Civic Intelligence

Nelson Memorial Apartmentsfirst

EIN 04-2631775 • 501(c)3 • Waltham, MA

Profile

To provide low and moderate income housing for the elderly and other deserving persons of low and moderate income.

6 Eddy StreetWaltham, MA 02453-7753

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

82nd percentile

0.48x

Higher debt load relative to assets than 82% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

5.08x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

75th percentile

22%

Higher net margin than 75% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

43rd percentile

1.2%

Faster asset growth than 43% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

57th percentile

11%

Faster revenue growth than 57% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,562,450

Up $17,814 (+1.2%) from 2023

Liabilities

Down

$755,433

Down $14,799 (-1.9%) from 2023

Net Assets

Up

$807,017

Up $32,613 (+4.2%) from 2023

Revenue

Up

$148,784

Up $15,081 (+11%) from 2023

Expenses

Up

$116,171

Up $17,607 (+18%) from 2023

Net Income

Down

$32,613

Down $2,526 (-7.2%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2020: $625,254Liabilities 2020: $0Net Assets 2020: $625,2542020Assets 2021: $1,617,530Liabilities 2021: $916,699Net Assets 2021: $700,8312021Assets 2022: $1,525,954Liabilities 2022: $786,689Net Assets 2022: $739,2652022Assets 2023: $1,544,636Liabilities 2023: $770,232Net Assets 2023: $774,4042023Assets 2024: $1,562,450Liabilities 2024: $755,433Net Assets 2024: $807,0172024

Highlighted filing

2024

Assets$1,562,450
Liabilities$755,433
Net Assets$807,017

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150K$100K$50K$0Revenue 2020: $61,898Expenses 2020: $38,802Net Income 2020: $23,0962020Revenue 2021: $132,693Expenses 2021: $57,116Net Income 2021: $75,5772021Revenue 2022: $132,657Expenses 2022: $94,223Net Income 2022: $38,4342022Revenue 2023: $133,703Expenses 2023: $98,564Net Income 2023: $35,1392023Revenue 2024: $148,784Expenses 2024: $116,171Net Income 2024: $32,6132024

Highlighted filing

2024

Revenue$148,784
Expenses$116,171
Net Income$32,613

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 23, 2025
Return Version
2024v5.1
Gross Receipts
$148,784
Mission and Program Overview

Mission

To provide low and moderate income housing for the elderly and other deserving persons of low and moderate income.

Low income housing for the elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,338,529$1,331,076▼ $7,453
Pd in Cap Srpls Land Bldg Eqp Fund$1,338,529$1,331,076▼ $7,453
Investments Other Securities$116,599$110,995▼ $5,604
Savings and Temporary Cash Investments$71,096$104,133▲ $33,037
Cash and Non-Interest-Bearing Accounts$18,412$16,246▼ $2,166
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$-564,125$-524,059▲ $40,066
Total Assets$1,544,636$1,562,450▲ $17,814
Liabilities
Mortgage Notes Payable Secured by Investment Property$770,232$753,233▼ $16,999
Other Liabilities$0$2,200▲ $2,200
Total Liabilities$770,232$755,433▼ $14,799
Net Assets / Fund Balance
Total Net Assets Fund Balance$774,404$807,017▲ $32,613
Total Liabilities and Net Assets / Fund Balance$1,544,636$1,562,450▲ $17,814

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$892,596$208,955$1,101,551
Land$438,480-$438,480
Other Securities$83,287--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Catherine SukowCo-President
Steve MischkeCo-President
Dianne PoulosDirector
Geri NederhoffDirector
Larry YarbroughDirector
Steve HoffDirector
Thomas NealDirector
Paul WeedenSecretary
Janice OstranderTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$135,937
Investment Income
$12,847
Other Revenue
$0
Change in Net Assets
$32,613
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$116,171
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$27,325--$27,325
Interest$24,781--$24,781
Insurance$8,910--$8,910
Other Expenses$7,231--$7,231
All Other Expenses$2,464--$2,464
Fees for Services Accounting$1,700--$1,700
Office Expenses$198--$198
Total Functional Expenses$116,171$0$0$116,171
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposit$2,200
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

The Board of Directors will review in detail the Form 990 before filing same.

Form 990, Part VI, Section C, line 19

Upon Request.

Filing and Contact Details

Filer

Filer Name
Nelson Memorial ApartmentsFirst
EIN
04-2631775
Phone
7818936563
Address
6 Eddy Street, Waltham, MA 02453-7753

Signing Officer

Name
Janice Ostrander
Title
Treasurer
Phone
7818936563
Signed
2025-04-23

Organization Details

Principal Officer
Janice Ostrander
Formed
1977
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Ernest M Smith Jr CPA
Address
45 FRANKLIN STREET, LYNN, MA 01902
Preparer
Ernest M Smith Jr CPA
Phone
7815811724
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 24E

Water & Sewer: Program service expenses 2,378. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,378. Mass Filing Fees: Program service expenses 85. Management and general expenses 0. Fundraising expenses 0. Total expenses 85. Rent: Program service expenses 1. Management and general expenses 0. Fundraising expenses 0. Total expenses 1.

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IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Janice Ostrander
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum07818936563
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Nelson Memorial ApartmentsFirst
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Lutheran Church
ReturnHeader/Filer/BusinessNameControlTxt0NELS
ReturnHeader/Filer/EIN0042631775
ReturnHeader/Filer/PhoneNum07818936563
ReturnHeader/Filer/USAddress/AddressLine1Txt06 Eddy Street
ReturnHeader/Filer/USAddress/CityNm0Waltham
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd0024537753
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042661804
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERNEST M SMITH JR CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt045 FRANKLIN STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LYNN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001902
ReturnHeader/PreparerPersonGrp/PhoneNum07815811724
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ERNEST M SMITH JR CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-05-02T08:58:59-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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