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Fields Corner Housing Corporation

Tax-deductible

Dorchester, MA501(c)(3)Housing EIN 04-3490920Revenue $276K in FY2024

On file with the IRSvietaid.org42 Charles Street, 02122-1441 · Dorchester, MATax-exempt since Feb 2002Supporting organization — 509(a)(3)

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Fields Corner Housing Corporation was founded in 1999 to provide affordable Housing to residents in the Fields Corner neighborhood of the city of boston.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Run by 9 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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 6
filings with a surplus
Average deficit $54K a year · 18% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5.8M
124% of total assets
Concern: liabilities are 124% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$276K
+30% vs prior year
Spent
$314K
To programs
97%
Net assets
−$1.1M
By yearFY2019–FY2024
Revenue
$276K
FY2024▲ +30%
Tap a bar for its year
Revenue by fiscal year
FY2019$221K
FY2020$669K
FY2021$218K
FY2022$217K
FY2023$212K
FY2024$276K
Expenses
$314K
FY2024▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2019$259K
FY2020$229K
FY2021$736K
FY2022$275K
FY2023$324K
FY2024$314K
Net assets
−$1.1M
FY2024▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2019−$817K
FY2020−$377K
FY2021−$895K
FY2022−$953K
FY2023−$1.1M
FY2024−$1.1M

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2002.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $306K Management & general 3% · $8K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
John Ho
Co-Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Theresa Tran
Member (as of 2024)
$0Pt VII · Sec A
See Fields Corner Housing Corporation 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

Develops and manages affordable housing for Boston's Fields Corner residents.

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Provided by the organization

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1 program · $306K · in their own filed words · FY2024
01

To provide affordable housing to low and moderate income in the fields corner and greater dorchester area

$306Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$276K
Ln 12
Fees for servicesLn 2g$273K
Other incomeLn 4–11$2K
Investment incomeLn 3$940
Money outPt IX
$314K
Ln 25
Programscol B$306K
Managementcol C$8K
Owns and owesPt X
−$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$147K
Total assetsLn 16$4.7M
LiabilitiesLn 26$5.8M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$273K
Investment incomeLn 3$940
Other incomeLn 4–11$2K
Total revenueLn 12$276K
Assets in detailPt X, end of year
CashLn 1$130K
SavingsLn 2$17K
Cash and savings togetherLn 1–2$147K
Land, buildings, equipmentLn 10c$1.7M
Other assetsLn 15$2.8M
Total assetsLn 16$4.7M
LiabilitiesLn 26$5.8M
Net assetsLn 32−$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
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 FY24End FY24
Cash and savingsLn 1–2$222K$147K
Land, buildings, equipmentLn 10c$1.8M$1.7M
Total assetsLn 16$4.2M$4.7M
LiabilitiesLn 26$5.3M$5.8M
Net assetsLn 32−$1.1M−$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$11K$11K
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$72K$72K
Office expensesLn 13$22K$22K
OccupancyLn 16$88K$88K
InterestLn 20$10K$10K
Depreciation, depletion and amortizationLn 22$74K$74K
Other expenses (24a–d)Ln 24$20K$20K
Total functional expensesLn 25$314K$306K$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $276K$314K−$37K−$1.1M 990 PDF
FY2023 $212K$324K−$112K−$1.1M 990 PDF
FY2022 $217K$275K−$58K−$953K 990 PDF
FY2021 $218K$736K−$518K−$895K 990 PDF
FY2020 $669K$229K$440K−$377K 990 PDF
FY2019 $221K$259K−$38K−$817K 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 FY2024 990 (6 parts)
Part I · Summary $276,402 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $208,013$273,053
I-10 Investment incomePrior year $855$940
I-11 Other revenuePrior year $3,154$2,409
I-12 Total revenuePrior year $212,022$276,402
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 $324,149$313,724
I-18 Total expensesPrior year $324,149$313,724
I-19 Revenue less expensesPrior year −$112,127−$37,322
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $276,402 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $273,053$273,053
VIII-3 Investment incomeExcluded from tax $940$940
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,409$2,409
VIII-12 Total revenueRelated to mission $275,462 · Unrelated business $0 · Excluded from tax $940$276,402
Part IX · Statement of functional expenses $313,724 across 9 lines filed
IX-11a Management feesPrograms $10,843$10,843
IX-11b Legal feesPrograms $9,516$9,516
IX-11c Accounting feesManagement $8,106$8,106
IX-11g Other fees for servicesPrograms $71,877$71,877
IX-13 Office expensesPrograms $21,745$21,745
IX-16 OccupancyPrograms $88,027$88,027
IX-20 InterestPrograms $9,898$9,898
IX-22 Depreciation, depletion and amortizationPrograms $74,131$74,131
IX-24 Other expenses (24a–d)Programs $19,581$19,581
IX-25 Total functional expensesPrograms $305,618 · Management $8,106 · Fundraising $0$313,724
Part X · Balance sheet $4,688,498 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $221,663$129,640
X-2 Savings and temporary cash investments$16,897
X-4 Accounts receivableStart of year $36,753$32,936
X-9 Prepaid expenses and deferred chargesStart of year $5,465$5,749
X-10c Land, buildings and equipment, netStart of year $1,767,108$1,702,054
X-15 Other assetsStart of year $2,210,280$2,801,222
X-16 Total assetsStart of year $4,241,269$4,688,498
X-17 Accounts payable and accrued expensesStart of year $360,244$475,928
X-25 Other liabilitiesStart of year $2,139,784$2,517,821
X-26 Total liabilitiesStart of year $5,306,310$5,790,861
X-27 Net assets without donor restrictionsStart of year −$1,065,041−$1,102,363
X-32 Total net assets or fund balancesStart of year −$1,065,041−$1,102,363
X-33 Total liabilities and net assetsStart of year $4,241,269$4,688,498
Part XI · Reconciliation of net assets −$1,102,363 net assets at year end
XI-1 Total revenue$276,402
XI-2 Total expenses$313,724
XI-3 Revenue less expenses−$37,322
XI-4 Net assets at start of year−$1,065,041
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,102,363

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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