2017-06-13T10:18:32-05:00 2016-12-31 042660283 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBOROUGH MA 01581 990 2016-01-01 042660283 THE NEIGHBORHOOD DEVELOPERS INC NEIG 6178891375 4 GERRISH AVENUE CHELSEA MA 02150 ANN HOUSTON EXECUTIVE DIRECTOR 6178891375 2017-06-12 1 MATTHEW TROIANO CPA P01263939 5083669100 2017-06-07 64.197.103.66 2017-06-12 10:22:55 ED P 51702C5426742AB760DD6EDCB5DBA7B565D2E2AB E389E89C54D8B2D0E67DFD5473BAB8CDEAF766EE 2016 2021-01-29 14:40:06Z ANN HOUSTON 4 GERRISH AVENUE CHELSEA MA 02150 3799928 0 X WWW.THENEIGHBORHOODDEVELOPERS.ORG X 1978 MA THE MISSION OF THE NEIGHBORHOOD DEVELOPERS, INC. (TND) IS TO BRING ITS CORE STRENGTHS - BUILDING HOMES, ENGAGING NEIGHBORS, AND FOSTERING ECONOMIC OPPORTUNITY - TO COMMUNITY PARTNERSHIPS THAT CREATE GREAT NEIGHBORHOODS WHERE ALL PEOPLE CAN THRIVE. TND IS A COMMUNITY DEVELOPMENT CORPORATION THAT SEEKS TO REVITALIZE DISTRESSED NEIGHBORHOODS AND TO FOSTER EQUITABLE COMMUNITY DEVELOPMENT IN CHELSEA AND REVERE MASSACHUSETTS AND NEIGHBORING COMMUNITIES. WE WERE FOUNDED IN 1978 AND FOR OUR FIRST 25 YEARS, AFFORDABLE HOUSING DEVELOPMENT WAS OUR PRIMARY AREA OF ACTIVITY. OVER TIME, WE LEARNED THAT WE NEEDED TO BROADEN OUR COMMUNITY DEVELOPMENT STRATEGIES TO ACHIEVE MEANINGFUL REVITALIZATION OF NEIGHBORHOODS. IN 2006, WE SHIFTED OUR EMPHASIS FROM BUILDING AFFORDABLE HOMES TO BUILDING VITAL NEIGHBORHOODS BY DEVELOPING A VISION AND MISSION THAT SUPPORTS AN INTEGRATED APPROACH TO OUR NEIGHBORHOOD REVITALIZATION EFFORTS. 12 12 30 284 0 0 2284264 1946559 2223906 1593084 -646217 228764 509412 31521 4371365 3799928 3275 4575 0 0 1595995 1721283 0 0 170762 3998177 2302407 5597447 4028265 -1226082 -228337 13971644 13304162 3834842 3395697 10136802 9908465 X THE MISSION OF THE NEIGHBORHOOD DEVELOPERS, INC. IS TO BRING ITS CORE STRENGTHS - BUILDING HOMES, ENGAGING NEIGHBORS, AND FOSTERING ECONOMIC OPPORTUNITY - TO COMMUNITY PARTNERSHIPS THAT CREATE GREAT NEIGHBORHOODS WHERE ALL PEOPLE CAN THRIVE. TND EMPLOYS THREE INVESTMENT STRATEGIES TO BUILD VIBRANT AND SUSTAINABLE NEIGHBORHOODS: REAL ESTATE DEVELOPMENT TO STRENGTHEN HOUSING MARKETS AND TO EXPAND AFFORDABLE HOUSING INVENTORY; COMMUNITY ENGAGEMENT TO FOSTER A RESILIENT SOCIAL FABRIC AND CIVIC INFRASTRUCTURE; AND FINANCIAL CAPABILITIES TO INCREASE FAMILY PROSPERITY, DELIVERED IN COLLABORATION WITH OUR CONNECT PARTNERS. 