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← MOMENTUM HOUSING INC

Form 990 for tax year 2023

Filed by MOMENTUM HOUSING INC.

Totals

Total revenue
$334,856
Total expenses
$151,160
Contributions and grants received
$300
Grants paid
$0
Program service revenue
$0
Investment income
$334,556
Other revenue
$0
Total assets, end of year
$114,349
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$114,349
Program services expenses (Part IX)
$151,160
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$151,160

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $300

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    other assets $2,720,767

  • 7b · Less cost or other basis and sales expenses

    other assets $2,386,211

  • 7c · Gain or loss

    securities $0 · other assets $334,556

  • 7d · Net gain or loss

    total $334,556 · related or exempt $334,556

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $151,160 · program services $151,160

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $114,049 · end of year $114,349

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $2,386,211

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $2,569,607 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$69,347 · end of year $114,349

Mission and programs · 2023

Mission

TO PROVIDE SUPPORT FOR THE RELIEF OF THE POOR AND DISTRESSED, ELDERLY OR PHYSICALLY HANDICAPPED, COMBATTING COMMUNITY DETERIORATION, ELIMINATION OF DISCRIMINATION AND PREJUDICE, LESSENING THE BURDENS OF GOVERNMENT, LESSENING NEIGHBORHOOD TENSIONS, BY, BUT NOT LIMITED TO, PROVIDING LOW AND MODERATE INCOME AND WORKFORCE HOUSING AND RELATED BUILDING, REHABILITATION, AND CONSULTING SERVICES.

Activities or mission (Part I)

Support low income housing projects

  • TO PROVIDE LOW AND MODERATE INCOME AND WORKFORCE HOUSING AND RELATED BUILDING, REHABILITATION AND CONSULTING SERVICES.

    Expenses $151,160 · Revenue $334,556

As filed on the 2023 return.

Listed in Part VII

  • Dr James G O'Quinn

    VICE PRESIDENT & DIRECTOR

    Total calculated
    $3,600
    From this org
    $0
    From related orgs
    $3,600
    Other
    $0
    Hours/week
    1

  • Joe Thielecke

    TREASURER & DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Larry Dickenson

    PRESIDENT & DIRECTOR

    Total calculated
    $60,000
    From this org
    $0
    From related orgs
    $60,000
    Other
    $0
    Hours/week
    1

  • Rev Ernest Herndon Jr

    SECRETARY & DIRECTOR

    Total calculated
    $7,200
    From this org
    $0
    From related orgs
    $7,200
    Other
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Bedford United Methodist Housing LP

    Related · Low Income Housing · VA

    Directly controlled by Virginia United Methodist Housing Development Corporation

  • Louisa United Methodist Housing LP

    Related · Low Income Housing · VA

    Directly controlled by Virginia United Methodist Housing Development Corporation

  • Petersburg United Methodist Housing LP

    Related · Low Income Housing · VA

    Directly controlled by Virginia United Methodist Housing Development Corporation

  • Springhill United Methodist Housing LP

    Related · Low Income Housing · VA

    Directly controlled by Virginia United Methodist Housing Development Corporation

  • JOHN EARLY SENIORS HOUSING LP

    Related · Low Income Housing · VA

    Directly controlled by VUM BEDFORD HOUSING LLC

  • WESLEY LYNCHBURG HOUSING LP

    Related · Low Income Housing · VA

    Directly controlled by VUM LYNCHBURG HOUSING LLC

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413199349307346

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