Civic Intelligence

The Caleb Foundation Inc Initiatives in Affordable Housing

990 • Fiscal year 2022 • EIN 22-3205846

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 13, 2023

Organization ProfileWWW.THECALEBFOUNDATION.ORG

View Organization Page

270 BroadwayLynn, MA 01904

(781) 595-4665

Siviq Scores

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

Liabilities / Assets

45th percentile

0.17x

Higher debt load relative to assets than 45% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

63rd percentile

0.48x

Higher debt load relative to revenue than 63% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

97th percentile

85%

Higher net margin than 97% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

30th percentile

$180,000

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

92nd percentile

50%

Faster asset growth than 92% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

98th percentile

351%

Faster revenue growth than 98% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$31,326,979

Up $10,450,454 (+50%) from 2021

Net Assets

Up

$25,943,646

Up $7,994,201 (+45%) from 2021

Liabilities

Up

$5,383,333

Up $2,456,253 (+84%) from 2021

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin97th percentile

Revenue

Up

$11,235,165

Up $8,745,685 (+351%) from 2021

Expenses

Up

$1,667,205

Up $439,984 (+36%) from 2021

Net Income

Up

$9,567,960

Up $8,305,701 (+658%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$40M$30M$20M$10M$0Assets 2010: $7,758,173Liabilities 2010: $1,024,980Net Assets 2010: $6,733,1932010Assets 2011: $8,669,140Liabilities 2011: $947,955Net Assets 2011: $7,721,1852011Assets 2012: $9,711,314Liabilities 2012: $1,042,502Net Assets 2012: $8,668,8122012Assets 2013: $10,623,345Liabilities 2013: $1,010,079Net Assets 2013: $9,613,2662013Assets 2014: $11,437,379Liabilities 2014: $1,164,905Net Assets 2014: $10,272,4742014Assets 2015: $11,370,421Liabilities 2015: $1,029,316Net Assets 2015: $10,341,1052015Assets 2016: $11,980,828Liabilities 2016: $1,020,356Net Assets 2016: $10,960,4722016Assets 2017: $12,690,532Liabilities 2017: $1,138,050Net Assets 2017: $11,552,4822017Assets 2018: $12,673,632Liabilities 2018: $1,389,977Net Assets 2018: $11,283,6552018Assets 2019: $14,049,416Liabilities 2019: $1,612,973Net Assets 2019: $12,436,4432019Assets 2020: $16,536,397Liabilities 2020: $2,306,323Net Assets 2020: $14,230,0742020Assets 2021: $20,876,525Liabilities 2021: $2,927,080Net Assets 2021: $17,949,4452021Assets 2022: $31,326,979Liabilities 2022: $5,383,333Net Assets 2022: $25,943,6462022Assets 2023: $34,753,575Liabilities 2023: $6,063,919Net Assets 2023: $28,689,6562023Assets 2024: $37,927,715Liabilities 2024: $5,720,701Net Assets 2024: $32,207,0142024

Highlighted filing

2022

Assets$31,326,979
Liabilities$5,383,333
Net Assets$25,943,646
Open 2022 Filing

Operations Trend

Revenue Growth98th percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $1,525,6322010Expenses 2011: $321,5842011Expenses 2012: $366,0642012Revenue 2013: $1,608,829Expenses 2013: $587,322Net Income 2013: $1,021,5072013Revenue 2014: $1,487,553Expenses 2014: $865,969Net Income 2014: $621,5842014Revenue 2015: $991,924Expenses 2015: $831,318Net Income 2015: $160,6062015Revenue 2016: $1,335,330Expenses 2016: $1,092,963Net Income 2016: $242,3672016Revenue 2017: $1,054,679Expenses 2017: $1,119,470Net Income 2017: -$64,7912017Revenue 2018: $1,085,803Expenses 2018: $1,127,018Net Income 2018: -$41,2152018Revenue 2019: $2,089,211Expenses 2019: $1,250,314Net Income 2019: $838,8972019Revenue 2020: $1,904,461Expenses 2020: $1,498,775Net Income 2020: $405,6862020Revenue 2021: $2,489,480Expenses 2021: $1,227,221Net Income 2021: $1,262,2592021Revenue 2022: $11,235,165Expenses 2022: $1,667,205Net Income 2022: $9,567,9602022Revenue 2023: $4,176,591Expenses 2023: $1,611,260Net Income 2023: $2,565,3312023Revenue 2024: $5,366,668Expenses 2024: $2,097,202Net Income 2024: $3,269,4662024

Highlighted filing

2022

Revenue$11,235,165
Expenses$1,667,205
Net Income$9,567,960
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 13, 2023
Return Version
2022v5.0
Gross Receipts
$13,878,419
Mission and Program Overview

Mission

To own, invest in, and manage and develop quality affordable housing for low and moderate income families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$17,949,445$25,943,646▲ $7,994,201
Land, Buildings, and Equipment, Net$1,922,170$3,473,218▲ $1,551,048
Investments in Publicly Traded Securities$3,878,764$2,962,296▼ $916,468
Investments Other Securities$3,044,220$2,830,606▼ $213,614
Cash and Non-Interest-Bearing Accounts$101,812$590,699▲ $488,887
Savings and Temporary Cash Investments$112,157$174,668▲ $62,511
Other Notes and Loans Receivable, Net-$130,000-
Accounts Receivable$6,218$28,607▲ $22,389
Prepaid Expenses and Deferred Charges$3,309$25,280▲ $21,971
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$20,876,525$31,326,979▲ $10,450,454
Other Assets Total$11,807,875$21,111,605▲ $9,303,730
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,798,031$4,109,777▲ $1,311,746
Other Liabilities$37,205$953,770▲ $916,565
Accounts Payable and Accrued Expenses$90,084$316,002▲ $225,918
Deferred Revenue$1,760$3,784▲ $2,024
Total Liabilities$2,927,080$5,383,333▲ $2,456,253
Net Assets / Fund Balance
Total Net Assets Fund Balance$17,949,445$25,943,646▲ $7,994,201
Total Liabilities and Net Assets / Fund Balance$20,876,525$31,326,979▲ $10,450,454

