Civic Intelligence

Walnut Hill Properties Corp

EIN 04-3419100 • 501(c)3 • Medford, MA

Profile

To acquire and manage rental property

14 Capen StreetMedford, MA 02155

n/A

Siviq Scores

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

Liabilities / Assets

80th percentile

0.58x

Higher debt load relative to assets than 80% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

93rd percentile

3.69x

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

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

55th percentile

6.5%

Higher net margin than 55% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

92nd percentile

$549,949

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 14.6% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

57th percentile

6.6%

Faster asset growth than 57% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

28th percentile

-2.7%

Faster revenue growth than 28% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$23,892,362

Up $1,479,350 (+6.6%) from 2023

Liabilities

Down

$13,893,504

Down $649,878 (-4.5%) from 2023

Net Assets

Up

$9,998,858

Up $2,129,228 (+27%) from 2023

Operations
Liabilities / Revenue93rd percentileNet Margin55th percentile

Revenue

Down

$3,768,799

Down $103,942 (-2.7%) from 2023

Expenses

Up

$3,525,257

Up $155,533 (+4.6%) from 2023

Net Income

Down

$243,542

Down $259,475 (-52%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth57th percentile

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

$30M$20M$10M$0Assets 2011: $18,471,496Liabilities 2011: $14,504,812Net Assets 2011: $3,966,6842011Assets 2012: $18,306,614Liabilities 2012: $14,303,350Net Assets 2012: $4,003,2642012Assets 2013: $18,340,972Liabilities 2013: $14,293,334Net Assets 2013: $4,047,6382013Assets 2014: $16,786,519Liabilities 2014: $10,314,056Net Assets 2014: $6,472,4632014Assets 2015: $16,904,881Liabilities 2015: $10,411,667Net Assets 2015: $6,493,2142015Assets 2016: $17,565,381Liabilities 2016: $10,484,366Net Assets 2016: $7,081,0152016Assets 2017: $18,032,767Liabilities 2017: $10,500,489Net Assets 2017: $7,532,2782017Assets 2018: $18,387,530Liabilities 2018: $10,687,895Net Assets 2018: $7,699,6352018Assets 2019: $19,025,465Liabilities 2019: $12,170,399Net Assets 2019: $6,855,0662019Assets 2020: $19,087,718Liabilities 2020: $13,061,006Net Assets 2020: $6,026,7122020Assets 2021: $18,573,338Liabilities 2021: $12,610,419Net Assets 2021: $5,962,9192021Assets 2022: $20,647,441Liabilities 2022: $14,591,335Net Assets 2022: $6,056,1062022Assets 2023: $22,413,012Liabilities 2023: $14,543,382Net Assets 2023: $7,869,6302023Assets 2024: $23,892,362Liabilities 2024: $13,893,504Net Assets 2024: $9,998,8582024

Highlighted filing

2024

Assets$23,892,362
Liabilities$13,893,504
Net Assets$9,998,858
Open 2024 Filing

Operations Trend

Revenue Growth28th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $3,501,9112011Expenses 2012: $3,325,6572012Revenue 2013: $3,357,874Expenses 2013: $3,313,500Net Income 2013: $44,3742013Revenue 2014: $3,133,905Expenses 2014: $3,176,393Net Income 2014: -$42,4882014Revenue 2015: $3,092,921Expenses 2015: $3,072,171Net Income 2015: $20,7502015Revenue 2016: $3,690,658Expenses 2016: $3,073,251Net Income 2016: $617,4072016Revenue 2017: $3,315,506Expenses 2017: $2,864,243Net Income 2017: $451,2632017Revenue 2018: $3,159,737Expenses 2018: $2,892,380Net Income 2018: $267,3572018Revenue 2019: $3,074,451Expenses 2019: $3,033,560Net Income 2019: $40,8912019Revenue 2020: $3,187,576Expenses 2020: $2,970,884Net Income 2020: $216,6922020Revenue 2021: $2,951,410Expenses 2021: $3,015,203Net Income 2021: -$63,7932021Revenue 2022: $3,380,483Expenses 2022: $3,287,296Net Income 2022: $93,1872022Revenue 2023: $3,872,741Expenses 2023: $3,369,724Net Income 2023: $503,0172023Revenue 2024: $3,768,799Expenses 2024: $3,525,257Net Income 2024: $243,5422024

