2016-08-04T07:16:22-05:00 2015-12-31 042660283 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2015-01-01 042660283 THE NEIGHBORHOOD DEVELOPERS INC NEIG 6178891375 4 GERRISH AVENUE CHELSEA MA 02150 ANN HOUSTON EXECUTIVE DIRECTOR 6178891375 2016-08-03 1 MATTHEW TROIANO CPA P01263939 5083669100 2016-08-03 2015 2016-12-15 16:53:06Z ANN HOUSTON 4 GERRISH AVENUE CHELSEA MA 02150 9811029 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 32 240 0 0 2028322 2284264 2149688 2223906 94413 -646217 5342 509412 4277765 4371365 79773 3275 0 0 1540545 1595995 0 0 164345 1957097 3998177 3577415 5597447 700350 -1226082 23547655 13971644 15219933 3834842 8327722 10136802 X 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. TO THIS END, 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 2140123 837855 REAL ESTATE DEVELOPMENT -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. SINCE 2005, OUR HOUSING PORTFOLIO HAS INCREASED FROM 110 TO 350 UNITS; 99% OF OUR APARTMENTS BENEFIT HOUSEHOLDS EARNING 60% OR LESS OF THE AREA MEDIAN INCOME. DURING 2015, 44 HOUSING UNITS COMPLETED CONSTRUCTION, AND AT YEAR END, 81 UNITS WERE IN CONSTRUCTION. 1377565 1106901 RENTAL - TND MANAGES A PORTFOLIO OF 350 UNITS THAT HOUSE LOW-INCOME HOUSEHOLDS. CURRENTLY, 99% OF OUR APARTMENTS BENEFIT HOUSEHOLDS EARNING 60% OR LESS OF THE AREA MEDIAN INCOME. DURING 2015, TND COMPLETED CONSTRUCTION OF 44 HOUSING UNITS, AND PROGRESSED THE CONSTRUCTION OF 81 ADDITIONAL UNITS. 881087 3275 348 CONNECT: A FINANCIAL OPPORTUNITY CENTER -STABLE AND SUFFICIENT INCOME ENABLES A FAMILY TO THRIVE AND ENVISION A BETTER FUTURE FOR THEMSELVES AND THEIR COMMUNITY. 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 CONNECT, 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 THE APPROXIMATELY 310 CLIENTS TND COACHED IN 2015, THE MEDIAN NET INCOME GAIN PER CLIENT WAS $716 PER MONTH, AND CREDIT SCORES IMPROVED BY 47 POINTS PER CLIENT. AS THE LEAD AGENCY OF CONNECT, TND HOSTS CONNECT'S FACILITY, COORDINATES INTEGRATED MULTI-PARTY SERVICE DELIVERY AND MANAGES THE PROGRAM'S DATA COLLECTION AND EVALUATION. IN 2015, APPROXIMATELY 3,800 HOUSEHOLDS BENEFITTED FROM CONNECT'S PROGRAMMING, ON A NATIONAL LEVEL. 108251 FINANCIAL CAPABILITIES -TND ASSISTS LOW-INCOME HOUSEHOLDS TO IMPROVE THEIR STANDARD OF LIVING AND TO ASPIRE FOR A BETTER ECONOMIC FUTURE. AT THE CONNECT CENTER, TND DELIVERS FINANCIAL EDUCATION TO BUILD HOUSEHOLD BUDGETING AND MONEY MANAGEMENT SKILLS, AND PROVIDES ACCESS TO PUBLIC INCOME SUPPORTS THROUGH PUBLIC BENEFITS SCREENING AND FREE TAX PREPARATION. ADDITIONALLY, AT CONNECT, TND DELIVERS FINANCIAL COACHING AND PEER SUPPORT, TWO PROGRAMS THAT ASSIST LOW-INCOME INDIVIDUALS TO SET AND WORK TOWARDS FINANCIAL GOALS. 