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,144,076$639,794$3,783,870
Land$329,142-$329,142
Other Assets Org$68,264--
Other Securities$2,830,606--
Compensation and Service Providers
Top Officer Pay30th percentile

Board Members and Trustees

NameTitle
Warren SawyerChairman Emeritus
Clarke OrzelliChairperson
Debra NutterPresident & CEO
Bessy KongDirector
John WasielewskiDirector
Matthew D LincolnDirector
Roxie SeverenceDirector
Shawn YardleyDirector
Kathryn BurnsClerk
Joan B SawyerClerk Emeritus
VINCE O'DONNELLTreasurer
Robert SnowTreasurer Emeritus

Highest Paid Contractors

ContractorServicesLocationCompensation
Keith Construction INCConstruction3000 DAVENPORT AVE, Canton, MA 02021$447,405
Dms Design LLCArchitecture5 ESSEX GREEN LN, Peabody, MA 01960$197,498
Revenue and Support

Revenue Composition

Contributions and Grants
$905,652
Program Service Revenue
$3,191,562
Investment Income
$7,137,951
Other Revenue
$0
All Other Contributions
$3,000
Change in Net Assets
$9,567,960
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,646,307
Grants and Similar Amounts Paid$20,898
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$131,489--$131,489
All Other Expenses$101,615--$101,615
Other Expenses$91,719--$91,719
Depreciation Depletion$91,372--$91,372
Fees for Services Accounting$38,980--$38,980
Fees for Services Management$37,353--$37,353
Travel$27,344--$27,344
Insurance$25,808--$25,808
Grants to Domestic Individuals$20,898--$20,898
Office Expenses$13,815--$13,815
Fees for Services Legal$9,969--$9,969
Fees for Services Other$7,521--$7,521
Advertising$1,635--$1,635
Total Functional Expenses$1,667,205$0$0$1,667,205
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
Prepaid Lease Revenue$916,643
Tenant Security Deposits$37,127
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“The board of directors include members who are related by marriage.”

Form 990, Part VI, Section A, Line 6

“The members include the board of directors.”

Form 990, Part VI, Section A, Line 7A

“The board of directors are elected by its members.”

Form 990, Part VI, Section A, Line 7B

“The board of directors are responsible for approving governing decisions.”

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

“The form 990 is sent to the executive director for review and approval and is made available to the board of directors for review.”

Form 990, Part VI, Section C, Line 19

“All organizing and operating documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Caleb Foundation Inc
EIN
22-3205846
Phone
7815954665
Address
270 BROADWAY, LYNN, MA 01904

Signing Officer

Name
Debra Nutter
Title
President & CEO
Phone
7815954665
Signed
2023-11-13

Organization Details

Principal Officer
Debra Nutter
Formed
1992
Legal Domicile
Ma
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
0

Preparer

Firm
Otis Atwell
Address
324 GANNETT DRIVE, SOUTH PORTLAND, ME 04106
Preparer
Gregory Geisser
Phone
2077801100
Raw XML AppendixShowing 400 of 1,127 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/OtherExpensesGrp/Desc2MAINTENANCE
IRS990/OtherExpensesGrp/Desc3UTILITIES
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IRS990/OtherExpensesGrp/TotalAmt1252760
IRS990/OtherExpensesGrp/TotalAmt2152579
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IRS990/PoliticalCampaignActyInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt025280
IRS990/PrincipalOfficerNm0DEBRA NUTTER
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IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11034457
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11034457
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2360441
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3150116
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt448830
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0601047
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt019351
IRS990/PYInvestmentIncomeAmt0533364
IRS990/PYOtherExpensesAmt01207870
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt01355069
IRS990/PYRevenuesLessExpensesAmt01262259
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01227221
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02489480
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt09567960
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IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
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IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0112157
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt050175
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01281142
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0236979
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt03074995
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0466873
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt013377294
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0255696
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM AFFILIATES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESERVES AND ESCROWS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4DONOR RESTRICTED CASH

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$31,326,979
Liabilities
$5,383,333
Net assets
$25,943,646
Revenue
$11,235,165
Expenses
$1,667,205
Net income
$9,567,960
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.9$5.72$32.2$5.37$2.10$3.27
2023Summary only. Only limited summary data is available for this year.$34.8$6.06$28.7$4.18$1.61$2.57
2022Detailed filing. Detailed filing data is available for this year.$31.3$5.38$25.9$11.2$1.67$9.57
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.9$2.93$17.9$2.49$1.23$1.26
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.5$2.31$14.2$1.90$1.50$0.41
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.0$1.61$12.4$2.09$1.25$0.84
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.7$1.39$11.3$1.09$1.13$0.04
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.7$1.14$11.6$1.05$1.12$0.06
2016Summary only. Only limited summary data is available for this year.$12.0$1.02$11.0$1.34$1.09$0.24
2015Detailed filing. Detailed filing data is available for this year.$11.4$1.03$10.3$0.99$0.83$0.16
2014Detailed filing. Detailed filing data is available for this year.$11.4$1.16$10.3$1.49$0.87$0.62
2013Summary only. Only limited summary data is available for this year.$10.6$1.01$9.61$1.61$0.59$1.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.71$1.04$8.67$0.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.67$0.95$7.72$0.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.76$1.02$6.73$1.53
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)3 • $25M-$50M nonprofits