Civic Intelligence

Southeastern Massachusetts Affordab

EIN 04-3322638 • 501(c)3 • Brockton, MA

Profile

Provide housing for low to moderate income people as defined by the department of housing and urban development.

45 Goddard RoadBrockton, MA 02301

n/A

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.37x

Higher debt load relative to assets than 73% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

92nd percentile

2.46x

Higher debt load relative to revenue than 92% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

76th percentile

24%

Higher net margin than 76% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

46th percentile

2.9%

Faster asset growth than 46% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

44th percentile

4.2%

Faster revenue growth than 44% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$6,284,033

Up $174,440 (+2.9%) from 2023

Liabilities

Down

$2,335,458

Down $50,898 (-2.1%) from 2023

Net Assets

Up

$3,948,575

Up $225,338 (+6.1%) from 2023

Operations
Liabilities / Revenue92nd percentileNet Margin76th percentile

Revenue

Up

$948,931

Up $38,553 (+4.2%) from 2023

Expenses

Up

$723,593

Up $61,370 (+9.3%) from 2023

Net Income

Down

$225,338

Down $22,817 (-9.2%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth46th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $4,587,958Liabilities 2010: $2,968,319Net Assets 2010: $1,619,6392010Assets 2011: $5,133,891Liabilities 2011: $3,068,526Net Assets 2011: $2,065,3652011Assets 2012: $5,776,485Liabilities 2012: $3,180,802Net Assets 2012: $2,595,6832012Assets 2013: $6,367,344Liabilities 2013: $3,125,248Net Assets 2013: $3,242,0962013Assets 2014: $6,183,639Liabilities 2014: $3,005,923Net Assets 2014: $3,177,7162014Assets 2015: $5,996,900Liabilities 2015: $2,836,008Net Assets 2015: $3,160,8922015Assets 2016: $6,233,653Liabilities 2016: $3,111,930Net Assets 2016: $3,121,7232016Assets 2017: $6,048,977Liabilities 2017: $2,944,467Net Assets 2017: $3,104,5102017Assets 2018: $6,246,160Liabilities 2018: $3,083,891Net Assets 2018: $3,162,2692018Assets 2019: $6,109,387Liabilities 2019: $2,740,443Net Assets 2019: $3,368,9442019Assets 2020: $6,130,674Liabilities 2020: $2,632,991Net Assets 2020: $3,497,6832020Assets 2021: $6,074,909Liabilities 2021: $2,592,478Net Assets 2021: $3,482,4312021Assets 2022: $5,957,717Liabilities 2022: $2,482,635Net Assets 2022: $3,475,0822022Assets 2023: $6,109,593Liabilities 2023: $2,386,356Net Assets 2023: $3,723,2372023Assets 2024: $6,284,033Liabilities 2024: $2,335,458Net Assets 2024: $3,948,5752024

Highlighted filing

2024

Assets$6,284,033
Liabilities$2,335,458
Net Assets$3,948,575
Open 2024 Filing

Operations Trend

Revenue Growth44th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $217,9362010Expenses 2011: $316,5512011Expenses 2012: $442,0822012Revenue 2013: $1,142,350Expenses 2013: $495,937Net Income 2013: $646,4132013Revenue 2014: $1,096,265Expenses 2014: $1,060,643Net Income 2014: $35,6222014Revenue 2015: $622,260Expenses 2015: $639,084Net Income 2015: -$16,8242015Revenue 2016: $602,008Expenses 2016: $641,177Net Income 2016: -$39,1692016Revenue 2017: $585,524Expenses 2017: $602,737Net Income 2017: -$17,2132017Revenue 2018: $645,718Expenses 2018: $587,960Net Income 2018: $57,7582018Revenue 2019: $883,355Expenses 2019: $676,680Net Income 2019: $206,6752019Revenue 2020: $771,791Expenses 2020: $643,052Net Income 2020: $128,7392020Revenue 2021: $566,801Expenses 2021: $582,053Net Income 2021: -$15,2522021Revenue 2022: $694,826Expenses 2022: $702,175Net Income 2022: -$7,3492022Revenue 2023: $910,378Expenses 2023: $662,223Net Income 2023: $248,1552023Revenue 2024: $948,931Expenses 2024: $723,593Net Income 2024: $225,3382024

