Worcester Community Housing Resources Inc
- Assets
- $25.6m
- Revenue
- $2.1m
- Investments
- $1.4m
- Employees
- 10
- Location
- Worcester, MA
- Founding
- 09/1986
- Data as of
- 12/2020
- EIN
- 22-2719744
Organization Overview
Worcester Community Housing Resources Inc is located in Worcester, MA. The organization was established in 1986. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2020, Worcester Community Housing Resources Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2020, Worcester Community Housing Resources Inc generated $2.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $2.1m during the year ending 12/2020. While expenses have increased by 6.1% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO HELP CREATE AND PRESERVE AFFORDABLE HOUSING AND TO INITIATE AND SUPPORT NEIGHBORHOOD REVITALIZATION IN THE GREATER WORCESTER AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES AND TO LOCATED, PURCHASE, RENOVATE AND RESELL NEGLECTED PROPERTIES IN LOW INCOME NEIGHBORHOODS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Schanck-Bolwell Executive Director | 37.5 | $107,716 | |
Andrew Howarth Director Of Development | 37.5 | $105,327 | |
Elizabeth Sanning Vice President | OfficerTrustee | 1 | $0 |
Lynda K Monahan Treasurer | OfficerTrustee | 1 | $0 |
James Hayes President | OfficerTrustee | 1 | $0 |
John P Foley Director | Trustee | 1 | $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 | $545,147 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $545,147 |
| Total Program Service Revenue | $1,398,820 |
| Investment income | $2,537 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,915 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,075,356 |
| 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. | $159,484 |
| Compensation of current officers, directors, key employees. | $9,569 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $407,326 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $114,409 |
| Payroll taxes | $48,018 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,471 |
| Fees for services: Accounting | $28,000 |
| 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 | $67,514 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $297,707 |
| Travel | $1,727 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $86,650 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $221,298 |
| Insurance | $87,319 |
| All other expenses | $23,471 |
| Total functional expenses | $2,050,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $875,953 |
| Savings and temporary cash investments | $9,741 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $156,282 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,226,436 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $122,325 |
| Net Land, buildings, and equipment | $5,018,745 |
| Investments—publicly traded securities | $107,983 |
| Investments—other securities | $1,390,510 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,729,678 |
| Total assets | $25,637,653 |
| Accounts payable and accrued expenses | $80,772 |
| 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 | $3,463,124 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,270,213 |
| Total liabilities | $4,814,109 |
| Net assets without donor restrictions | $20,004,723 |
| Net assets with donor restrictions | $818,821 |
| 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 | $25,637,653 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Worcester Community Housing Resources Inc has recieved totaling $8,000.
| Awarding Organization | Amount |
|---|---|
Webster Five Foundation Inc Auburn, MA PURPOSE: EXEMPT PURPOSE | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buffalo Civic Auto Ramps Inc Buffalo, NY | $1,295,027 | $8,289,384 |
Third Sector Capital Partners Inc Boston, MA | $9,236,394 | $11,702,979 |
National Standards Authority Of Ireland Inc Nashua, NH | $7,440,232 | $8,610,533 |
Data & Society Research Institute New York, NY | $10,964,763 | $6,459,971 |
Marxe Family Foundation Inc New York, NY | $14,026,419 | $1,978,930 |
Greater Syracuse Property Development Corporation Syracuse, NY | $6,042,694 | $3,813,121 |
Bend The Arc Jewish Action Inc New York, NY | $3,102,192 | $4,120,102 |
Build Commonwealth Inc Boston, MA | $9,946,582 | $11,363,097 |
East Mid-Manhattan District Management Association Inc New York, NY | $2,986,970 | $3,548,973 |
New York 811 Inc Bohemia, NY | $3,788,269 | $3,136,091 |
Boston Public Market Boston, MA | $11,582,740 | $1,737,815 |
Worcester Community Housing Resources Inc Worcester, MA | $25,637,653 | $2,075,356 |