2024-11-15T22:28:55-06:00 2023-12-31 221478099 COHNREZNICK LLP 350 GRANITE STREET SUITE 1200 BRAINTREE MA 02184 990 2023-01-01 042686893 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC NORT 9787458071 96 LAFAYETTE STREET SALEM MA 01970 FELICIA S PIERCE CHIEF EXECUTIVE OFFICER 9787458071 2024-11-15 1 1 JOLANTA TUCK CPA P01340068 7813803520 2024-11-15 2023 2024-10-15 13:58:12Z FELICIA S PIERCE 96 LAFAYETTE STREET SALEM MA 01970 6223882 0 X WWW.NORTHSHORECDC.ORG X 1979 MA TO INVEST IN NEIGHBORHOODS TO CREATE THRIVING COMMUNITIES. 12 12 0 115 0 0 2188065 1729800 2758628 2932789 0 0 26480 1561293 4973173 6223882 0 0 0 0 2625937 2870643 34764 0 297188 2106978 4223210 4767679 7093853 205494 -869971 26601543 41536624 18621467 33852295 7980076 7684329 X TO INVEST IN NEIGHBORHOODS TO CREATE THRIVING COMMUNITIES. 0 0 1527964 2104584 YOUTH PROGRAMS - THE MAJOR COMPONENT OF THE YOUTH PROGRAMS IS YOUTHBUILD-NORTH SHORE, A WORKFORCE AND LEADERSHIP DEVELOPMENT PROGRAM WHICH PROVIDES ACADEMIC AND WORKFORCE TRAINING TO OUT-OF-SCHOOL YOUTH, AGES 16 TO 24. PROGRAM ACTIVITIES ARE PROVIDED THROUGHOUT THE AGENCY'S SERVICE AREA IN CITIES SUCH AS SALEM, BEVERLY, PEABODY, GLOUCESTER AND LYNN. 1226346 965626 RENTAL HOUSING - THE RENTAL HOUSING DIVISION OPERATES RESIDENTIAL APARTMENTS WHICH PROVIDE AFFORDABLE RENTAL OPPORTUNITIES FOR PERSONS OF LOW TO MODERATE INCOME. THIS DIVISION ALSO OPERATES COMMERCIAL UNITS, PROVIDING AFFORDABLE RENTS FOR LOCAL BUSINESSES. 984688 1411417 REAL ESTATE DEVELOPMENT - NSCDC DEVELOPS AFFORDABLE HOUSING IN SALEM AND SURROUNDING CITIES AND TOWNS. COSTS DIRECTLY ATTRIBUTABLE TO A SPECIFIC PROJECT ARE CAPITALIZED AND RECORDED AS REAL ESTATE PROJECT DEVELOPMENT COSTS ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. COSTS NOT DIRECTLY ATTRIBUTABLE TO A SPECIFIC PROJECT ARE EXPENSED. 882824 12455 COMMUNITY ENGAGEMENT - COMMUNITY ENGAGEMENT PROVIDES RESIDENTS WITH WALK-IN CASE MANAGEMENT THROUGH THE FAMILY SUCCESS PROGRAM, WHICH ALSO INCLUDES ENGLISH AS A SECOND LANGUAGE CLASSES, FREE TAX PREPARATION, EMPLOYMENT ASSISTANCE, HOUSING STABILITY SUPPORT AND SERVICES RELATED TO COVID-19. IN ADDITION, NSCDC PROVIDES INTENSIVE VOTER ENGAGEMENT OUTREACH INCLUDING POLL MONITORING AND CENSUS SUPPORT, AND IS HIGHLY ACTIVE IN NEIGHBORHOOD RESIDENT MEETINGS, COMMUNITY RESOURCE MEETINGS AND MUCH MORE. 882824 12455 4621822 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 0 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 68 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X FELICIA PIERCE 9787458071 96 LAFAYETTE STREET SALEM MA 01970 FRANK NITKIEWICZ DIRECTOR 1.00 0.60 X X 0 0 0 MIKKI WILSON PRESIDENT 1.00 0.60 X X 0 0 0 FAITH GLICKMAN ROSSI VICE PRESIDENT 1.00 0.60 X X 0 0 0 DIANA MORENO CLERK 1.00 0.60 X X 0 0 0 ARIEL NOESI TREASURER 1.00 0.60 X 0 0 0 BRIAN CASTELLANOS DIRECTOR 1.00 0.60 X 0 0 0 XAVIER COLE DIRECTOR 1.00 0.60 X 0 0 0 NAOMI COTTRELL DIRECTOR 1.00 0.60 X 0 0 0 SARAH TARBET DIRECTOR 1.00 0.60 X 0 0 0 HANNAH GILLIAN COMMOSS DIRECTOR 1.00 0.60 X 0 0 0 ADRIANA PAZ DIRECTOR 1.00 0.60 X 0 0 0 EILEEN QUINN DIRECTOR 1.00 0.60 X 0 0 0 MICKEY NORTHCUTT CHIEF EXECUTIVE OFFICER 40.00 0.60 X 205607 0 6199 FELICIA PIERCE CHIEF