Civic Intelligence

Forest Springs Inc.

990 • Fiscal year 2024 • EIN 82-1035827

Jan 01, 2024 to Dec 31, 2024 • Filed on May 09, 2025

316A State RdGreat Barrington, MA 01230

(413) 528-1985

Siviq Scores

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

Liabilities / Assets

91st percentile

0.81x

Higher debt load relative to assets than 91% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

20.10x

Higher debt load relative to revenue than 99% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

6th percentile

-47%

Higher net margin than 6% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

56th percentile

$76,817

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 60.7% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

30th percentile

-2.0%

Faster asset growth than 30% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

46th percentile

6.0%

Faster revenue growth than 46% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$3,140,215

Down $64,978 (-2.0%) from 2023

Net Assets

Down

$597,026

Down $59,995 (-9.1%) from 2023

Liabilities

Down

$2,543,189

Down $4,983 (-0.2%) from 2023

Revenue

Up

$126,547

Up $7,120 (+6.0%) from 2023

Expenses

Down

$186,542

Down $10,791 (-5.5%) from 2023

Net Income

Up

-$59,995

Up $17,911 (+23%) from 2023

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2017: $2,637,481Liabilities 2017: $1,709,826Net Assets 2017: $927,6552017Assets 2018: $3,528,976Liabilities 2018: $2,606,652Net Assets 2018: $922,3242018Assets 2019: $3,468,570Liabilities 2019: $2,605,846Net Assets 2019: $862,7242019Assets 2020: $3,415,602Liabilities 2020: $2,587,293Net Assets 2020: $828,3092020Assets 2021: $3,352,358Liabilities 2021: $2,569,186Net Assets 2021: $783,1722021Assets 2022: $3,290,322Liabilities 2022: $2,555,395Net Assets 2022: $734,9272022Assets 2023: $3,205,193Liabilities 2023: $2,548,172Net Assets 2023: $657,0212023Assets 2024: $3,140,215Liabilities 2024: $2,543,189Net Assets 2024: $597,0262024

Highlighted filing

2024

Assets$3,140,215
Liabilities$2,543,189
Net Assets$597,026

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2017: $928,862Expenses 2017: $1,207Net Income 2017: $927,6552017Revenue 2018: $136,524Expenses 2018: $141,855Net Income 2018: -$5,3312018Revenue 2019: $117,972Expenses 2019: $177,572Net Income 2019: -$59,6002019Revenue 2020: $124,361Expenses 2020: $158,776Net Income 2020: -$34,4152020Revenue 2021: $121,186Expenses 2021: $166,323Net Income 2021: -$45,1372021Revenue 2022: $134,844Expenses 2022: $183,089Net Income 2022: -$48,2452022Revenue 2023: $119,427Expenses 2023: $197,333Net Income 2023: -$77,9062023Revenue 2024: $126,547Expenses 2024: $186,542Net Income 2024: -$59,9952024

Highlighted filing

2024

Revenue$126,547
Expenses$186,542
Net Income-$59,995
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 9, 2025
Return Version
2024v5.1
Gross Receipts
$126,547
Mission and Program Overview

Mission

To change and save lives through housing options and related services. The organization provides rental housing units for persons of very low to 60% of median income to meet the critical need for housing in our community and in an effort to meet the state's affordable housing goals.

To own and manage a low to moderate income housing project in great barrington, massachusetts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,067,270$2,975,085▼ $92,185
Savings and Temporary Cash Investments$109,176$126,066▲ $16,890
Cash and Non-Interest-Bearing Accounts$21,226$31,990▲ $10,764
Accounts Receivable$7,521$7,074▼ $447
Total Assets$3,205,193$3,140,215▼ $64,978
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,500,605$2,483,880▼ $16,725
Accounts Payable and Accrued Expenses$36,418$47,273▲ $10,855
Other Liabilities$11,149$12,036▲ $887
Total Liabilities$2,548,172$2,543,189▼ $4,983
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$652,021$592,026▼ $59,995
Net Assets With Donor Restrictions$5,000$5,000→ $0
Total Net Assets Fund Balance$657,021$597,026▼ $59,995
Total Liabilities and Net Assets / Fund Balance$3,205,193$3,140,215▼ $64,978

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,931,485$610,600$3,542,085
Land$43,600-$43,600
Compensation and Service Providers

Employees

NameTitleOtherTotal
Jane RalphExecutive Director$76,817$76,817

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$126,539
Investment Income
$8
Other Revenue
$0
Change in Net Assets
$-59,995
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$186,542
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
Depreciation Depletion$92,185--$92,185
Fees for Services Other$27,646$7,723-$35,369
Insurance$16,462--$16,462
Interest$10,427--$10,427
Fees for Services Accounting-$6,500-$6,500
Other Expenses$2,047--$2,047
Fees for Services Legal$1,460--$1,460
All Other Expenses$75--$75
Total Functional Expenses$172,319$14,223$0$186,542
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
Tenant Security Deposit Escrow$12,036
Governance and Compliance

Governance Checklist

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

Governance Explanations

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

A draft of from 990 is provideed to board members for review and approval prior to filing.

