Alliance Asset Management Inc
- Assets
- $246.8k
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 30
- Location
- Concord, NH
- Founding
- 06/2014
- Data as of
- 03/2023
- EIN
- 46-2767095
Organization Overview
Alliance Asset Management Inc is located in Concord, NH. The organization was established in 2014. 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. As of 03/2023, Alliance Asset Management Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alliance Asset Management 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 03/2023, Alliance Asset Management Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $1.6m during the year ending 03/2023. While expenses have increased by 4.1% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO ESTABLISH AND MAINTAIN AFFORDABLE HOUSING FOR LOWER AND MODERATE INCOME INDIVIDUALS AND FAMILIES BY MANAGING REAL ESTATE HOLDINGS FOR A RELATED TAX-EXEMPT ENTITY AS WELL AS OTHER NONPROFIT, TAX-EXEMPT OR CHARITABLE ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SUPPORTS AFFORDABLE HOUSING PROJECTS FOR LOWER AND MODERATE INCOME INDIVIDUALS AND FAMILIES IN NEW HAMPSHIRE. IT PROVIDES REAL ESTATE MANAGEMENT SERVICES TO VARIOUS TAX-EXEMPT ENTITIES, PRIMARILY FOR CONCORD AREA TRUST FOR COMMUNITY HOUSING, A RELATED ORGANIZATION THAT IS A SUPPORTED ENTITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James M Gallagher III Chair | Trustee | 1 | $0 |
Oresta Mosca Treasurer | Trustee | 1 | $0 |
Byron Champlin Secretary | Trustee | 1 | $0 |
Scoop Welch Director | Trustee | 1 | $0 |
Donna Bailey Director | Trustee | 1 | $0 |
Safiya Wazir 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,644,393 |
| Investment income | $0 |
| 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 | $1,644,393 |
| 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 | $1,232,002 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $103,953 |
| Payroll taxes | $90,078 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,092 |
| Fees for services: Accounting | $16,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,340 |
| Office expenses | $0 |
| Information technology | $15,688 |
| Royalties | $0 |
| Occupancy | $69,946 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,010 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,355 |
| Insurance | $31,540 |
| All other expenses | $0 |
| Total functional expenses | $1,610,302 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,307 |
| 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 | $36,686 |
| Net Land, buildings, and equipment | $513 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $112,326 |
| Total assets | $246,832 |
| Accounts payable and accrued expenses | $45,390 |
| 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 | $149,937 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $330,068 |
| Total liabilities | $525,395 |
| Net assets without donor restrictions | -$278,563 |
| 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 | $246,832 |