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Common Ground Development Corporation FY2020 filing

Tax-deductible

Lowell, MA501(c)(3)Since 2002Housing EIN 03-0494844Revenue $828K in FY2020

On file with the IRScommongroundhousing.org155 Merrimack St, 01852-1723 · Lowell, MATax-exempt since Feb 2004Publicly supported — 509(a)(2)

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To develop, own, and operate affordable housing for low and moderate income persons and families in Lowell, Massachusetts, and other communities in Northern Massachusetts.

501(c)(3) charity; gifts are tax-deductible.
69¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $692K a year · 50% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4.1M
80% of total assets
Worth a look: liabilities are 80% of assets; over 65%.
Pt X · Ln 26
Independent board members
11
of 12 voting members
Looks good: 11 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$828K
Spent
$908K
To programs
69%
Net assets
$993K
By yearFY2020–FY2025
Revenue
$828K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$828K
FY2021$1.9M
FY2022$855K
FY2023$1.3M
FY2024$280K
FY2025$3.2M
Expenses
$908K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$908K
FY2021$652K
FY2022$473K
FY2023$652K
FY2024$835K
FY2025$665K
Net assets
$993K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$993K
FY2021$2.2M
FY2022$2.6M
FY2023$3.3M
FY2024$2.7M
FY2025$5.2M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2004.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $626K Management & general 31% · $282K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Glenn Goldman
President
$0Pt VII · Sec A
Jim Wilde
Vice Preside
$0Pt VII · Sec A
James Hogan
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tim Hirbour
Assistant Cl
$0Pt VII · Sec A
Olisa Adigwe
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Common Ground Development Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Builds affordable homes for low-income people in the Lowell area.

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Provided by the organization

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1 program · $626K · in their own filed words · FY2019
01

Community Development

Develop, own, and operate affordable housing for low and moderate income persons and families in lowell, ma, and other communities in northern massachusetts.

$626Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$828K
Ln 12
Gifts and grantsLn 1h$644K
Fees for servicesLn 2g$175K
Other incomeLn 4–11$7K
Money outPt IX
$908K
Ln 25
Programscol B$626K
Managementcol C$282K
Owns and owesPt X
$993K
net assets · Ln 32
Cash and savingsLn 1–2$31K
Total assetsLn 16$5.1M
LiabilitiesLn 26$4.1M
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$644K
Government grantsLn 1e$403K
Noncash giftsLn 1g$41K
Fees for servicesLn 2g$175K
Investment incomeLn 3$996
Other incomeLn 4–11$7K
Total revenueLn 12$828K
Assets in detailPt X, end of year
CashLn 1$31K
Cash and savings togetherLn 1–2$31K
Land, buildings, equipmentLn 10c$2.8M
Other assetsLn 15$1.4M
Total assetsLn 16$5.1M
LiabilitiesLn 26$4.1M
Net assetsLn 32$993K
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$75K$31K
Land, buildings, equipmentLn 10c$2.9M$2.8M
Total assetsLn 16$4.9M$5.1M
LiabilitiesLn 26$3.8M$4.1M
Net assetsLn 32$1.1M$993K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$50K$50K
Other employee benefitsLn 9$8K$8K
Payroll taxesLn 10$4K$4K
Management feesLn 11a$236K$21K$214K
Legal feesLn 11b$7K$7K
Accounting feesLn 11c$48K$48K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$5K$4K$1K
OccupancyLn 16$239K$228K$11K
TravelLn 17$711$711
InterestLn 20$150K$150K
Depreciation, depletion and amortizationLn 22$151K$151K
Other expenses (24a–d)Ln 24$8K$625$7K
Total functional expensesLn 25$908K$626K$282K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.2M$665K$2.5M$5.2M 990 PDF
FY2024 $280K$835K−$554K$2.7M 990 PDF
FY2023 $1.3M$652K$681K$3.3M 990 PDF
FY2022 $855K$473K$382K$2.6M 990 PDF
FY2021 $1.9M$652K$1.2M$2.2M 990 PDF
FY2020 Viewing $828K$908K−$80K$993K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $827,814 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $409,043$644,111
I-9 Program service revenuePrior year $142,469$175,388
I-10 Investment incomePrior year $10,527$996
I-11 Other revenuePrior year $12,337$7,319
I-12 Total revenuePrior year $574,376$827,814
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $58,542$62,069
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $831,354$845,964
I-18 Total expensesPrior year $889,896$908,033
I-19 Revenue less expensesPrior year −$315,520−$80,219
Part VI · Governance 11 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $827,814 across 9 lines filed
VIII-1d Related organizations$200,000
VIII-1e Government grants$402,773
VIII-1f All other contributions, gifts and grants$41,338
VIII-1g Noncash contributions (included above)$41,338
VIII-1h Total contributions, gifts and grants$644,111
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $175,388$175,388
VIII-3 Investment incomeExcluded from tax $996$996
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $7,319$7,319
VIII-12 Total revenueRelated to mission $182,707 · Excluded from tax $996$827,814
Part IX · Statement of functional expenses $908,033 across 13 lines filed
IX-7 Other salaries and wagesPrograms $49,877$49,877
IX-9 Other employee benefitsPrograms $7,715$7,715
IX-10 Payroll taxesPrograms $4,477$4,477
IX-11a Management feesPrograms $21,499 · Management $214,464$235,963
IX-11b Legal feesPrograms $6,890$6,890
IX-11c Accounting feesManagement $47,952$47,952
IX-12 Advertising and promotionPrograms $1,073$1,073
IX-13 Office expensesPrograms $4,173 · Management $1,105$5,278
IX-16 OccupancyPrograms $228,211 · Management $10,914$239,125
IX-17 TravelManagement $711$711
IX-20 InterestPrograms $149,639$149,639
IX-22 Depreciation, depletion and amortizationPrograms $151,450$151,450
IX-24 Other expenses (24a–d)Programs $625 · Management $7,258$7,883
IX-25 Total functional expensesPrograms $625,629 · Management $282,404 · Fundraising $0$908,033
Part X · Balance sheet $5,067,560 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $75,469$31,392
X-4 Accounts receivableStart of year $822,499$833,545
X-9 Prepaid expenses and deferred chargesStart of year $26,990$1,414
X-10c Land, buildings and equipment, netStart of year $2,913,348$2,763,340
X-15 Other assetsStart of year $1,014,660$1,437,869
X-16 Total assetsStart of year $4,852,966$5,067,560
X-17 Accounts payable and accrued expensesStart of year $580,616$742,262
X-19 Deferred revenueStart of year $3,626$5,198
X-26 Total liabilitiesStart of year $3,779,487$4,074,300
X-27 Net assets without donor restrictionsStart of year $519,584$434,047
X-28 Net assets with donor restrictionsStart of year $553,895$559,213
X-32 Total net assets or fund balancesStart of year $1,073,479$993,260
X-33 Total liabilities and net assetsStart of year $4,852,966$5,067,560
Part XI · Reconciliation of net assets $993,260 net assets at year end
XI-1 Total revenue$827,814
XI-2 Total expenses$908,033
XI-3 Revenue less expenses−$80,219
XI-4 Net assets at start of year$1,073,479
XI-10 Net assets at end of year$993,260

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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