Civic Intelligence

Homeowners Options for Massachusetts Elders Inc

990 • Fiscal year 2019 • EIN 04-2931627

Jul 01, 2018 to Jun 30, 2019 • Filed on Oct 26, 2021

Organization ProfileWWW.ELDERHOMEOWNERS.COM
87 Hale Street 2nd FloorLowell, MA 01851

(978) 970-0012

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

93rd percentile

0.82x

Higher debt load relative to assets than 93% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

90th percentile

0.29x

Higher debt load relative to revenue than 90% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

84th percentile

31%

Higher net margin than 84% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

96th percentile

$73,859

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 16.4% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

66th percentile

14%

Faster asset growth than 66% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

78th percentile

29%

Faster revenue growth than 78% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$161,188

Up $19,867 (+14%) from 2018

Net Assets

Up

$29,500

Up $127,518 (+130%) from 2018

Liabilities

Down

$131,688

Down $107,651 (-45%) from 2018

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin84th percentile

Revenue

Up

$449,943

Up $101,673 (+29%) from 2018

Expenses

Down

$312,027

Down $11,062 (-3.4%) from 2018

Net Income

Up

$137,916

Up $112,735 (+448%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0-$100K-$200KAssets 2010: $61,060Liabilities 2010: $166,424Net Assets 2010: -$105,3642010Assets 2011: $51,622Liabilities 2011: $177,510Net Assets 2011: -$125,8882011Assets 2012: $72,837Liabilities 2012: $179,048Net Assets 2012: -$106,2112012Assets 2013: $119,663Liabilities 2013: $164,045Net Assets 2013: -$44,3822013Assets 2014: $97,620Liabilities 2014: $189,848Net Assets 2014: -$92,2282014Assets 2015: $74,712Liabilities 2015: $186,054Net Assets 2015: -$111,3422015Assets 2016: $141,342Liabilities 2016: $202,317Net Assets 2016: -$60,9752016Assets 2017: $108,563Liabilities 2017: $231,761Net Assets 2017: -$123,1982017Assets 2018: $141,321Liabilities 2018: $239,339Net Assets 2018: -$98,0182018Assets 2019: $161,188Liabilities 2019: $131,688Net Assets 2019: $29,5002019Assets 2020: $157,041Liabilities 2020: $114,436Net Assets 2020: $42,6052020Assets 2021: $174,067Liabilities 2021: $85,795Net Assets 2021: $88,2722021Assets 2022: $9,088Liabilities 2022: $0Net Assets 2022: $9,0882022Assets 2023: $3,197Liabilities 2023: $0Net Assets 2023: $3,1972023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2019

Assets$161,188
Liabilities$131,688
Net Assets$29,500
Open 2019 Filing

Operations Trend

Revenue Growth78th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KExpenses 2010: $498,8112010Expenses 2011: $401,5522011Expenses 2012: $342,1812012Revenue 2013: $474,687Expenses 2013: $412,858Net Income 2013: $61,8292013Revenue 2014: $462,979Expenses 2014: $510,825Net Income 2014: -$47,8462014Revenue 2015: $330,458Expenses 2015: $349,572Net Income 2015: -$19,1142015Revenue 2016: $355,514Expenses 2016: $274,387Net Income 2016: $81,1272016Revenue 2017: $285,273Expenses 2017: $347,496Net Income 2017: -$62,2232017Revenue 2018: $348,270Expenses 2018: $323,089Net Income 2018: $25,1812018Revenue 2019: $449,943Expenses 2019: $312,027Net Income 2019: $137,9162019Revenue 2020: $299,430Expenses 2020: $286,325Net Income 2020: $13,1052020Revenue 2021: $262,174Expenses 2021: $216,507Net Income 2021: $45,6672021Revenue 2022: $67,357Expenses 2022: $146,541Net Income 2022: -$79,1842022Revenue 2023: $2Expenses 2023: $5,893Net Income 2023: -$5,8912023Revenue 2024: $1Expenses 2024: $3,198Net Income 2024: -$3,1972024

Highlighted filing

2019

Revenue$449,943
Expenses$312,027
Net Income$137,916
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Oct 26, 2021
Return Version
2018v3.2
Gross Receipts
$456,525
Mission and Program Overview

Mission

Providing counceling on financial, housing, and resource options to needy elders in massachusetts who wish to protect the equity in their homes.

