Totals
- Total revenue
- $6,041,263
- Total expenses
- $5,577,187
- Contributions and grants received
- $2,332,466
- Grants paid
- $316,217
- Program service revenue
- $2,970,412
- Investment income
- $80,046
- Other revenue
- $658,339
- Total assets, end of year
- $14,466,741
- Total liabilities, end of year
- $3,043,347
- Net assets or fund balances, end of year
- $11,423,394
- Program services expenses (Part IX)
- $5,375,986
- Management and general expenses
- $184,153
- Fundraising expenses
- $17,048
- Program service expenses (Part III)
- $5,375,986
Program services were 96.4% 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)
$578,054
-
1f · All other contributions, gifts and grants
$1,754,412
-
2a · Program service revenue: Construction Grants
total $2,786,878 · related or exempt $2,786,878
-
2b · Program service revenue: Developer Fee
total $100,000 · related or exempt $100,000
-
2c · Program service revenue: Program Service
total $83,534 · related or exempt $83,534
-
3 · Investment income
total $89,243 · related or exempt $27,906 · excluded $61,337
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $543,143
-
6c · Rental income or loss
real property $543,143
-
6d · Net rental income or loss
total $543,143 · related or exempt $543,143
-
7a · Gross sales of assets other than inventory
securities $22,000
-
7b · Less cost or other basis and sales expenses
securities $31,197
-
7c · Gain or loss
securities -$9,197
-
7d · Net gain or loss
total -$9,197 · related or exempt -$9,197
-
8a · Fundraising events: gross income
$25,163
-
8b · Fundraising events: direct expenses
$13,639
-
8c · Net income from fundraising events
total $11,524 · excluded $11,524
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Miscellaneous Income
total $103,672 · related or exempt $103,672
-
11e · Other revenue, total
$103,672
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $316,217 · program services $316,217
-
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 $280,703 · program services $248,899 · management and general $29,109 · fundraising $2,695
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,018,992 · program services $903,541 · management and general $105,669 · fundraising $9,782
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $19,335 · program services $17,144 · management and general $2,005 · fundraising $186
-
10 · Payroll taxes
total $109,078 · program services $95,744 · management and general $12,204 · fundraising $1,130
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $479,934 · program services $472,933 · management and general $6,408 · fundraising $593
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $107,442 · program services $96,215 · management and general $10,276 · fundraising $951
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $12,052 · program services $10,693 · management and general $1,244 · fundraising $115
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $14,555 · program services $13,580 · management and general $893 · fundraising $82
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $230,924 · program services $228,826 · management and general $1,920 · fundraising $178
-
23 · Insurance
total $130,571 · program services $125,428 · management and general $4,707 · fundraising $436
-
24a · Other expenses: Program development
total $2,318,319 · program services $2,318,319
-
24b · Other expenses: Utilities
total $205,336 · program services $202,342 · management and general $2,740 · fundraising $254
-
24c · Other expenses: Other Apartment Expenses
total $193,915 · program services $193,915
-
24d · Other expenses: Real Estate Taxes
total $79,471 · program services $78,303 · management and general $1,069 · fundraising $99
-
24e · All other expenses
total $60,343 · program services $53,887 · management and general $5,909 · fundraising $547
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $228,710 · end of year $328,506
-
2 · Savings and temporary cash investments
beginning of year $2,188,585 · end of year $1,831,321
-
3 · Pledges and grants receivable
beginning of year $2,008,449 · end of year $2,484,022
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $225,944 · end of year $226,793
-
8 · Inventories for sale or use
beginning of year $3,100 · end of year $3,326
-
9 · Prepaid expenses and deferred charges
beginning of year $21,861 · end of year $12,990
-
10a · Land, buildings and equipment: cost or other basis
$10,804,382
-
10b · Land, buildings and equipment: accumulated depreciation
$1,856,404
-
10c · Land, buildings and equipment, net
beginning of year $7,677,333 · end of year $8,947,978
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
beginning of year $240,489 · end of year $604,836
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $1,240,038 · end of year $26,969
-
17 · Accounts payable and accrued expenses
beginning of year $1,211,831 · end of year $1,836,321
-
23 · Secured mortgages and notes payable
beginning of year $1,126,684 · end of year $671,417
-
25 · Other liabilities
beginning of year $500,065 · end of year $535,609
-
27 · Net assets without donor restrictions
beginning of year $9,507,500 · end of year $9,686,856
-
28 · Net assets with donor restrictions
beginning of year $1,488,429 · end of year $1,736,538
Mission and programs · 2022
Mission
MON VALLEY INITIATIVE IS A REGIONAL COMMUNITY DEVELOPMENT CORPORATION REPRESENTING COMMUNITIES AND STAKEHOLDERS ALONG THE MONONGAHELA RIVER AND ITS TRIBUTARIES IN THREE SOUTHWESTERN PENNSYLVANIA COUNTIES. MVI IS ORGANIZED INTO THREE PROGRAM AREAS, TO BEST CARRY OUT ITS MISSION OF "MON VALLEY INITIATIVE STRENGHENS THE MON VALLEY REGION BY RESPONSIBLY INVESTING IN OUR PEOPLE AND PLACES". THE THREE PROGRAM AREAS ARE REAL ESTATE AND COMMUNITY DEVELOPMENT, HOUSING COUNSELING AND WORKFORCE DEVELOPMENT AND FINANCIAL COACHING.
