2015-11-03T12:37:48-06:00 2014-12-31 043938464 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2014-01-01 237293380 THE SOMERVILLE COMMUNITY CORPORATION INC SOME 6177765931 337 SOMERVILLE AVENUE 2ND FLOOR SOMERVILLE MA 02143 DANIEL LEBLANC CHIEF EXECUTIVE OFFICER 6177765931 2015-11-02 1 MATTHEW TROIANO CPA P01263939 5083669100 2015-10-23 2014 2016-03-07 17:11:31Z DANIEL LEBLANC 337 SOMERVILLE AVENUE 2ND FLOOR SOMERVILLE MA 02143 2432347 0 X WWW.SOMERVILLECDC.ORG X 1969 MA SOMERVILLE COMMUNITY CORPORATION (SCC) IS DEDICATED TO MAINTAINING DIVERSITY AND PRESERVING AFFORDABILITY IN SOMERVILLE BY BUILDING AND PRESERVING HOUSING, ORGANIZING FOR NECESSARY POLICIES AND FUNDING, AND GIVING RESIDENTS THE FINANCIAL SKILLS THEY NEED TO SURVIVE. 15 15 21 345 0 0 692643 878146 1154031 1445545 236 132 98077 108524 1944987 2432347 0 0 0 0 1212961 1145558 0 0 69304 1086185 1204254 2299146 2349812 -354159 82535 9405559 11440460 8023755 9976121 1381804 1464339 X SOMERVILLE COMMUNITY CORPORATION (SCC) IS DEDICATED TO MAINTAINING DIVERSITY AND PRESERVING AFFORDABILITY IN SOMERVILLE BY BUILDING AND PRESERVING HOUSING, ORGANIZING FOR NECESSARY POLICIES AND FUNDING, AND GIVING RESIDENTS THE FINANCIAL SKILLS THEY NEED TO SURVIVE. 0 0 657788 602351 RENTAL PROGRAMS - FIVE OF SCC'S RENTAL HOUSING DEVELOPMENTS ARE OWNED DIRECTLY BY SCC: THE 12 ONE AND TWO-BEDROOM UNITS AT 110 WALNUT STREET; THE 6 THREE-BEDROOOM UNITS AT 109 GILMAN STREET; THE 18 TWO, THREE AND FOUR BEDROOM UNITS AT 33 BOW STREET; THE 14 SINGLE ROOM OCCUPANCY UNITS ON SEWALL STREET; AND THE 8 ONE AND TWO-BEDROOM UNITS AT 75 CROSS STREET. SCC'S RENTAL PROPERTIES ARE MANAGED BY WINN RESIDENTIAL, UNDER CONTRACT WITH SCC. 549825 925248 HOUSING DEVELOPMENT - FOR A COMMUNITY TO BE SUSTAINABLE, THERE MUST BE HOUSING OPTIONS AVAILABLE TO PEOPLE OF ALL INCOME LEVELS. IN ORDER TO KEEP SOMERVILLE ECONOMICALLY DIVERSE, SCC BUILDS AFFORDABLE RENTAL HOUSING, CREATES HOMEOWNERSHIP OPPORTUNITIES, AND DEVELOPS RETAIL SPACES. SCC OWNS 184 AFFORDABLE RENTAL UNITS IN 7 SITES THROUGHOUT SOMERVILLE. SCC HAS PRODUCED OVER 100 UNITS OF AFFORDABLE HOMEOWNERSHIP, BEGINNING ITS DEVELOPMENT ACTIVITIES BY PURCHASING DILAPIDATED 1-3 FAMILY HOMES, REHABBING THEM, AND RESELLING THEM TO MODERATE AND LOW-INCOME BUYERS. MORE RECENTLY, SCC DEVELOPED TWO CONDOMINIUM PROJECTS WITH A TOTAL OF 23 UNITS BETWEEN 2001 AND 2006. IN EARLY 2014, SCC COMPLETED THE THIRD, AND FINAL PHASE OF NEW DEVELOPMENT. PROGRAM SERVICE ACCOMPLISHMENTS:24-UNITS OF AFFORDABLE RENTAL HOUSING AND 3 COMMERCIAL SPACES ON THE GROUND LEVEL; PHASE 2, COMPLETED IN EARLY 2012, PROVIDES AN ADDITIONAL 29 UNITS OF AFFORDABLE RENTAL HOUSING WITH A COMMUNITY ROOM, OPEN SPACE AND A PLAYGROUND; AND PHASE 3 CONSISTS OF AN ADDITIONAL 31 UNITS OF AFFORDABLE RENTAL HOUSING, BRINGING THE TOTAL OF NEW RENTAL HOUSING AT THE ENTIRE ST. POLYCARP VILLAGE TO 84 UNITS. IN EARLY 2012, SCC