Civic Intelligence

Wellesley Housing Development Corporation

990 • Fiscal year 2022 • EIN 31-1802126

Jul 01, 2021 to Jun 30, 2022 • Filed on May 09, 2023

Organization ProfileN/A
Wellesley Town Hall525 WashingtonWellesley, MA 02482

(781) 431-1019

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

48th percentile

3.7%

Higher net margin than 48% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

48th percentile

0.0%

Faster asset growth than 48% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

38th percentile

-2.0%

Faster revenue growth than 38% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets58th percentile

Assets

Up

$461,816

Up $143 (+0.0%) from 2021

Net Assets

Up

$461,816

Up $143 (+0.0%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin48th percentile

Revenue

Down

$3,883

Down $81 (-2.0%) from 2021

Expenses

Up

$3,740

Up $575 (+18%) from 2021

Net Income

Down

$143

Down $656 (-82%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth48th percentile

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

$600K$400K$200K$0Assets 2012: $97,747Liabilities 2012: $0Net Assets 2012: $97,7472012Assets 2013: $100,045Liabilities 2013: $0Net Assets 2013: $100,0452013Assets 2014: $100,361Liabilities 2014: $1,400Net Assets 2014: $98,9612014Assets 2015: $196,554Liabilities 2015: $0Net Assets 2015: $196,5542015Assets 2016: $197,388Liabilities 2016: $0Net Assets 2016: $197,3882016Assets 2017: $477,765Liabilities 2017: $0Net Assets 2017: $477,7652017Assets 2018: $459,732Liabilities 2018: $0Net Assets 2018: $459,7322018Assets 2019: $462,355Liabilities 2019: $0Net Assets 2019: $462,3552019Assets 2020: $460,874Liabilities 2020: $0Net Assets 2020: $460,8742020Assets 2021: $461,673Liabilities 2021: $0Net Assets 2021: $461,6732021Assets 2022: $461,816Liabilities 2022: $0Net Assets 2022: $461,8162022Assets 2023: $461,862Liabilities 2023: $0Net Assets 2023: $461,8622023Assets 2024: $475,144Liabilities 2024: $0Net Assets 2024: $475,1442024Assets 2025: $489,531Liabilities 2025: $0Net Assets 2025: $489,5312025

Highlighted filing

2022

Assets$461,816
Liabilities$0
Net Assets$461,816
Open 2022 Filing

Operations Trend

Revenue Growth38th percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2012: $698,2312012Revenue 2013: $7,116Expenses 2013: $4,818Net Income 2013: $2,2982013Revenue 2014: $2,082Expenses 2014: $3,166Net Income 2014: -$1,0842014Revenue 2015: $103,268Expenses 2015: $5,675Net Income 2015: $97,5932015Revenue 2016: $3,909Expenses 2016: $3,075Net Income 2016: $8342016Revenue 2017: $287,172Expenses 2017: $6,795Net Income 2017: $280,3772017Revenue 2018: $645,467Expenses 2018: $663,500Net Income 2018: -$18,0332018Revenue 2019: $6,368Expenses 2019: $3,745Net Income 2019: $2,6232019Revenue 2020: $2,259Expenses 2020: $3,740Net Income 2020: -$1,4812020Revenue 2021: $3,964Expenses 2021: $3,165Net Income 2021: $7992021Revenue 2022: $3,883Expenses 2022: $3,740Net Income 2022: $1432022Revenue 2023: $3,371Expenses 2023: $3,325Net Income 2023: $462023Revenue 2024: $16,932Expenses 2024: $3,650Net Income 2024: $13,2822024Revenue 2025: $18,037Expenses 2025: $3,650Net Income 2025: $14,3872025

Highlighted filing

2022

Revenue$3,883
Expenses$3,740
Net Income$143
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 9, 2023
Return Version
2021v4.2
Gross Receipts
$3,883
Mission and Program Overview

Mission

The wellesley housing development (whdc) is a non-profit corporation authorized by the 1997 annual town meeting and established by special legislation enacted in 1998 by the general court to create and preserve affordable housing (defined as housing for individuals or families with income at less than 80% of the region's median income) in wellesley. The whdc was formed to focus on creative ways to increase and preserve affordable housing in wellesley through partnerships & through its own.

