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Peter Faneuil Development Group INC FY2020 filing

Tax-deductible

Boston, MA501(c)(3)EIN 04-3144786Revenue $803K in FY2020

On file with the IRS1 Florence St, 02131-3638 · Boston, MATax-exempt since Aug 1992Publicly supported charity — 170(b)(1)(A)(vi)

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To develop and operate housing for low income persons and their families.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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
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 $59K a year · 8% 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
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $108K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.3M
64% of total assets
Fine: liabilities are 64% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$803K
Spent
$558K
To programs
87%
Net assets
$1.3M
By yearFY2020–FY2024
Revenue
$803K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$803K
FY2021$727K
FY2022$614K
FY2023$647K
FY2024$778K
Expenses
$558K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$558K
FY2021$639K
FY2022$658K
FY2023$662K
FY2024$758K
Net assets
$1.3M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$1.4M
FY2022$1.3M
FY2023$1.3M
FY2024$1.3M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1992.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $487K Management & general 13% · $71K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
David Morse
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Peter Faneuil Development Group INC 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds and manages homes for low-income families.

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Provided by the organization

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1 program · $487K · in their own filed words · FY2020
01

Peter faneuil house is a 48 unit affordable housing property in the former faneuil school on beacon hill in boston, massachusetts. Peter faneuil house provides housing and related services for qualified low income tenants and their families.

$487Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2022
Ruby W and Lavon P Linn FoundationFY2022$108K
Total grants receivedfrom 1 funder$108K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$803K
Ln 12
Fees for servicesLn 2g$567K
Gifts and grantsLn 1h$230K
Investment incomeLn 3$3K
Money outPt IX
$558K
Ln 25
Programscol B$487K
Managementcol C$71K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$313K
Total assetsLn 16$3.6M
LiabilitiesLn 26$2.3M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$230K
Government grantsLn 1e$224K
Fees for servicesLn 2g$567K
Investment incomeLn 3$3K
Other incomeLn 4–11$3K
Total revenueLn 12$803K
Assets in detailPt X, end of year
CashLn 1$313K
Cash and savings togetherLn 1–2$313K
Land, buildings, equipmentLn 10c$2.4M
Other assetsLn 15$759K
Total assetsLn 16$3.6M
LiabilitiesLn 26$2.3M
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$187K$313K
Land, buildings, equipmentLn 10c$2.3M$2.4M
Total assetsLn 16$3.2M$3.6M
LiabilitiesLn 26$2.1M$2.3M
Net assetsLn 32$1.1M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$129K$79K$50K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$20K$20K
Other fees for servicesLn 11g$30$30
Advertising and promotionLn 12$5$5
Office expensesLn 13$6K$6K
OccupancyLn 16$95K$95K
InterestLn 20$67K$67K
Depreciation, depletion and amortizationLn 22$145K$145K
InsuranceLn 23$19K$19K
Other expenses (24a–d)Ln 24$74K$74K
Total functional expensesLn 25$558K$487K$71K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $778K$758K$21K$1.3M 990 PDF
FY2023 $647K$662K−$15K$1.3M 990 PDF
FY2022 $614K$658K−$43K$1.3M 990 PDF
FY2021 $727K$639K$87K$1.4M 990 PDF
FY2020 Viewing $803K$558K$245K$1.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $803,068 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$230,400
I-9 Program service revenuePrior year $555,883$566,697
I-10 Investment incomePrior year $13,107$3,080
I-11 Other revenuePrior year $2,891$2,891
I-12 Total revenuePrior year $571,881$803,068
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $600,715$557,862
I-18 Total expensesPrior year $600,715$557,862
I-19 Revenue less expensesPrior year −$28,834$245,206
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $803,068 across 7 lines filed
VIII-1e Government grants$224,400
VIII-1f All other contributions, gifts and grants$6,000
VIII-1h Total contributions, gifts and grants$230,400
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $566,697$566,697
VIII-3 Investment incomeExcluded from tax $3,080$3,080
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,891$2,891
VIII-12 Total revenueRelated to mission $569,588 · Unrelated business $0 · Excluded from tax $3,080$803,068
Part IX · Statement of functional expenses $557,862 across 11 lines filed
IX-11a Management feesPrograms $79,023 · Management $50,286$129,309
IX-11b Legal feesPrograms $2,666$2,666
IX-11c Accounting feesManagement $20,382$20,382
IX-11g Other fees for servicesPrograms $30$30
IX-12 Advertising and promotionPrograms $5$5
IX-13 Office expensesPrograms $5,512$5,512
IX-16 OccupancyPrograms $94,742$94,742
IX-20 InterestPrograms $67,019$67,019
IX-22 Depreciation, depletion and amortizationPrograms $144,827$144,827
IX-23 InsurancePrograms $19,173$19,173
IX-24 Other expenses (24a–d)Programs $74,197$74,197
IX-25 Total functional expensesPrograms $487,194 · Management $70,668 · Fundraising $0$557,862
Part X · Balance sheet $3,572,277 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $187,430$313,206
X-4 Accounts receivableStart of year $6,975$138,256
X-9 Prepaid expenses and deferred chargesStart of year $1,972$569
X-10c Land, buildings and equipment, netStart of year $2,257,004$2,361,695
X-15 Other assetsStart of year $716,609$758,551
X-16 Total assetsStart of year $3,169,990$3,572,277
X-17 Accounts payable and accrued expensesStart of year $29,383$153,300
X-19 Deferred revenueStart of year $95,492$95,884
X-25 Other liabilitiesStart of year $37,935$36,790
X-26 Total liabilitiesStart of year $2,117,009$2,274,090
X-27 Net assets without donor restrictionsStart of year $1,048,441$1,293,647
X-28 Net assets with donor restrictionsStart of year $4,540$4,540
X-32 Total net assets or fund balancesStart of year $1,052,981$1,298,187
X-33 Total liabilities and net assetsStart of year $3,169,990$3,572,277
Part XI · Reconciliation of net assets $1,298,187 net assets at year end
XI-1 Total revenue$803,068
XI-2 Total expenses$557,862
XI-3 Revenue less expenses$245,206
XI-4 Net assets at start of year$1,052,981
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,298,187

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

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