Middlesex North Resource Center INC

Tax-deductible

Peabody, MA501(c)(3)Since 2008HousingEIN 22-3128809Revenue $1.2M in FY2025

On file with the IRSbridgewell.org10 Dearborn Road, 01960-8836 · Peabody, MATax-exempt since Apr 1992Supporting organization — 509(a)(3)

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Low income housing for the handicapped.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 1 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $102K a year · 9% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.7M
166% of total assets
Concern: liabilities are 166% of assets; over 80%.
Pt X · Ln 26
Independent board members
1
of 2 voting members
Fine: 1 of 2 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+4% vs prior year
Spent
$1.4M
To programs
91%
Net assets
−$1.1M
By yearFY2020–FY2025
Revenue
$1.2M
FY2025▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$903K
FY2021$945K
FY2022$1.1M
FY2023$1.2M
FY2024$1.2M
FY2025$1.2M
Expenses
$1.4M
FY2025▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$996K
FY2021$1.0M
FY2022$1.2M
FY2023$1.3M
FY2024$1.3M
FY2025$1.4M
Net assets
−$1.1M
FY2025▼ -20%
Tap a bar for its year
Net assets by fiscal year
FY2020−$643K
FY2021−$717K
FY2022−$797K
FY2023−$878K
FY2024−$899K
FY2025−$1.1M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1992.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $1.2M Management & general 9% · $125K

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 · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Vice Chair (also Sub Director)
$0Pt VII · Sec A
$0Pt VII · Sec A
Chief Financial Officer (until 12/24)
$0Pt VII · Sec A
Chief Operational Officer
$0Pt VII · Sec A
Chief Financial Officer (as of 1/25)
$0Pt VII · Sec A
See Middlesex North Resource Center 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

Provides affordable housing for people with disabilities.

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Provided by the organization

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1 program · $1.2M · in their own filed words · FY2024
01

Low income housing for the handicapped.

$1.2Mprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$1.1M
Other incomeLn 4–11$125K
Money outPt IX
$1.4M
Ln 25
Programscol B$1.2M
Managementcol C$125K
Owns and owesPt X
−$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$519K
Total assetsLn 16$1.6M
LiabilitiesLn 26$2.7M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.1M
Other incomeLn 4–11$125K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$519K
Cash and savings togetherLn 1–2$519K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$1.6M
LiabilitiesLn 26$2.7M
Net assetsLn 32−$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 61
Fiscal year endsHeaderJune
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 FY25End FY25
Cash and savingsLn 1–2$392K$519K
Land, buildings, equipmentLn 10c$1.2M$1.1M
Total assetsLn 16$1.6M$1.6M
LiabilitiesLn 26$2.5M$2.7M
Net assetsLn 32−$899K−$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$3K$3K
Office expensesLn 13$125K$125K
OccupancyLn 16$1.1M$1.1M
Depreciation, depletion and amortizationLn 22$100K$100K
Total functional expensesLn 25$1.4M$1.2M$125K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.2M$1.4M−$124K−$1.1M 990 PDF
FY2024 $1.2M$1.3M−$111K−$899K 990 PDF
FY2023 $1.2M$1.3M−$97K−$878K 990 PDF
FY2022 $1.1M$1.2M−$97K−$797K 990 PDF
FY2021 $945K$1.0M−$90K−$717K 990 PDF
FY2020 $903K$996K−$93K−$643K 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 FY2025 990 (6 parts)
Part I · Summary $1,248,702 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,070,698$1,123,312
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $127,695$125,390
I-12 Total revenuePrior year $1,198,393$1,248,702
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 $1,308,898$1,372,370
I-18 Total expensesPrior year $1,308,898$1,372,370
I-19 Revenue less expensesPrior year −$110,505−$123,668
Part VI · Governance 1 of 2 board members independent, 1 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members1
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 $1,248,702 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,123,312$1,123,312
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $125,390$125,390
VIII-12 Total revenueRelated to mission $1,248,702 · Unrelated business $0 · Excluded from tax $0$1,248,702
Part IX · Statement of functional expenses $1,372,370 across 4 lines filed
IX-11g Other fees for servicesPrograms $2,883$2,883
IX-13 Office expensesManagement $125,390$125,390
IX-16 OccupancyPrograms $1,144,392$1,144,392
IX-22 Depreciation, depletion and amortizationPrograms $99,705$99,705
IX-25 Total functional expensesPrograms $1,246,980 · Management $125,390 · Fundraising $0$1,372,370
Part X · Balance sheet $1,630,496 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $392,157$518,654
X-10c Land, buildings and equipment, netStart of year $1,211,547$1,111,842
X-16 Total assetsStart of year $1,603,704$1,630,496
X-17 Accounts payable and accrued expenses$334
X-25 Other liabilitiesStart of year $732,558$934,002
X-26 Total liabilitiesStart of year $2,502,697$2,710,652
X-27 Net assets without donor restrictionsStart of year −$898,993−$1,080,156
X-32 Total net assets or fund balancesStart of year −$898,993−$1,080,156
X-33 Total liabilities and net assetsStart of year $1,603,704$1,630,496
Part XI · Reconciliation of net assets −$1,080,156 net assets at year end
XI-1 Total revenue$1,248,702
XI-2 Total expenses$1,372,370
XI-3 Revenue less expenses−$123,668
XI-4 Net assets at start of year−$898,993
XI-8 Prior period adjustments−$73,495
XI-9 Other changes in net assets$16,000
XI-10 Net assets at end of year−$1,080,156

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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