0 0 1462910 1191309 PRODUCTION OF AFFORDABLE HOMES - HOMES FORM THE FOUNDATION FOR A HEALTHY FAMILY BY PROVIDING A SECURE PLACE TO LIVE AND OFFERING READY ACCESS TO JOBS, SCHOOLS AND LOCAL AMENITIES. THE DEVELOPMENT OF NEW AND IMPROVED HOMES IS A TANGIBLE STRATEGY FOR STIMULATING A NEIGHBORHOOD'S REVITALIZATION AND CHANGING PEOPLE'S PERCEPTION OF A NEIGHBORHOOD'S CHARACTER. WHILE TND PRIMARILY BUILDS AFFORDABLE MULTI-FAMILY AND SUPPORTIVE HOUSING, CORE TO OUR MISSION IS CREATING MIXED-INCOME HOMES THAT STRENGTHEN HOUSING MARKETS AND SUPPORT INCOME DIVERSITY WITHIN A NEIGHBORHOOD. OUR HOMES ARE DESIGNED TO FOSTER COMMUNITY CONNECTIONS AND SUSTAINABILITY. AS RESPONSIBLE STEWARDS, TND MAINTAINS SUPPORTIVE AND GREEN HOMES THAT CONTRIBUTE TO FAMILY AND NEIGHBORHOOD WELL-BEING. DURING 2016, TND COMPLETED CONSTRUCTION OF 91 UNITS: 39 NEW UNITS AND A REFINANCE AND REHAB OF 52 UNITS. 904449 4575 0 FINANCIAL CAPABILITIES AND CONNECT -STABLE AND SUFFICIENT INCOME ENABLES A FAMILY TO THRIVE AND ENVISION A BETTER FUTURE FOR THEMSELVES AS THE FOUNDER AND LEAD AGENCY OF CONNECT, WE HAVE ESTABLISHED A NATIONALLY RECOGNIZED FINANCIAL OPPORTUNITY CENTER WHERE FIVE PARTNERS PROVIDE EMPLOYMENT PLACEMENT, SKILL DEVELOPMENT, INCOME STABILIZATION, AND FINANCIAL CAPABILITY SERVICES. AT THE CONNECT CENTER, TND DELIVERS FINANCIAL EDUCATION, BENEFITS SCREENING AND FINANCIAL CAPABILITIES PROGRAMMING. CONNECT'S RESULTS SHOW THAT FAMILIES OF LOW INCOME ARE MORE LIKELY TO MAKE FINANCIAL GAINS WITH INTEGRATED AND BUNDLED SERVICES. OF 280 COACHED CLIENTS IN 2016, THE MEDIAN GAIN TO NET INCOME WAS $567 PER MONTH, WHILE CREDIT SCORES IMPROVED BY 64 POINTS. AS THE LEAD AGENCY OF CONNECT, TND PROVIDES CONNECT'S FACILITY, COORDINATES INTEGRATED MULTI-PARTY SERVICE DELIVERY AND MANAGES THE PROGRAM'S DATA COLLECTION AND EVALUATION. IN 2016, OVER 4,000 HOUSEHOLDS BENEFITTED FROM CONNECT'S PROGRAMMING. 478496 96847 COMMUNITY ENGAGEMENT - TND FOSTERS COMMUNITY RELATIONSHIPS AND LEADERSHIP, AS THEY ARE THE UNDERPINNINGS OF PRODUCTIVE SOCIAL NETWORKS AND ORGANIZATIONS. CIVIC ENGAGEMENT AND THOUGHTFUL PLANNING EFFORTS BETTER ALIGN COMMUNITY SERVICES AND RESOURCES WITH COMMUNITY PRIORITIES TO IMPROVE THE QUALITY OF LIFE FOR THE COMMUNITY AS A WHOLE. IN 2016, 184 KEY LEADERS AND STAFF MOBILIZED 1425 UNIQUE INDIVIDUALS TO JOIN COMMUNITY BUILDING AND CIVIC ENGAGEMENT ACTIVITIES. 