Providing counciling on financial, housing, and resource options to needy elders in massachusetts who with to protect the equity in their homes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$69,370$90,468▲ $21,098
Accounts Receivable$59,600$31,384▼ $28,216
Pledges and Grants Receivable-$28,000-
Land, Buildings, and Equipment, Net-$9,571-
Prepaid Expenses and Deferred Charges$1,251$1,765▲ $514
Total Assets$130,221$161,188▲ $30,967
Liabilities
Mortgage Notes Payable Secured by Investment Property$144,937$113,279▼ $31,658
Deferred Revenue$56,960--
Other Liabilities-$9,773-
Accounts Payable and Accrued Expenses$37,990$8,636▼ $29,354
Total Liabilities$239,887$131,688▼ $108,199
Net Assets / Fund Balance
Unrestricted Net Assets$-109,666$29,500▲ $139,166
Total Net Assets Fund Balance$-109,666$29,500▲ $139,166
Total Liabilities and Net Assets / Fund Balance$130,221$161,188▲ $30,967

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,571$10,736-
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Leonard F RaymondExecutive DiFT$60,000$13,859$73,859

Board Members and Trustees

NameTitle
Jon AugerPresident
Andrew CalamareTrustee
Carolyn HardyTrustee
James SullivanTrustee
Marianne SullivanTrustee
Don FrostClerk
Carl Allen JrTreasurer
David AndersonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$421,662
Program Service Revenue
$19,752
Investment Income
$0
Other Revenue
$8,529
All Other Contributions
$273,117
Change in Net Assets
$137,916

Audited Revenue Reconciliation

Revenue per Audited Statements
$449,943
Total Revenue per Audited Statements
$449,943
Total Revenue per Form 990
$449,943
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$223,459
Other Expenses$88,568
Total Fundraising Expense$22,399
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$89,472$26,842$11,504$127,818
Current Officers, Directors, Trustees, and Key Employees$42,000$12,600$5,400$60,000
Payroll Taxes$13,847$4,154$1,780$19,781
Other Employee Benefits$14,393$1,027$440$15,860
Insurance$6,863$2,059$882$9,804
Interest-$5,305-$5,305
Other Expenses$3,549$1,065$456$5,070
Office Expenses$3,357$1,008$431$4,796
Occupancy$1,023$2,107$903$4,033
Travel$1,899$252$108$2,259
All Other Expenses$1,436$430$184$2,050
Fees for Services Other$1,243$474$203$1,920
Depreciation Depletion$838$252$108$1,198
Total Functional Expenses$232,053$57,575$22,399$312,027

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$312,027
Total Expenses per Audited Statements$312,027
Total Expenses per Form 990$312,027
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$6,582
Fundraising Gross Income$111
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$30,985$111$6,471$-6,360
Total Events$30,985$111$6,582$-6,471
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease$9,773
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
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, Page 6, Part VI, Line 8B

“No committes have authority to act on behalf of the organization”

Form 990, Page 6, Part VI, Line 11B

“A draft is provided to the organization and reviewed by the executive director and made availaable to the board of directors prior to filing”

Form 990, Page 6, Part VI, Line 19

“Audited financial statements and copy of form 990 are available on the commonwealth of massachusetts attorney general's charitable filings website. Governing documents, policies and financial statements are also available upon request.”

Filing and Contact Details

Filer

Filer Name
Homeowner Options for Massachusetts
EIN
04-2931627
Phone
9789700012
Address
87 HALE STREET 2ND FLOOR, LOWELL, MA 01851

Signing Officer

Name
Leonard F Raymond
Title
Executive Director
Phone
9789700012
Signed
2021-10-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leonard F Raymond
Formed
1986
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
8
Employees
6

Preparer

Firm
Anstiss & Co Pc
Address
1115 WESTFORD STREET 3RD FLOOR, LOWELL, MA 01851-2701
Preparer
Richard B Dionne
Phone
9784522500
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Asc 740-10, "income taxes" requires the organization to evaluate and disclose tax positon that could have an effect on organization's financial statement. The organization reports its activities to the internal revenue service and to the commonwealth of massachusetts on an annual basis. These informational returns are generally subject to audit and review by the governmental agencies for a period of three years after filing. Substanitally all of the organization's income, expenditures and activities relate to its exempt purpose, therefore, management has determined that the organization is not subject to unrelated business income taxes and will continue to qualify as a tax-exempt not-for-profit entity.”

