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Nonprofiteer
← MARTIN LUTHER TOWER INC

Form 990 for tax year 2023

Filed by MARTIN LUTHER TOWER INC.

Totals

Total revenue
$1,734,880
Total expenses
$1,725,239
Contributions and grants received
$205,870
Grants paid
$102,850
Program service revenue
$1,512,495
Investment income
$16,515
Other revenue
$0
Total assets, end of year
$15,804,752
Total liabilities, end of year
$7,272,099
Net assets or fund balances, end of year
$8,532,653
Program services expenses (Part IX)
$1,407,998
Management and general expenses
$317,241
Fundraising expenses
$0
Program service expenses (Part III)
$1,407,998

Program services were 81.6% 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.

  • 1f · All other contributions, gifts and grants

    $205,870

  • 2a · Program service revenue: SELLER NOTE INTEREST

    total $485,349 · related or exempt $485,349

  • 2b · Program service revenue: GROUND LEASE

    total $417,723 · related or exempt $417,723

  • 2c · Program service revenue: GROSS RENTAL INCOME

    total $341,610 · related or exempt $341,610

  • 2d · Program service revenue: OTHER REIMBURSEMENT

    total $194,502 · related or exempt $194,502

  • 2e · Program service revenue: MANAGEMENT FEE

    total $73,311 · related or exempt $73,311

  • 3 · Investment income

    total $16,106 · unrelated business $16,106

  • 7a · Gross sales of assets other than inventory

    securities $409

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $409

  • 7d · Net gain or loss

    total $409 · related or exempt $409

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $102,850 · program services $102,850

  • 11a · Fees: management

    total $72,167 · program services $72,167

  • 11b · Fees: legal

    total $790 · management and general $790

  • 11c · Fees: accounting

    total $90,758 · management and general $90,758

  • 12 · Advertising and promotion

    total $14,925 · management and general $14,925

  • 13 · Office expenses

    total $6,192 · program services $3,096 · management and general $3,096

  • 22 · Depreciation, depletion and amortization

    total $39,575 · program services $35,618 · management and general $3,957

  • 23 · Insurance

    total $50,001 · management and general $50,001

  • 24a · Other expenses: FLOW THROUGH LOSS

    total $874,979 · program services $874,979

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $143,950 · program services $143,950

  • 24c · Other expenses: GENERAL AND ADMINISTRAT

    total $132,844 · program services $55,717 · management and general $77,127

  • 24d · Other expenses: CONSULTING EXPENSE

    total $130,500 · program services $60,000 · management and general $70,500

  • 24e · All other expenses

    total $65,708 · program services $59,621 · management and general $6,087

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $108,026 · end of year $236,043

  • 2 · Savings and temporary cash investments

    beginning of year $12,859 · end of year $156,408

  • 7 · Other notes and loans receivable

    beginning of year $13,405,201 · end of year $14,554,311

  • 9 · Prepaid expenses and deferred charges

    beginning of year $92,060 · end of year $13,798

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

    $378,178

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

    $117,650

  • 10c · Land, buildings and equipment, net

    beginning of year $291,799 · end of year $260,528

  • 11 · Investments: publicly traded securities

    beginning of year $522,358 · end of year $583,664

  • 17 · Accounts payable and accrued expenses

    beginning of year $39,602 · end of year $44,725

  • 25 · Other liabilities

    beginning of year $5,913,413 · end of year $7,227,374

  • 27 · Net assets without donor restrictions

    beginning of year $8,479,288 · end of year $8,532,653

Mission and programs · 2023

Mission

THE CORPORATION IS THE GENERAL PARTNER OF A PARTNERSHIP THAT OPERATES A 121-UNIT APARTMENT COMPLEX THAT PROVIDES RENTAL HOUSING FOR THE BENEFIT OF ELDERLY RESIDENTS. RESIDENTS HAVE ACCESS TO SOME ACTIVITIES AND SOCIAL SERVICES.

Activities or mission (Part I)

THE CORPORATION PROVIDES HOUSING AND OTHER SERVICES TO SENIOR CITIZENS.

  • INTEREST INCOME AND INVESTMENT IN LOW INCOME HOUSING RENTAL REAL ESTATE, WHICH INCLUDES RESIDENT AND SOCIAL SERVICES FOR TENANTS.

    Expenses $1,407,998 · Grants $102,850 · Revenue $1,512,904

As filed on the 2023 return.

Listed in Part VII

  • Barbara Bock

    BOARD MEMBERS

    Total calculated
    $0
    Hours/week
    5

  • Barbara Engmann

    BOARD MEMBERS

    Total calculated
    $0
    Hours/week
    5

  • Jon Moeller

    BOARD MEMBERS

    Total calculated
    $0
    Hours/week
    5

  • Shannon Cheng

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Gerald Lundblad

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Susie Smith

    SECTRETARY

    Total calculated
    $0
    Hours/week
    5

  • Scott Taylor

    TREASURER

    Total calculated
    $0
    Hours/week
    10

  • Lyle Beckman

    BOARD MEMBERS

    Total calculated
    $0
    Hours/week
    5

  • Nancy Nielsen

    BOARD MEMBERS

    Total calculated
    $0
    Hours/week
    2

  • Richard Seefeldt

    BOARD MEMBERS

    Total calculated
    $0
    Hours/week
    2

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

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.

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.

  • MARTIN LUTHER TOWER LP

    RELATED · LOW-INCOME HOUSING RENTAL REAL ESTATE · CA · 0.01% owned · share of income -$585,280 · share of assets $9,760,568 · general or managing partner

  • 1031 FRANKLIN STREET LLC

    RELATED · LOW-INCOME HOUSING RENTAL REAL ESTATE · CA · 100% owned · share of income $78,271 · share of assets $6,151,191 · general or managing partner

  • ELLA ROHLFFS PLACE LP

    RELATED · LOW-INCOME HOUSING RENTAL REAL ESTATE · CA · 99.99% owned · share of assets $659,565 · general or managing partner

  • MLT ELLA ROHLFFS LLC

    RELATED · LOW-INCOME HOUSING RENTAL REAL ESTATE · CA · 100% owned · general or managing partner

Provenance

Return type
form_990
Tax year
2023
Filed
15 October 2024
IRS schema version
2023v5.1
Source object
202432929349301023

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