Civic Intelligence

Townsend Elderly Residences Inc C/O Rcap Solutions Inc

990 • Fiscal year 2020 • EIN 22-2619885

Nov 01, 2019 to Oct 31, 2020 • Filed on Aug 12, 2021

Organization ProfileN/A
191 May StreetWorcester, MA 01602

(978) 630-6600

Siviq Scores

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

Liabilities / Assets

98th percentile

1.84x

Higher debt load relative to assets than 98% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

95th percentile

4.62x

Higher debt load relative to revenue than 95% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

40th percentile

1.0%

Higher net margin than 40% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

15th percentile

-5.0%

Faster asset growth than 15% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

48th percentile

0.1%

Faster revenue growth than 48% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$1,629,422

Down $85,294 (-5.0%) from 2019

Net Assets

Up

-$1,372,070

Up $6,491 (+0.5%) from 2019

Liabilities

Down

$3,001,492

Down $91,785 (-3.0%) from 2019

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin40th percentile

Revenue

Up

$649,759

Up $840 (+0.1%) from 2019

Expenses

Down

$643,268

Down $8,946 (-1.4%) from 2019

Net Income

Up

$6,491

Up $9,786 (+297%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2010: $2,722,373Liabilities 2010: $3,632,547Net Assets 2010: -$910,1742010Assets 2011: $2,641,231Liabilities 2011: $3,598,812Net Assets 2011: -$957,5812011Assets 2012: $2,556,285Liabilities 2012: $3,564,065Net Assets 2012: -$1,007,7802012Assets 2013: $2,307,454Liabilities 2013: $3,506,084Net Assets 2013: -$1,198,6302013Assets 2014: $2,113,868Liabilities 2014: $3,437,114Net Assets 2014: -$1,323,2462014Assets 2015: $2,068,985Liabilities 2015: $3,399,876Net Assets 2015: -$1,330,8912015Assets 2016: $1,989,067Liabilities 2016: $3,332,953Net Assets 2016: -$1,343,8862016Assets 2017: $1,865,028Liabilities 2017: $3,231,744Net Assets 2017: -$1,366,7162017Assets 2018: $1,770,349Liabilities 2018: $3,145,615Net Assets 2018: -$1,375,2662018Assets 2019: $1,714,716Liabilities 2019: $3,093,277Net Assets 2019: -$1,378,5612019Assets 2020: $1,629,422Liabilities 2020: $3,001,492Net Assets 2020: -$1,372,0702020Assets 2021: $1,555,194Liabilities 2021: $2,919,696Net Assets 2021: -$1,364,5022021Assets 2022: $1,433,455Liabilities 2022: $2,829,450Net Assets 2022: -$1,395,9952022Assets 2023: $1,365,363Liabilities 2023: $2,712,989Net Assets 2023: -$1,347,6262023Assets 2024: $1,323,830Liabilities 2024: $2,647,311Net Assets 2024: -$1,323,4812024

Highlighted filing

2020

Assets$1,629,422
Liabilities$3,001,492
Net Assets-$1,372,070
Open 2020 Filing

Operations Trend

Revenue Growth48th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $611,1042010Expenses 2011: $640,0702011Expenses 2012: $640,3112012Expenses 2013: $783,9032013Revenue 2014: $600,961Expenses 2014: $725,577Net Income 2014: -$124,6162014Revenue 2015: $634,009Expenses 2015: $641,654Net Income 2015: -$7,6452015Revenue 2016: $608,312Expenses 2016: $621,307Net Income 2016: -$12,9952016Revenue 2017: $623,433Expenses 2017: $646,263Net Income 2017: -$22,8302017Revenue 2018: $631,407Expenses 2018: $639,957Net Income 2018: -$8,5502018Revenue 2019: $648,919Expenses 2019: $652,214Net Income 2019: -$3,2952019Revenue 2020: $649,759Expenses 2020: $643,268Net Income 2020: $6,4912020Revenue 2021: $674,633Expenses 2021: $667,065Net Income 2021: $7,5682021Revenue 2022: $664,847Expenses 2022: $696,340Net Income 2022: -$31,4932022Revenue 2023: $724,719Expenses 2023: $676,350Net Income 2023: $48,3692023Revenue 2024: $748,682Expenses 2024: $724,537Net Income 2024: $24,1452024

Highlighted filing

2020

Revenue$649,759
Expenses$643,268
Net Income$6,491
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2019 to Oct 31, 2020
Signed
Aug 12, 2021
Return Version
2019v5.2
Gross Receipts
$649,759
Mission and Program Overview

Mission

To provide affordable residential housing for elderly persons in townsend, ma.

