Lynn Housing Authority Development Group INC EIN 54-2084084

Lynn Housing Authority Development Group INC

EIN  54-2084084 Public charity (501(c)(3)) Lynn, MA
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Size
$100K–1M
What they do
Provides affordable housing through buying, selling, renting, and leasing homes.
Leadership
Stephen Martin · Chairperson
Money in and out
$406K revenue, $360K expenses
Bottom line
95% program efficiency

Provides affordable housing through buying, selling, renting, and leasing homes. For fiscal year 2024 it reported $406K in revenue, $360K in expenses, and $371K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$406K
Pt VIII · Ln 12
Total expenses
$360K
Pt IX · Ln 25
Net assets
$371K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $46K
Where spending went · Part IX cols B–D
Program services $0.95 Management & general $0.05
Program efficiency
95%
of spending reaches programs▼ -4% vs prior filing year
Operating runway
14.8mo
months of highly liquid reserves at operating expense rate▲ +128% vs prior filing year
Surplus margin
+11%
revenue over expenses, this year▲ +268% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$406K
FY2024▼ -38%
Expenses
$360K
FY2024▼ -48%
Total assets
$447K
FY2024▲ +7%
Total liabilities
$76K
FY2024▼ -17%
Total revenue
$406K
Pt VIII · Ln 12
Total expenses
$360K
Pt IX · Ln 25
Net assets
$371K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$46K
Total assetsPt X · Ln 16$447K
Program-expense ratioPt IX · col B95%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45
Mission & Programs · Part III

Where the work happens

3 program services account for $303K of program spending, described in the organization's own filed words · FY2024.
01

Project Rise/ Seimer Program

A collaboration with lynn public schools working with families experiencing housing instability and have at least one child in lynn public schools. This program offers case management and coaching towards a family's housing and education goals.

$173Kprogram expense
02

Financial Counseling

The financial coaching program is designed to help FAMILIES/INDIVIDUALS have a better understanding of one's finances, leading to financial stability. The financial coaching program provides regular one-on-one and workshop sessions with clients in order to guide clients to meet their goals and financial independence.

$86Kprogram expense
03

Homeless management information system (hmis) a program designed to centralize the homeless management information system (hmis) and to monitor the collection and submission of hmis program data for the emergency solution grant activities.

$43Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLynn Housing Authority Development Group INC
EINHdr · item D54-2084084
Principal addressHdr · item CLynn, MA
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L022)
Ruling yearIRS BMFFeb 2010

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$403K · 99%
Investment income$3K · 1%
Contributions & grants99%$403K
Investment income1%$3K
Other revenue$9
— government grantsLn 1e$50K
Total revenueLn 12$406K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.95 Management & general $0.05
Program services95%$342K
Management & general5%$19K
Total functional expensesLn 25$360K

Balance Sheet

Part X · end of year
CashLn 1$445K
Total assetsLn 16$447K
Total liabilitiesLn 26$76K
Total net assetsLn 32$371K
Months of cash on handcomputed14.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $445K · Operating expenses/yr $360K
14.8 months
Where the money goes
Program services
Program services $342K · Total expenses $360K
95%
Management & General
Management & general $19K · Total expenses $360K
5%
Fundraising
Fundraising $0 · Total expenses $360K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $343K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $403K · Total revenue $406K
99%
Government reliance
Government grants $50K · Total revenue $406K
12%
Earned-income share
Program service revenue $0 · Total revenue $406K
0%
Investment reliance
Investment income $3K · Total revenue $406K
+1%
Program self-sufficiency
Program service revenue $0 · Total expenses $360K
0%
Growth & trend
Revenue growth (YoY)
This year $406K · Prior year $650K
-38%
Revenue CAGR
FY2020 $907K · FY2024 $406K
-18%
Net-asset trend (YoY)
End of year $371K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $406K · Expenses $360K
+11%
Liabilities-to-Assets
Total liabilities — · Total assets $447K
Net-asset ratio
Net assets $371K · Total assets $447K
83%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $447K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Stephen Martin · Reported title CHAIRPERSON · Highest reported compensation $0 · Total expenses $360K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $360K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 95%
Overhead ratio 5%
Fundraising cost ratio 0%
Revenue growth -38%
Accounting fee ratio 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$273K
Grants paid · 35 grants · $2.3M · 2020–2024
Lynn Public SchoolsFY2024$73,519
Unitemized GrantFY2024$26,431
Unitemized GrantFY2024$8,060
Unitemized GrantFY2024$4,647
Unitemized GrantFY2024$2,000
Unitemized GrantFY2024$1,887
Unitemized GrantFY2023$267,370
Lynn Public SchoolsFY2023$75,736
Unitemized GrantFY2023$49,957
Unitemized GrantFY2023$41,740
Unitemized GrantFY2023$19,197
Unitemized GrantFY2023$15,460
Unitemized GrantFY2023$715
Unitemized GrantFY2022$283,751
Unitemized GrantFY2022$125,014
Northeast Legal Aid INCMA · FY2022$124,000
Lynn Public SchoolsFY2022$88,364
Leo INCMA · FY2022$53,900
See all 35 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$406K revenue · viewing · ⤓ 990 PDF
FY2023$650K revenue · ⤓ 990 PDF
FY2022$1.1M revenue · ⤓ 990 PDF
FY2021$633K revenue · ⤓ 990 PDF
FY2020$907K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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