Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $112,976

• 1g · Noncash contributions included above

  $11,749

• 2a · Program service revenue: Low Income Housing

  total $990,889 · related or exempt $990,889

• 2b · Program service revenue: Other Program Services

  total $305,538 · related or exempt $305,538

• 3 · Investment income

  total $989,843 · excluded $989,843

• 7a · Gross sales of assets other than inventory

  securities $26,112,243

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

  securities $23,282,138

• 7c · Gain or loss

  securities $2,830,105

• 7d · Net gain or loss

  total $2,830,105 · excluded $2,830,105

• 11a · Other revenue: Development fee

  total $97,500 · related or exempt $97,500

• 11b · Other revenue: Recoverable Grant

  total $81,500 · related or exempt $81,500

• 11c · Other revenue: Other Income

  total $17,354 · related or exempt $17,354

• 11e · Other revenue, total

  $196,354

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,085,812 · program services $1,085,812

• 2 · Grants to domestic individuals

  total $20,000 · program services $20,000

• 5 · Compensation of officers, directors and key employees

  total $605,882 · program services $236,132 · management and general $305,354 · fundraising $64,396

• 7 · Other salaries and wages

  total $422,696 · program services $264,332 · management and general $147,644 · fundraising $10,720

• 8 · Pension plan contributions

  total $37,833 · program services $19,765 · management and general $16,895 · fundraising $1,173

• 9 · Other employee benefits

  total $139,203 · program services $81,965 · management and general $52,361 · fundraising $4,877

• 10 · Payroll taxes

  total $63,259 · program services $31,947 · management and general $27,264 · fundraising $4,048

• 11a · Fees: management

  total $132,314 · management and general $132,314

• 11b · Fees: legal

  total $49,657 · program services $15,294 · management and general $34,363

• 11c · Fees: accounting

  total $64,009 · management and general $64,009

• 11f · Fees: investment management

  total $146,000 · management and general $146,000

• 11g · Fees: other

  total $551,333 · program services $543,697 · management and general $6,332 · fundraising $1,304

• 13 · Office expenses

  total $80,588 · program services $9,521 · management and general $57,122 · fundraising $13,945

• 14 · Information technology

  total $45,925 · program services $20,536 · management and general $22,107 · fundraising $3,282

• 16 · Occupancy

  total $523,064 · program services $439,049 · management and general $74,057 · fundraising $9,958

• 17 · Travel

  total $4,786 · program services $484 · management and general $3,999 · fundraising $303

• 19 · Conferences, conventions and meetings

  total $38,364 · program services $24,944 · management and general $13,420

• 20 · Interest

  total $7,684 · program services $557 · management and general $7,127

• 22 · Depreciation, depletion and amortization

  total $282,177 · program services $279,289 · management and general $2,888

• 23 · Insurance

  total $319,082 · program services $287,473 · management and general $31,609

• 24a · Other expenses: Repairs & Maintenance

  total $360,593 · program services $360,593

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $137,763 · end of year $89,912

• 2 · Savings and temporary cash investments

  beginning of year $1,264,833 · end of year $972,108

• 4 · Accounts receivable

  beginning of year $159,192 · end of year $692,256

• 7 · Other notes and loans receivable

  beginning of year $108,004 · end of year $89,700

• 9 · Prepaid expenses and deferred charges

  beginning of year $121,145 · end of year $193,187

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

  $8,542,518

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

  $4,852,650

• 10c · Land, buildings and equipment, net

  beginning of year $3,778,560 · end of year $3,689,868

• 11 · Investments: publicly traded securities

  beginning of year $43,202,526 · end of year $44,293,753

• 15 · Other assets

  beginning of year $505,201 · end of year $402,363

• 17 · Accounts payable and accrued expenses

  beginning of year $548,297 · end of year $818,456

• 18 · Grants payable

  beginning of year $244,173 · end of year $242,500

• 19 · Deferred revenue

  beginning of year $21,513 · end of year $14,363

• 21 · Escrow or custodial account liability

  beginning of year $1,143,777 · end of year $1,119,934

• 23 · Secured mortgages and notes payable

  beginning of year $8,101 · end of year $8,101

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $1,450,239 · end of year $1,461,139

• 27 · Net assets without donor restrictions

  beginning of year $40,583,346 · end of year $41,260,275

• 28 · Net assets with donor restrictions

  beginning of year $5,277,778 · end of year $5,498,379

The filer's explanations (Part III)

Part 1 Line 1a and line 2

The Executive Director/CEO of the UMCS is a United Methodist clergy person and as such is entitled to a non-taxable housing allowance. The IRS (Publiction 517) allows clergy to designate a certain amount of their compensation as a non-taxable housing allowance. The Board approves this amount annually.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• UM 104th Street LLC

  realty holding company for low income housing · NY

  Directly controlled by United Methodist City Society

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Trinity-UMCS LLC

  C · Realty holding company for low income senior housing · DE · 100% owned · share of income $92,878 · share of assets $92,878

  Directly controlled by United Methodist City Society