HOUSING CORPORATION OF ARLINGTON

EIN: 042944144 501(c)(3) Housing & Shelter

ARLINGTON, MA

Total Revenue
$2,902,481
Total Expenses
$2,583,324
Total Assets
$21,332,292
Net Assets
$-1,530,290
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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
MA
Principal Officer
ERICA SCHWARZ
Phone
7818595294
Tax Period
2024-01-01 to 2024-12-31

HOUSING CORPORATION OF ARLINGTON, founded in 1986, is a community nonprofit in the Housing & Shelter sector that reported $2.9M in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $2.6M left a modest 11% surplus.

Mission

TO ACQUIRE, DEVELOP, IMPROVE, SELL, MANAGE (MORTGAGE, REMORTGAGE) AND LEASE AFFORDABLE HOUSING IN THE TOWN OF ARLINGTON FOR LOW AND MODERATE INCOME FAMILIES AND TO PROVIDE OTHER SOCIAL AND CIVIC SERVICES TO BENEFIT LOW AND MODERATE INCOME MEMBERS OF SOCIETY.

Program Service Accomplishments

Program 1
Expenses: $1,714,866 Revenue: $1,757,859

AFFORDABLE HOUSINGHCA OWNS AND MANAGES 151 UNITS OF AFFORDABLE RENTAL HOUSING. OUR NEXT AFFORDABLE HOUSING DEVELOPMENT OF 43 PASSIVE HOUSE UNITS WILL BE COMPLETED IN 2026. HCA'S HOUSING PROPERTIES...

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AFFORDABLE HOUSINGHCA OWNS AND MANAGES 151 UNITS OF AFFORDABLE RENTAL HOUSING. OUR NEXT AFFORDABLE HOUSING DEVELOPMENT OF 43 PASSIVE HOUSE UNITS WILL BE COMPLETED IN 2026. HCA'S HOUSING PROPERTIES RANGE IN SIZE FROM 2-48 UNITS AND ARE LOCATED THROUGHOUT ARLINGTON. UNITS ARE RESTRICTED TO BE AFFORDABLE IN PERPETUITY FOR HOUSEHOLDS EARNING NO MORE THAN 60% OF THE AREA MEDIAN INCOME. HCA ENGAGES A PROFESSIONAL PROPERTY MANAGEMENT FIRM TO HELP MANAGE OUR PROPERTIES. HCA CONTINUALLY SEEKS NEW SITES IN ORDER TO CREATE MORE AFFORDABLE HOMES VIA ACQUISITION AND REHAB, OR NEW CONSTRUCTION.

Program 2
Expenses: $587,582

SOCIAL SERVICESHCA SUPPORTS OUR OWN TENANTS AND OTHER LOW-INCOME FAMILIES WITH A WIDE RANGE OF HOUSING AND OTHER SOCIAL SERVICE NEEDS. BASED ON A COMPREHENSIVE INTAKE, ASSISTANCE MAY INCLUDE...

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SOCIAL SERVICESHCA SUPPORTS OUR OWN TENANTS AND OTHER LOW-INCOME FAMILIES WITH A WIDE RANGE OF HOUSING AND OTHER SOCIAL SERVICE NEEDS. BASED ON A COMPREHENSIVE INTAKE, ASSISTANCE MAY INCLUDE: HOMELESSNESS PREVENTION PROGRAM GRANTS: HCA HELPS APPROXIMATELY 50 ARLINGTON FAMILIES A YEAR REMAIN STABLY HOUSED BY AWARDING CLOSE TO $100,000 IN DIRECT SMALL GRANTS TO COVER RENT, SECURITY DEPOSIT OR MOVING EXPENSES. THESE ONE-TIME GRANTS MAY BE THE DIFFERENCE BETWEEN HOMELESSNESS AND STABILITY FOR FAMILIES FACING JOB LOSS, MEDICAL ISSUES, DIVORCE, OR OTHER LIFE CIRCUMSTANCES.HOUSING SUPPORT & SEARCH: HCA HELPS FAMILIES AND INDIVIDUALS WITH HOUSING SEARCH, AND ADDRESS UNSAFE HOUSING CONDITIONS, THREAT OF EVICTION AND MORE. HCA STAFF HELP TENANTS COMMUNICATE WITH LANDLORDS, APPLY FOR WAITING LISTS (INCLUDING HCA'S), APPLY FOR HOUSING VOUCHERS, SECURE A SHELTER BED, OR APPLY FOR HPP AND/OR OTHER RENTAL ASSISTANCE. OTHER SERVICES: HCA STAFF HELP CLIENTS SECURE SOCIAL SECURITY BENEFITS AND MASSHEALTH HEALTH CARE. WE REFER FAMILIES FOR MENTAL HEALTH COUNSELING, FOOD, FUEL ASSISTANCE, JOB SEARCH AND MORE. HCA STAFF MAINTAIN STRONG RELATIONSHIPS WITH PARTNERS, AND FOLLOWS UP UNTIL CLIENTS' NEEDS ARE MET. THROUGH BANK PARTNERSHIPS, HCA ALSO PROVIDES FREE FINANCIAL LITERACY CLASSES.

