2024-11-15T15:05:49-06:00 2023-12-31 042979611 NARDELLA & TAYLOR LLP 24 HARTWELL AVENUE LEXINGTON MA 02421 990 2023-01-01 043309563 PARACLETE INC C/O PETER GELZINIS PRESIDENT PARA 8572049518 770 EAST BROADWAY SOUTH BOSTON MA 02127 PETER GELZINIS PRESIDENT 8572049518 2024-11-15 1 0 EDWARD TAYLOR P00299025 7818626833 2024-11-15 X 2023 2024-10-15 13:58:12Z PETER GELZINIS 770 EAST BROADWAY SOUTH BOSTON MA 02127 13275 0 X WWW.PARACLETE.ORG X 1996 MA TO ENRICH THE LIVES OF YOUNG PEOPLE AND THEIR COMMUNITIES THROUGH EDUCATION 8 8 0 0 1650 86 6250 11612 0 0 11 13 7459 1650 13720 13275 4900 0 0 0 634 3233 0 0 0 83854 66866 89388 70099 -75668 -56824 1858683 1790568 37230 27249 1821453 1763319 X TO ENRICH THE LIVES OF YOUNG PEOPLE AND THEIR COMMUNITIES THROUGH EDUCATION 0 0 70099 THE ORGANIZATION SUSPENDED DAY TO DAY OPERATIONS AT THE END OF 2020 DUE TO STAFFING AND FUNDRAISING CHALLENGES BROUGHT ON BY THE COVID 19 PANDEMIC. THE ORGANIZATION DID NOT HAVE EMPLOYEES DURING THE YEARS 2021 TO 2023. THE BOARD HAS CONTINUED TO MEET ON A REGULAR BASIS AND ENGAGED A NON-PROFIT CONSULTANT IN 2021 TO DEVELOP A STRATEGIC PLAN FOR THE ORGANIZATION, WHICH RESULTED IN A VOTE TO SELL THE REAL ESTATE ASSETS OF THE ORGANIZATION AND USE THE SALE PROCEEDS TO FUND SCHOLARSHIPS FOR YOUTH IN THE CITY OF BOSTON. A PURCHASE OPTION AGREEMENT WAS SIGNED ON APRIL 29, 2022 WITH ANOTHER NON-PROFIT ORGANIZATION AND IS SUBJECT TO VARIOUS CONTINGENCIES FOR THE BUYER'S PERMITTING AND FINANCING. THE SALE DID NOT CLOSE BY THE END OF DECEMBER 31, 2023, BUT THE ORGANIZATION REMAINS UNDER CONTRACT. THE SALE OF THE REAL ESTATE ASSETS DID OCCUR IN THE SECOND QUARTER OF 2024. INCLUDED HERE ARE EXPENSES GENERALLY RELATED TO THE ONGOING COSTS FOR THE BUILDING. 70099 1 1 0 0 0 0 0 0 0 0 1 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 0 0 1 1 0 0 0 0 0 0 0 0 0 X 8 8 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 MA X X NAGIB CHARLES 2022584249 11 FAIRMONT AVE SUITE 108 HYDE PARK MA 02136 X NAVIL CHARLES CLERK 2.00 X X 0 0 0 NAGIB CHARLES TREASURER 2.00 X X 0 0 0 ANNA DAIDONE BOARD MEMBER 2.00 X 0 0 0 BARRY HYNES BOARD MEMBER 2.00 X 0 0 0 PETER GELZINIS PRESIDENT 2.00 X X 0 0 0 CHRISTINE MCCONVILLE BOARD MEMBER 2.00 X 0 0 0 ARTHUR MURPHY BOARD MEMBER 2.00 X 0 0 0 CATHY O'FLAHERTY BOARD MEMBER 2.00 X 0 0 0 0 0 0 0 0 0 0 0 11612 11612 13 13 1650 0 1650 1650 1650 13275 0 1650 13 3233 3233 699 699 1560 1560 62998 62998 839 839 MA INCOME TAX 564 564 BANK CHARGES 170 170 E-COMMERCE CHARGES 36 36 70099 70099 0 0 4415 237 738 12 2779341 989022 1853317 1790319 213 0 1858683 1790568 22230 12249 15000 15000 37230 27249 X 1821353 1763319 100 0 1821453 1763319 1858683 1790568 X -56824 -1310 X 0 0 0 X 284905 121282 50160 6250 13262 475859 284905 121282 50160 6250 13262 475859 29283 446576 54 33 9 11 13 120 2782 5225 14300 6909 0 29216 2521 28119 30640 535835 0.83340 0.89400 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER - 2019 AMOUNT: $ 2,521. 2021 AMOUNT: $ 8,718. SBA LOAN FORGIVENESS - 2021 AMOUNT: $ 19,401. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 245900 245900 2119735 810354 1309381 413706 178668 235038 1790319 FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS NAVIL CHARLES AND NAGIB CHARLES ARE BROTHERS. FORM 990, PART VI, SECTION B, LINE 11B THE IRS FORM 990 IS REVIEWED WITH THE ACCOUNTANT BY THE PRESIDENT AND TREASURER AND PROVIDED TO ALL BOARD MEMBERS PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE ON STATE WEBSITES AND FROM THE ORGANIZATION UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: FEDERAL INCOME TAXES PAID -1,311. ROUNDING 1.