To sponsor and assist in development and preservation of affordable housing opportunities for persons of low and moderate income in the town of wellesley, massachusetts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$461,673$461,816▲ $143
Total Assets$461,673$461,816▲ $143
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$364,028$365,710▲ $1,682
Net Assets Without Donor Restrictions$97,645$96,106▼ $1,539
Total Net Assets Fund Balance$461,673$461,816▲ $143
Total Liabilities and Net Assets / Fund Balance$461,673$461,816▲ $143

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$364,028-▲ $1,682-$365,710
2020$363,398-▲ $630-$364,028
2019$361,720-▲ $1,678-$363,398
2018$359,656-▲ $2,064-$361,720
2017$378,101-▲ $1,555$20,000$359,656
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
MICAH O'NEILCo Chairman & Directo
Robert GoldkampCo Chairman & Directo
Marjorie FreimanDirector
Holly GraceSecretary & Director
Michael NillesTreasurer & Director
Revenue and Support

Revenue Composition

Contributions and Grants
$1,749
Program Service Revenue
$0
Investment Income
$2,134
Other Revenue
$0
Change in Net Assets
$143
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,740
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
Fees for Services Accounting-$3,045-$3,045
Fees for Services Other$695--$695
Total Functional Expenses$695$3,045$0$3,740
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

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

“Whdc's board of directors are appointed by the selectmen of the town of wellesley.”

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

“Certain decisions made by whdc directors require the approval of the board of selectmen, including the purchase and sale of property held for sale to be maintained or converted to affordable housing.”

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

“After the irs form 990 is prepared by the independent tax preparer, it is presented to the whdc board of directors for review and approval at one of its publicly posted and held meetings.”

Form 990, Part VI, Section C, Line 18

“They are available upon request by contacting the town of wellesley.”

Form 990, Part VI, Section C, Line 19

“They are available upon request by contacting the town of wellesley.”

Filing and Contact Details

Filer

Filer Name
Wellesley Housing Development
EIN
31-1802126
Phone
7814311019
Address
WELLESLEY TOWN HALL525 WASHINGTON, WELLESLEY, MA 02482

Signing Officer

Name
Meghan C Jop
Title
Administrator
Phone
7814311019
Signed
2023-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Meghan C Jop
Formed
1998
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Baumann & Baumann Cpas Llp
Address
40 WALNUT STREET SUITE 301, WELLESLEY, MA 02481
Preparer
Karl M Baumann
Phone
7812390190
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Landscaping: program service expenses 695. Management and general expenses 0. Fundraising expenses 0. Total expenses 695.”

Financial Statement Notes

PART V, LINE 4:

“Cash contributions to the affordable housing trust fund account established by the wellesley housing development corporation pursuant to chapter 311 of the acts of 1998 and moneys so deposited shall only be used to provide assisted housing units.”

