Melrose Affordable Housing Corp
- Assets
- $2.3m
- Revenue
- $245.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Melrose, MA
- Founding
- 06/2002
- Data as of
- 12/2021
- EIN
- 30-0034668
Organization Overview
Melrose Affordable Housing Corp is located in Melrose, MA. The organization was established in 2002. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Melrose Affordable Housing Corp 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, Melrose Affordable Housing Corp generated $245.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $276.1k during the year ending 12/2021. While expenses have increased by 3.4% 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
AFFORDABLE HOUSING RENTAL RATES FOR INDIVIDUALS WITH LOW INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE RENTAL HOUSING
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Na Director | Trustee | 1 | $0 |
Steve Anderson President | OfficerTrustee | 1 | $0 |
Ellen Connolly Treasurer | OfficerTrustee | 1 | $0 |
Joan Cassidy Assistant Treasurer | Trustee | 1 | $0 |
Gail Infurna Community Director | Trustee | 1 | $0 |
Dana Lewinter Community Director | Trustee | $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 | $19,025 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,025 |
| Total Program Service Revenue | $226,168 |
| Investment income | $449 |
| 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 | $245,642 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,525 |
| 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 | $22,426 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,700 |
| 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 | $48,759 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $89,646 |
| Insurance | $15,578 |
| All other expenses | $844 |
| Total functional expenses | $276,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $330,676 |
| 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 | $1,926,205 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,256,881 |
| 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 | $2,312,802 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,263 |
| Total liabilities | $2,329,065 |
| Net assets without donor restrictions | -$72,184 |
| 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 | $2,256,881 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Melrose Affordable Housing Corp has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Melrose Cooperative Bank Foundation Melrose, MA PURPOSE: GENERAL OPERATINGSUPPORT | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nhp Foundation New York, NY | $288,555,579 | $98,614,983 |
Nycha Ii Housing Development Fund Corporation New York, NY | $21,607,256 | $75,418,815 |
Housing Assistance Corporation Hyannis, MA | $20,544,372 | $36,246,807 |
Eihab Human Services New Jersey Inc Springfield Gardens, NY | $6,084,233 | $34,447,037 |
West Side Federation For Senior Housing Inc New York, NY | $138,485,239 | $41,412,403 |
East Harlem Pilot Block Housing Development Fund Co Inc New York, NY | $76,192,730 | $32,420,395 |
Orange Affordable Housing Inc New York, NY | $0 | $0 |
Housing Visions Unlimited Inc Syracuse, NY | $54,882,329 | $24,284,268 |
Phipps Houses New York, NY | $754,776,508 | $88,001,578 |
C-Hp Cove Inc New York, NY | $8,025,727 | $5,367,385 |
Diego Beekman Mutual Housing Assoc Housing Developmnt Fund Corp Bronx, NY | $60,873,005 | $24,267,142 |
Champlain Housing Tr Burlington, VT | $156,492,954 | $31,041,858 |