2024-10-15T14:08:27-05:00 2022-09-30 042713795 MEYERS BROTHERS KALICKA PC 330 WHITNEY AVE SUITE 800 HOLYOKE MA 01040 990 2021-10-01 237320953 RIVERSIDE DEVELOPMENT CORPORATION RIVE 4135337102 70 LYMAN STREET HOLYOKE MA 010406206 MICHAEL MORIARTY PRESIDENT 4135337102 2024-09-19 1 HOWARD L CHENEY P00381206 4135368510 2024-09-05 2021 2024-10-15 13:58:12Z MICHAEL MORIARTY 70 LYMAN STREET HOLYOKE MA 010406206 602700 0 X N/A X 1972 MA TO FURTHER ECONOMIC DEVELOPMENT IN THE CITY OF HOLYOKE, MASSACHUSETTS AND ITS ENVIRONS. X 11 11 9 11 0 0 105300 0 828878 602608 190 92 0 0 934368 602700 0 0 0 0 573584 388704 0 0 0 222822 139550 796406 528254 137962 74446 510036 0 238014 0 272022 0 X THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO FURTHER ECONOMIC DEVELOPMENT IN THE CITY OF HOLYOKE, MASSACHUSETTS AND ITS ENVIRONS, BY PROMOTING AND ASSISTING THE GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS. 0 1 423211 0 602608 ADMINISTRATION AND MANAGEMENT OF LOW-INCOME HOUSING PROJECTS IN THE CITY OF HOLYOKE, MASSACHUSETTS. 423211 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 4 0 1 9 1 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X MICHAEL MORIARTY 4135337102 70 LYMAN STREET HOLYOKE MA 01040 WALTER NALESNIK CHAIRMAN 1.00 X X 0 0 0 DUANE CAMP TREASURER 1.00 X X 0 0 0 ARMANDO SANTIAGO CO-CHAIR 1.00 X X 0 0 0 MAURICE LACASSE DIRECTOR 1.00 X 0 0 0 MARIA PAGAN DIRECTOR 1.00 X 0 0 0 JOHN LENIHAN DIRECTOR 1.00 X 0 0 0 ERIC MATTOS DIRECTOR 1.00 X 0 0 0 VICTOR RODRIGUEZ CLERK 1.00 X X 0 0 0 IVIE CORDERO DIRECTOR 1.00 X 0 0 0 LINDA PRATT DIRECTOR 1.00 X 0 0 0 DEBORAH WALKER DIRECTOR 1.00 X 0 0 0 MICHAEL MORIARTY PRESIDENT 10.00 35.00 X 10556 72833 22988 10556 72833 22988 0 0 0 0 0 PURCHASED SERVICES 531390 602608 602608 602608 92 92 602700 602608 0 92 7917 7917 277643 277643 79433 79433 23711 23054 657 90000 90000 224 224 3701 3701 252 252 14849 12305 2544 RECEIVERSHIP EXPENSES 25540 25540 AUTO LEASE EXPENSE 3461 3461 TRAINING EXPENSES 603 603 AUTO EXPENSE 500 500 420 420 528254 423211 105043 0 26856 0 30031 0 404523 0 5472 0 0 0 43154 0 510036 0 58042 0 13561 0 166411 0 238014 0 X 272022 0 272022 0 510036 0 X 74446 -346468 X X 0 0 0 OFFICE & MAINTENANCE EQUIPMENT 2022-06-30 43154 NET BOOK VALUE 237168031 ONEHOLYOKE COMMUNITY DEVELOPMENT 70 LYMAN STREET HOLYOKE MA 01040 501(C)(3) DUE FROM TRANSFEREE 2022-06-30 292887 NET BOOK VALUE 237168031 ONEHOLYOKE COMMUNITY DEVELOPMENT 70 LYMAN STREET HOLYOKE MA 01040 501(C)(3) CASH AND RECEIVABLE NET OF PAYABLES 2022-06-30 10427 NET BOOK VALUE 237168031 ONEHOLYOKE COMMUNITY DEVELOPMENT 70 LYMAN STREET HOLYOKE MA 01040 501(C)(3) 0 0 0 0 FORM 990, PART III, LINE 3 EFFECTIVE JUNE 30, 2022, MAINTENANCE SERVICES THAT WERE PREVIOUSLY PROVIDED TO RELATED ORGANIZATIONS WAS TRANSFERRED TO ONEHOLYOKE COMMUNITY DEVELOPMENT CORPORATION, A RELATED ORGANIZATION. THE OPERATING ASSETS, SUCH AS EQUIPMENT, A MAINTENANCE TRUCK AND CASH, WERE ALSO TRANSFERRED TO THE ORGANIZATION, AS WERE THE RELATED OUTSTANDING PAYROLL LIABILITIES. THE NET OF THOSE ASSETS TOTALED $346,468. