Inn Transition Inc
- Assets
- $2.5m
- Revenue
- $67.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Peabody, MA
- Founding
- 03/2008
- Data as of
- 06/2022
- EIN
- 26-1476132
Organization Overview
Inn Transition Inc is located in Peabody, MA. The organization was established in 2008. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, 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. Inn Transition Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 06/2022, Inn Transition Inc generated $67.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $67.6k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OWN, MANAGE, AND MAINTAIN RESIDENTAL REAL ESTATE FOR THE HOUSING AND BENEFIT OF THOSE EXPERIENCING HOMELESSNESS AND LOW INCOME FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWN, MANAGE AND MAINTAIN RESIDENTIAL REAL ESTATE FOR THE HOUSING AND BENEFIT OF THOSE EXPERIENCING HOMELESSNESS AND LOW INCOME FAMILIES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Pettingill President | OfficerTrustee | 2 | $0 |
Phil Noto Treasurer | OfficerTrustee | 2 | $0 |
Stephanie Blomberg Clerk | OfficerTrustee | 2 | $0 |
Melanie Skane Vice President | OfficerTrustee | 2 | $0 |
Holly Gately Director | Trustee | 2 | $0 |
Jean Ward Director | Trustee | 2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $67,567 |
| Investment income | $60 |
| 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 | $67,627 |
| 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 | $1,600 |
| 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 | -$14 |
| 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 | $9,482 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,559 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $67,627 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,849 |
| Savings and temporary cash investments | $0 |
| 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 | $1,858,677 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $601,963 |
| Total assets | $2,522,489 |
| Accounts payable and accrued expenses | $1,334 |
| 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 | $2,492,119 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $27 |
| Total liabilities | $2,493,480 |
| Net assets without donor restrictions | $29,009 |
| 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 | $2,522,489 |
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