Highlighted filing

2024

Revenue$3,768,799
Expenses$3,525,257
Net Income$243,542
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
$23,892,362
Liabilities
$13,893,504
Net assets
$9,998,858
Revenue
$3,768,799
Expenses
$3,525,257
Net income
$243,542
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.9$13.9$10.00$3.77$3.53$0.24
2023Detailed filing. Detailed filing data is available for this year.$22.4$14.5$7.87$3.87$3.37$0.50
2022Detailed filing. Detailed filing data is available for this year.$20.6$14.6$6.06$3.38$3.29$0.09
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.6$12.6$5.96$2.95$3.02$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.1$13.1$6.03$3.19$2.97$0.22
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.0$12.2$6.86$3.07$3.03$0.04
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.4$10.7$7.70$3.16$2.89$0.27
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.0$10.5$7.53$3.32$2.86$0.45
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.6$10.5$7.08$3.69$3.07$0.62
2015Detailed filing. Detailed filing data is available for this year.$16.9$10.4$6.49$3.09$3.07$0.02
2014Detailed filing. Detailed filing data is available for this year.$16.8$10.3$6.47$3.13$3.18$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.3$14.3$4.05$3.36$3.31$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.3$14.3$4.00$3.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.5$14.5$3.97$3.50
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Sep 20, 2024
Return Version
2023v6.0
Gross Receipts
$3,768,799
Mission and Program Overview

Mission

To acquire and manage rental property

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$22,125,896$23,466,142▲ $1,340,246
Cash and Non-Interest-Bearing Accounts$246,041$238,687▼ $7,354
Accounts Receivable$31,314$105,733▲ $74,419
Prepaid Expenses and Deferred Charges-$72,039-
Savings and Temporary Cash Investments$0--
Total Assets$22,413,012$23,892,362▲ $1,479,350
Other Assets Total$9,761$9,761→ $0
Liabilities
Unsecured Notes Loans Payable$10,190,950$10,193,212▲ $2,262
Other Liabilities$3,178,922$3,123,750▼ $55,172
Accounts Payable and Accrued Expenses$1,148,480$418,984▼ $729,496
Deferred Revenue$25,030$157,558▲ $132,528
Total Liabilities$14,543,382$13,893,504▼ $649,878
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,869,630$9,998,858▲ $2,129,228
Total Net Assets Fund Balance$7,869,630$9,998,858▲ $2,129,228
Total Liabilities and Net Assets / Fund Balance$22,413,012$23,892,362▲ $1,479,350

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,514,657$16,576,646-
Land$4,893,546--
Equipment$57,939$109,900-
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeOtherTotal
James HurleyTreasurer-$549,949$549,949
Barbara SteinPresident-$438,443$438,443
Jonathan PearsallClerk-start Date 7/24/2023PT$361,593$361,593
Edward P MahoneyDirector-end Date 7/17/2023-$275,263$275,263
Robert ChihadeClerk-end Date 8/15/23FT$163,477$163,477

Board Members and Trustees

NameTitle
Barbara Stein-
Edward P Mahoney-
James Hurley-
Jonathan Pearsall-
Robert Chihade-

Highest Paid Contractors

ContractorServicesLocationCompensation
Creative painting IncPainting and contractor34 Bow Street, Somerville, MA 02143$943,748
Lawns PlusLawn maintenance and snow plowing364 Boston Ave, Medford, MA 02155$264,135
WG DaleyPlumbing and heating574 Boston Ave, Medford, MA 02155$139,555
Dryden Contracting IncConstruction19 Virginia Street, Somerville, MA 02145$101,348
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,768,799
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$243,542