Program 3

COMMUNITY ENGAGEMENT AND LEADERSHIP DEVELOPMENTTHROUGH HCA'S TENANT COUNCIL OUR TENANTS GAIN A VOICE IN HOW HCA'S PROPERTIES ARE MANAGED AND CAN PLAY A DIRECT ROLE IN BUILDING THEIR QUALITY OF LIFE...

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COMMUNITY ENGAGEMENT AND LEADERSHIP DEVELOPMENTTHROUGH HCA'S TENANT COUNCIL OUR TENANTS GAIN A VOICE IN HOW HCA'S PROPERTIES ARE MANAGED AND CAN PLAY A DIRECT ROLE IN BUILDING THEIR QUALITY OF LIFE. ANY TENANT CAN GAIN LEADERSHIP SKILLS BY JOINING THE TENANT COUNCIL STEERING COMMITTEE, WHICH FACILITATES THE COUNCIL WITH HCA STAFF SUPPORT.HCA ALSO HELPS TO EDUCATE COMMUNITY MEMBERS OF ALL INCOMES ABOUT AFFORDABLE HOUSING ISSUES, AND HELPS THEM BRING THEIR VOICE TO PUBLIC CONVERSATIONS AND TO DECISION MAKING PROCESSES RELATING TO AFFORDABLE HOUSING AND FAMILY STABILITY AT THE STATE AND LOCAL LEVEL. HCA TENANTS AND OTHER RESIDENTS ALSO PLAY KEY ROLES ON HCA COMMITTEES, INCLUDING THE BOARD OF DIRECTORS.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,128,071
Program Service Revenue $1,475,368
Investment Income $16,551
Other Revenue $282,491
TOTAL REVENUE $2,902,481

Expense Breakdown

Grants Paid $90,846
Salaries & Benefits $401,110
Fundraising Expenses $87,385
Program Expenses $2,302,448
Other Expenses $2,091,368
TOTAL EXPENSES $2,583,324

Year-over-Year Comparison

2024 2023 Change
Revenue $2,902,481 $2,298,053 +0.3%
Expenses $2,583,324 $3,037,677 -0.1%
Net Income $319,157 $-739,624 -1.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
15
Independent Members
15
Employees
4
Volunteers
15

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
5
$120,916
Total Directors
18
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NEAL MONGOLD PRESIDENT 3.00
Officer Director
$0 $0 $0
MAKEELIA PARKER VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
JILLIAN STANDISH TREASURER 3.00
Officer Director
$0 $0 $0
DEIRDRE WESTCOTT CLERK 3.00
Officer Director
$0 $0 $0
THOMAS NEE DIRECTOR 2.00
Director
$0 $0 $0
JONATHAN WALLACH DIRECTOR 2.00
Director
$0 $0 $0
DANIELLE CHERY DIRECTOR 2.00
Director
$0 $0 $0
LAURA WIENER DIRECTOR 2.00
Director
$0 $0 $0
TINA ANDERSON DIRECTOR 2.00
Director
$0 $0 $0
ELENA ARRENDOL DIRECTOR 2.00
Director
$0 $0 $0
KEN GARDEN DIRECTOR 2.00
Director
$0 $0 $0
CHRISTOPHER CLAFLIN DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL MANGO DIRECTOR 2.00
Director
$0 $0 $0
JOHN OLIVER DIRECTOR 2.00
Director
$0 $0 $0
SHERIKA WILLIAMSON DIRECTOR 2.00
Director
$0 $0 $0
JACK COOPER DIRECTOR (UNTIL 2024) 2.00
Director
$0 $0 $0
KINJAL SINGH DIRECTOR (UNTIL 2024) 2.00
Director
$0 $0 $0
MATTHEW PIERCE DIRECTOR (UNTIL 2024) 2.00
Director
$0 $0 $0
ERICA SCHWARZ EXECUTIVE DIRECTOR 40.00
Officer
$120,916 $0 $120,916
TAKAYEDZA MASHOKO DIRECTOR OF FINANCE 32.00
Highest
$101,482 $5,760 $107,242
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 $2,902,481 $2,583,324 $21,332,292 $319,157
2023 $840,033 $901,279 $10,765,439 $-61,246
2023 No data No data No data No data
2022 $3,008,942 $1,902,523 $50,946,980 $1,106,419
2022 $5,055,753 $5,625,008 $21,110,462 $-569,255
2021 $1,905,445 $3,360,074 $17,581,714 $-1,454,629
2021 $2,009,359 $1,744,994 $44,078,576 $264,365
2020 $3,015,654 $2,239,022 $31,940,456 $776,632
2019 $1,705,939 $1,544,699 $20,378,038 $161,240
2018 $1,517,451 $1,536,778 $19,156,452 $-19,327
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