Totals
- Total revenue
- $4,269,712
- Total expenses
- $2,517,630
- Contributions and grants received
- $740,317
- Grants paid
- $2,500,000
- Program service revenue
- $1,718,760
- Investment income
- $1,797,692
- Other revenue
- $12,943
- Total assets, end of year
- $14,386,694
- Total liabilities, end of year
- $359,169
- Net assets or fund balances, end of year
- $14,027,525
- Program services expenses (Part IX)
- $2,500,000
- Management and general expenses
- $17,630
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,500,000
Program services were 99.3% 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
$740,317
-
2a · Program service revenue: HOUSING PROJECT REVENUE
total $1,650,980 · related or exempt $1,650,980
-
2b · Program service revenue: FEE INCOME
total $67,780 · related or exempt $67,780
-
3 · Investment income
total $509,026 · excluded $509,026
-
7a · Gross sales of assets other than inventory
other assets $1,288,666
-
7b · Less cost or other basis and sales expenses
other assets $0
-
7c · Gain or loss
other assets $1,288,666
-
7d · Net gain or loss
total $1,288,666 · excluded $1,288,666
-
11a · Other revenue: MISCELLANEOUS INCOME
total $12,943 · related or exempt $12,943
-
11e · Other revenue, total
$12,943
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,500,000 · program services $2,500,000
-
11b · Fees: legal
total $415 · management and general $415
-
11c · Fees: accounting
total $17,215 · management and general $17,215
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $879,403 · end of year $491,240
-
7 · Other notes and loans receivable
beginning of year $8,705,852 · end of year $9,196,316
-
13 · Investments: program-related
beginning of year $3,424,936 · end of year $4,699,138
-
23 · Secured mortgages and notes payable
beginning of year $734,748 · end of year $359,169
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $12,275,443 · end of year $14,027,525
Mission and programs · 2022
Mission
TO PRESERVE AND EXTEND AFFORDABLE HOUSING THROUGH THE ACQUISITION AND OPERATION OF MULTIFAMILY RESIDENTIAL REAL ESTATE FOR LOW AND VERY LOW INCOME TENANTS.
Activities or mission (Part I)
PRESERVATION OF LOW-INCOME HOUSING
-
TO PRESERVICE AND EXTEND AFFORDABLE HOUSING THROUGH THE ACQUISITION AND OPERATION OF MULTIFAMILY RESIDENTIAL REAL ESTATE FOR LOW AND VERY LOW INCOME TENANTS.
Expenses $2,500,000 · Grants $2,500,000 · Revenue $1,731,703
As filed on the 2022 return.
Listed in Part VII
-
TIMOTHY V FOX
PRESIDENT
- Total calculated
- $656,509
- From this org
- $0
- From related orgs
- $626,009
- Other
- $30,500
- Hours/week
- 10 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $539,937 related
- Bonus
- $0 + $86,072 related
- Other
- $0
- Deferred
- $0 + $30,500 related
- Nontaxable benefits
- $0
- Filer's total
- $0 + $656,509 related
-
GREGORY J DEMARS
TREASURER (ENDED 6/18/22)
- Total calculated
- $52,500
- From this org
- $0
- From related orgs
- $52,500
- Other
- $0
- Hours/week
- 5 + 5 related
-
MARTHA J RICHARDSON
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5 + 5 related
-
STEVEN CHAMPA
SECRETARY
- Total calculated
- $0
- Hours/week
- 5 + 5 related
-
THOMAS EDMISTON
TREASURER (STARTED 6/18/22)
- Total calculated
- $0
- Hours/week
- 5 + 5 related
-
BRIAN GALLAHER
CHIEF FINANCIAL OFFICER
- Total calculated
- $512,908
- From this org
- $0
- From related orgs
- $455,076
- Other
- $57,832
- Hours/week
- 10 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $387,048 related
- Bonus
- $0 + $68,028 related
- Other
- $0
- Deferred
- $0 + $30,500 related
- Nontaxable benefits
- $0 + $27,332 related
- Filer's total
- $0 + $512,908 related
-
TIMOTHY A FOX
CHIEF OPERATING OFFICER
- Total calculated
- $328,260
- From this org
- $0
- From related orgs
- $310,596
- Other
- $17,664
- Hours/week
- 5 + 35 related
Schedule J breakdown matched by us
- Base
- $0 + $310,596 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $17,664 related
- Filer's total
- $0 + $328,260 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
The filer's explanations (Part III)
- PART I, LINE 3
- THE COMPENSATION OF THE CEO AND OTHER OFFICERS IS APPROVED BY THE BOARD OF, AND PAID BY, THE SUPPORTED ORGANIZATION MHT HOUSING, INC.