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,768,799
Total Revenue per Audited Statements
$3,768,799
Total Revenue per Form 990
$3,768,799
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,212,621
Salaries, Compensation, and Employee Benefits$312,636
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,002,957$2,265$0$1,005,222
Occupancy$943,028$662$0$943,690
Interest$272,873$0$0$272,873
Other Salaries and Wages$226,131$39,905$0$266,036
Office Expenses$24,823$29,141$0$53,964
Insurance$30,346$8,559$0$38,905
Other Employee Benefits$21,895$4,016$0$25,911
Payroll Taxes$17,483$3,206$0$20,689
Fees for Services Accounting$0$17,500$0$17,500
Other Expenses$1,000$0$0$1,000
Total Functional Expenses$3,403,225$122,032$0$3,525,257

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,525,257
Total Expenses per Audited Statements$3,525,257
Total Expenses per Form 990$3,525,257
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
Term Loan With Trustees$1,719,431
Term Loan With Trustees$1,377,507
Other Accrued Expenses$17,051
Rent Deposits$9,761
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Walnut Hill Properties Corp
EIN
04-3419100
Phone
7813915300
Address
14 CAPEN STREET, MEDFORD, MA 02155

Signing Officer

Name
James M Hurley
Title
VP Finance, CFO and Treasurer
Phone
7813915300
Signed
2024-09-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James M Hurley
Formed
1998
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
0
Employees
3
Volunteers
0

Preparer

Firm
Bernard Johnson & Company Pc
Address
15 MAIN STREET, TOPSFIELD, MA 01983
Preparer
Timothy F Hagan CPA
Phone
9788872220
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The organization has engaged Bernard, Johnson, Hagan, Couto and Company, PC to prepare and sign the tax return as paid preparer. A final Form 990 was reviewed by senior management. Also, the internal tax department of the Organizations Parent Company, Trustees of Tufts College reviewed the document. Thereafter, the return was provided to the full governing body prior to filing the return with the IRS.”

Pt VI, Line 12C

“The Walnut Hill Properties Corporation, being a wholly owned subsidiary of Trustees of Tufts College, requires all employees to adhere to the policies of its parent company. As a result, Trustees of Tufts College maintains an annual statement of compliance and disclosure form questionnaire which is used to reveal conflicts of interest. All employees are required to disclose to the Executive Vice-President any potential conflicts of interest in a statement that is signed and dated, annually.”

Pt VI, Line 15A

“Walnut Hill Properties Corporation follows compensation guidelines as established by its parent company, Trustees of Tufts College.”

Pt VI, Line 15B

“The process for determining compensation for Executives, Officers or Key Employees is done so by the Trustees compensation committee using a multitude of resources and external compensation survey information. All compensation for the organizations key employee, The Director of Real Property Services, is paid for by the Parent Company, Trustees of Tufts College and billed back to Walnut Hill Properties Corporation as an operating cost.”

Pt VI, Line 19

“The Organization makes its governing documents, conflict of interest policy and financial statements available to the public. All are available upon request.”

Financial Statement Notes

Pt X, Line 2

“The Company is exempt from income tax under section 501(c)3 of the Internal Revenue Code. However, income from certain activities not directly related to its tax-exempt purpose is subject to taxation as unrelated business income. Management has evaluated its tax positions applying a more likely than not standard, and believes there are no material uncertainties in the income taxes.”

Raw XML AppendixShowing 400 of 714 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.

Path#Value
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IRS990/ActivityOrMissionDesc0TO ACQUIRE AND MANAGE RENTAL PROPERTY
IRS990/AnnualDisclosureCoveredPrsnInd0true
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt2364 Boston Ave
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt319 Virginia Street
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IRS990/ContractorCompensationGrp/ContractorName/PersonNm3Dryden Contracting Inc
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IRS990/ContractorCompensationGrp/ServicesDesc2Lawn maintenance and snow plowing
IRS990/ContractorCompensationGrp/ServicesDesc3Construction
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IRS990/Form990PartVIISectionAGrp/PersonNm2JONATHAN PEARSALL
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IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2CLERK-START DATE 7/24/2023
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR-END DATE 7/17/2023
IRS990/Form990PartVIISectionAGrp/TitleTxt4CLERK-END DATE 8/15/23
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Company is exempt from income tax under section 501(c)3 of the Internal Revenue Code. However, income from certain activities not directly related to its tax-exempt purpose is subject to taxation as unrelated business income. Management has evaluated its tax positions applying a more likely than not standard, and believes there are no material uncertainties in the income taxes.
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