PROGRAM OFFICER 40.00 0.60 X 123290 0 11179 ILENE VOGEL DIRECTOR OF REAL ESTATE 40.00 0.60 X 137468 0 257 JASON PINA DIRECTOR OF PORTFOLIO MANAGEMENT 40.00 0.60 X 120089 0 19219 586454 0 36854 4 0 1 0 MARINA ROQUE ALVAREZ 96 LAFAYETTE STREET SALEM MA 01970 RENT FOR 96 LAFAYETTE STREET 138874 1 199044 1530756 1729800 RENTAL REVENUE 531110 965626 965626 DEVELOPER FEES 531390 876536 876536 PROGRAM SERVICE FEES 531390 555746 555746 LOAN INTEREST 531390 286206 286206 MANAGEMENT FEES 531390 248675 248675 2932789 OTHER INCOME 531390 1548838 1548838 CONTRACT SERVICE REVEN 531390 12455 12455 1561293 6223882 4494082 0 0 211806 141910 55070 14826 2658837 1800717 699159 158961 383090 35327 270409 77354 1656378 1357049 260825 38504 579766 481644 93106 5016 193040 113517 79523 251306 241937 9369 PROJECT EXPENSES 1159630 449721 707382 2527 7093853 4621822 2174843 297188 1139477 1481941 1907 1918 1951597 1156870 5308806 5568838 31646 35631 20575088 2480727 7149893 18094361 176799 176799 6120560 5941931 4720858 9078335 26601543 41536624 962470 2852894 8280 11839 63497 72867 10188915 23510240 7398305 7404455 18621467 33852295 X 7680076 7684329 300000 0 7980076 7684329 26601543 41536624 X -869971 574224 X 0 1 X 1 0 X 1859611 2452602 4475186 2188065 1729800 12705264 1112656 1168945 2217391 2758628 2932789 10190409 2972267 3621547 6692577 4946693 4662589 22895673 0 487605 480516 213899 924003 2722077 4828100 487605 480516 213899 924003 2722077 4828100 18067573 7838 2092 4726 14656 7838 2092 4726 14656 181470 127827 8620 26480 1561293 1905690 3161575 3751466 6705923 4973173 6223882 24816019 0.72810 0.85430 0.00060 0.00140 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2019 AMOUNT: $ 181,470. 2020 AMOUNT: $ 2,837. 2021 AMOUNT: $ 8,620. 2022 AMOUNT: $ 26,480. 2023 AMOUNT: $ 1,561,293. FORGIVENESS OF DEBT - 2020 AMOUNT: $ 124,990. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 1955393 1955393 18201152 2161750 16039402 165906 146030 19876 252637 172947 79690 18094361 ESCROWS 83495 SECURITY DEPOSITS 61925 ADVANCES DUE FROM AFFILIATES 2065400 REAL ESTATE PROJECT DEVELOPMENT COSTS 6867515 9078335 LEASE LIABILITY 7149794 DUE TO AFFILIATES 254661 7404455 X PART IV, LINE 2B: THE ESCROW LIABILITY AMOUNTS OF FORM 990, PART X, LINE 21 CONSIST OF TENANT SECURITY DEPOSITS, WHICH ARE HELD IN A SEPARATE BANK ACCOUNT. THE DEPOSITS ARE REFUNDED TO THE TENANT UPON TERMINATION OF THE LEASE. PART X, LINE 2: GENERALLY, THE AGENCY'S INFORMATION/TAX RETURNS REMAIN OPEN FOR FEDERAL INCOME TAX EXAMINATION FOR THREE YEARS FROM THE FILING DATE. WHILE NO INFORMATION OR TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2020 REMAIN OPEN. AS OF DECEMBER 31, 2023 AND 2022, THE AGENCY BELIEVES THAT THERE ARE NO UNCERTAIN TAX POSITIONS WITH ANY OF ITS OPEN TAX YEARS. X X 0 0 0 0 0 0 0 0 0 MICKEY NORTHCUTT CHIEF EXECUTIVE OFFICER 205607 0 0 0 0 0 0 0 6199 0 211806 0 0 0 FORM 990, PART IV, LINE 12B: AS OF THE DATE OF FILING THE AUDIT HAS NOT YET BEEN COMPLETED. FORM 990 HAS BEEN PREPARED BASED ON THE BEST INFORMATION AVAILABLE. SHOULD INFORMATION SUBSTANTIALLY CHANGE UPON COMPLETION OF THE AUDIT, APPROPRIATE ACTION WILL BE TAKEN. FORM 990, PART VI, SECTION A, LINE 3 SALEM HARBOR DEVELOPERS, LLC (SHDLLC), CONGRESS & WARD, LLC (CW), 47 LEAVITT STREET, LLC (LEAVITT STREET), 15-17 HARBOR STREET LLC (HARBOR STREET), CONGRESS & DOW LLC (CD), POWDER HOUSE MANCHESTER LLC (POWDER HOUSE) AND 41 MILL STREET, LLC (MS) ARE MANAGED BY PEABODY PROPERTIES, INC., AN UNRELATED ORGANIZATION THAT PROVIDES RENTAL OPERATIONS SERVICES. THE MANAGEMENT AGREEMENT REMAINS IN EFFECT UNTIL TERMINATED BY OWNER OR AGENT. THE ORGANIZATION INCURRED $30,840 IN TOTAL MANAGEMENT FEES FOR THE ABOVE ENTITIES FOR THE YEAR ENDED DECEMBER 31, 2022. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE PRESENTED TO THE BOARD PRIOR TO FILING, FOR REVIEW AND DISCUSSION. FORM 990, PART VI, SECTION B, LINE 12C A WRITTEN DISCLOSURE MUST BE CIRCULATED TO ALL THE DIRECTORS OF THE CORPORATION ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE EXECUTIVE DIRECTOR IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. COMPENSATION OF THE FISCAL MANAGER IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST FORM 990, PART XI, LINE 9: TRANSFERS OF NET ASSETS TO AFFILIATES 574,224. SALEM HARBOR DEVELOPERS LLC 96 LAFAYETTE STREET SALEM MA 01970 205604727 AFFORDABLE HOUSING MA 302873 3831812 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC 15 WARD STREET LLC 96 LAFAYETTE STREET SALEM MA 01970 463372379 AFFORDABLE HOUSING MA 0 177335 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC CONGRESS & WARD LLC 96 LAFAYETTE STREET SALEM MA 01970 472312990 AFFORDABLE HOUSING MA 0 0 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC 47 LEAVITT STREET LLC 96 LAFAYETTE STREET SALEM MA 01970 471877809 AFFORDABLE HOUSING MA 0 0 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC CONGRESS & DOW LLC 96 LAFAYETTE STREET SALEM MA 01970 472302772 AFFORDABLE HOUSING MA 0 0 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC 15-17 HARBOR STREET LLC 96 LAFAYETTE STREET SALEM MA 01970 471926264 AFFORDABLE HOUSING MA 221 221 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC SALEM SCHOOLS LLC 96 LAFAYETTE STREET SALEM MA 01970 831601005 AFFORDABLE HOUSING MA 0 10610980 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC LAFAYETTE HOUSING II GP LLC 96 LAFAYETTE STREET SALEM MA 01970 853760062 AFFORDABLE HOUSING MA 0 0 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC POWDER HOUSE MANCHESTER LLC 96 LAFAYETTE STREET SALEM MA 01970 AFFORDABLE HOUSING MA 477744 3975785 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC 41 MILL STREET LLC 96 LAFAYETTE STREET SALEM MA 01970 AFFORDABLE HOUSING MA 0 0 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC NEW POINT FAMILY HOUSING MM LLC 96 LAFAYETTE STREET SALEM MA 01970 AFFORDABLE HOUSING MA 182796 12118942 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC RESIDENCES AT ENDICOTT LLC 96 LAFAYETTE STREET SALEM MA 01970 AFFORDABLE HOUSING MA 0 2941333 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC SALEM SCHOOLS MM LLC 96 LAFAYETTE STREET SALEM MA 01970 AFFORDABLE HOUSING MA 0 0 NORTH SHORE COMMUNITY DEVELOPMENT COALITION INC SALEM POINT RENTAL PROPERTIES CORPORATION 96 LAFAYETTE STREET SALEM MA 01970 043143070 AFFORDABLE HOUSING MA 501(C)(3) LINE 10 NORTH SHORE 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