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← MATTHEWS PARK HOUSING CORPORATION

Form 990 for tax year 2023

Filed by MATTHEWS PARK HOUSING CORPORATION.

Totals

Total revenue
$395,559
Total expenses
$396,438
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$395,487
Investment income
$72
Other revenue
$0
Total assets, end of year
$1,157,636
Total liabilities, end of year
$634,506
Net assets or fund balances, end of year
$523,130
Program services expenses (Part IX)
$396,438
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$396,438

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.

  • 2a · Program service revenue: RENTAL INCOME

    total $395,487 · related or exempt $395,487

  • 3 · Investment income

    total $72 · excluded $72

Functional expenses

Part IX, the statement of functional expenses.

  • 22 · Depreciation, depletion and amortization

    total $54,874 · program services $54,874

  • 23 · Insurance

    total $31,827 · program services $31,827

  • 24a · Other expenses: MAINTENANCE & OPERATING

    total $165,079 · program services $165,079

  • 24b · Other expenses: ADMINISTRATIVE

    total $81,143 · program services $81,143

  • 24c · Other expenses: UTILITIES

    total $29,206 · program services $29,206

  • 24d · Other expenses: REAL ESTATE TAXES

    total $26,533 · program services $26,533

  • 24e · All other expenses

    total $7,776 · program services $7,776

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $79,515 · end of year $133,181

  • 2 · Savings and temporary cash investments

    beginning of year $549,945 · end of year $572,242

  • 4 · Accounts receivable

    beginning of year $21,092 · end of year $4,700

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,760 · end of year $19,591

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

    $1,761,084

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

    $1,333,162

  • 10c · Land, buildings and equipment, net

    beginning of year $415,609 · end of year $427,922

  • 17 · Accounts payable and accrued expenses

    beginning of year $32,678 · end of year $83,305

  • 19 · Deferred revenue

    beginning of year $3,664 · end of year $22,800

  • 23 · Secured mortgages and notes payable

    beginning of year $520,000 · end of year $520,000

  • 25 · Other liabilities

    beginning of year $9,570 · end of year $8,401

  • 27 · Net assets without donor restrictions

    beginning of year $524,009 · end of year $523,130

Mission and programs · 2023

Mission

MATTHEWS PARK HOUSING CORPORATION IS A NONPROFIT CORPORATION ORGANIZED TO ACQUIRE AND OPERATE A 24 UNIT APARTMENT BUILDING IN MINNEAPOLIS, MN FOR LOW AND MODERATE INCOME PERSONS UNDER A PROGRAM OF THE MN HOUSING FINANCE AGENCY.

  • TO OWN AND OPERATE A 24-UNIT APARTMENT BUILDING IN MINNEAPOLIS, MINNESOTA.

    Expenses $396,438 · Revenue $395,487

As filed on the 2023 return.

Listed in Part VII

  • Andrew Hestness

    PRESIDENT

    Total calculated
    $162,062
    From this org
    $0
    From related orgs
    $146,300
    Other
    $15,762
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $146,300 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $15,762 related
    Filer's total
    $0 + $162,062 related

  • Sheldon Mains

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Claudia Klinkhammer

    SECRETARY AND TREASURER

    Total calculated
    $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. 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.

  • SEWARD REDESIGN INC

    501(C)(3) · COMMUNITY DEVELOPMENT · MN

    Directly controlled by SEWARD REDESIGN INC

Provenance

Return type
form_990
Tax year
2023
Filed
17 October 2024
IRS schema version
2023v5.1
Source object
202442959349300744

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