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Nonprofiteer
← MAEF REAL ESTATE HOLDINGS INC

Form 990 for tax year 2022

Filed by MAEF REAL ESTATE HOLDINGS INC.

Totals

Total revenue
$186,035
Total expenses
$178,894
Contributions and grants received
$186,035
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$4,162,911
Total liabilities, end of year
$3,405,171
Net assets or fund balances, end of year
$757,740
Program services expenses (Part IX)
$178,894
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$178,894

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.

  • 1d · Related organizations

    $186,034

  • 1f · All other contributions, gifts and grants

    $1

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $176,517 · program services $176,517

  • 24a · Other expenses: BANK CHARGES

    total $2,377 · program services $2,377

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,694 · end of year $4,199

  • 7 · Other notes and loans receivable

    beginning of year $261,324 · end of year $28,255

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

    $4,130,457

  • 10c · Land, buildings and equipment, net

    beginning of year $3,897,387 · end of year $4,130,457

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,806 · end of year $28,016

  • 23 · Secured mortgages and notes payable

    beginning of year $3,400,000 · end of year $3,377,155

  • 27 · Net assets without donor restrictions

    beginning of year $750,599 · end of year $757,740

Mission and programs · 2022

Mission

TO CREATE, MANAGE, OPERATE, GUIDE, DIRECT, AND PROMOTE REAL ESTATE FOR ONE OR MORE ALABAMA PUBLIC CHARTER SCHOOLS CREATED PURSUANT TO THE ALABAMA SCHOOL CHOICE AND STUDENT OPPORTUNITY ACT TO SUPPORT PUBLIC EDUCATION FOR THE CITIZENS OF ALABAMA. TO CONDUCT FUTURE ACTIVITIES AS CIRCUMSTANCES MAY SUGGEST CONSISTENT WITH AFORSAID PURPOSES AND FURTHER, AND TO TRANSACT ANY AND ALL LAWFUL BUSINESS FOR WHICH NONPROFIT CORPORATIONS MAY BE INCORPARATED UNDER THE LAWS OF THE STATE OF ALABAMA.

  • TO CREATE, MANAGE, OPERATE, GUIDE, DIRECT, AND PROMOTE REAL ESTATE FOR ONE OR MORE ALABAMA PUBLIC CHARTER SCHOOLS CREATED PURSUANT TO THE ALABAMA SCHOOL CHOICE AND STUDENT OPPORTUNITY ACT TO SUPPORT PUBLIC EDUCATION FOR THE CITIZENS OF ALABAMA.

    Expenses $178,894 · Revenue $186,035

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jordan Jones

    CHAIRMAN

    Total calculated
    $0

  • Robert McGinley Jr

    SECRETARY

    Total calculated
    $0

  • Dr Jeremiah Newell

    EXECUTIVE DI

    Total calculated
    $0

  • Richard Perry

    VICE CHAIRMA

    Total calculated
    $0

  • Mark Spivey

    TREASURER

    Total calculated
    $0

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

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
2022
Filed
24 July 2024
IRS schema version
2022v5.0
Source object
202402149349300620

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