Raw XML AppendixShowing 400 of 441 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt019752
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0421662
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0104550
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0171363
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01009200
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt019863
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0183108
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0763175
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt09571
IRS990ScheduleD/EquipmentGrp/DepreciationAmt010736
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt020307
IRS990ScheduleD/ExpensesSubtotalAmt0312027
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt09773
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CAPITAL LEASE
IRS990ScheduleD/RevenueSubtotalAmt0449943
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ASC 740-10, "INCOME TAXES" REQUIRES THE ORGANIZATION TO EVALUATE AND DISCLOSE TAX POSITON THAT COULD HAVE AN EFFECT ON ORGANIZATION'S FINANCIAL STATEMENT. THE ORGANIZATION REPORTS ITS ACTIVITIES TO THE INTERNAL REVENUE SERVICE AND TO THE COMMONWEALTH OF MASSACHUSETTS ON AN ANNUAL BASIS. THESE INFORMATIONAL RETURNS ARE GENERALLY SUBJECT TO AUDIT AND REVIEW BY THE GOVERNMENTAL AGENCIES FOR A PERIOD OF THREE YEARS AFTER FILING. SUBSTANITALLY ALL OF THE ORGANIZATION'S INCOME, EXPENDITURES AND ACTIVITIES RELATE TO ITS EXEMPT PURPOSE, THEREFORE, MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAXES AND WILL CONTINUE TO QUALIFY AS A TAX-EXEMPT NOT-FOR-PROFIT ENTITY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalLiabilityAmt09773
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF TOURNAMENT
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt0111
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt0111
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt030985
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IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-6471
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IRS990/ScheduleJRequiredInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO COMMITTES HAVE AUTHORITY TO ACT ON BEHALF OF THE ORGANIZATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT IS PROVIDED TO THE ORGANIZATION AND REVIEWED BY THE EXECUTIVE DIRECTOR AND MADE AVAILAABLE TO THE BOARD OF DIRECTORS PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AUDITED FINANCIAL STATEMENTS AND COPY OF FORM 990 ARE AVAILABLE ON THE COMMONWEALTH OF MASSACHUSETTS ATTORNEY GENERAL'S CHARITABLE FILINGS WEBSITE. GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0161188
IRS990/TotalAssetsGrp/BOYAmt0130221
IRS990/TotalAssetsGrp/EOYAmt0161188
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0421662
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt022399
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt057575
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0232053
IRS990/TotalFunctionalExpensesGrp/TotalAmt0312027
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0239887
IRS990/TotalLiabilitiesEOYAmt0131688
IRS990/TotalLiabilitiesGrp/BOYAmt0239887
IRS990/TotalLiabilitiesGrp/EOYAmt0131688
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-109666
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IRS990/TotalOtherCompensationAmt013859
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt019752
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0161188
IRS990/TravelGrp/FundraisingAmt0108
IRS990/TravelGrp/ManagementAndGeneralAmt0252
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IRS990/TravelGrp/TotalAmt02259
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$161,188
Liabilities
$131,688
Net assets
$29,500
Revenue
$449,943
Expenses
$312,027
Net income
$137,916
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.03$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.00$0.06$0.06
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.09$0.00$0.09$0.67$1.47$0.79
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.74$0.86$0.88$2.62$2.17$0.46
2020Detailed filing. Detailed filing data is available for this year.$1.57$1.14$0.43$2.99$2.86$0.13
2019Detailed filing. Detailed filing data is available for this year.$1.61$1.32$0.30$4.50$3.12$1.38
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.41$2.39$0.98$3.48$3.23$0.25
2017Summary only. Only limited summary data is available for this year.$1.09$2.32$1.23$2.85$3.47$0.62
2016Detailed filing. Detailed filing data is available for this year.$1.41$2.02$0.61$3.56$2.74$0.81
2015Detailed filing. Detailed filing data is available for this year.$0.75$1.86$1.11$3.30$3.50$0.19
2014Detailed filing. Detailed filing data is available for this year.$0.98$1.90$0.92$4.63$5.11$0.48
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.20$1.64$0.44$4.75$4.13$0.62
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$1.79$1.06$3.42
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$1.78$1.26$4.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.61$1.66$1.05$4.99
Peer Organizations

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