255789 CHELSEA THRIVES - ACROSS THE NATION, THE COMMUNITY DEVELOPMENT SECTOR IS EMBRACING CROSS-SECTOR, MULTI-PARTY COLLABORATION TO TACKLE COMPLEX ISSUES USING EVIDENCE-BASED, DATA-DRIVEN AND INTEGRATED CROSS-SECTOR SOLUTIONS. IN MASSACHUSETTS, THE FEDERAL RESERVE BANK OF BOSTON LAUNCHED THE WORKING CITIES CHALLENGE TO ADVANCE COLLABORATIVE LEADERSHIP IN SUPPORT OF AMBITIOUS SYSTEMS-CHANGING WORK TO IMPROVE THE LIVES OF LOW-INCOME PEOPLE IN OUR STATE'S SMALL AND MEDIUM-SIZED CITIES. CHELSEA'S WORKING CITIES PROJECT, CHELSEA THRIVES, IS GROUNDED IN A COLLECTIVE IMPACT APPROACH IN WHICH 30 OF CHELSEA'S LEADING PRIVATE AND PUBLIC SECTOR INSTITUTIONS ARE WORKING CLOSELY WITH RESIDENTS TO POOL AND COORDINATE RESOURCES AND ACTIVITIES AROUND SHARED COMMUNITY SAFETY GOALS.TND PLAYS THE ROLE OF PROJECT BACKBONE, FACILITATING CROSS-SECTOR PROGRAM INTEGRATION. 354787 385939 RENTAL (PROVISION OF AFFORDABLE HOMES) - SINCE 2005, OUR HOUSING PORTFOLIO HAS INCREASED FROM 110 TO 389 UNITS; 96% OF OUR APARTMENTS BENEFIT HOUSEHOLDS EARNING 60% OR LESS OF THE AREA MEDIAN INCOME. TND HOUSES FORMERLY HOMELESS VETERANS AND FAMILIES, YOUNG MOTHERS, SENIORS, DISABLED INDIVIDUALS AND LOW- AND MODERATE-INCOME HOUSEHOLDS. THE RENTAL PROGRAM EXPENSES REFLECTED IN THIS INFORMATIONAL RETURN ONLY INCLUDE 29 OF THE UNITS NOTED ABOVE. 610576 385939 3456431 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 1 1 1 1 0 0 1 40 0 1 30 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 MA X X KRYSTYNA DOUGERT 6178891375 4 GERRISH AVENUE CHELSEA MA 02150 TECHROSETTE LENG VICE PRESIDENT 1.00 0.00 X X 0 0 0 PETER HOLLANDS DIRECTOR 1.00 0.00 X 0 0 0 DIMPLE RANA DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM H WILLIS SECRETARY 1.00 1.00 X X 0 0 0 MICHAEL MARTIN DIRECTOR 1.00 1.00 X 0 0 0 CHARLENE BAUER PRESIDENT 1.00 1.00 X X 0 0 0 KRISTEN JANJAR DIRECTOR 1.00 0.00 X 0 0 0 FAYE DOOKHERON DIRECTOR 1.00 0.00 X 0 0 0 DAKEYA CHRISTMAS DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM MORRISON TREASURER 1.00 0.00 X X 0 0 0 ALICE MURILLO DIRECTOR 1.00 0.00 X 0 0 0 BOB UPTON DIRECTOR 1.00 0.00 X 0 0 0 ANN HOUSTON EXECUTIVE DIRECTOR 45.00 1.00 X 150471 0 31430 KRYSTYNA DOUGERT CHIEF FINANCIAL OFFICER 45.00 1.00 X 53546 0 4779 204017 0 36209 1 0 1 0 KLEIN HORNIG LLP 101 ARCH STREET 1101 BOSTON MA 02110 LEGAL 256110 ACCOUNTING MANAGEMENT SOLUTIONS INC 800 SOUTH STREET WALTHAM MA 02453 BOOKKEEPING 143121 UTILE INC 115 KINGSTON STREET BOSTON MA 02021 ARCHITECTS 132345 NANCY TURNER 715 EAST ROAD WAITSFIELD VT 05673 FUNDRAISING 100602 4 114946 733873 1097740 1946559 FEES & PROJECT REIMBUR 561700 1209344 1209344 RENTAL INCOME 531110 383740 383740 1593084 179274 179274 49490 0 49490 49490 49490 MISCELLANEOUS 900099 31521 31521 31521 3799928 1674095 0 179274 X 4575 4575 240226 178628 43408 18190 1191557 1109897 39851 41809 44150 41408 1219 1523 123760 117025 2710 4025 121590 109944 6490 5156 16647 