Raw XML Appendix326 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/ActivityOrMissionDesc0TO SPONSOR AND ASSIST IN DEVELOPMENT AND PRESERVATION OF AFFORDABLE HOUSING OPPORTUNITIES FOR PERSONS OF LOW AND MODERATE INCOME IN THE TOWN OF WELLESLEY, MASSACHUSETTS.
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IRS990/Desc0SPONSORING AND ASSISTING IN DEVELOPMENT AND PRESERVATION OF AFFORDABLE HOUSING OPPORTUNITIES FOR PERSONS OF LOW AND MODERATE INCOME IN THE TOWN OF WELLESLEY, MASSACHUSETTS. PROVIDING ANALYSIS AND ADVICE TO 1) THE TOWN OF WELLESLEY PLANNING BOARD IN CONNECTION WITH ITS DEVELOPMENT OF INCLUSIONARY ZONING PROVISION IN THE ZONING BYLAWS AND 2) THE TOWN OF WELLESLEY SELECTMEN IN CONNECTION WITH THE PRESERVATION OF THE RENTAL ASSISTANCE SUBSIDY AT EXISTING AFFORDABLE HOUSING PROJECTS. MONITORING AND MAINTENANCE OF SUCH HOUSING.
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/MissionDesc0THE WELLESLEY HOUSING DEVELOPMENT (WHDC) IS A NON-PROFIT CORPORATION AUTHORIZED BY THE 1997 ANNUAL TOWN MEETING AND ESTABLISHED BY SPECIAL LEGISLATION ENACTED IN 1998 BY THE GENERAL COURT TO CREATE AND PRESERVE AFFORDABLE HOUSING (DEFINED AS HOUSING FOR INDIVIDUALS OR FAMILIES WITH INCOME AT LESS THAN 80% OF THE REGION'S MEDIAN INCOME) IN WELLESLEY. THE WHDC WAS FORMED TO FOCUS ON CREATIVE WAYS TO INCREASE AND PRESERVE AFFORDABLE HOUSING IN WELLESLEY THROUGH PARTNERSHIPS & THROUGH ITS OWN.
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IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CASH CONTRIBUTIONS TO THE AFFORDABLE HOUSING TRUST FUND ACCOUNT ESTABLISHED BY THE WELLESLEY HOUSING DEVELOPMENT CORPORATION PURSUANT TO CHAPTER 311 OF THE ACTS OF 1998 AND MONEYS SO DEPOSITED SHALL ONLY BE USED TO PROVIDE ASSISTED HOUSING UNITS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WHDC'S BOARD OF DIRECTORS ARE APPOINTED BY THE SELECTMEN OF THE TOWN OF WELLESLEY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CERTAIN DECISIONS MADE BY WHDC DIRECTORS REQUIRE THE APPROVAL OF THE BOARD OF SELECTMEN, INCLUDING THE PURCHASE AND SALE OF PROPERTY HELD FOR SALE TO BE MAINTAINED OR CONVERTED TO AFFORDABLE HOUSING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AFTER THE IRS FORM 990 IS PREPARED BY THE INDEPENDENT TAX PREPARER, IT IS PRESENTED TO THE WHDC BOARD OF DIRECTORS FOR REVIEW AND APPROVAL AT ONE OF ITS PUBLICLY POSTED AND HELD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THEY ARE AVAILABLE UPON REQUEST BY CONTACTING THE TOWN OF WELLESLEY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THEY ARE AVAILABLE UPON REQUEST BY CONTACTING THE TOWN OF WELLESLEY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5LANDSCAPING: PROGRAM SERVICE EXPENSES 695. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 695.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0461673
IRS990/TotalAssetsEOYAmt0461816
IRS990/TotalAssetsGrp/BOYAmt0461673
IRS990/TotalAssetsGrp/EOYAmt0461816
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01749
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03045
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0695
IRS990/TotalFunctionalExpensesGrp/TotalAmt03740
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0461673
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0461816
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0695
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt02134
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03883
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0461673
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0461816
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0WELLESLEY TOWN HALL525 WASHINGTON
IRS990/USAddress/CityNm0WELLESLEY
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002482
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MEGHAN C JOP
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0ADMINISTRATOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07814311019
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WELLESLEY HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0WELL
ReturnHeader/Filer/EIN0311802126
ReturnHeader/Filer/PhoneNum07814311019
ReturnHeader/Filer/USAddress/AddressLine1Txt0WELLESLEY TOWN HALL525 WASHINGTON
ReturnHeader/Filer/USAddress/CityNm0WELLESLEY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002482
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0043006399
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BAUMANN & BAUMANN CPAS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt040 WALNUT STREET SUITE 301
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WELLESLEY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002481
ReturnHeader/PreparerPersonGrp/PhoneNum07812390190
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KARL M BAUMANN
ReturnHeader/ReturnTs02023-05-10T10:16:53-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MEGHAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0JOP
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$461,816
Liabilities
$0
Net assets
$461,816
Revenue
$3,883
Expenses
$3,740
Net income
$143
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.90$0.00$4.90$0.18$0.04$0.14
2024Detailed filing. Detailed filing data is available for this year.$4.75$0.00$4.75$0.17$0.04$0.13
2023Detailed filing. Detailed filing data is available for this year.$4.62$0.00$4.62$0.03$0.03$0.00
2022Detailed filing. Detailed filing data is available for this year.$4.62$0.00$4.62$0.04$0.04$0.00
2021Detailed filing. Detailed filing data is available for this year.$4.62$0.00$4.62$0.04$0.03$0.01
2020Detailed filing. Detailed filing data is available for this year.$4.61$0.00$4.61$0.02$0.04$0.01
2019Detailed filing. Detailed filing data is available for this year.$4.62$0.00$4.62$0.06$0.04$0.03
2018Detailed filing. Detailed filing data is available for this year.$4.60$0.00$4.60$6.45$6.64$0.18
2017Detailed filing. Detailed filing data is available for this year.$4.78$0.00$4.78$2.87$0.07$2.80
2016Detailed filing. Detailed filing data is available for this year.$1.97$0.00$1.97$0.04$0.03$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.97$0.00$1.97$1.03$0.06$0.98
2014Detailed filing. Detailed filing data is available for this year.$1.00$0.01$0.99$0.02$0.03$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.00$1.00$0.07$0.05$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.98$0.00$0.98$6.98