298913 48480 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 2015, 202 KEY LEADERS AND STAFF MOBILIZED 1,498 UNIQUE INDIVIDUALS TO JOIN COMMUNITY BUILDING AND CIVIC ENGAGEMENT ACTIVITIES. 205884 CHELSEA THRIVES -ACROSS THE NATION, THE COMMUNITY DEVELOPMENT SECTOR IS RETHINKING HOW 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 AND SUPPORT 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 HEALTHY COMMUNITY GOALS. A FOCUS ON BOTH PEOPLE AND PLACE, THAT LIFTS LOCAL RESIDENTS OUT OF POVERTY WHILE BUILDING A HEALTHY, SAFE AND LIVABLE NEIGHBORHOOD THAT BENEFITS BOTH RESIDENTS AND THE CITY IS THE AIM OF CHELSEA THRIVES. TND PLAYS THE ROLE OF PROJECT BACKBONE, FACILITATING CROSS-SECTOR PROGRAM INTEGRATION. 613048 48480 5011823 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 1 0 0 0 0 0 0 1 1 1 1 0 0 1 27 0 1 32 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 ANN HOUSTON 6178891375 4 GERRISH AVENUE CHELSEA MA 02150 TECHROSETTE LENG DIRECTOR 1.00 1.00 X 0 0 0 PETER HOLLANDS DIRECTOR 1.00 1.00 X 0 0 0 DIMPLE RANA DIRECTOR 1.00 1.00 X 0 0 0 WILLIAM H WILLIS SECRETARY 1.00 1.00 X X 0 0 0 MICHAEL MARTIN TREASURER 1.00 1.00 X X 0 0 0 CHARLENE BAUER PRESIDENT 1.00 1.00 X X 0 0 0 KRISTEN JANJAR DIRECTOR 1.00 1.00 X 0 0 0 ORLANDO JAQUEZ VICE PRESIDENT 1.00 1.00 X X 0 0 0 ALBERTO CALVO DIRECTOR 1.00 1.00 X 0 0 0 WILLIAM MORRISON DIRECTOR 1.00 1.00 X 0 0 0 LISA SANTAGATE DIRECTOR 1.00 1.00 X 0 0 0 JUAN VEGA DIRECTOR 1.00 1.00 X 0 0 0 ANN HOUSTON EXECUTIVE DIRECTOR 45.00 1.00 X 153743 0 21653 DAVID KEENE-RESIGNED DURING '15 DIRECTOR OF FINANCE AND OPERATIONS 45.00 0.00 X 99543 0 15343 253286 0 36996 1 0 1 0 TIMBERLINE CONSTRUCTION CORP 300 PINE STREET CANTON MA 02021 CONSTRUCTION 189480 NORTHEAST INTERIORS INC 27 PARCELLA PARK DRIVE RANDOLPH MA 02368 CONSTRUCTION 114154 UTILE INC 115 KINGSTON STREET BOSTON MA 02111 ARCHITECTS 104201 3 96162 884053 1304049 2284264 FEES & PROJECT REIMBURS 561700 1188833 1188833 RENTAL INCOME 531110 1035073 1035073 2223906 93517 93517 4699930 5439664 -739734 -739734 -739734 GAIN ON SALE OF TAX CREDITS 900099 435702 435702 MISCELLANEOUS 900099 73710 73710 509412 4371365 1993584 0 93517 X 3275 3275 290282 209188 63555 17539 1054088 945069 55116 53903 38120 34787 1613 1720 103929 93135 5637 5157 109576 94291 9715 5570 48842 48842 4137 2991 1146 46130 20795 25335 905926 741723 105782 58421 182885 152557 22805 7523 660611 597474 56903 6234 24368 11322 10576 2470 405777 383108 22669 LOAN LOSS PROVISION 1358298 1358298 MISCELLANEOUS 150599 104864 39927 5808 LOSS ON NON-RECOVERABLE 143397 143397 IMPAIRMENT ON INVESTMEN 50080 50080 17127 16627 500 5597447 5011823 421279 164345 1686630 3729921 457098 219540 304365 295122 2435457 2944913 4586515 1044209 12990446 3542306 5673659 3239842 23547655 13971644 838511 507602 14370158 3310856 11264 16384 15219933 3834842 X 4975998 6739651 1872816 2054024 1478908 1343127 8327722 10136802 