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Shalom Properties FY2023 filing

Not tax-deductible

East Boston, MAMutual-benefit / member-servingEIN 04-3358724Revenue $468K in FY2023

On file with the IRSnoahcdc.org143 Border St, 02128-1903 · East Boston, MATax-exempt since May 1997

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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

FY2023 · 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: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.6M
90% of total assets
Concern: liabilities are 90% 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
$468K
+9% vs prior year
Spent
$483K
To programs
100%
Net assets
$184K
By yearFY2020–FY2024
Revenue
$468K
FY2023▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$493K
FY2021$945K
FY2022$430K
FY2023$468K
FY2024$522K
Expenses
$483K
FY2023▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$462K
FY2021$986K
FY2022$447K
FY2023$483K
FY2024$487K
Net assets
$184K
FY2023▼ -8%
Tap a bar for its year
Net assets by fiscal year
FY2020$257K
FY2021$217K
FY2022$199K
FY2023$184K
FY2024$219K

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 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% · $483K

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

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 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.

Questions for Shalom Properties

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Provided by the organization

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1 program · $483K · in their own filed words · FY2023
01

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

$483Kprogram 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 FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$468K
Ln 12
Fees for servicesLn 2g$457K
Investment incomeLn 3$8K
Other incomeLn 4–11$3K
Money outPt IX
$483K
Ln 25
Programscol B$483K
Owns and owesPt X
$184K
net assets · Ln 32
Cash and savingsLn 1–2$122K
Total assetsLn 16$1.8M
LiabilitiesLn 26$1.6M
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$457K
Investment incomeLn 3$8K
Other incomeLn 4–11$3K
Total revenueLn 12$468K
Assets in detailPt X, end of year
SavingsLn 2$122K
Cash and savings togetherLn 1–2$122K
Land, buildings, equipmentLn 10c$1.4M
Other assetsLn 15$206K
Total assetsLn 16$1.8M
LiabilitiesLn 26$1.6M
Net assetsLn 32$184K
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$98K$122K
Land, buildings, equipmentLn 10c$1.4M$1.4M
Total assetsLn 16$1.8M$1.8M
LiabilitiesLn 26$1.6M$1.6M
Net assetsLn 32$199K$184K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$25K
Legal feesLn 11b$300
Accounting feesLn 11c$17K
Other fees for servicesLn 11g$75K
Office expensesLn 13$2K
OccupancyLn 16$196K
InterestLn 20$38K
Depreciation, depletion and amortizationLn 22$57K
InsuranceLn 23$42K
Other expenses (24a–d)Ln 24$31K
Total functional expensesLn 25$483K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $522K$487K$35K$219K 990 PDF
FY2023 Viewing $468K$483K−$15K$184K 990 PDF
FY2022 $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 FY2023 990 (6 parts)
Part I · Summary $468,119 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $421,890$456,871
I-10 Investment incomePrior year $2,322$8,253
I-11 Other revenuePrior year $5,610$2,995
I-12 Total revenuePrior year $429,822$468,119
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 $447,070$483,121
I-18 Total expensesPrior year $447,070$483,121
I-19 Revenue less expensesPrior year −$17,248−$15,002
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 $468,119 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $456,871$456,871
VIII-3 Investment incomeExcluded from tax $8,253$8,253
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,995$2,995
VIII-12 Total revenueRelated to mission $459,866 · Unrelated business $0 · Excluded from tax $8,253$468,119
Part IX · Statement of functional expenses $483,121 across 10 lines filed
IX-11a Management fees$24,989
IX-11b Legal fees$300
IX-11c Accounting fees$17,000
IX-11g Other fees for services$75,354
IX-13 Office expenses$2,002
IX-16 Occupancy$196,040
IX-20 Interest$37,957
IX-22 Depreciation, depletion and amortization$56,541
IX-23 Insurance$42,074
IX-24 Other expenses (24a–d)$30,864
IX-25 Total functional expenses$483,121
Part X · Balance sheet $1,764,407 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $98,274$122,129
X-4 Accounts receivableStart of year $43,977$25,439
X-9 Prepaid expenses and deferred chargesStart of year $29,820$34,346
X-10c Land, buildings and equipment, netStart of year $1,400,351$1,376,407
X-15 Other assetsStart of year $193,011$206,086
X-16 Total assetsStart of year $1,791,740$1,764,407
X-17 Accounts payable and accrued expensesStart of year $67,150$71,957
X-25 Other liabilitiesStart of year $84,170$84,170
X-26 Total liabilitiesStart of year $1,592,311$1,579,980
X-27 Net assets without donor restrictionsStart of year $199,429$184,427
X-32 Total net assets or fund balancesStart of year $199,429$184,427
X-33 Total liabilities and net assetsStart of year $1,791,740$1,764,407
Part XI · Reconciliation of net assets $184,427 net assets at year end
XI-1 Total revenue$468,119
XI-2 Total expenses$483,121
XI-3 Revenue less expenses−$15,002
XI-4 Net assets at start of year$199,429
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$184,427

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

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