2023-11-13T17:02:05-06:00 2022-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2022-01-01 237293380 THE SOMERVILLE COMMUNITY CORPORATION INC SOME 6177765931 337 SOMERVILLE AVENUE 2ND FLOOR SOMERVILLE MA 02143 GONZALO PUIGBO CHIEF EXECUTIVE OFFICER 6177765931 2023-11-08 1 GONZALO PUIGBO XXX-XX-XXXX 1 JUSTIN K LEROUX CPA P01722988 5083669100 2023-11-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z GONZALO PUIGBO 337 SOMERVILLE AVENUE 2ND FLOOR SOMERVILLE MA 02143 5675548 0 X WWW.SOMERVILLECDC.ORG X 1969 MA THE SOMERVILLE COMMUNITY CORPORATION (SCC) IS A MEMBERSHIP ORGANIZATION THAT PROVIDES LEADERSHIP FOR SUSTAINING THE CITY OF SOMERVILLE AS A VIBRANT, DIVERSE AND TOLERANT COMMUNITY. WE OFFER SERVICES AND LEAD COMMUNITY ORGANIZING THAT SUPPORTS LOW- AND MODERATE-INCOME SOMERVILLE RESIDENTS IN THEIR EFFORTS TO ACHIEVE ECONOMIC SUSTAINABILITY AND INCREASE CIVIC PARTICIPATION. 15 15 18 46 0 0 1463185 719844 2859204 3705167 2757 -211830 133045 280963 4458191 4494144 0 0 0 0 1029215 1240114 0 0 118662 3904942 4312220 4934157 5552334 -475966 -1058190 51767893 52165073 53900210 55355580 -2132317 -3190507 X THE SOMERVILLE COMMUNITY CORPORATION (SCC) IS A MEMBERSHIP ORGANIZATION THAT PROVIDES LEADERSHIP FOR SUSTAINING THE CITY OF SOMERVILLE AS A VIBRANT, DIVERSE AND TOLERANT COMMUNITY. WE OFFER SERVICES AND LEAD COMMUNITY ORGANIZING THAT SUPPORTS LOW- AND MODERATE-INCOME SOMERVILLE RESIDENTS IN THEIR EFFORTS TO ACHIEVE ECONOMIC SUSTAINABILITY AND INCREASE CIVIC PARTICIPATION. 0 0 3710546 3705167 RENTAL PROGRAMS - SIX OF SCC'S RENTAL HOUSING DEVELOPMENTS ARE OWNEDDIRECTLY BY SCC: THE 12 ONE AND TWO-BEDROOM UNITS AT 110 WALNUTSTREET; THE 6 THREE-BEDROOOM UNITS AT 190 GILMAN STREET; THE 18 TWO,THREE AND FOUR BEDROOM UNITS AT 33 BOW STREET; THE 14 SINGLE ROOMOCCUPANCY UNITS ON SEWALL STREET; THE 42 UNITS AT LINDEN STREET APARTMENTS; AND THE 8 ONE AND TWO-BEDROOM UNITS AT 75 CROSS STREET. ALL OF SCC'S RENTAL PROPERTIES, INCLUDING 165 UNITS OWNED THROUGH LLC'S, ARE MANAGED BY WINGATE MANAGEMENT COMPANY, UNDER CONTRACT WITH SCC. 706362 280963 HOUSING DEVELOPMENT - SCC DEVELOPS AND PRESERVES AFFORDABLE RENTAL AND OWNERSHIP UNITS AND COMMERCIAL SPACE IN SOMERVILLE TO MAINTAIN AND STRENGTHEN THE SOCIOECONOMIC DIVERSITY OF THE CITY. IN TOTAL SCC MANAGES 121 SCATTERED SITE AFFORDABLE UNITS DIRECTLY, WHILE CONTRACTING WITH A THIRD-PARTY PROPERTY MANAGER TO MANAGE ANOTHER 219 UNITS IN LARGER MULTIFAMILY PROPERTIES.HIGHLIGHTS FROM THE REAL ESTATE DEVELOPMENT TEAM IN 2022 INCLUDE: -COMPLETED THE CLOSING OF ALL UNITS ON 163 GLEN STREET CONDOMINIUMS AND ADDED 8 AFFORDABLE HOMEOWNERSHIP HOUSING UNITS.-CLOSED ON 184 BROADWAY STREET IN SEPTEMBER 2023 AND ADDED 4 MORE AFFORDABLE HOUSING UNITS TO OUR 100 HOMES PROGRAM.-CLOSED ON OUR CLARENDON HILL PROJECT IN DECEMBER 2022 AND ADDED 80 NEW AFFORDABLE HOUSING UNITS. 