Highlighted filing

2024

Revenue$948,931
Expenses$723,593
Net Income$225,338
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$6,284,033
Liabilities
$2,335,458
Net assets
$3,948,575
Revenue
$948,931
Expenses
$723,593
Net income
$225,338
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.28$2.34$3.95$0.95$0.72$0.23
2023Detailed filing. Detailed filing data is available for this year.$6.11$2.39$3.72$0.91$0.66$0.25
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.96$2.48$3.48$0.69$0.70$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.07$2.59$3.48$0.57$0.58$0.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.13$2.63$3.50$0.77$0.64$0.13
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.11$2.74$3.37$0.88$0.68$0.21
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.25$3.08$3.16$0.65$0.59$0.06
2017Detailed filing. Detailed filing data is available for this year.$6.05$2.94$3.10$0.59$0.60$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.23$3.11$3.12$0.60$0.64$0.04
2015Detailed filing. Detailed filing data is available for this year.$6.00$2.84$3.16$0.62$0.64$0.02
2014Detailed filing. Detailed filing data is available for this year.$6.18$3.01$3.18$1.10$1.06$0.04
2013Detailed filing. Detailed filing data is available for this year.$6.37$3.13$3.24$1.14$0.50$0.65
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.78$3.18$2.60$0.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.13$3.07$2.07$0.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.59$2.97$1.62$0.22
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 11, 2025
Return Version
2024v5.0
Gross Receipts
$948,931
Mission and Program Overview

Mission

Provide housing for low to moderate income people as defined by the department of housing and urban development.

Provide housing for low to moderate income people as defined by the department of housing and urban development

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,781,958$4,624,760▼ $157,198
Rtn Earn Endowment Incm Other Fnds$3,723,237$3,948,575▲ $225,338
Cash and Non-Interest-Bearing Accounts$1,125,283$1,545,503▲ $420,220
Accounts Receivable$165,409$73,408▼ $92,001
Prepaid Expenses and Deferred Charges$36,943$40,362▲ $3,419
Total Assets$6,109,593$6,284,033▲ $174,440
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,360,067$2,262,927▼ $97,140
Accounts Payable and Accrued Expenses$26,227$72,296▲ $46,069
Deferred Revenue$62$235▲ $173
Total Liabilities$2,386,356$2,335,458▼ $50,898
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,723,237$3,948,575▲ $225,338
Total Liabilities and Net Assets / Fund Balance$6,109,593$6,284,033▲ $174,440

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,420,543$2,385,082$5,805,625
Land$1,204,217-$1,204,217
Other Land Buildings-$29,347$29,347
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Richard OlsonPresident
Allyne PecevichDirector
Carol RobertsDirector
Gerard NadeauDirector
Jeanette CayerDirector
Kimberly LundinDirector
LINDA O'MALLEYDirector
Linda Kenney LoganDirector
Susan HasomerisDirector
Timothy SullivanDirector
John McgarryClerk
Thomas ThibeaultExecutive Di
David TeixeiraTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$885,031
Investment Income
$63,900
Other Revenue
$0
Change in Net Assets
$225,338

Audited Revenue Reconciliation

Revenue per Audited Statements
$948,931
Total Revenue per Audited Statements
$948,931
Total Revenue per Form 990
$948,931
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$723,593
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
Occupancy$231,140--$231,140
Depreciation Depletion$191,401--$191,401
Fees for Services Management-$104,978-$104,978
Insurance$70,212--$70,212
Interest$66,256--$66,256
Fees for Services Accounting-$21,000-$21,000
Office Expenses-$9,832-$9,832
Fees for Services Legal-$2,914-$2,914
Travel-$724-$724
Other Expenses$111--$111
Total Functional Expenses$584,145$139,448$0$723,593

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$723,593
Total Expenses per Audited Statements$723,593
Total Expenses per Form 990$723,593
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization entered into a management agreement with the brockton housing authorituy (bha) under which bha will provide both ongoing operating management services and construction management services to the organization. Under the terms of the agreement, the organization will pay a management fee equal to 11% of gross revenue with the rest of dwelling units. A portion of the fee, 4%. Is guaranteed; 2% is only payable out of the net cash flow as defined. The remaining 5%, the incentive fee, is also payable out of net cash flow. However, if there is insufficient net cash flow for the year to pay the incentive fee, such fee will not accumulate or be considered due and owing.”

