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Shalom Properties FY2022 filing

Not tax-deductible

East Boston, MAMutual-benefit / member-servingEIN 04-3358724

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The organization was formed for the exclusive purpose of holding title to certain real property located in east boston and to collect rental income from the property and remit all income less expenses to neighborhood of affordable housing, INC., a 501 (c) (3) public charity organization.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
2 of 5
filings with a surplus
Average deficit $2K a year · under 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.6M
89% of total assets
Concern: liabilities are 89% 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
$430K
-55% vs prior year
Spent
$447K
To programs
100%
Net assets
$199K
By yearFY2020–FY2024
Revenue
$430K
FY2022▼ -55%
Revenue by fiscal year
FY2020$493K
FY2021$945K
FY2022$430K
FY2023$468K
FY2024$522K
Expenses
$447K
FY2022▼ -55%
Expenses by fiscal year
FY2020$462K
FY2021$986K
FY2022$447K
FY2023$483K
FY2024$487K
Net assets
$199K
FY2022▼ -8%
Net assets by fiscal year
FY2020$257K
FY2021$217K
FY2022$199K
FY2023$184K
FY2024$219K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 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 May 1997.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $447K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

21 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Michael Lake
President (until 2/2022)
$0Pt VII · Sec A
Mark Savatsky
Vice President (until 2/2022)
$0Pt VII · Sec A
$0Pt VII · Sec A
Rick High
Board Member
$0Pt VII · Sec A
Ana Alonzo
Board Member
$0Pt VII · Sec A
David Bryant
Board Member
$0Pt VII · Sec A
Monica Barrera
Board Member
$0Pt VII · Sec A
See Shalom Properties 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

Holds property title, collects rent, and sends income to affordable housing initiatives.

Provided by the organization

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1 program · $447K · in their own filed words · FY2022
01

Provides residential housing to low to moderate income INDIVIDUALS/FAMILIES.

$447Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $519K · 2021–2021
Neighborhood of Affordable Housing INCMA · FY2021$519,082

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$430K
Ln 12
Fees for servicesLn 2g$422K
Other incomeLn 4–11$6K
Investment incomeLn 3$2K
Money outPt IX
$447K
Ln 25
Programscol B$447K
Owns and owesPt X
$199K
net assets · Ln 32
Cash and savingsLn 1–2$125K
Total assetsLn 16$1.8M
LiabilitiesLn 26$1.6M
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$422K
Investment incomeLn 3$2K
Other incomeLn 4–11$6K
Total revenueLn 12$430K
Assets in detailPt X, end of year
CashLn 1$26K
SavingsLn 2$98K
Cash and savings togetherLn 1–2$125K
Land, buildings, equipmentLn 10c$1.4M
Other assetsLn 15$193K
Total assetsLn 16$1.8M
LiabilitiesLn 26$1.6M
Net assetsLn 32$199K
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 FY22End FY22
Cash and savingsLn 1–2$139K$125K
Land, buildings, equipmentLn 10c$1.5M$1.4M
Total assetsLn 16$1.8M$1.8M
LiabilitiesLn 26$1.6M$1.6M
Net assetsLn 32$217K$199K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$25K
Legal feesLn 11b$120
Accounting feesLn 11c$15K
Other fees for servicesLn 11g$63K
Office expensesLn 13$5K
OccupancyLn 16$189K
InterestLn 20$39K
Depreciation, depletion and amortizationLn 22$57K
InsuranceLn 23$38K
Other expenses (24a–d)Ln 24$16K
Total functional expensesLn 25$447K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $522K$487K$35K$219K 990 PDF
FY2023 $468K$483K−$15K$184K 990 PDF
FY2022 Viewing $430K$447K−$17K$199K 990 PDF
FY2021 $945K$986K−$41K$217K 990 PDF
FY2020 $493K$462K$31K$257K 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $429,822 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $421,890$421,890
VIII-3 Investment incomeExcluded from tax $2,322$2,322
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $5,610$5,610
VIII-12 Total revenueRelated to mission $427,500 · Unrelated business $0 · Excluded from tax $2,322$429,822
Part IX · Statement of functional expenses $447,070 across 10 lines filed
IX-11a Management fees$24,989
IX-11b Legal fees$120
IX-11c Accounting fees$15,400
IX-11g Other fees for services$62,996
IX-13 Office expenses$4,748
IX-16 Occupancy$189,453
IX-20 Interest$38,879
IX-22 Depreciation, depletion and amortization$56,528
IX-23 Insurance$38,212
IX-24 Other expenses (24a–d)$15,745
IX-25 Total functional expenses$447,070
Part X · Balance sheet $1,791,740 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $26,517$26,307
X-2 Savings and temporary cash investmentsStart of year $112,511$98,274
X-4 Accounts receivableStart of year $27,379$43,977
X-9 Prepaid expenses and deferred chargesStart of year $27,431$29,820
X-10c Land, buildings and equipment, netStart of year $1,450,492$1,400,351
X-15 Other assetsStart of year $171,596$193,011
X-16 Total assetsStart of year $1,815,926$1,791,740
X-17 Accounts payable and accrued expensesStart of year $56,519$67,150
X-25 Other liabilitiesStart of year $85,520$84,170
X-26 Total liabilitiesStart of year $1,599,249$1,592,311
X-27 Net assets without donor restrictionsStart of year $116,677$199,429
X-28 Net assets with donor restrictionsStart of year $100,000$0
X-32 Total net assets or fund balancesStart of year $216,677$199,429
X-33 Total liabilities and net assetsStart of year $1,815,926$1,791,740
Part XI · Reconciliation of net assets $199,429 net assets at year end
XI-1 Total revenue$429,822
XI-2 Total expenses$447,070
XI-3 Revenue less expenses−$17,248
XI-4 Net assets at start of year$216,677
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$199,429

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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