522252 ECONOMIC OPPORTUNITY - SCC WORKS TO PRESERVE THE CITY'S SOCIAL, ECONOMIC AND CULTURAL DIVERSITY AND COUNTERS YEARS OF UNEQUAL OPPORTUNITY BY OFFERING PROGRAMS AND SERVICES FOCUSED ON HELPING PEOPLE FIND GOOD LOCAL JOBS, ACHIEVE FINANCIAL STABILIZATION AND SUSTAINABILITY, AND MAKE THE DREAM OF AFFORDABLE HOMEOWNERSHIP A REALITY.IN 2022, THE ECONOMIC OPPORTUNITY TEAM HAD THE FOLLOWING ACHIEVEMENTS:-WE SERVED 274 JOB SEEKERS-WE WERE ABLE TO PLACE 52 JOB SEEKERS INTO NEW JOBS-SCC PROVIDED 31 WORKFORCE DEVELOPMENT CLASSES WITH 123 PARTICIPANTS-WE HAD 255 FUTURE HOMEBUYERS ATTEND OUR HOMEBUYER EDUCATION SEMINARS-WE PROVIDE FINANCIAL COUNSELLING TO 31 LOW INCOME FAMILIES 108192 COMMUNITY ORGANIZING - SCC HELPS TO MAKE SOMERVILLE MORE LIVABLE, SUSTAINABLE, AND INCLUSIVE BY INCREASING AND DIVERSIFYING HOUSING OPTIONS, AS WELL AS ORGANIZING IN THE COMMUNITY AROUND AFFORDABLE HOUSING POLICIES. IN 2022, WE ORGANIZED AROUND THE FOLLOWING INITIATIVES:-WE CONTINUE TO SUPPORT THE REAL ESTATE TRANSFER FEE IN HOPES OF PASSING THIS LOCAL RULE PETITION THAT CAN PROVIDE AFFORDABLE HOUSING FUNDS TO THE CITY OF SOMERVILLE-WE HAVE SUPPORTED EFFORTS WITH THE CITY'S OFFICE OF HOUSING STABILITY TO PROVIDE AFFORDABLE HOUSING UNITS FOR THE NEWLY CREATED MUNICIPAL RENTAL VOUCHER PROGRAM.-WE CONTINUE TO ADD OUR NAME TO SUPPORT TOPA (TENANT'S OPPORTUNITY AND PROTECTION ACT)-WE CREATED A RESIDENT ADVISORY COMMITTEE THAT SUPPORTS THE VOICES OF OUR RESIDENTS BY MEETING BI-MONTHLY WITH STAFF AND BOARD MEMBERS TO DISCUSS ISSUES AROUND THEIR RESIDENCY WITH SCC.-ASSISTED 20+ RESIDENTS WITH OBTAINING RENTAL ASSISTANCE 108192 5047352 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 17 0 1 18 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X GONZALO PUIGBO 6174109912 337 SOMERVILLE AVE SOMERVILLE MA 02143 GONZALO PUIGBO CEO 37.50 X 160000 0 4761 FRANNIE CHAN CONTROLLER 37.50 X 66925 0 1731 MARCIA KITTREDGE CONTROLLER (UNTIL 6/2022) 37.50 X 83243 0 5722 SILVANA DINKA PRESIDENT 2.00 X X 0 0 0 CASSANDRA ARNAUD VICE PRESIDENT 2.00 X X 0 0 0 STEPHANIE TOEWS-MOELING VICE PRESIDENT (UNTIL 2/2022) 2.00 X X 0 0 0 JAVIER BELLINI TREASURER 2.00 X X 0 0 0 KATHLEEN MCGILVRAY CLERK 2.00 X X 0 0 0 EZRA HABER GLEN DIRECTOR 2.00 X 0 0 0 MICHELLE APIGIAN DIRECTOR 2.00 X 0 0 0 NATACHA THEODORE DIRECTOR 2.00 X 0 0 0 MARJORIE JACQUES THERMIDOR DIRECTOR 2.00 X 0 0 0 MULUGETA ZEGEYE DIRECTOR 2.00 X 0 0 0 NANCY HOGAN DIRECTOR 2.00 X 0 0 0 JARELIS FONSECA DIRECTOR 2.00 X 0 0 0 MARCUS MELLO DIRECTOR 2.00 X 0 0 0 JHENNY SAINT-SURIN DIRECTOR 2.00 X 0 0 0 IGNACIO CARDONA DIRECTOR 2.00 X 0 0 0 ERIKA C JOHNSON ESQ DIRECTOR 2.00 X 0 0 0 KATHLEEN EVANS DIRECTOR (UNTIL 2/2022) 2.00 X 0 0 0 MARIA TERESA RICOY DIRECTOR (UNTIL 2/2022) 2.00 X 0 0 0 VALERIE ZINKUS DIRECTOR (UNTIL 2/2022) 2.00 X 0 0 0 310168 0 12214 1 0 1 0 0 35483 200892 483469 719844 RENTAL INCOME 532000 3197254 3197254 TENANT SERVICES 532000 285845 285845 