Skip to content
Nonprofiteer
← MID AMERICA STUDENT HOUSING INC

Form 990 for tax year 2024

Filed by MID AMERICA STUDENT HOUSING INC.

Totals

Total revenue
$1,522,744
Total expenses
$1,472,462
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,352,110
Investment income
$170,634
Other revenue
$0
Total assets, end of year
$10,299,710
Total liabilities, end of year
$690,574
Net assets or fund balances, end of year
$9,609,136
Program services expenses (Part IX)
$1,472,462
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,472,462

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: Rent & Fees

    total $1,352,110 · related or exempt $1,352,110

  • 3 · Investment income

    total $170,634 · excluded $170,634

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

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

  • 11b · Fees: legal

    total $21 · program services $21

  • 11c · Fees: accounting

    total $28,325 · program services $28,325

  • 13 · Office expenses

    total $27,777 · program services $27,777

  • 20 · Interest

    total $289,569 · program services $289,569

  • 22 · Depreciation, depletion and amortization

    total $328,126 · program services $328,126

  • 23 · Insurance

    total $106,041 · program services $106,041

  • 24a · Other expenses: Repairs

    total $251,526 · program services $251,526

  • 24b · Other expenses: Payroll & Benefits

    total $233,644 · program services $233,644

  • 24c · Other expenses: Utilities

    total $69,781 · program services $69,781

  • 24d · Other expenses: Administrative Fee

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

  • 24e · All other expenses

    total $34,652 · program services $34,652

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $779,087 · end of year $348,465

  • 4 · Accounts receivable

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

  • 7 · Other notes and loans receivable

    beginning of year $4,168,211 · end of year $1,404,963

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,010 · end of year $3,736

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

    $13,713,201

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

    $5,324,221

  • 10c · Land, buildings and equipment, net

    beginning of year $8,634,556 · end of year $8,388,980

  • 14 · Intangible assets

    beginning of year $4,033 · end of year $2,566

  • 17 · Accounts payable and accrued expenses

    beginning of year $60,421 · end of year $56,318

  • 25 · Other liabilities

    beginning of year $4,120,620 · end of year $634,256

  • 27 · Net assets without donor restrictions

    beginning of year $9,558,856 · end of year $9,609,136

Mission and programs · 2024

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 $1,472,462 · Revenue $1,352,110

As filed on the 2024 return.

Listed in Part VII

  • Jimmie Williams

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Bill McGaughey

    Vice-Chairman

    Total calculated
    $0
    Hours/week
    1

  • Roland Maddox

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Judge Richard Proctor

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Ray Skinner

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Terry Brimhall

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Keith Noble

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dr Michael Spradlin

    President

    Total calculated
    $150,971
    From this org
    $0
    From related orgs
    $150,971
    Other
    $0
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $150,971 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $150,971 related

  • Dr Randy Redd

    Secretary

    Total calculated
    $118,557
    From this org
    $0
    From related orgs
    $118,557
    Other
    $0
    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

The filer's explanations (Part III)

Form 990, Sch J, Part II, Line 1
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
2024
Filed
23 October 2025
IRS schema version
2024v5.2
Source object
202502979349301635

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.