16647 2437 2437 76140 2618 73522 724375 529094 117969 77312 195499 163730 22496 9273 333676 310451 18535 4690 22468 12220 9366 882 152435 134993 15205 2237 LOAN LOSS PROVISION 599795 599795 MISCELLANEOUS 145107 89141 50301 5665 LOSS ON NON-RECOVERABLE 30758 30758 BAD DEBTS 3070 3070 4028265 3456431 401072 170762 3729921 3029960 219540 288290 295122 445441 2944913 2635237 4594606 1193457 3542306 3401149 3239842 3504085 13971644 13304162 507602 477933 3310856 2896323 16384 21441 3834842 3395697 X 6739651 6871354 2054024 1882238 1343127 1154873 10136802 9908465 13971644 13304162 -228337 0 X X 0 1 X 1 1 1 X 1220652 1634954 2028322 2284264 1946559 9114751 1220652 1634954 2028322 2284264 1946559 9114751 498355 8616396 84791 101458 93451 93517 179274 552491 424346 16079 5342 509412 31521 986700 10653942 8919921 0.80880 0.80610 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 827500 827500 3699368 1153222 2546146 67738 40235 27503 3401149 PROJECTS UNDER DEVELOPMENT 342628 OTHER CURRENT ASSETS 8241 ESCROW ACCOUNTS 21680 DUE FROM RELATED PARTIES 2290517 INVESTMENTS IN AFFILIATES 841019 3504085 DUE TO RELATED PARTIES 21441 21441 X PART X, LINE 2: TND, INC. AND AFFILIATES ACCOUNT 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. TND, INC. AND AFFILIATES HAVE DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATING FINANCIAL STATEMENTS AT DECEMBER 31, 2016. HOWEVER, TND, INC. AND AFFILIATES ARE SUBJECT TO AUDIT BY TAX AUTHORITIES. X X X 1 NANCY TURNER 715 EAST ROAD WAITSFIELD VT 05673 FUNDRAISING 0 1946559 100602 100602 RACHEL VAN VOORHIS PO BOX 718 MATTAPOISETT MA 02739 FUNDRAISING 0 0 31478 31478 1946559 132080 132080 MA X 0 0 0 0 0 0 0 0 0 ANN HOUSTON EXECUTIVE DIRECTOR 150471 0 0 0 0 0 0 0 31430 0 181901 0 0 0 WILLIAM MORRISON BOARD OF DIRECTOR 7500 CONSULTING SERVICES 0 FORM 990, PART VI, SECTION A, LINE 6 CHANGES TO TND'S BYLAWS ARE MADE BY THE BOARD OF DIRECTORS AND SUBJECT TO THE APPROVAL OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A TND HAS MEMBERS WHO MAY ELECT MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PROVIDES A DRAFT OF THE TAX RETURN TO THE BOARD OF DIRECTORS OF THE ORGANIZATION FOR REVIEW. ALL DESIRED CHANGES ARE COMMUNICATED TO THE AUDITOR AND CONSIDERED FOR COMPLIANCE WITH RELEVANT TAX LAWS PRIOR TO BEING APPLIED AND THE TAX RETURN BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED WITH THE BOARD EACH YEAR AND THE BOARD SIGNS OFF. ANY NEW CONTRACTS ARE REVIEWED WITH THE CONFLICT OF INTEREST IN MIND. IF ANY POTENTIAL CONFLICT ARISES IT IS REPORTED TO THE