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Nonprofiteer
← MID AMERICA STUDENT HOUSING INC

Form 990 for tax year 2023

Filed by MID AMERICA STUDENT HOUSING INC.

Totals

Total revenue
$1,310,988
Total expenses
$1,319,536
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,072,578
Investment income
$238,410
Other revenue
$0
Total assets, end of year
$13,739,897
Total liabilities, end of year
$4,181,041
Net assets or fund balances, end of year
$9,558,856
Program services expenses (Part IX)
$1,319,536
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,319,536

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: GROSS POTENTIAL RENT

    total $1,364,773 · related or exempt $1,364,773

  • 2b · Program service revenue: PREP RENT(CUR FOR FUTURE MO)

    total $56,666 · related or exempt $56,666

  • 2c · Program service revenue: CABLE T.V. FEES - VENDORS

    total $17,280 · related or exempt $17,280

  • 2d · Program service revenue: GAIN/LOSS TO LEASE

    total $13,142 · related or exempt $13,142

  • 2e · Program service revenue: DAMAGE FEE

    total $11,358 · related or exempt $11,358

  • 2f · All other program service revenue

    total -$390,641 · related or exempt -$390,641

  • 3 · Investment income

    total $238,410 · excluded $238,410

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $48,000 · program services $48,000

  • 11c · Fees: accounting

    total $19,945 · program services $19,945

  • 13 · Office expenses

    total $22,266 · program services $22,266

  • 17 · Travel

    total $120 · program services $120

  • 20 · Interest

    total $255,487 · program services $255,487

  • 22 · Depreciation, depletion and amortization

    total $279,902 · program services $279,902

  • 23 · Insurance

    total $111,722 · program services $111,722

  • 24a · Other expenses: PAYROLL & BENEFITS

    total $175,412 · program services $175,412

  • 24b · Other expenses: REPAIRS

    total $147,190 · program services $147,190

  • 24c · Other expenses: UTILITIES

    total $88,844 · program services $88,844

  • 24d · Other expenses: SERVICE CHARGES

    total $55,000 · program services $55,000

  • 24e · All other expenses

    total $115,648 · program services $115,648

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,156,198 · end of year $779,087

  • 4 · Accounts receivable

    beginning of year $151,000 · end of year $151,000

  • 7 · Other notes and loans receivable

    beginning of year $2,113,401 · end of year $4,168,211

  • 9 · Prepaid expenses and deferred charges

    beginning of year $51,326 · end of year $3,010

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

    $12,513,480

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

    $4,997,563

  • 10c · Land, buildings and equipment, net

    beginning of year $7,733,169 · end of year $7,515,917

  • 14 · Intangible assets

    beginning of year $2,865 · end of year $4,033

  • 15 · Other assets

    beginning of year $1,118,639 · end of year $1,118,639

  • 17 · Accounts payable and accrued expenses

    beginning of year $55,248 · end of year $60,421

  • 25 · Other liabilities

    beginning of year $2,703,946 · end of year $4,120,620

  • 27 · Net assets without donor restrictions

    beginning of year $9,567,404 · end of year $9,558,856

Mission and programs · 2023

Mission

PROVIDE HOUSING FOR SEMINARY STUDENTS.

Activities or mission (Part I)

PROVIDE HOUSING FOR SEMINARY STUDENTS

  • PROVIDE APARTMENTS AVAILABLE FOR STUDENTS OF MID-AMERICA BAPTIST THEOLOGICAL SEMINARY.

    Expenses $1,319,536 · Revenue $1,072,578

As filed on the 2023 return.

Listed in Part VII

  • Dr Michael Spradlin

    PRESIDENT

    Total calculated
    $154,668
    From this org
    $0
    From related orgs
    $154,668
    Other
    $0
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $154,668 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $154,668 related

  • Dr Randy Redd

    SECRETARY

    Total calculated
    $117,715
    From this org
    $0
    From related orgs
    $117,715
    Other
    $0
    Hours/week
    1 + 40 related

  • Mr Terry Brimhall

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Curtiss Doss

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Eugene Howard

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Roland Maddox

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Bill McGaughey

    VICE-CHAIRMA

    Total calculated
    $0
    Hours/week
    1

  • Mr Keith Noble

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Judge Richard Proctor

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Ray Skinner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Jimmie Williams

    CHAIRMAN

    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

The filer's explanations (Part III)

SCHEDULE J, PART III
THE ORGANIZATION HAS NO EMPLOYEES, COMPENSATED OR OTHERWISE. THE EMPLOYEES LISTED ARE THOSE OF A RELATED ORGANIZATION, AND THE PAY LISTED IS THE PAY THEY RECEIVE FROM THAT RELATED ORGANIZATION.

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
2023
Filed
30 September 2024
IRS schema version
2023v5.0
Source object
202402749349301330

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