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Nonprofiteer
← MIRACLEPLACE PASCO TAMPA INITIATIVE INC

Form 990 for tax year 2022

Filed by MIRACLEPLACE PASCO TAMPA INITIATIVE INC.

Totals

Total revenue
$0
Total expenses
$31,625
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$31,625
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$31,625

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.

Functional expenses

Part IX, the statement of functional expenses.

  • 22 · Depreciation, depletion and amortization

    total $31,625 · program services $31,625

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $0

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $12,937,133 · end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $12,937,133 · end of year $0

Mission and programs · 2022

Mission

TO ACT AS A SUPPORTING ORGANIZATION OF METROPOLITAN MINISTRIES, INC., A FLORIDA NOT-FOR-PROFIT CORPORATION.

  • MIRACLEPLACE PASCO-TAMPA INITIATIVE, INC. SUPPORTS METROPOLITAN MINISTRIES BY USE OF FEDERAL AND STATE NEW MARKETS TAX CREDITS FOR DEVELOPMENT AND RENOVATION OF QUALIFIED LOW-INCOME COMMUNITY INVESTMENTS. MIRACLEPLACE PASCO-TAMPA INITIATIVE, INC. COMPLETED A NEW MARKETS TAX CREDITS TRANSACTION IN 2015 TO PROVIDE FUNDS TO FINANCE THE EXPANSION AND DEVELOPMENT IN PASCO, FLORIDA OF A NEW TRANSITIONAL HOUSING FACILITY FOR THE HOMELESS AND THOSE AT RISK OF BECOMING HOMELESS." IN FISCAL 2021 METROPOLITAN MINISTRIES SUCCCESSFULLY COMPLETED THE UNWIND OF THE NEW MARKETS TAX CREDIT TRANSACTION LEADING TO THE CREATION OF MIRACLEPLACE PASCO-TAMPA INITIATIVE, INC. THE GENEROUS PARTNERSHIP OF WHITNEY HANCOCK BANK, CHASE BANK, AND THE FLORIDA COMMUNITY LOAN FUND SUPPORTED THE CONSTRUCTION OF THE RESIDENTIAL FACILITY PROVIDING SHELTER AND WRAP AROUND SERVICES TO OVER 50 FAMILES PER YEAR AND HOUSING COUNSELING PROGRAMS. THE EXERCISE OF PUT OPTIONS TO UNWIND THE TRANSACTION RESULTED IN ELIMINATION BY FORGIVENESS OF OVER $15 MILLION IN LIABILITY AND NON-CASH NET PROCEEDS OF $6 MILLION.

    Expenses $31,625

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tim Marks

    PRESIDENT

    Total calculated
    $210,264
    From this org
    $0
    From related orgs
    $194,145
    Other
    $16,119
    Hours/week
    1 + 53 related

    Schedule J breakdown matched by us

    Base
    $0 + $194,145 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,800 related
    Nontaxable benefits
    $0 + $8,319 related
    Filer's total
    $0 + $210,264 related

  • Chris Christenberry

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Stacy Wagner

    TREASURER

    Total calculated
    $154,822
    From this org
    $0
    From related orgs
    $134,596
    Other
    $20,226
    Hours/week
    1 + 53 related

    Schedule J breakdown matched by us

    Base
    $0 + $134,596 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,584 related
    Nontaxable benefits
    $0 + $14,642 related
    Filer's total
    $0 + $154,822 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

  • METROPOLITAN MINISITRIES INC

    $12,905,508

    Liquidation · BUILDING AND IMPROVEMENTS · Jul 1, 2020

Provenance

Return type
form_990
Tax year
2022
Filed
29 January 2024
IRS schema version
2022v5.0
Source object
202410309349300021

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