To acquire, construct, rehabilitate and operate 50 units of affordable residential housing for elderly persons in townsend, ma.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,486,582$1,383,057▼ $103,525
Cash and Non-Interest-Bearing Accounts$64,733$55,484▼ $9,249
Prepaid Expenses and Deferred Charges$27,214$29,493▲ $2,279
Accounts Receivable$31$2,613▲ $2,582
Total Assets$1,714,716$1,629,422▼ $85,294
Other Assets Total$136,156$158,775▲ $22,619
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,009,859$2,924,347▼ $85,512
Accounts Payable and Accrued Expenses$64,663$56,152▼ $8,511
Escrow Account Liability$18,673$19,038▲ $365
Deferred Revenue$82$1,955▲ $1,873
Total Liabilities$3,093,277$3,001,492▼ $91,785
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,378,561$-1,372,070▲ $6,491
Total Net Assets Fund Balance$-1,378,561$-1,372,070▲ $6,491
Total Liabilities and Net Assets / Fund Balance$1,714,716$1,629,422▼ $85,294

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,284,183$2,671,050$3,955,233
Equipment$23,719$82,893$106,612
Land$69,924-$69,924
Other Land Buildings$5,231$14,324$19,555
Other Assets Org$25,011--
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Karen KollerPresident/CEO
William MinklePresident/treasurer (thru 8/2/2020)
Chantel BetheaDirector
David ProfitDirector
Greg GaleotaDirector
Janis C ConlonDirector
Laura McgeeDirector
Deborah FoleyClerk/resident Agent

Highest Paid Contractors

ContractorServicesLocationCompensation
Rcap Solutions INCManagement Services191 MAY STREET, Worcester, MA 01620$198,781
Revenue and Support

Revenue Composition

Contributions and Grants
$423,922
Program Service Revenue
$223,020
Investment Income
$56
Other Revenue
$2,761
Change in Net Assets
$6,491

Audited Revenue Reconciliation

Revenue per Audited Statements
$649,759
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$649,759
Total Revenue per Form 990
$649,759
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$643,268
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$313,447--$313,447
Fees for Services Other$111,113--$111,113
Depreciation Depletion$103,525--$103,525
Fees for Services Management-$45,337-$45,337
Office Expenses$16,445--$16,445
Fees for Services Accounting-$10,162-$10,162
Insurance$2,123--$2,123
Conferences and Meetings$1,263--$1,263
Fees for Services Legal-$340-$340
Other Expenses$250--$250
Advertising$78--$78
Total Functional Expenses$587,429$55,839$0$643,268

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$643,268
Total Expenses per Audited Statements$643,268
Total Expenses per Form 990$643,268
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
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, Part VI, Section A, Line 3

“The corporation incurred and paid a management fee of $43,764 for the year ended october 31, 2020 due to rcap. The management fee is equal to 6.75% of total rent collections plus authorized residual receipts account releases used to offset the hap subsidy. The agreement is in effect until canceled by hud, the corporation or rcap.”

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

“The management company ceo works closely with the cpa firm and provides information necessary to complete the 990. The 990 is discussed with the townsend board, highlighting the importance of compliance with irs regulations as it is presented on the 990. The form is electronically sent to the board of directors once completed by the cpa firm.”

Form 990, Part VI, Section C, Line 19

“A copy of the financial statements and governing documents are made available to the public when requested in writing. Requests should be directed to the president of the board of the directors. In addition the form 990 is available at the massachusetts attorney general's website.”

Filing and Contact Details

Filer

Filer Name
Townsend Elderly Residences Inc
EIN
22-2619885
Phone
9786306600
Address
191 MAY STREET, WORCESTER, MA 01602

Signing Officer

Name
Karen Koller
Title
President/CEO
Phone
9786306600
Signed
2021-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Koller
Formed
1985
Legal Domicile
Ma
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Kevin P Martin & Associates Pc
Address
10 FORBES WEST, BRAINTREE, MA 02184
Preparer
Jolanta Tuck CPA
Phone
7813803520
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Management services: program service expenses 111,113. Management and general expenses 0. Fundraising expenses 0. Total expenses 111,113.”

Financial Statement Notes

PART IV, LINE 2B:

“The tenant security deposits are held in a separate bank account. Policy is to collect a security deposit of up to one month's rent from the tenant. Upon termination of the lease, the security deposits can be used to pay for damages caused by the tenant or used against unpaid receivables with the remaining balance being refunded to the tenant.”