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

“A committee of the board of directors reviews form 990. The financial data on form 990 is reconciled to the financial information on the audited financial statements. The non-financial information, such as questions concerning governance, policies, and tax compliance are reviewed to ensure that they are accurate. Consideration is given as to the completeness of unrelated business income if any.”

Form 990, Page 6, Part VI, Line 12C

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of the committee with governing board delegated powers considering the proposed transaction or arrangement”

Form 990, Page 6, Part VI, Line 19

“All governing documents are available for inspection by the public at the organizations offices during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Southeastern Massachusetts Affordab
EIN
04-3322638
Phone
5085886880
Address
45 GODDARD ROAD, BROCKTON, MA 02301

Signing Officer

Name
Thomas Thibeault
Title
Executive Director
Phone
5085886880
Signed
2025-09-11

Organization Details

Principal Officer
Thomas Thibeault
Formed
1996
Legal Domicile
Ma
Voting Board Members
11
Independent Board Members
10
Employees
0

Preparer

Firm
Rector Reeder & Lofton Pc
Address
623 TOM BREWER ROAD, LOGANVILLE, GA 30052-4042
Preparer
Michael K Ozment CPA
Phone
7708798411
Raw XML Appendix384 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/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3CLERK
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IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
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IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherExpensesGrp/Desc0BAD DEBTS
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/InvestmentIncomeCYPct00.05000
IRS990ScheduleA/InvestmentIncomePYPct00.01000
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IRS990ScheduleA/PublicSupportCY509Pct00.95490
IRS990ScheduleA/PublicSupportPY509Pct00.99150
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0565632
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt02385082
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05805625
IRS990ScheduleD/ExpensesSubtotalAmt0723593
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ENTERED INTO A MANAGEMENT AGREEMENT WITH THE BROCKTON HOUSING AUTHORITUY (BHA) UNDER WHICH BHA WILL PROVIDE BOTH ONGOING OPERATING MANAGEMENT SERVICES AND CONSTRUCTION MANAGEMENT SERVICES TO THE ORGANIZATION. UNDER THE TERMS OF THE AGREEMENT, THE ORGANIZATION WILL PAY A MANAGEMENT FEE EQUAL TO 11% OF GROSS REVENUE WITH THE REST OF DWELLING UNITS. A PORTION OF THE FEE, 4%. IS GUARANTEED; 2% IS ONLY PAYABLE OUT OF THE NET CASH FLOW AS DEFINED. THE REMAINING 5%, THE INCENTIVE FEE, IS ALSO PAYABLE OUT OF NET CASH FLOW. HOWEVER, IF THERE IS INSUFFICIENT NET CASH FLOW FOR THE YEAR TO PAY THE INCENTIVE FEE, SUCH FEE WILL NOT ACCUMULATE OR BE CONSIDERED DUE AND OWING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS FORM 990. THE FINANCIAL DATA ON FORM 990 IS RECONCILED TO THE FINANCIAL INFORMATION ON THE AUDITED FINANCIAL STATEMENTS. THE NON-FINANCIAL INFORMATION, SUCH AS QUESTIONS CONCERNING GOVERNANCE, POLICIES, AND TAX COMPLIANCE ARE REVIEWED TO ENSURE THAT THEY ARE ACCURATE. CONSIDERATION IS GIVEN AS TO THE COMPLETENESS OF UNRELATED BUSINESS INCOME IF ANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF THE COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL GOVERNING DOCUMENTS ARE AVAILABLE FOR INSPECTION BY THE PUBLIC AT THE ORGANIZATIONS OFFICES DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalGrossUBIAmt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06284033
IRS990/TravelGrp/ManagementAndGeneralAmt0724
IRS990/TravelGrp/TotalAmt0724
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0THOMAS THIBEAULT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05085886880
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-09-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTHEASTERN MASSACHUSETTS AFFORDAB
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0043322638
ReturnHeader/Filer/PhoneNum05085886880
ReturnHeader/Filer/USAddress/AddressLine1Txt045 GODDARD ROAD
ReturnHeader/Filer/USAddress/CityNm0BROCKTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002301
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0263670494
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RECTOR REEDER & LOFTON PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0623 TOM BREWER ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOGANVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0300524042
ReturnHeader/PreparerPersonGrp/PhoneNum07708798411
ReturnHeader/PreparerPersonGrp/PreparationDt02025-09-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL K OZMENT CPA
ReturnHeader/ReturnTs02025-09-18T13:47:23-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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