DEVELOPER FEES 532000 222068 222068 3705167 4574 4574 965000 1181404 -216404 -216404 -216404 MISCELLANEOUS 900099 280963 280963 280963 4494144 3986130 0 -211830 322382 182117 102865 37400 751560 648865 69957 32738 1501 1472 14 15 110154 84186 7831 18137 54517 38418 11208 4891 42762 42762 56448 28271 28177 78700 18700 60000 367265 319157 33993 14115 65810 45803 17992 2015 2272601 2240226 25999 6376 18066 14038 3209 819 916864 893731 21595 1538 LOSS ON INSURANCE CLAIM 286546 286546 BAD DEBTS 165537 165537 MISCELLANEOUS 41361 37263 3480 618 DEFERRED INTEREST 260 260 5552334 5047352 386320 118662 315666 472718 25624 25667 253706 135364 231480 300456 110378 112064 51941715 5357005 46979931 46584710 3851108 4534094 51767893 52165073 1073217 1048880 42605672 43320009 10221321 10986691 53900210 55355580 X -2238805 -3207675 106488 17168 -2132317 -3190507 51767893 52165073 -1058190 0 X X 0 1 X 1 1 1 X 1544410 1302497 1043454 1463185 719844 6073390 1544410 1302497 1043454 1463185 719844 6073390 99702 5973688 1575 5972 6706 2757 4574 21584 6094974 13419443 0.98010 0.96900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16572071 16572071 35266343 5357005 29909338 103301 103301 46584710 PROJECTS UNDER DEVELOPMENT 2156976 DUE FROM RELATED PARTIES 381628 RESTRICTED CASH 1237715 RIGHT-OF-USE LEASE ASSETS 757775 4534094 CONDITIONAL GRANT ADVANCE 10221321 LEASE LIABILITY 765370 10986691 X PART X, LINE 2: THE CORPORATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATING FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE CORPORATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATING FINANCIAL STATEMENTS AT DECEMBER 31, 2022. X 0 0 0 0 0 0 0 0 0 GONZALO PUIGBO CEO 160000 0 0 0 0 0 3200 0 1561 0 164761 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 SCC'S MEMBERS HAVE THE RIGHT TO ELECT BOARD MEMBERS AND VOTE FOR THE OFFICERS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A SCC HAS MEMBERS WHO MAY ELECT MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO SCC'S BYLAWS ARE MADE BY THE BOARD OF DIRECTORS AND SUBJECT TO THE APPROVAL OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B EACH BOARD MEMBER RECEIVES ELECTRONIC AND HARD COPIES OF THE FORM 990, AND IS GIVEN THE OPPORTUNITY TO RAISE QUESTIONS AND SEEK CLARIFICATION IN ADVANCE OF THE FINAL BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C ALL SENIOR MANAGERS AND BOARD MEMBERS ARE REQUIRED TO SIGN AND DISCLOSE ANY CONFICT OF INTEREST ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE SCC EXECUTIVE COMMITTEE, LED BY THE BOARD VICE PRESIDENT, CONDUCTS AN ANNUAL REVIEW OF THE CEO'S PERFORMANCE, INCLUDING AN ASSESSMENT OF SALARY AND CONSIDERATION FOR ADDITIONAL COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO PROCEDURAL CHANGES IN HOW THE FINANCE COMMITTEE SELECTS ITS INDEPENDENT ACCOUNTANT. 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