Raw XML AppendixShowing 400 of 453 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/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0223020
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0223020
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0425080
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt061
IRS990/PYOtherExpensesAmt0652214
IRS990/PYOtherRevenueAmt03011
IRS990/PYProgramServiceRevenueAmt0220767
IRS990/PYRevenuesLessExpensesAmt0-3295
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0652214
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0648919
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt06491
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0225781
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELANEOUS INCOME - 2015 AMOUNT: $ 21. 2016 AMOUNT: $ 3. 2017 AMOUNT: $ 46. 2018 AMOUNT: $ 177. 2019 AMOUNT: $ 19. LAUNDRY INCOME - 2015 AMOUNT: $ 2,718. 2016 AMOUNT: $ 2,486. 2017 AMOUNT: $ 2,944. 2018 AMOUNT: $ 2,834. 2019 AMOUNT: $ 2,742.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0423922
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0425080
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0417017
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0383942
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0379413
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02029374
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt056
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt061
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt042
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt033
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt024
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0216
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0223020
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0220767
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0211358
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0236969
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0226136
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01118250
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt056
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt061
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt042
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt033
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt024
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0216
IRS990ScheduleA/InvestmentIncomeCYPct00.00010
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt02761
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt03011
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt02990
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt02489
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt02739
IRS990ScheduleA/OtherIncome509Grp/TotalAmt013990
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99550
IRS990ScheduleA/PublicSupportPY509Pct00.98820
IRS990ScheduleA/PublicSupportTotal509Amt03147624
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0646942
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0645847
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0628375
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0620911
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0605549
IRS990ScheduleA/Total509Grp/TotalAmt03147624
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0649759
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0648919
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0631407
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0623433
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0608312
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03161830
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01284183
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02671050
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03955233
IRS990ScheduleD/EquipmentGrp/BookValueAmt023719
IRS990ScheduleD/EquipmentGrp/DepreciationAmt082893
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0106612
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0643268
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt069924
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt069924
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt019039
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt115808
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt298917
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt325011
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1MORTGAGE ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS RESERVE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt05231
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt014324
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt019555
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0649759
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE TENANT SECURITY DEPOSITS ARE HELD IN A SEPARATE BANK ACCOUNT. POLICY IS TO COLLECT A SECURITY DEPOSIT OF UP TO ONE MONTH'S RENT FROM THE TENANT. UPON TERMINATION OF THE LEASE, THE SECURITY DEPOSITS CAN BE USED TO PAY FOR DAMAGES CAUSED BY THE TENANT OR USED AGAINST UNPAID RECEIVABLES WITH THE REMAINING BALANCE BEING REFUNDED TO THE TENANT.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01383057
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0158775
IRS990ScheduleD/TotalExpensesPerForm990Amt0643268
IRS990ScheduleD/TotalRevenuePerForm990Amt0649759
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0649759
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0643268
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION INCURRED AND PAID A MANAGEMENT FEE OF $43,764 FOR THE YEAR ENDED OCTOBER 31, 2020 DUE TO RCAP. THE MANAGEMENT FEE IS EQUAL TO 6.75% OF TOTAL RENT COLLECTIONS PLUS AUTHORIZED RESIDUAL RECEIPTS ACCOUNT RELEASES USED TO OFFSET THE HAP SUBSIDY. THE AGREEMENT IS IN EFFECT UNTIL CANCELED BY HUD, THE CORPORATION OR RCAP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MANAGEMENT COMPANY CEO WORKS CLOSELY WITH THE CPA FIRM AND PROVIDES INFORMATION NECESSARY TO COMPLETE THE 990. THE 990 IS DISCUSSED WITH THE TOWNSEND BOARD, HIGHLIGHTING THE IMPORTANCE OF COMPLIANCE WITH IRS REGULATIONS AS IT IS PRESENTED ON THE 990. THE FORM IS ELECTRONICALLY SENT TO THE BOARD OF DIRECTORS ONCE COMPLETED BY THE CPA FIRM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC WHEN REQUESTED IN WRITING. REQUESTS SHOULD BE DIRECTED TO THE PRESIDENT OF THE BOARD OF THE DIRECTORS. IN ADDITION THE FORM 990 IS AVAILABLE AT THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 111,113. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 111,113.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01714716
IRS990/TotalAssetsEOYAmt01629422
IRS990/TotalAssetsGrp/BOYAmt01714716
IRS990/TotalAssetsGrp/EOYAmt01629422
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0423922
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt055839
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0587429
IRS990/TotalFunctionalExpensesGrp/TotalAmt0643268
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03093277
IRS990/TotalLiabilitiesEOYAmt03001492
IRS990/TotalLiabilitiesGrp/BOYAmt03093277
IRS990/TotalLiabilitiesGrp/EOYAmt03001492
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1378561
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1372070

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,629,422
Liabilities
$3,001,492
Net assets
-$1,372,070
Revenue
$649,759
Expenses
$643,268
Net income
$6,491
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.32$2.65$1.32$0.75$0.72$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.37$2.71$1.35$0.72$0.68$0.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$2.83$1.40$0.66$0.70$0.03
2021Detailed filing. Detailed filing data is available for this year.$1.56$2.92$1.36$0.67$0.67$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.63$3.00$1.37$0.65$0.64$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.71$3.09$1.38$0.65$0.65$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.77$3.15$1.38$0.63$0.64$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.87$3.23$1.37$0.62$0.65$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.99$3.33$1.34$0.61$0.62$0.01
2015Detailed filing. Detailed filing data is available for this year.$2.07$3.40$1.33$0.63$0.64$0.01
2014Detailed filing. Detailed filing data is available for this year.$2.11$3.44$1.32$0.60$0.73$0.12
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.31$3.51$1.20$0.78
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.56$3.56$1.01$0.64
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.64$3.60$0.96$0.64
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.72$3.63$0.91$0.61
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