PURCHASED THE FORMER BOYS AND GIRLS CLUBS PROPERTY AT 181 WASHINGTON STREET. ZONING APPROVAL AND STATE SUBSIDY FUNDS WERE GRANTED IN 2014, CONSTRUCTION FINANCING CLOSED IN MAY 2015, AND GROUNDBREAKING IS TAKING PLACE JULY 2015. SCC IS CONSTRUCTING 35 AFFORDABLE RENTAL APARTMENTS AND GROUND LEVEL COMMERCIAL SPACE. IN ADDITION, SCC PURCHASED THE FORMER AMERICAN LEGION POST 388 AT 163 GLEN STREET IN 2014, AND RECEIVED ZONING APPROVAL TO RENOVATE THE FORMER LEGION BUILDING AND ADD TWO ADDITIONAL FLOORS TO CREATE A NEW 11-UNIT MIXED INCOME CONDOMINIUM DEVELOPMENT. CONSTRUCTION ON THAT DEVELOPMENT IS ANTICIPATED TO BEGIN FALL 2015. ALL OF SCC'S RENTAL PROPERTIES ARE MANAGED BY WINN RESIDENTIAL, UNDER CONTRACT WITH SCC. 304850 COMMUNITY ORGANIZING & PLANNING - SCC WORKS TO EMPOWER SOMERVILLE RESIDENTS TO BECOME ACTIVE LEADERS IN THE COMMUNITY. OUR MEMBERS ORGANIZE FOR AFFORDABLE HOUSING, LOCAL JOBS, AND GRASSROOTS PLANNING, AND HAVE THE OPPORTUNITY TO DEVELOP LEADERSHIP SKILLS THROUGH OUR ANNUAL LEADERSHIP DEVELOPMENT INSTITUTE. IN RECENT YEARS, SCC'S COMMUNITY ORGANIZING AND PLANNING WORK HAS LED TO (A) AN INCREASE IN THE HOUSING LINKAGE FEE FOR NEW COMMERCIAL DEVELOPMENT; (B) PASSAGE OF THE COMMUNITY PRESERVATION ACT IN SOMERVILLE; (C) THE CREATION OF A FIRST SOURCE JOBS PROGRAM IN SOMERVILLE; AND (D) THE ESTABLISHMENT OF A PATH BREAKING MEMORANDUM OF UNDERSTANDING AMONG WITH THE MBTA AND OTHER PARTNERS TO SECURE JOBS FOR LOCAL RESIDENTS IN THE CONSTRUCTION AND OPERATION OF THE MBTA'S GREEN LINE EXTENSION. 342362 MEDIATION PROGRAM - CREATING UNDERSTANDING AMONG PEOPLE AND PEACEFULLY RESOLVING CONFLICTS CONTINUES TO BE THE MISSION OF THE SOMERVILLE MEDIATION PROGRAM SINCE ITS START IN 1984. MEDIATION STAFF AND TRAINED VOLUNTEERS ACT AS NEUTRAL THIRD PARTIES AND ASSIST OTHERS IN REACHINGMUTUALLY SATISFACTORY AGREEMENTS. IN ADDITION TO SOMERVILLE HIGH SCHOOL, WE RECEIVE REFERRALS AND MEDIATE CASES FOR ALL OF THE ELEMENTARY SCHOOLS AND THE ALTERNATIVE SCHOOLS IN SOMERVILLE. OUR PRINCIPAL FOCUS FOR THE LAST 14 YEARS HAS BEEN ON VIOLENCE PREVENTION, AND WORKING WITH YOUNG PEOPLE TO TEACH THEM CONFLICT RESOLUTION SKILLS, RESPECT AND TOLERANCE. TO THIS END, WE ALSO CONDUCT WORKSHOPS IN THE ELEMENTARY SCHOOLS. EACH YEAR WE RECRUIT AND TRAIN 60 NEW STUDENT MEDIATORS DURING A 24-HOUR TRAINING PROGRAM. THESE STUDENTS JOIN OUR OTHER MEDIATORS, WHO BRING PEACE AND PREVENT VIOLENCE IN OUR SCHOOLS AND COMMUNITY EACH DAY. OUR PROGRAM MAINTAINS ITS MISSION OF HELPING OTHERS LIVE TOGETHER WITH TOLERANCE AND RESPECT THROUGH THE WORK OF PROFESSIONAL, DEDICATED STAFF AND VOLUNTEERS. 