23547655 13971644 X -1226082 3035162 X X 0 1 X 1 1 1 X 1009394 1220652 1634954 2028322 2284264 8177586 1009394 1220652 1634954 2028322 2284264 8177586 439554 7738032 84863 84791 101458 93451 93517 458080 8246 424346 16079 5342 509412 963425 9599091 8810655 0.80610 0.82070 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 827500 827500 3699368 1017343 2682025 59647 26866 32781 3542306 PROJECTS UNDER DEVELOPMENT 40633 OTHER CURRENT ASSETS 27158 ESCROW ACCOUNTS 245994 DUE FROM RELATED PARTIES 2081851 INVESTMENTS IN AFFILIATES 841019 CAPITALIZED COSTS, NET 3187 3239842 DUE TO RELATED PARTIES 16384 16384 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, 2015. HOWEVER, TND, INC. AND AFFILIATES ARE SUBJECT TO AUDIT BY TAX AUTHORITIES. TND, INC. AND AFFILIATES BELIEVE THAT THEY HAVE APPROPRIATE SUPPORT FOR THE POSITIONS TAKEN ON THEIR TAX RETURNS. X 0 0 0 0 0 0 0 0 0 ANN HOUSTON EXECUTIVE DIRECTOR 153743 0 0 0 0 0 0 0 21653 0 175396 0 0 0 WILLIAM MORRISON BOARD OF DIRECTOR 40000 CONSULTING SERVICES 0 FORM 990, PART I, LINE 1 DESCRIPTION OF ORGANIZATION MISSION (CONTINUED) - TO THIS END, TND PARTNERS WITH PUBLIC AND PRIVATE SECTOR INSTITUTIONS AND THE RESIDENTS OF THE NEIGHBORHOODS WE SERVE TO FOSTER CROSS-SECTOR COMMUINITY REVITALIZATION. OVER THE YEARS, OUR HOUSING PORTFOLIO HAS INCREASED TO 350 UNITS WITH 44 UNITS COMPLETED DURING 2015 REPRESENTING APPROXIMATELY $15.4 MILLION INVESTED IN PROPERTIES THAT AFFORDABLY HOUSE LOW-INCOME HOUSEHOLDS AND CONTRIBUTE TO NEIGHBORHOOD VITALITY. IN SUPPORT OF THE ECONOMIC MOBILITY OF LOW-INCOME FAMILIES, TND LEADS FIVE ORGANIZATIONS THAT CO-LOCATE AND INTEGREATE FINANCIAL OPPORTUNITY SERVICES THAT REACH APPROXIMATELY 4000 PERSONS ANNUALLY. OUR COMMUNITY ENGAGEMENT PROGRAMMING INVOLVES 1500-2000 INDIVIDUALS ANNUALLY IN COMMUNITY BUILDING AND CIVIC ENGAGEMENT PROGRAMMING. 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 11 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. WHEN FILLED, THE DIRECTOR OF FINANCE POSITION 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 IX, LINE 11G CONSULTING AND RENTAL CONTRACT LABOR: PROGRAM SERVICE EXPENSES 572,234. MANAGEMENT AND GENERAL EXPENSES 93,364. FUNDRAISING EXPENSES 53,369. TOTAL EXPENSES 718,967. CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 132,919. MANAGEMENT AND GENERAL EXPENSES 8,689. FUNDRAISING EXPENSES 2,819. TOTAL EXPENSES 144,427. PAYROLL PROCESSING: PROGRAM SERVICE EXPENSES 36,570. MANAGEMENT AND GENERAL EXPENSES 3,729. FUNDRAISING EXPENSES 2,233. TOTAL EXPENSES 42,532. FORM 990, PART XI, LINE 9: FORGIVENESS OF DEBT 3,035,162. FORM 990, PART XII, LINE 2C: THE FINANCE COMMITTEE REVIEWS THE 990 WITH THE AUDITORS. THE BOARD HAS VOTED UNANIMOUSLY TO ALLOW THE FINANCE COMMITTEE TO APPROVE THE 990. 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