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED BY THE TREASURER AND PRESIDENT AND A COPY WILL BE PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C COPIES OF THE CONFLICT OF INTEREST POLICY ARE DISTRIBUTED TO ALL BOARD MEMBERS. THEY ARE REQUIRED TO MAKE A PROMPT AND FULL DISCLOSURE OF THEIR INTEREST TO THE BOARD PRIOR TO ITS ACTING ON ANY CONFLICTED TRANSACTION. ANY BOARD MEMBER WITH A CONFLICT OF INTEREST MUST ABSTAIN FROM VOTING ON ANY RELATED ISSUES. FORM 990, PART VI, SECTION B, LINE 15 PART VI: LINE 15: THE ORGANIZATION USES HOLYOKE HOUSING AUTHORITY'S RATES TO DETERMINE RAISES. FORM 990, PART VI, SECTION C, LINE 18 THESE FORMS ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST FORM 990, PART XI, LINE 9: TRANSFER OF MAINTENANCE SERVICES OPERATING ASSETS NET OF LIABILITIES -346,468. PART XII, LINE 2C: THERE WERE NO CHANGES IN THE ORGANIZATION'S OVERSIGHT PROCESS OR IN ITS SELECTION PROCESS DURING THE TAX YEAR. ONEHOLYOKE COMMUNITY DEVELOPMENT CORPORATION 70 LYMAN STREET HOLYOKE MA 01040 237168031 LOW-INCOME HOUSING MA 501(C)3 509(A)1 0 THE ELMS INC 70 LYMAN STREET HOLYOKE MA 01040 222475565 HOUSING FOR ELDERLY OR HANDICAPPED PERSONS MA 501(C)3 509(A)2 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 ONEHOLYOKE COMMUNITY DEVELOPMENT CORPORATION L 548407 COMPARABLE METHOD THE ELMS INC L 54201 COMPARABLE METHOD ONEHOLYOKE COMMUNITY DEVELOPMENT CORPORATION P 79433 REIMBURSEMENT ONEHOLYOKE COMMUNITY DEVELOPMENT CORPORATION K 3461 REIMBURSEMENT ONEHOLYOKE COMMUNITY DEVELOPMENT CORPORATION R 346468 NBV OF TRANSFERRED ASSETS FROM THE ONSET OF THE PANDEMIC, THROUGHOUT FY 22, AND BEYOND ONEHOLYOKE CDC WAS UNDERMINED BY ONE OF THE MOST DIFFICULT HIRING ENVIRONMENTS IN MEMORY. OUR VERY SMALL STAFF OF FINANCE EMPLOYEES WAS PLAGUED BY OVER 100% TURNOVER AND RECURRING SHORT RETENTION. WE WERE FORTUNATE TO HAVE A PART TIME OUTSIDE CONSULTANT TO SERVE AS FINANCE DIRECTOR THROUGH THIS TIME, ALTHOUGH IT WAS NEVER INTENDED TO LEAVE HER RESPONSIBLE FOR DAY TO DAY OPERATIONS FOR SUCH AN EXTENDED PERIOD OF TIME. EVERY OTHER POSITION WE SOUGHT TO FILL WAS EITHER REDUCED TO PART TIME TO ACCOMMODATE AVAILABLE STAFF OR TURNED OVER IN VERY SHORT ORDER. WE TRANSITIONED FROM A DIFFICULT PROPRIETARY FINANCIAL ACCOUNTING SOFTWARE TO QUICKBOOKS AND SIMPLIFY OUR ORGANIZATIONAL STRUCTURE. UNFORTUNATELY, ACTIVITY THAT SHOULD HAVE BEEN REPORTED BY ONE ORGANIZATION WAS REPORTED TO ANOTHER RELATED ORGANIZATION. THIS WAS DISCOVERED DURING THAT ORGANIZATION'S AUDIT. WE RESPECTFULLY REQUEST THAT LATE FILING PENALTIES BE WAIVED. ALL OF THE SOFTWARE, ORGANIZATIONAL AND GENERAL LEDGER TRANSITIONS ARE NOW SUCCESSFULLY COMPLETED. WE HAVE BEEN ABLE TO HIRE A FULL TIME FINANCE DIRECTOR, SUPPORTED BY A FULL TIME BOOKKEEPER, ENABLING OUR PART TIME CONSULTANT TO SUPPORT US WITH HER EXPERTISE AND NOT BE MIRED IN DAILY OPERATIONS.