2022-11-14T12:44:33-06:00 2021-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2021-01-01 237293380 THE SOMERVILLE COMMUNITY CORPORATION INC SOME 6177765931 337 SOMERVILLE AVENUE 2ND FLOOR SOMERVILLE MA 02143 GONZALO PUIGBO CHIEF EXECUTIVE OFFICER 6177765931 2022-11-08 1 GONZALO PUIGBO XXX-XX-XXXX JUSTIN K LEROUX CPA P01722988 5083669100 2022-11-08 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z GONZALO PUIGBO 337 SOMERVILLE AVENUE 2ND FLOOR SOMERVILLE MA 02143 4458191 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. 12 12 21 45 0 0 1043454 1463185 2774400 2859204 6706 2757 69667 133045 3894227 4458191 20000 0 0 0 1274203 1029215 0 0 119910 3695985 3904942 4990188 4934157 -1095961 -475966 57620146 51767893 58965824 53900210 -1345678 -2132317 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 3262670 2859204 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 109 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; AND THE 8 ONE AND TWO-BEDROOM UNITS AT 75 CROSS STREET. ALL OF SCC'S RENTAL PROPERTIES, INCLUDING 161 UNITS OWNED THROUGH LLCS, ARE MANAGED BY WINGATE MANAGEMENT COMPANY, UNDER CONTRACT WITH SCC. THIS PROGRAM IS HIGHLY SUCCESSFUL IN PROVIDING HOUSING FOR RESIDENTS, HOWEVER THE DEPRECIATION ON THESE BUILDINGS IS $849,054 CAUSING A NON-CASH LOSS TO SCC. 583175 133045 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 117 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 TEAM'S 2021 ACCOMPLISHMENTS INCLUDE: -ADDING 8 ADDITIONAL AFFORDABLE UNITS TO OUR PORTFOLIO, DUE TO OUR ACQUISITION OF 35/37 LINDEN STREET AND REHAB OF 72 MARSHALL ST.-CLOSING SALES ON 6 OF THE 11 UNITS DEVELOPED AT 163 GLEN ST (WITH THE REMAINING UNITS SCHEDULED TO CLOSE IN THE FIRST QUARTER OF 2022).-ADDING A COMMUNITY ENGAGEMENT SPECIALIST TO THE PROPERTY MANAGEMENT TEAM TO PROVIDE A HIGHER LEVEL OF SERVICES AND ENGAGEMENT FOR THE RESIDENTS OF OUR PROPERTIESSCC'S REAL ESTATE WORK-IN-PROGRESS CURRENTLY INCLUDES SERVING AS A DEVELOPMENT PARTNER ON THREE LARGER MULTIFAMILY DEVELOPMENTS ACROSS THE CITY OF SOMERVILLE. THE LARGEST AND FURTHEST ALONG OF THESE IS THE REDEVELOPMENT OF CLARENDON HILL, AN EXISTING SOMERVILLE HOUSING AUTHORITY (SHA) SITE. SCC IS PARTNERING WITH SHA, PRESERVATION OF AFFORDABLE HOUSING (POAH), AND REDGATE TO DEVELOP 591 TOTAL UNITS OF NEW HOUSING: 216 AFFORDABLE HOUSING UNITS, 80 NEW MODERATE-INCOME UNITS, AND 295 NEW MARKET RATE UNITS. CONSTRUCTION ON THE AFFORDABLE UNITS IS EXPECTED TO BEGIN IN MID-2022. 447762 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 2021, THE ECONOMIC OPPORTUNITY TEAM HAD THE FOLLOWING ACHIEVEMENTS:FIRST SOURCE PROGRAM-SERVED 247 JOB SEEKERS-PLACED 73 JOB SEEKERS INTO NEW JOBS-HELD 58 JOB WORKSHOPS AND REACHED 433 JOB SEEKERS-AVERAGE STARTING WAGE AT INTAKE WAS $16.80-AVERAGE HIRED WAGE WAS $19.80ASSET BUILDING PROGRAM-HELD 11 HOMEBUYER EDUCATION SESSIONS WITH 410 PARTICIPANTS-312 OF THOSE PARTICIPANTS EARNED LESS THAN 80% HUD MEDIAN INCOME-HAD 52 ONE-ON-ONE INDIVIDUAL FINANCIAL COACHING SESSIONS ON TOPICS THAT INCLUDED FAIR HOUSING, BUDGETING, FINANCES, RENTAL ASSISTANCE AND MORE. 98283 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.