H-C Management Services Inc
- Assets
- $17.0m
- Revenue
- $190.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Holyoke, MA
- Founding
- 03/1986
- Data as of
- 09/2021
- EIN
- 22-2515981
Organization Overview
H-C Management Services Inc is located in Holyoke, MA. The organization was established in 1986. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. H-C Management Services 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 09/2021, H-C Management Services Inc generated $190.0k in total revenue.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ACQUIRE, HOLD, MANAGE, MAINTAIN, DEVELOP, AND/OR DISPOSE OF REAL PROPERTY ON BEHALF OF AFFILIATED TAX-EXEMPT ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
H-C MANAGEMENT SERVICES, INC. OWNS AND OPERATES A NEW EMERGENCY DEPARTMENT MEDICAL OFFICE BUILDING FOR THE BENEFIT OF ITS SUPPORTED ORGANIZATIONS. THE BUILDING QUALIFIED FOR THE NEW MARKET TAX CREDIT (NMTC) DURING CONSTRUCTION DUE TO ITS POTENTIAL FOR CREATING NEW JOBS AND MEETING THE HEALTHCARE NEEDS OF THE COMMUNITY. IT INCLUDES AN EMERGENCY ROOM, ANCILLARY DEPARTMENTS, AND MEDICAL OFFICE SPACE.AS A RESULT OF PARTICIPATION IN THE NMTC PROGRAM, H-C MANAGEMENT SERVICES LEASES LAND FROM THE MEDICAL CENTER, OWNS AND OPERATES THE NEW EMERGENCY ROOM BUILDING, AND HAS AN OPERATING LEASE AGREEMENT WITH THE MEDICAL CENTER FOR THE USE OF THE PROPERTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael J Koziol Treasurer & CFO (end Jan 21) | OfficerTrustee | 2.5 | $0 |
Spiridon E Hatiras President & Ceo, Clerk | OfficerTrustee | 2.5 | $0 |
Dean Vitarisi Treasurer & CFO (start Jan 21) | OfficerTrustee | 2.5 | $0 |
Jeff Hayden Chair | OfficerTrustee | 0.5 | $0 |
Carl Eger Director | Trustee | 0.5 | $0 |
Carl Cameron Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
G Green Construction Co Inc General Contractors | 9/29/17 | $12,249,533 |
Smrt Inc Architect/engineer | 9/29/17 | $214,879 |
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 | $190,000 |
| Investment income | $19 |
| 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 | $190,019 |
| 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 | $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 | $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 | $240,077 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $661,009 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $901,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,156 |
| Savings and temporary cash investments | $61,599 |
| 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 | $0 |
| Net Land, buildings, and equipment | $16,860,224 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,982,979 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $17,061,205 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $17,061,205 |
| Net assets without donor restrictions | -$78,226 |
| 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 | $16,982,979 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Civic Concourse Village Corporation New York, NY | $28,206,759 | $2,332,033 |
Boston Impact Initiative Fund Jamaica Plain, MA | $9,324,957 | $1,483,915 |
Circulo Real Property Holding Corporation Garden City, NY | $14,540,047 | $1,206,514 |
Bartlett Place Land Inc Roxbury, MA | $22,793,078 | $357,748 |
Downtown Committee Of Syracuse Inc Syracuse, NY | $1,105,419 | $1,527,939 |
Helen Schuyler Tr Uw Bo Community Foundation Elmira, NY | $20,149,017 | $3,771,137 |
H-C Management Services Inc Holyoke, MA | $16,982,979 | $190,019 |
Pine Banks Park Foundation Malden, MA | $3,209,592 | $822,137 |
Park Side 104 Housing Development Fund Company Inc New York, NY | $2,165,362 | $410,244 |
Schuyler County Human Servicesdevelopment Corporation Watkins Glen, NY | $3,537,005 | $364,575 |
King Street Center Foundation Burlington, VT | $0 | $1,865,379 |
South Burlington Library Foundation Inc South Burlington, VT | $221,192 | $309,750 |