Furnishing Hope Of Massachusetts Inc is located in Cambridge, MA. The organization was established in 2012. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Furnishing Hope Of Massachusetts 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 12/2022, Furnishing Hope Of Massachusetts Inc generated $161.7k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $203.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by 0.0% per year over the past 4 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
COLLECTING AND WAREHOUSING HOUSEHOLD GOODS FOR DISTRIBUTION AND DELIVERY TO POOR, NEEDY OR DISTRESSED INDIVIDUALS AND FAMILIES IN NEED OF FINANCIAL ASSISTANCE, IN COOPERATION WITH AND/OR UPON REFERRAL BY CHARITABLE AND OTHER ORGANIZATIONS THAT SERVE SUCH DISADVANTAGED INDIVIDUALS OR GROUPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FURNISHING HOPE OF MASSACHUSETTS WAS FOUNDED IN 2012. IT OPERATES ON FORMAL WRITTEN AGREEMENTS WITH OTHER ORGANIZATIONS TO PROVIDE BASIC FURNITURE AND HOUSEHOLD GOODS TO CLIENTS. ALL CLIENTS RECEIVING FURNITURE ARE IDENTIFIED, QUALIFIED AND FURTHER SUPPORTED BY THE REFERRING AGENCY. IN 2022,RECOVERY FROM THE PANDEMIC CONTINUED TO BRING CHALLENGES, BUT THE ORGANIZATION'S ACTIVITIES CONTINUE TO THRIVE, COLLECTING FURNITURE DONATIONS AND SIGNIFICANTLY REDUCING OUR WAREHOUSE STORAGE COSTS THROUGH A COLLABORATION WITH HOUSEHOLD GOODS OF ACTON, MA [NON-PROFIT]. THE ORGANIZATION MAINTAINED ITS ARRANGEMENTS WITH 24 OF THE REFERRAL AGENCIES, 18 AGENCIES REFERRED CLIENTS TO THE ORGANIZATION IN 2022. IN CONNECTION WITH THESE REFERRALS, THE ORGANIZATION DISTRIBUTED INVENTORY HAVING A VALUE OF $59,401.71, OBTAINED THROUGH IN-KIND DONATIONS, TO 81 FAMILIES [152 CHILDREN/93 ADULTS]. THE ORGANIZATION PURCHASED AND DISTRIBUTED ADDITIONAL INVENTORY VALUED AT $2,103.50.PROGRAM EXPENSES OF $33,800.00 REPRESENT MOVING EXPENSES FOR PICK-UP AND DELIVERY OF INVENTORY TO THE ORGANIZATION'S CLIENTS.INVENTORY VALUES ARE BASED ON THE PURCHASE PRICE OF NEW ITEMS AND VALUATION GUIDELINES, BASED ON THRIFT STORE VALUES, PUBLISHED BY SIMILAR ORGANIZATIONS FOR USED ITEMS.
HAVING INVENTORY OF $61,505.21 TO DISTRIBUTE, THESE IN-INKIND DONATIONS INCURRED PROGRAM EXPENSES OF $19,483.33 TO COVER STORAGE EXPENSES AND $33,800.00 TO COVER DELIVERY AND PICK UP EXPENSES. THE ORGANIZATION RECEIVED IN-KIND DONATIONS FROM 160 INDIVIDUALS SOME DIRECTLY AND SOME INDIVIDUALS WHO MADE DONATIONS INDIRECTLY THROUGH FOR-PROFIT ORGANIZATIONS WITH WHICH THE ORGANIZATION HAS AGREEMENTS IN PLACE.
IN FURTHERANCE OF ITS MISSION TO PROVIDE FAMILIES WITH THE GOODS NECESSARY TO FULLY FURNISH THEIR HOME, INCLUDING COMMON HOUSEHOLD GOODS, THE ORGANIZATION PURCHASED $2,103.50 OF NEW HOUSEHOLD ITEMS. THE ORGANIZATION COMBINED THE PURCHASED ITEMS WITH DONATED INVENTORY VALUED AT $13,705.75 THUS CREATING THE "STARTER SETS" WITH A COMBINED VALUE OF $15,809.25 DISTRIBUTED TO FAMILIES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Suzanne L Palitz President, Treasurer, Dire | OfficerTrustee | 30 | $0 |
Marcie Behman Director | Trustee | 0.1 | $0 |
Marcia Head Director | Trustee | 0.1 | $0 |
Gail Roberts Director | Trustee | 0.1 | $0 |
Elizabeth Vernon Director | Trustee | 0.1 | $0 |
Ed Feijo Director | Trustee | 0.1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $61 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $161,616 |
Noncash contributions included in lines 1a–1f | $51,113 |
Total Revenue from Contributions, Gifts, Grants & Similar | $161,677 |
Total Program Service Revenue | $0 |
Investment income | $6 |
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 | $161,683 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $61,505 |
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 | $54,521 |
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 | $5,268 |
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 | $929 |
Information technology | $1,972 |
Royalties | $0 |
Occupancy | $20,461 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $68 |
Insurance | $3,029 |
All other expenses | $952 |
Total functional expenses | $203,730 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $16,797 |
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 | $10,030 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $99 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $26,926 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $0 |
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 | $26,926 |
Total liabilities and net assets/fund balances | $26,926 |