Metro West Collaborative Development Inc
- Assets
- $10.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 12
- Location
- Newton, MA
- Founding
- 05/1991
- Data as of
- 12/2021
- EIN
- 22-3073668
Organization Overview
Metro West Collaborative Development Inc is located in Newton, MA. The organization was established in 1991. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Metro West Collaborative Development Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metro West Collaborative Development 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, Metro West Collaborative Development Inc generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.0% each year . All expenses for the organization totaled $1.5m during the year ending 12/2021. While expenses have increased by 19.0% 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 ORGANIZE RESIDENTS, MOBILIZE RESOURCES, AND IDENTIFY IDEAS THAT IMPROVE THE QUALITY OF LIFE FOR RESIDENTS OF METRO WEST COMMUNITIES. WE ACCOMPLISH THIS BY:1) CREATING AND PRESERVING AFFORDABLE HOMES2) SUPPORTING ECONOMIC DEVELOPMENT THAT STRENGTHENS NEIGHBORHOODS, TOWNS AND OUR REGION3) BUILDING ALLIANCES WITH PARTNERS AND CONSTITUENCIES THROUGHOUT THE REGION IN ORDER TO INCREASE AWARENESS AND BUILD SUPPORT FOR COMMUNITY DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
METRO WEST CD SEEKS TO ENGAGE RESIDENTS IN LOCAL PLANNING AND DECISION MAKING THAT EFFECTS THEIR NEIGHBORHOODS. RENTAL ACTIVITY FOR HERRING BROOK HILL LLC IS INCLUDED IN THIS PROGRAM.
METRO WEST CD SEEKS TO COMPLETE THE CONSTRUCTION OF 48 UNITS OF AFFORDABLE HOUSING, RECEIVE ALL FINANCING FOR AN ADDITIONALLY PERMITTED 44 UNITS AND OBTAIN ZONING APPROVAL FOR A NEW 40+ UNITS IN 2021.
METRO WEST CD PROVIDES REFERRALS TO HOUSEHOLDS IN SEARCH OF AFFORDABLE HOUSING. WE ALSO COORDINATE LOTTERIES AND TENANT/BUYER SELECTION ON BEHALF OF DEVELOPERS OF AFFORDABLE HOUSING THROUGHOUT MASSACHUSETTS. DURING THE PANDEMIC, METRO WEST CD ADMINISTERED NEARLY $5 MILLION OF EMERGENCY RENTAL ASSISTANCE TO OVER 500 HOUSEHOLDS ON BEHALF OF SEVEN MUNICIPALITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Van Campen Executive Director (until 12/1/21) | Officer | 39 | $109,388 |
Caitlin Madden Executive Director | Officer | 39 | $64,122 |
Suneeth John President | OfficerTrustee | 1 | $0 |
Mike Sherman Treasurer | OfficerTrustee | 1 | $0 |
Bob Flack Clerk | OfficerTrustee | 1 | $0 |
Sherry Ruff Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Meander Studio Inc Architectural Services | 12/30/20 | $308,671 |
Dellbook Jks General Contractor | 12/30/20 | $1,111,744 |
Curtis Construction Company General Contractor | 12/30/20 | $246,002 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $13,247 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $389,695 |
| All other contributions, gifts, grants, and similar amounts not included above | $119,729 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $522,671 |
| Total Program Service Revenue | $1,122,515 |
| Investment income | $439 |
| 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 | $1,645,625 |
| 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. | $180,755 |
| Compensation of current officers, directors, key employees. | $55,268 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $312,774 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,477 |
| Payroll taxes | $43,914 |
| Fees for services: Management | $21,396 |
| Fees for services: Legal | $462 |
| Fees for services: Accounting | $123,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,949 |
| Advertising and promotion | $0 |
| Office expenses | $49,301 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $398,971 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $990 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $181,863 |
| Insurance | $0 |
| All other expenses | -$39,333 |
| Total functional expenses | $1,477,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $350,517 |
| Savings and temporary cash investments | $401,248 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $292,183 |
| 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 | $44,698 |
| Net Land, buildings, and equipment | $6,719,785 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,786 |
| Other assets | $2,898,044 |
| Total assets | $10,716,261 |
| Accounts payable and accrued expenses | $357,364 |
| Grants payable | $0 |
| Deferred revenue | $275,281 |
| 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 | $4,223,347 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,972,012 |
| Total liabilities | $8,828,004 |
| Net assets without donor restrictions | $1,854,300 |
| Net assets with donor restrictions | $33,957 |
| 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 | $10,716,261 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Metro West Collaborative Development Inc has recieved totaling $205,000.
| Awarding Organization | Amount |
|---|---|
Watertown Community Foundation Inc Watertown, MA PURPOSE: EMERGENCY RENTAL ASSISTANCE | $155,000 |
Cambridge Savings Charitable Foundation Inc Cambridge, MA PURPOSE: EXEMPT PURPOSE | $40,000 |
Eastern Bank Charitable Foundation Lynn, MA PURPOSE: EXEMPT PURPOSE | $10,000 |
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 |