Form 990 for tax year 2025
Filed by MEMORIAL COMMUNITY DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $3,440,324
- Total expenses
- $3,905,344
- Contributions and grants received
- $2,477,547
- Grants paid
- $0
- Program service revenue
- $911,385
- Investment income
- $40,646
- Other revenue
- $10,746
- Total assets, end of year
- $7,822,516
- Total liabilities, end of year
- $333,908
- Net assets or fund balances, end of year
- $7,488,608
- Program services expenses (Part IX)
- $3,905,344
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $3,905,344
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.
-
1e · Government grants (contributions)
$1,622,227
-
1f · All other contributions, gifts and grants
$855,320
-
2a · Program service revenue: PROPERTYMANAGEMENT
total $911,385 · related or exempt $911,385
-
3 · Investment income
total $40,646 · related or exempt $40,646
-
11a · Other revenue: SHARED EXPENSES
total $10,746 · related or exempt $10,746
-
11e · Other revenue, total
$10,746
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $248,540 · program services $248,540
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $963,578 · program services $963,578
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $92,727 · program services $92,727
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $3,767 · program services $3,767
-
11c · Fees: accounting
total $42,395 · program services $42,395
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $11,455 · program services $11,455
-
13 · Office expenses
total $15,038 · program services $15,038
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $417,083 · program services $417,083
-
17 · Travel
total $10,232 · program services $10,232
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $20,063 · program services $20,063
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $141,688 · program services $141,688
-
23 · Insurance
total $82,459 · program services $82,459
-
24a · Other expenses: BANK CHARGES
total $1,573 · program services $1,573
-
24b · Other expenses: PROGRAMS
total $1,760,817 · program services $1,760,817
-
24c · Other expenses: Property Taxes
total $71,569 · program services $71,569
-
24d · Other expenses: DONATION
total $22,360 · program services $22,360
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,072,327 · end of year $2,304,418
-
4 · Accounts receivable
beginning of year $176,185 · end of year $14,391
-
10a · Land, buildings and equipment: cost or other basis
$9,131,912
-
10b · Land, buildings and equipment: accumulated depreciation
$5,530,537
-
10c · Land, buildings and equipment, net
beginning of year $3,719,870 · end of year $3,601,375
-
15 · Other assets
beginning of year $1,389,316 · end of year $1,902,332
-
17 · Accounts payable and accrued expenses
beginning of year $54,203 · end of year $59,431
-
23 · Secured mortgages and notes payable
beginning of year $357,114 · end of year $274,477
-
27 · Net assets without donor restrictions
beginning of year $2,899,807 · end of year $2,899,807
-
28 · Net assets with donor restrictions
beginning of year $5,046,574 · end of year $4,588,801
Mission and programs · 2025
Mission
PROVIDING LOW INCOME SERVICES TO INDIVIDUALS AND JOB TRAINING.
Activities or mission (Part I)
THE DEVELOPMENT AND MANAGEMENT OF LOW INCOME HOUSING AND ECONOMIC DEVELOPMENT.
-
NEIGHBORHOOD DEVELOPMENT
Expenses $2,500,661 · Revenue $2,035,641
-
CHILDCARE
Expenses $448,667 · Revenue $448,667
As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
ADRIAN BROOKS
CHAIRMAN
- Total calculated
- $141,480
- From this org
- $141,480
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40 + 20 related
-
SERITA CABELL
EXECUTIVE DIRECTOR
- Total calculated
- $107,060
- From this org
- $107,060
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40 + 5 related
-
TALMADGE VICK II
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
SHAYLA OSBORNE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
ARLINDA PAYNE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
ROBERT MCNARY
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
MARCIA LYNCH-DUNCAN
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
ANGEL BROOKS
TREASURER
- Total calculated
- $0
- Hours/week
- 5
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.
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 23 July 2026
- IRS schema version
- 2025v4.1
- Source object
- 202622049349301252
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