philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Common Ground Development Corporation FY2023 filing

Tax-deductible

Lowell, MA501(c)(3)Since 2002HousingEIN 03-0494844

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.
27¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $328K a year · 32% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
27%
of spending
Concern: 27% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.3M
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 12 voting members
Looks good: 10 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
$1.3M
+56% vs prior year
Spent
$652K
To programs
27%
Net assets
$3.3M
By yearFY2020–FY2024
Revenue
$1.3M
FY2023▲ +56%
Revenue by fiscal year
FY2020$828K
FY2021$1.9M
FY2022$855K
FY2023$1.3M
FY2024$280K
FY2024$3.2M
Expenses
$652K
FY2023▲ +38%
Expenses by fiscal year
FY2020$908K
FY2021$652K
FY2022$473K
FY2023$652K
FY2024$835K
FY2024$665K
Net assets
$3.3M
FY2023▲ +26%
Net assets by fiscal year
FY2020$993K
FY2021$2.2M
FY2022$2.6M
FY2023$3.3M
FY2024$2.7M
FY2024$5.2M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

Give Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CCommon Ground Development Corporation
EINHdr · item D03-0494844
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFFeb 2004
Year of formationHdr · item L2002
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CLowell, MA
NTEE classificationIRS BMFHousing (L21)
WebsiteHdr · item Jwww.commongroundhousing.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.27 Management & general $0.73
Program services27%$176K
Management & general73%$476K
Total functional expensesLn 25$652K

Finances

Money in and out, what it owns and owes

Spent on programs
27%
of spending reaches programs
Months of spending covered by cash
1.3mo
months of spending covered by cash and easy-to-sell investments
Surplus or deficit
+51%
as % of revenue, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$5.6M
FY2023▲ +45%
Total assets by fiscal year
FY2020$5.1M
FY2021$7.5M
FY2022$3.8M
FY2023$5.6M
FY2024$5.6M
FY2024$7.7M
Total liabilities
$2.3M
FY2023▲ +82%
Total liabilities by fiscal year
FY2020$4.1M
FY2021$5.3M
FY2022$1.3M
FY2023$2.3M
FY2024$2.9M
FY2024$2.5M
Revenue less expensesPt I · Ln 19$681K
Total assetsPt X · Ln 16$5.6M
Spent on programsPt IX · col B27%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 410

Balance Sheet

Part X · end of year
CashLn 1$73K
Total assetsLn 16$5.6M
Total liabilitiesLn 26$2.3M
Total net assetsLn 32$3.3M
Months of cash on handcomputed1.3

Statement of Revenue

Part VIII
Program service revenue$989K · 74%
Contributions & grants$313K · 23%
Investment income$20K · 1%
Other revenue$12K · 1%
Program service revenue74%$989K
Contributions & grants23%$313K
Investment income1%$20K
Other revenue1%$12K
— government grantsLn 1e$110K
Total revenueLn 12$1.3M

Money in detail

Form 990 · FY2023 · each figure shown with the dollars behind it
Cash and giving out
Months of spending covered by cash
Cash and easy-to-sell investments $73K · Operating expenses/yr $652K
1.3 months
Where the money goes
Program services
Program services $176K · Total expenses $652K
27%
Management & General
Management & general $476K · Total expenses $652K
73%
Fundraising
Fundraising $0 · Total expenses $652K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $435K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $313K · Total revenue $1.3M
23%
Government reliance
Government grants $110K · Total revenue $1.3M
8%
Earned-income share
Program service revenue $989K · Total revenue $1.3M
74%
Investment reliance
Investment income $20K · Total revenue $1.3M
+1%
Program self-sufficiency
Program service revenue $989K · Total expenses $652K
152%
Growth & trend
Revenue change from last year
This year $1.3M · Prior year $855K
+56%
Net assets change over the year
End of year $3.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus or deficit, as % of revenue
Revenue $1.3M · Expenses $652K
+51%
Debts compared to what it owns
Total liabilities — · Total assets $5.6M
—
Net assets compared to what it owns
Net assets $3.3M · Total assets $5.6M
59%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $5.6M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Glenn Goldman · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $652K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $10K · Total expenses $652K
2%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Spent on programs 27%——
Spent on management, % of spending 73%——
Fundraising cost, % of gifts 0%——
Revenue growth 56%——
Legal fees, % of spending 0.5%——
Accounting fees, % of spending 8%——

Straight from the Form 990 — descriptive, not an evaluation. A share is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Glenn Goldman
President
$0Pt VII · Sec A
James Hogan
Treasurer
$0Pt VII · Sec A
Carl Howell
Vice Preside
$0Pt VII · Sec A
Tim Hirbour
Assistant Cl
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tha Chhan
Director
$0Pt VII · Sec A
Chris Hayes
Director
$0Pt VII · Sec A
See Common Ground Development Corporation executive salaries →

Are you one of these people? Claim this org to confirm your role

Governance & Policies

Part VI
  • 12Voting board membersPt VI · Ln 1a
  • 10Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2Yes

Mission and programs

What it does.