BOARD FOR DISCUSSION AND REVIEW. IN ORDER TO AVOID THE REVIEW PROCESS, ANY POTENTIAL CONTRACTS THAT MAY PRESENT THIS PROBLEM ARE TYPICALLY NOT SERIOUSLY CONSIDERED. FORM 990, PART VI, SECTION B, LINE 15 A WRITTEN EVALUATION/REVIEW OF THE EXECUTIVE DIRECTOR IS PREPARED BY EACH OF THE BOARD MEMBERS AND PRESENTED TO THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE PROCESSES AND ASSESSES THE EVALUATIONS AND PROVIDES A RECOMMENDATION ON COMPENSATION TO THE BOARD. THE BOARD MAKES THE ULTIMATE DECISION AS TO COMPENSATION BY A FULL VOTE. THE RECOMMENDATION IS BASED UPON PERFORMANCE AS WELL AS SALARY AND COMPENSATION DATA THAT IS COLLECTED FROM OTHER ORGANIZATIONS INVOLVED IN SIMILAR WORK AND ON A SIMILAR SCALE. THE CHIEF FINANCIAL OFFICER HAS AN ANNUAL PERFORMANCE REVIEW AS DO ALL EMPLOYEES. THE PERFORMANCE REVIEW IS PERFORMED BY THE EXECUTIVE DIRECTOR. SEVERAL FACTORS ARE TAKEN INTO CONSIDERATION, FEEDBACK AND OBSERVATIONS FROM THE BOARD AND THE FINANCE COMMITTEE. AN INCREASE IN SALARY IS GIVEN IF WARRANTED BY JOB PERFORMANCE AND IF THE ECONOMICS OF THE ORGANIZATION AND BUDGET ALLOW FOR IT. THE SALARY IS COMPARED WITH OTHERS IN THE INDUSTRY AND GEOGRAPHIC AREA. FORM 990, PART VI, SECTION C, LINE 18 FORM 990 IS AVAILABLE UPON REQUEST AT WWW.GUIDESTAR.ORG. TND'S FORM 1023 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, LINE 16B: TND'S POLICY OVER EVALUATING ITS PARTICIPATION IN JOINT VENTURE ARRANGEMENTS INVOLVES AN ASSESSMENT PERFORMED BY TND'S MANAGEMENT AND BOARD OF DIRECTORS TO ENSURE THE TERMS OF ANY POTENTIAL JOINT VENTURE RELATIONSHIP IS PERMITTED UNDER APPLICABLE FEDERAL TAX LAW AND TND'S EXEMPT STATUS IS BEING SAFEGUARDED. IN ADDITION, FORMAL OPERATING AND OTHER APPLICABLE AGREEMENTS ARE FORMALLY EXECUTED BY ALL PARTIES INVOLVED AND CLEARLY OUTLINE TND'S ROLE IN ALL JOINT VENTURE RELATIONSHIPS. FORM 990, PART IX, LINE 11G CONSULTING AND RENTAL CONTRACT LABOR: PROGRAM SERVICE EXPENSES 398,153. MANAGEMENT AND GENERAL EXPENSES 112,813. FUNDRAISING EXPENSES 73,492. TOTAL EXPENSES 584,458. CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 98,104. MANAGEMENT AND GENERAL EXPENSES 2,821. FUNDRAISING EXPENSES 1,996. TOTAL EXPENSES 102,921. PAYROLL PROCESSING: PROGRAM SERVICE EXPENSES 32,837. MANAGEMENT AND GENERAL EXPENSES 2,335. FUNDRAISING EXPENSES 1,824. TOTAL EXPENSES 36,996. FORM 990, PART XII, LINE 2C: THE FINANCE COMMITTEE COMPLETES A REVIEW OF THE 990. THE BOARD HAS VOTED UNANIMOUSLY TO ALLOW THE FINANCE COMMITTEE TO APPROVE THE 990. 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