238468 26470 ASSET BUILDING - SCC'S ASSET BUILDING PROGRAMS SEEK TO PROVIDE SOMERVILLE RESIDENTS - RECENT IMMIGRANTS AND US-BORN INDIVIDUALS ALIKE - WITH THE NECESSARY KNOWLEDGE TO NAVIGATE THEIR FINANCIAL LIVES EFFECTIVELY AND SUCCESSFULLY. OUR ASSET BUILDING PROGRAMS INCLUDE: (A)FIRST TIME HOME BUYER CLASSES; (B)FINANCIAL EDUCATION CLASSES AND RELATED INDIVIDUAL FINANCIAL COUNSELING - TOPICS INCLUDE: 'BUDGETING': WHY, HOW, AND INDIVIDUALIZED BUDGETING; 'SAVING AND BUILDING WEALTH': BANKING PRODUCTS, INVESTMENTS, RETIREMENT, COLLEGE, AND INSURANCE; 'INTRODUCTION TO BANKING SERVICES': INFORMATION ABOUT CHECKING AND SAVING ACCOUNTS, INCLUDING HOW TO OPEN AN ACCOUNT; 'CREDIT': INTERPRETING CREDIT SCORES, AND UNDERSTANDING, ESTABLISHING AND REPAIRING CREDIT;(C)INDIVIDUAL DEVELOPMENT ACCOUNT MATCHED SAVINGS PROGRAMS; (D) FORECLOSURE PREVENTION, IN PARTNERSHIP WITH CAMBRIDGE NEIGHBORHOOD APARTMENT HOUSING SERVICES;(E)CAREER DEVELOPMENT AND "FIRST SOURCE" JOB CONNECTIONS BETWEEN LOCAL JOB-SEEKERS AND SOMERVILLE EMPLOYERS. 580830 26470 2093293 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 1 0 0 1 11 0 21 1 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 MARY ANN SCLAFANI 6177765931 337 SOMERVILLE AVE SOMERVILLE MA 02143 JANINE LOTTI DIRECTOR 2.00 X 0 0 0 GLENN MORGAN TREASURER 2.00 X X 0 0 0 FRED BERMAN DIRECTOR 2.00 X 0 0 0 BEATRICE KWAA DIRECTOR 2.00 X 0 0 0 JEANNETTE AMAZEEN-THOMAS CLERK 2.00 X X 0 0 0 MARY JO CONNELLY DIRECTOR 2.00 X 0 0 0 EZRA HABER GLENN DIRECTOR 2.00 X 0 0 0 CASSIE ARNAUD DIRECTOR 2.00 X 0 0 0 DIANE MACHADO DIRECTOR 2.00 X 0 0 0 ADAM RICH DIRECTOR 2.00 X 0 0 0 STEPHANIE TOEWS-MOELING PRESIDENT 2.00 X X 0 0 0 MULUGETA ZEGEYE DIRECTOR 2.00 X 0 0 0 VAN HARDY VICE PRESIDENT 2.00 X X 0 0 0 MARIA FLORES DIRECTOR 2.00 X 0 0 0 JILLIAN MOREIRA DIRECTOR 2.00 X 0 0 0 DANIEL LEBLANC CEO 37.50 X 92906 0 4851 ALICE COMACK DIRECTOR OF MEDIATION 37.50 X 103188 0 4965 196094 0 9816 1 0 0 0 0 468761 409385 878146 RENTAL INCOME 900099 701200 701200 DEVELOPER FEES 900099 623315 623315 MANAGEMENT FEES 900099 94560 94560 TENANT SERVICES 900099 26470 26470 1445545 132 132 MISCELLANEOUS 900099 83524 83524 INTEREST RECOVERY 900099 25000 25000 108524 2432347 1554069 0 132 97757 43991 34215 19551 802590 712588 58657 31345 11036 9632 776 628 163274 143780 11332 8162 70901 61201 4882 4818 29712 29712 12245 12245 42440 28640 13800 161900 136659 25241 97201 79647 15501 2053 531350 518059 13291 13408 8945 4128 335 169175 167749 1426 SUBSIDY REPAYMENT 102757 102757 MISCELLANEOUS 23192 16814 3966 2412 SCHOLARSHIPS 13142 13142 BAD DEBTS 7732 7732 2349812 2093293 187215 69304 106528 76782 121749 99073 80500 50250 108750 222583 166500 166500 22406 22857 7729585 1595155 6292906 6134430 2506220 4667985 9405559 11440460 223556 666107 7800199 9310014 8023755 9976121 X 1281304 1394089 100500 70250 1381804 1464339 9405559 11440460 82535 0 X 0 1 X 1 1 1 X 1468234 515577 1213184 692643 878146 4767784 1468234 515577 1213184 692643 878146 4767784 501466 4266318 180 5844 221 236 132 6613 44551 30202 253148 98077 108524 534502 5308899 5102115 0.80360 0.82380 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1267600 1267600 6315042 1459070 