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
-
$2,500,000
GENERAL SUPPORT
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.
-
501(C)(3) · PRESERVATION OF LOW-INCOME HOUSING · MI
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
PRESERVATION OF LOW-INCOME HOUSING · MI · income $65,000 · assets $1,583
Directly controlled by MHT HOUSING IV INC
-
PRESERVATION OF LOW-INCOME HOUSING · MI · income $606,054 · assets $0
Directly controlled by MHT HOUSING IV INC
-
PRESERVATION OF LOW-INCOME HOUSING · MI · income $1,452 · assets $202,376
Directly controlled by MHT HOUSING IV INC
-
PRESERVATION OF LOW-INCOME HOUSING · MI · income $3 · assets $0
Directly controlled by MHT HOUSING IV INC
-
PRESERVATION OF LOW-INCOME HOUSING · WA · income -$5 · assets $11,989
Directly controlled by MHT HOUSING IV INC
-
PRESERVATION OF LOW-INCOME HOUSING · WA · income -$2 · assets $376
Directly controlled by MHT HOUSING IV INC
-
PRESERVATION OF LOW-INCOME HOUSING · MI · income $3,971 · assets $695
Directly controlled by MHT HOUSING IV INC
-
PRESERVATION OF LOW-INCOME HOUSING · MI · income $1,011,241 · assets $12,365,783
Directly controlled by MHT HOUSING IV INC
-
PRESERVATION OF LOW-INCOME HOUSING · MI · income -$483,151 · assets $3,169,927
Directly controlled by MHT HOUSING IV INC
-
PRESERVATION OF LOW-INCOME HOUSING · MI · income -$201,709 · assets -$287,481
Directly controlled by MHT HOUSING IV INC
-
PRESERVATION OF LOW-INCOME HOUSING · MI · income -$60,213 · assets -$54,931
Directly controlled by MHT HOUSING IV INC
-
PRESERVATION OF LOW-INCOME HOUSING · MI · income $323,987 · assets $0
Directly controlled by MHT HOUSING IV INC
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income $392
Directly controlled by MHT HOUSING IV INC
-
RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income -$327,125 · share of assets $9,723,068
Directly controlled by MHT HOUSING IV INC
-
JEFFERSON SQUARE IIMHT LDHA LLC
RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income -$271,991 · share of assets $9,319,867
Directly controlled by MHT HOUSING IV INC
-
RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income $3,066,658 · share of assets $3,169,927
Directly controlled by SW LP HOLDING INC
-
MCDONALD SQUARE IIMHT LDHA LLC
RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income -$201,739 · share of assets $6,840,485
Directly controlled by MHT HOUSING IV INC
-
RELATED · REAL ESTATE RENTAL · MI · 99% owned · share of income -$165,168 · share of assets $1,552,054
Directly controlled by MYSTIC VIEW MHT LP INC
-
RELATED · REAL ESTATE RENTAL · MI · 51% owned · share of income $3,971 · share of assets $695
Directly controlled by MHT PROPERTIES 121 LLC
-
RIVER TERRACE APARTMENTSMHT LDHA LP
RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income $7,223,830
Directly controlled by MHT HOUSING IV INC
-
RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income -$198,258 · share of assets $8,253,777
Directly controlled by MHT HOUSING IV INC
-
CALUMET IIMHT HOUSING LDHA LLC
RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income -$235,751 · share of assets $4,981,201
Directly controlled by MHT HOUSING IV INC
-
RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income -$54,931 · share of assets $1,324,901
Directly controlled by GOLDEN BRIDGE MHT LP INC
-
SPRINGWELLS PARTNERS II LDHA LP
RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income -$2,071,460
Directly controlled by SW LP HOLDING INC
-
SPRINGWELLS PARTNERS III LDHA LP
RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income -$1,478,349
Directly controlled by SW LP HOLDING INC
-
JEFFERSON MEADOWS-DETROIT LDHA LP
RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income -$323,987
Directly controlled by JEFFERSON MEADOWS LP INC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 31 January 2024
- IRS schema version
- 2022v5.0
- Source object
- 202400319349300820
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