780 |
Albany County Land Bank Corporation Albany, NY | $10,389,467 | $1,512,121 |
Fenway Community Development Corp Boston, MA | $34,067,808 | $3,370,772 |