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Nonprofiteer
← MARBURY TERRACE INC

Form 990 for tax year 2022

Filed by MARBURY TERRACE INC.

Totals

Total revenue
$978,386
Total expenses
$1,153,704
Contributions and grants received
$167,200
Grants paid
$0
Program service revenue
$817,838
Investment income
-$6,652
Other revenue
$0
Total assets, end of year
$26,492,551
Total liabilities, end of year
$19,924,649
Net assets or fund balances, end of year
$6,567,902
Program services expenses (Part IX)
$837,441
Management and general expenses
$316,263
Fundraising expenses
$0
Program service expenses (Part III)
$837,441

Program services were 72.6% 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.

  • 1d · Related organizations

    $167,200

  • 1g · Noncash contributions included above

    $167,200

  • 2a · Program service revenue: RENTAL INCOME

    total $817,838 · related or exempt $817,838

  • 3 · Investment income

    total $3,299 · excluded $3,299

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

    other assets $9,951

  • 7c · Gain or loss

    other assets -$9,951

  • 7d · Net gain or loss

    total -$9,951 · excluded -$9,951

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $246,840 · management and general $246,840

  • 22 · Depreciation, depletion and amortization

    total $836,639 · program services $836,639

  • 24a · Other expenses: FINANCING FEES

    total $69,423 · management and general $69,423

  • 24b · Other expenses: LICENSE, PERMIT AND FEE

    total $802 · program services $802

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $28,194 · end of year $40,555

  • 2 · Savings and temporary cash investments

    beginning of year $395,796 · end of year $301,510

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

    $29,568,583

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

    $5,745,602

  • 10c · Land, buildings and equipment, net

    beginning of year $24,502,372 · end of year $23,822,981

  • 15 · Other assets

    beginning of year $1,691,667 · end of year $2,327,505

  • 23 · Secured mortgages and notes payable

    beginning of year $19,838,609 · end of year $19,888,449

  • 25 · Other liabilities

    beginning of year $36,200 · end of year $36,200

  • 27 · Net assets without donor restrictions

    beginning of year $6,743,220 · end of year $6,567,902

Mission and programs · 2022

Mission

REAL ESTATE DEVELOPMENT FOR COMMUNITY SERVINGS, INC.

  • TO SUPPORT THE OPERATIONS OF COMMUNITY SERVINGS, INC. BY HOLDING REAL ESTATE AND THE RELATED DEBT.

    Expenses $837,441 · Revenue $817,838

As filed on the 2022 return.

Listed in Part VII

  • Richard Olson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carl Axelrod

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Maureen Goggin

    CLERK

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Peter Zane

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • David Waters

    PRESIDENT

    Total calculated
    $333,853
    From this org
    $0
    From related orgs
    $287,082
    Other
    $46,771
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $287,082 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $14,194 related
    Nontaxable benefits
    $0 + $32,577 related
    Filer's total
    $0 + $333,853 related

  • Silifata Wallace

    CHIEF FINANCIAL OFFICER

    Total calculated
    $110,563
    From this org
    $0
    From related orgs
    $94,308
    Other
    $16,255
    Hours/week
    1 + 40 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

None.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
7 April 2024
IRS schema version
2022v5.0
Source object
202401019349300845

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