Activities or mission (Part I)
The Mon Valley Initiative is a grass-roots, regional community development corporation, organized to carry out its mission of Mon Valley Initiative strengthens the Mon Valley region by responsibly investing in our people and places"
-
Real Estate: The purpose of MVIs Real Estate Development Program is to help rebuild the fabric of MVIs member communities, thereby stabilizing both the built environment and property values, maintaining the tax base, and promoting a culture of public safety and community confidence. MVI provides direct real estate development services through existing programs including Rehab for Resale (acquisition, renovation and resale of existing blighted and vacant properties), new construction housing in targeted areas, owner-occupied rehabs, residential rental development, the development of strategic commercial spaces in targeted business districts, and various complementary initiatives in community planning, zoning and marketing outreach. MVI and its locally-based partners have now completed construction, redevelopment or facilitated the transfer of 675 units of housing, with 20 units in predevelopment.
Expenses $4,118,529
-
Housing Counseling The Mon Valley Initiative National Intermediary is a HUD-approved national housing counseling intermediary that provides administrative services, housing counseling funding, and performance monitoring services to a national network of sub-grantee agencies. The agencies in turn provide eligible housing counseling services to participants in their local areas. During the 2022 HUD fiscal year, the agencies provided housing counseling to 7,900 households. MVIs Housing Counseling Program is a sub-grantee agency of The Mon Valley Initiative National Intermediary. The purpose of MVIs pre-purchase housing counseling program is to educate and assist individuals and families, with low and moderate incomes, in the process of obtaining an affordable mortgage to facilitate the purchase of a home. MVI provides credit and budget analyses, and HUD- and PHFA-approved housing counseling action plans to bring participants to mortgage-readiness. MVI also coordinates services with several other housing counseling agencies in our area. During 2022, MVIs Housing Counseling Program provided assistance to 102 participants through pre-purchase housing counseling. Of those receiving pre-purchase counseling, 32 went on to become homeowners.
Expenses $489,427
-
Workforce Development and Financial Coaching The purpose of MVIs Workforce Development and Financial Coaching program is to increase the income levels and financial self-sufficiency of local residents through effective career development services and financial coaching, assisting the unemployed and under-employed to advance. In addition to the assistance provided to participants, the team works with local employers to understand their human resource needs. MVI provides direct services to participants through basic career counseling, financial coaching, classroom work, seminars, and pre- and post-employment case management. MVI also works with Mon Valley employers to identify skill requirements and employment opportunities, and to make connections on behalf of MVIs participants. In addition to direct recruitment and job fairs, employers volunteer presenting in career exploration workshops and doing practice interviews with participants. In 2022, MVI served 398 participants. Served is defined as meeting a program milestone: enrolled, completed the program, obtained employment, or maintained employment for at least six months. During the year, 233 participants enrolled in MVIs career development planning process, 58% of which gained employment. During the year, 55 unique employers and trainers participated in Job Clubs. Of those served, 90% continued with MVIs one-on-one financial coaching program. We are also pleased to report that 121 people were able to increase their net income.
Expenses $393,657
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Laura Zinski
CEO
- Total calculated
- $112,000
- From this org
- $112,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Joey-Linn Ulrich
COO
- Total calculated
- $87,434
- From this org
- $87,434
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
April Hoover
CFO
- Total calculated
- $81,269
- From this org
- $81,269
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Lindsey Coy
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Jebediah Feldman
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Terry Ward
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Mary Carol Kennedy
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Barata Bey
Vice Chair
- Total calculated
- $0
- Hours/week
- 2
-
Tyler Reeder
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Dale Bizub
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Barbara LaFace
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Jane Flaherty
Secretary
- Total calculated
- $0
- Hours/week
- 2
-
Joseph P Flynn Jr
Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Richard Wallace
Board Member
- 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.
Grants on this return
-
$70,000
HOUSING COUNSELING
-
$35,000
HOUSING COUNSELING
-
HOUSING OPPORTUNITIES - FT WORTH
$34,917
HOUSING COUNSELING
-
INTERFAITH COMMUNITY HOUSING DE
$28,000
HOUSING COUNSELING
-
FAIRMONT-MORGANTOWN HOUSING A
$22,525
HOUSING COUNSELING
-
$16,148
HOUSING COUNSELING
-
NORTH FORK HOUSING ALLIANCE INC
$12,690
HOUSING COUNSELING
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.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
North East Housing Associates
Real Estate · PA · 99% owned · share of income -$77,454 · share of assets -$273,699
Directly controlled by MVI
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
North East Housing Corporation
C corp · Real Estate · PA · 100% owned · share of income -$782 · share of assets -$2,765
Directly controlled by MVI
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 16 August 2023
- IRS schema version
- 2022v5.0
- Source object
- 202322289349300632
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