4855972 47452 47452 0 99491 88633 10858 6134430 PROJECTS UNDER DEVELOPMENT 4201728 DUE FROM RELATED PARTIES 177277 RESTRICTED CASH 288980 4667985 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, 2014. THE CORPORATION'S INFORMATION AND TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS AND GENERALLY REMAIN OPEN FOR THE MOST RECENT THREE YEARS. SHANNON ERB DAUGHTER OF CEO 44758 SALARY AND BENEFITS 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 11 EACH BOARD MEMBER REVIEWS THE FORM 990 AND APPROVES IT. 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 REVIEW AND APPROVAL FROM THE EXECUTIVE COMMITTEE AND/OR BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST WALNUT STREET APARTMENT LLC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 237293380 LOW INCOME HOUSING MA 219473 1843786 N/A 109 GILMAN STREET LLC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 237293380 LOW INCOME HOUSING MA 100910 1668321 N/A ST POLYCARP REDEVELOPMENT LLC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 237293380 LOW INCOME HOUSING MA 0 0 N/A SOMERVILLE HOMEOWNERSHIP LLC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 237293380 LOW INCOME HOUSING MA 0 0 N/A 75 CROSS STREET LLC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 273400323 LOW INCOME HOUSING MA 144910 2597418 N/A LINDEN STREET LIMITED PARTNERSHIP 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 043583069 LOW INCOME HOUSING MA 0 0 33 BOW STREET LIMITED PARTNERSHIP 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 043262929 LOW INCOME HOUSING MA 33 BOW STREET INC N/A -181882 1875623 0 0 0.99000 SAINT POLYCARP APARTMENTS LLC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 010905042 LOW INCOME HOUSING MA 0 0 SAINT POLYCARP APARTMENTS 2 LLC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 273443525 LOW INCOME HOUSING MA 0 0 SAINT POLYCARPS APARTMENTS 3 LLC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 383886850 LOW INCOME HOUSING MA 0 0 163 GLEN STREET LLC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 465076928 LOW INCOME HOUSING MA N/A N/A 0 0 0.51000 SAINT POLYCARP APARTMENTS MM LLC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 260743997 LOW INCOME HOUSING MA N/A C -1596 79 0.79000 1 LINDEN STREET DEVELOPMENT INC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 043582563 LOW INCOME HOUSING MA N/A C -867 789799 0.79000 1 33 BOW STREET INC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 043262934 LOW INCOME HOUSING MA N/A C -2195 0.75000 1 SAINT POLYCARP APARTMENTS 2 MM LLC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 273443018 LOW INCOME HOUSING MA N/A C -1740 79 0.79000 1 SAINT POLYCARP APARTMENTS 3 MM LLC 337 SOMERVILLE AVE 2ND FLOOR SOMERVILLE MA 02143 460972242 LOW INCOME HOUSING MA N/A C -1714 100 1.00000 1 1 0 0 1 0 1 0 0 0 1 0 1 0 0 0 0 1 0 0 33 BOW STREET LIMITED PARTNERSHIP D 643452 FAIR MARKET VALUE