-WE REGULARLY ORGANIZE TENANTS OF "EXPIRING USE" PROPERTIES TO ENSURE THAT RENTS STAY AFFORDABLE. WE HAVE LED EXPIRING USE CAMPAIGNS THROUGHOUT THE CITY AND HELPED TO PRESERVE MORE THAN 200 AFFORDABLE UNITS-WITH SUPPORT FROM THE CITY OF SOMERVILLE AND THE HOUSING OF OFFICE STABILITY, WE HAVE SUPPORTED EFFORTS TO PASS THE REAL ESTATE TRANSFER FEE AT A STATEWIDE LEVEL TO CONTINUE TO ENHANCE THE PRODUCTION OF AFFORDABLE HOUSING ACROSS THE STATE-WE CONTINUE TO ADD OUR NAME AND SUPPORT TO TOPA (TENANTS OPPORTUNITY PROTECTIONS ACT), WHICH IS LEGISLATION THAT SUPPORTS TENANTS IN HAVING "RIGHTS OF FIRST REFUSAL", WHEN A BUILDING IS GOING TO BE SOLD, THUS ELIMINATING UNNECESSARY DISPLACEMENT-EARLY DURING THE YEAR, WE SIGNED THE "GUARANTEED HOUSING STABILITY ACT" THAT CREATED AN EVICTION MORATORIUM, SO THAT FAMILIES COULD REMAIN IN THEIR HOMES DURING THE COVID-19 EPIDEMIC-LAUNCHED A COALITION WITH SEVERAL LOCAL AGENCIES, INCLUDING MAHA, IN SUPPORT OF ARPA FUNDING FOR FIRST TIME HOMEBUYERSCOMMUNITY ORGANIZING & TENANT OUTREACH HIGHLIGHTS ALSO INCLUDE:-ASSISTED 25 TENANTS WITH OBTAINING SUBSIDIZED HOUSING EMERGENCY RENTAL ASSISTANCE (SHERA)-KEPT 164 TENANTS CONTINUOUSLY INFORMED REGARDING THE CLARENDON HILL REDEVELOPMENT-REACHED THE LOCAL COMMUNITY AT EVENTS SUCH AS BOYNTON YARDS JOB FAIR, OKTOBERFEST, AND SOMERVILLE WINTER FARMERS MARKET-DELIVERED OVER 170 GIFT CARDS TO SUPPORT FAMILIES THROUGH THE HOLIDAY SEASON-FACILITATED THE DONATION OF OVER 200 POUNDS OF FOOD TO SOMERVILLE HOMELESS COALITION 98283 4391890 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 26 0 1 21 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X FRANNIE CHAN 6174109912 337 SOMERVILLE AVE SOMERVILLE MA 02143 GONZALO PUIGBO CEO 37.50 X 160000 0 0 MARCIA KITTREDGE CONTROLLER 37.50 X 92144 0 6259 KATHY MCGILVRAY PRESIDENT 2.00 X X 0 0 0 STEPHANIE TOEWS-MOELING VICE-PRESIDENT 2.00 X X 0 0 0 CASSIE ARNAUD TREASURER 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 SILVANA DINKA DIRECTOR 2.00 X 0 0 0 KATHLEEN EVANS DIRECTOR 2.00 X 0 0 0 MARIA TERESA RICOY 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 VALERIE ZINKUS DIRECTOR 2.00 X 0 0 0 VAN HARDY DIRECTOR (THROUGH 11/2021) 2.00 X 0 0 0 LAURIE GOLDMAN DIRECTOR (THROUGH 09/2021) 2.00 X 0 0 0 ROSE WHITE DIRECTOR (THROUGH 04/2021) 2.00 X 0 0 0 252144 0 6259 1 0 1 0 0 100000 937195 425990 1463185 RENTAL INCOME 532000 2652691 2652691 TENANT SERVICES 532000 206513 206513 2859204 2757 2757 MISCELLANEOUS 900099 67157 67157 INSURANCE PROCEEDS 900099 65888 65888 133045 4458191 2992249 0 2757 258403 135362 81202 41839 634625 532821 68157 33647 120 120 74342 56043 9879 8420 61725 47284 9135 5306 38137 38137 67021 59176 7845 156100 37400 118700 164216 132553 23754 7909 61411 44100 14643 2668 2338608 2272345 57452 8811 8473 1960 2902 3611 902878 879878 21431 1569 BAD DEBTS 105937 105937 MISCELLANEOUS 61944 48677 7137 6130 DEFERRED INTEREST 217 217 4934157 4391890 422357 119910 744618 315666 45578 25624 155812 253706 123019 231480 166500 106575 110378 51576373 4596442 44333868 46979931 11944176 3851108 57620146 51767893 730545 1073217 57962028 42605672 273251 0 10221321 58965824 53900210 X -1435678 -2238805 90000 106488 -1345678 -2132317 57620146 51767893 X -475966 -310673 X X 0 1 X 1 1 1 X 912598 1544410 1302497 1043454 1463185 6266144 912598 1544410 1302497 1043454 1463185 6266144 151066 6115078 27680 1575 5972 6706 2757 44690 6310834 10535768 0.96900 0.95160 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16258471 16258471 35228755 4596442 30632313 89147 89147 46979931 PROJECTS UNDER DEVELOPMENT 2331477 DUE FROM RELATED PARTIES 600937 RESTRICTED CASH 915694 DEPOSITS 3000 3851108 CONDITIONAL GRANT ADVANCE 10221321 10221321 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, 2021. X 0 0 0 0 0 0 0 0 0 GONZALO PUIGBO CEO 160000 0 0 0 0 0 0 0 0 0 160000 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 XI, LINE 9: TRANSFER OF NET ASSETS -310,673. 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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