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

Provided by the organization

This section is blank until Common Ground Development Corporation claims this page.

Know this organization? Claim it to add your story

Mission & Programs · Part III

Where the work happens

1 program service account for $176K of program spending, described in the organization's own filed words · FY2022.
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.

$176Kprogram expense

Run this program? Claim this org to tell your story

Funders

Who pays for it.

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

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $280K$835K-79% 990 PDF
FY2023 Viewing $1.3M$652K+56% 990 PDF
FY2022 $855K$473K-54% 990 PDF
FY2021 $1.9M$652K+125% 990 PDF
FY2020 $828K$908K 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Full filing: Form 990 for FY2023

Every line we hold from the return, cited to its Part and line.
Part VIII · Statement of revenue $1,333,407 across 7 lines filed
VIII-1e Government grants$109,593
VIII-1f All other contributions, gifts and grants$203,388
VIII-1h Total contributions, gifts and grants$312,981
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $988,625$988,625
VIII-3 Investment incomeExcluded from tax $19,727$19,727
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $12,074$12,074
VIII-12 Total revenueRelated to mission $1,000,699 · Excluded from tax $19,727$1,333,407
Part IX · Statement of functional expenses $652,147 across 13 lines filed
IX-7 Other salaries and wagesPrograms $8,170$8,170
IX-9 Other employee benefitsPrograms $1,571$1,571
IX-10 Payroll taxesPrograms $716$716
IX-11a Management feesPrograms $3,435 · Management $392,077$395,512
IX-11b Legal feesPrograms $336 · Management $2,816$3,152
IX-11c Accounting feesManagement $54,046$54,046
IX-11g Other fees for servicesPrograms $485$485
IX-13 Office expensesPrograms $2,623 · Management $3,350$5,973
IX-16 OccupancyPrograms $104,234 · Management $18,914$123,148
IX-20 InterestPrograms $13,196$13,196
IX-22 Depreciation, depletion and amortizationPrograms $34,684$34,684
IX-24 Other expenses (24a–d)Programs $8,604 · Management $5,129$13,733
IX-24e All other expensesPrograms −$2,239−$2,239
IX-25 Total functional expensesPrograms $175,815 · Management $476,332 · Fundraising $0$652,147
Part X · Balance sheet $5,554,858 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $525,809$73,239
X-4 Accounts receivableStart of year $200,944$1,038,394
X-9 Prepaid expenses and deferred chargesStart of year $4,313$4,721
X-10c Land, buildings and equipment, netStart of year $526,409$529,126
X-15 Other assetsStart of year $2,583,527$3,909,378
X-16 Total assetsStart of year $3,841,002$5,554,858
X-17 Accounts payable and accrued expensesStart of year $906,704$1,208,311
X-19 Deferred revenueStart of year $901$2,782
X-26 Total liabilitiesStart of year $1,256,810$2,289,406
X-27 Net assets without donor restrictionsStart of year $2,284,717$3,038,550
X-28 Net assets with donor restrictionsStart of year $299,475$226,902
X-32 Total net assets or fund balancesStart of year $2,584,192$3,265,452
X-33 Total liabilities and net assetsStart of year $3,841,002$5,554,858
Part XI · Reconciliation of net assets $3,265,452 net assets at year end
XI-1 Total revenue$1,333,407
XI-2 Total expenses$652,147
XI-3 Revenue less expenses$681,260
XI-4 Net assets at start of year$2,584,192
XI-10 Net assets at end of year$3,265,452

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

Similar organizations you could support

Closest in mission — by what they do
Horizon Community Development CorporationTN
Housing Development CorporationAL
Community Housing Development Corporation of Central KansasKS
Common Ground INCMD
Housing Development Corporation of Ne PAPA
Central Alabama Development CorporationAL
See all organizations like Common Ground Development Corporation →

Run this organization? Claim this page

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

Export with similar orgs (CSV)
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.