Form 990, Part VI, Section C, Line 19

The governing documents, information return form 990, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Forest Springs Inc
EIN
82-1035827
Phone
4135281985
Address
316A STATE RD, GREAT BARRINGTON, MA 01230

Signing Officer

Name
Peter Dunphy
Title
Treasurer
Phone
4135281985
Signed
2025-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Dunphy
Formed
2017
Legal Domicile
Ma
Voting Board Members
19
Independent Board Members
19
Employees
0
Volunteers
19

Preparer

Firm
Adelson & Company Pc
Address
100 NORTH STREET, PITTSFIELD, MA 01201
Preparer
David M Irwin CPA
Phone
4134436408
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contracted services: program service expenses 14,992. Management and general expenses 7,723. Fundraising expenses 0. Total expenses 22,715. Property management fees: program service expenses 12,654. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,654.

Financial Statement Notes

PART X, LINE 2:

Management has evaluated significant tax positions against the criteria established by professional standards and believes there are no such tax positions requiring accounting recognition.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
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IRS990/MissionDesc0TO CHANGE AND SAVE LIVES THROUGH HOUSING OPTIONS AND RELATED SERVICES. THE ORGANIZATION PROVIDES RENTAL HOUSING UNITS FOR PERSONS OF VERY LOW TO 60% OF MEDIAN INCOME TO MEET THE CRITICAL NEED FOR HOUSING IN OUR COMMUNITY AND IN AN EFFORT TO MEET THE STATE'S AFFORDABLE HOUSING GOALS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt02500605
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt02483880
IRS990/NetAssetsOrFundBalancesBOYAmt0657021
IRS990/NetAssetsOrFundBalancesEOYAmt0597026
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0652021
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0592026
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1UTILITIES, WATER AND SE
IRS990/OtherExpensesGrp/Desc2GARBAGE REMOVAL
IRS990/OtherExpensesGrp/Desc3SECURITY
IRS990/OtherExpensesGrp/ProgramServicesAmt013389
IRS990/OtherExpensesGrp/ProgramServicesAmt15628
IRS990/OtherExpensesGrp/ProgramServicesAmt23000
IRS990/OtherExpensesGrp/ProgramServicesAmt32047
IRS990/OtherExpensesGrp/TotalAmt013389
IRS990/OtherExpensesGrp/TotalAmt15628
IRS990/OtherExpensesGrp/TotalAmt23000
IRS990/OtherExpensesGrp/TotalAmt32047
IRS990/OtherLiabilitiesGrp/BOYAmt011149
IRS990/OtherLiabilitiesGrp/EOYAmt012036
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0PETER DUNPHY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0624200
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM REVENUES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0126539
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0126539
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt08
IRS990/PYOtherExpensesAmt0197333
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0119419
IRS990/PYRevenuesLessExpensesAmt0-77906
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0197333
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0119427
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-59995
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0126539
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0109176
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0126066
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt08
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt08
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt05
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt05
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt07
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt033
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0126539
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0119419
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0134839
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0121181
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0124354
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0626332
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt08
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt08
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt05
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt05
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt07
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt033
IRS990ScheduleA/InvestmentIncomeCYPct00.00010
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99990
IRS990ScheduleA/PublicSupportPY509Pct00.99990
IRS990ScheduleA/PublicSupportTotal509Amt0626332
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0126539
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0119419
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0134839
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0121181
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0124354
IRS990ScheduleA/Total509Grp/TotalAmt0626332
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0126547
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0119427
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0134844
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0121186
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0124361
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0626365
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02931485
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0610600
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03542085
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt043600
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt043600
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt012036
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSIT ESCROW
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS EVALUATED SIGNIFICANT TAX POSITIONS AGAINST THE CRITERIA ESTABLISHED BY PROFESSIONAL STANDARDS AND BELIEVES THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02975085
IRS990ScheduleD/TotalLiabilityAmt012036
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF FROM 990 IS PROVIDEED TO BOARD MEMBERS FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING DOCUMENTS, INFORMATION RETURN FORM 990, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 14,992. MANAGEMENT AND GENERAL EXPENSES 7,723. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 22,715. PROPERTY MANAGEMENT FEES: PROGRAM SERVICE EXPENSES 12,654. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,654.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0CONSTRUCT INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0CONSTRUCT INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0237099108

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