HOUSING OPPORTUNITIES MILTON ELDERLY INC

EIN: 042615699 501(c)(3) Housing & Shelter

MILTON, MA

Total Revenue
$1,804,153
Total Expenses
$2,045,319
Total Assets
$17,505,481
Net Assets
$-15,156,853
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
MA
Principal Officer
JAMES CRONIN
Phone
6176969486
Tax Period
2024-01-01 to 2024-12-31

HOUSING OPPORTUNITIES MILTON ELDERLY INC, founded in 1977, is a community nonprofit in the Housing & Shelter sector that reported $1.8M in total revenue in fiscal year 2024. Expenses of $2.0M exceeded revenue, resulting in a 13% operating deficit.

Mission

TO PROVIDE ADEQUATE HOUSING FACILITIES ON A NON-PROFT BASIS FOR THE USE AND OCCUPANCY OF ELDERLY, AGED, OR HANDICAPPED PERSONS AND OTHER SERVICES SPECIALLY DESIGNED TO MEET THE PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS OF THE ELDERLY, AGED AND HANDICAPPED AND TO PROMOTETHEIR HEALTH, SECURITY, HAPPINESS IN LONGER LIVING, THE CHARGES FOR SUCH HOUSING AND SERVICES INSOFAR AS CONTRIBUTIONS, BEQUESTS OR INCOME OF THE CORPORATION MAKE THIS POSSIBLE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $67
Program Service Revenue $1,449,880
Investment Income $349,639
Other Revenue $4,567
TOTAL REVENUE $1,804,153

Expense Breakdown

Grants Paid $0
Salaries & Benefits $320,183
Fundraising Expenses $0
Program Expenses $1,828,944
Other Expenses $1,725,136
TOTAL EXPENSES $2,045,319

Year-over-Year Comparison

2024 2023 Change
Revenue $1,804,153 $1,884,741 0.0%
Expenses $2,045,319 $2,147,913 0.0%
Net Income $-241,166 $-263,172 -0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
5
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$111,170
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOANNE BONNER PRESIDENT 5.00
Officer Director
$0 $0 $0
DAVID DEMPSTER VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
JAMES CRONIN TREASURER 3.00
Officer Director
$0 $0 $0
MAUREEN MCCARTHY SECRETARY 2.00
Officer Director
$0 $0 $0
AGNES DILLON DIRECTOR 1.00
Director
$0 $0 $0
ROBERT LAKE DIRECTOR 1.00
Director
$0 $0 $0
JOHN TANGNEY DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM MURPHY DIRECTOR 1.00
Director
$0 $0 $0
MARY WHITNEY DIRECTOR 1.00
Director
$0 $0 $0
CHRIS KERRIGAN EXECUTIVE DIRECTOR 40.00
Officer
$49,600 $6,998 $56,598
WENDY DALY EXECUTIVE DIRECTOR 40.00
Officer
$51,731 $2,841 $54,572
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $1,804,153 $2,045,319 $17,505,481 $-241,166
2023 $1,884,741 $2,147,913 $14,860,670 $-263,172
2022 $1,443,564 $2,306,408 $15,078,086 $-862,844
2021 $2,494,221 $2,088,442 $16,273,256 $405,779
2020 $1,313,851 $1,877,917 $15,014,282 $-564,066
2019 $1,110,042 $2,165,544 $14,480,718 $-1,055,502
2018 $1,146,888 $2,002,021 $13,988,357 $-855,133
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