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Peace Properties INC FY2023 filing

Tax-deductible

East Boston, MA501(c)(3)Foundations & GrantmakersEIN 04-3173140Revenue $238K in FY2023

On file with the IRSnoahcdc.org143 Border St, 02128-1903 · East Boston, MATax-exempt since Apr 2018Supporting org, Type I — 509(a)(3)

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The development of low and moderate income housing projects

501(c)(3) charity; gifts are tax-deductible.
76¢ 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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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
1 of 5
filings with a surplus
Average surplus $149K a year · 40% of revenue · last 5 filings
Worth a look: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5.9M
106% of total assets
Concern: liabilities are 106% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$238K
+93% vs prior year
Spent
$268K
To programs
76%
Net assets
−$328K
By yearFY2020–FY2024
Revenue
$238K
FY2023▲ +93%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$215K
FY2022$124K
FY2023$238K
FY2024$150K
Expenses
$268K
FY2023▲ +69%
Tap a bar for its year
Expenses by fiscal year
FY2020$189K
FY2021$273K
FY2022$158K
FY2023$268K
FY2024$231K
Net assets
−$328K
FY2023▼ -10%
Tap a bar for its year
Net assets by fiscal year
FY2020−$207K
FY2021−$264K
FY2022−$299K
FY2023−$328K
FY2024−$821K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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 Apr 2018.

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

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $203K Management & general 24% · $65K

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

15 people listed on the 990.

Part VII, Section A · reportable compensation
David Bryant
President
$0Pt VII · Sec A
Orlando Pacheco
President (until 8/2023)
$0Pt VII · Sec A
Celsa Moreno-Barker
Vice President
$0Pt VII · Sec A
Megan Reagon
Treasurer
$0Pt VII · Sec A
Robert Schmidt
Secretary/ Clerk
$0Pt VII · Sec A
Ana Alonzo
Board Member
$0Pt VII · Sec A
Monica Barrera
Board Member
$0Pt VII · Sec A
Nina Gaeta Coletta
Board Member
$0Pt VII · Sec A
See Peace Properties 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 15aYes

Programs and updates

Builds affordable housing for low and moderate-income families.

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Provided by the organization

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1 program · $203K · in their own filed words · FY2023
01

Development of low and moderate income housing projects.

$203Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$238K
Ln 12
Other incomeLn 4–11$125K
Fees for servicesLn 2g$114K
Money outPt IX
$268K
Ln 25
Programscol B$203K
Managementcol C$65K
Owns and owesPt X
−$328K
net assets · Ln 32
Cash and savingsLn 1–2$23K
Total assetsLn 16$5.6M
LiabilitiesLn 26$5.9M
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$114K
Other incomeLn 4–11$125K
Total revenueLn 12$238K
Assets in detailPt X, end of year
CashLn 1$13K
SavingsLn 2$10K
Cash and savings togetherLn 1–2$23K
Land, buildings, equipmentLn 10c$1.7M
Other assetsLn 15$3.8M
Total assetsLn 16$5.6M
LiabilitiesLn 26$5.9M
Net assetsLn 32−$328K
OperationsPt I, VI
EmployeesI 50
VolunteersI 614
Fiscal year endsHeaderDecember
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 FY23End FY23
Cash and savingsLn 1–2$52K$23K
Land, buildings, equipmentLn 10c$1.7M$1.7M
Total assetsLn 16$5.5M$5.6M
LiabilitiesLn 26$5.8M$5.9M
Net assetsLn 32−$299K−$328K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$55K$55K
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$59K$59K
OccupancyLn 16$38K$38K
InterestLn 20$44K$44K
Depreciation, depletion and amortizationLn 22$55K$55K
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$7K$7K
Total functional expensesLn 25$268K$203K$65K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $150K$231K−$81K−$821K 990 PDF
FY2023 Viewing $238K$268K−$29K−$328K 990 PDF
FY2022 $124K$158K−$35K−$299K 990 PDF
FY2021 $215K$273K−$58K−$264K 990 PDF
FY2020 $1.1M$189K$947K−$207K 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 O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $238,247 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $113,564$113,732
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $10,000$124,515
I-12 Total revenuePrior year $123,564$238,247
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 $158,384$267,585
I-18 Total expensesPrior year $158,384$267,585
I-19 Revenue less expensesPrior year −$34,820−$29,338
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsNo
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 $238,247 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $113,732$113,732
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $124,515$124,515
VIII-12 Total revenueRelated to mission $238,247 · Unrelated business $0 · Excluded from tax $0$238,247
Part IX · Statement of functional expenses $267,585 across 8 lines filed
IX-11b Legal feesManagement $54,733$54,733
IX-11c Accounting feesManagement $3,500$3,500
IX-11g Other fees for servicesPrograms $58,900$58,900
IX-16 OccupancyPrograms $38,002$38,002
IX-20 InterestPrograms $43,776$43,776
IX-22 Depreciation, depletion and amortizationPrograms $55,364$55,364
IX-23 InsuranceManagement $6,562$6,562
IX-24 Other expenses (24a–d)Programs $6,748$6,748
IX-25 Total functional expensesPrograms $202,790 · Management $64,795 · Fundraising $0$267,585
Part X · Balance sheet $5,550,293 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $31,653$13,288
X-2 Savings and temporary cash investmentsStart of year $20,728$9,666
X-9 Prepaid expenses and deferred chargesStart of year $580$2,580
X-10c Land, buildings and equipment, netStart of year $1,735,230$1,679,866
X-15 Other assetsStart of year $3,707,567$3,844,893
X-16 Total assetsStart of year $5,504,728$5,550,293
X-17 Accounts payable and accrued expensesStart of year $293,213$162,877
X-25 Other liabilitiesStart of year $4,589,808$3,299,270
X-26 Total liabilitiesStart of year $5,803,852$5,878,755
X-27 Net assets without donor restrictionsStart of year −$299,124−$328,462
X-32 Total net assets or fund balancesStart of year −$299,124−$328,462
X-33 Total liabilities and net assetsStart of year $5,504,728$5,550,293
Part XI · Reconciliation of net assets −$328,462 net assets at year end
XI-1 Total revenue$238,247
XI-2 Total expenses$267,585
XI-3 Revenue less expenses−$29,338
XI-4 Net assets at start of year−$299,124
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$328,462

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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