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← MISSION FIRST HOUSING DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by MISSION FIRST HOUSING DEVELOPMENT CORPORATION.

Totals

Total revenue
$9,940,669
Total expenses
$2,499,790
Contributions and grants received
$6,150,000
Grants paid
$0
Program service revenue
$3,297,945
Investment income
$492,724
Other revenue
$0
Total assets, end of year
$52,975,449
Total liabilities, end of year
$12,964,478
Net assets or fund balances, end of year
$40,010,971
Program services expenses (Part IX)
$1,712,623
Management and general expenses
$787,167
Fundraising expenses
$0
Program service expenses (Part III)
$1,712,623

Program services were 68.5% 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)

    $6,150,000

  • 2a · Program service revenue: DEV. & CONSTRUCTION SERVICES

    total $3,104,400 · related or exempt $3,104,400

  • 2b · Program service revenue: REAL ESTATE SERVICES

    total $193,545 · related or exempt $193,545

  • 3 · Investment income

    total $492,724 · excluded $492,724

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $256,740 · program services $189,703 · management and general $67,037

  • 7 · Other salaries and wages

    total $1,328,673 · program services $995,176 · management and general $333,497

  • 8 · Pension plan contributions

    total $25,447 · program services $469 · management and general $24,978

  • 9 · Other employee benefits

    total $150,766 · program services $126,978 · management and general $23,788

  • 10 · Payroll taxes

    total $106,812 · program services $78,078 · management and general $28,734

  • 11c · Fees: accounting

    total $56,368 · management and general $56,368

  • 11g · Fees: other

    total $20,004 · management and general $20,004

  • 13 · Office expenses

    total $17,038 · management and general $17,038

  • 16 · Occupancy

    total $89,167 · program services $89,167

  • 17 · Travel

    total $3,318 · management and general $3,318

  • 19 · Conferences, conventions and meetings

    total $4,859 · management and general $4,859

  • 20 · Interest

    total $142,832 · program services $142,832

  • 24a · Other expenses: ADMIN. EXPENSES

    total $154,760 · management and general $154,760

  • 24b · Other expenses: DEVELOPMENT EXPENSES

    total $60,561 · program services $60,561

  • 24c · Other expenses: SUPPORT SERVICES

    total $29,492 · program services $29,492

  • 24d · Other expenses: OTHER

    total $26,785 · program services $167 · management and general $26,618

  • 24e · All other expenses

    total $26,168 · management and general $26,168

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $342,862 · end of year $376,333

  • 4 · Accounts receivable

    beginning of year $18,112,090 · end of year $18,430,286

  • 7 · Other notes and loans receivable

    beginning of year $15,165,921 · end of year $27,067,539

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,324 · end of year $2,067

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

    $39,418

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

    $39,418

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $133,668 · end of year $133,668

  • 15 · Other assets

    beginning of year $5,540,492 · end of year $6,965,556

  • 17 · Accounts payable and accrued expenses

    beginning of year $299,968 · end of year $340,884

  • 23 · Secured mortgages and notes payable

    beginning of year $1,869,683 · end of year $2,329,846

  • 25 · Other liabilities

    beginning of year $10,460,896 · end of year $10,293,748

  • 27 · Net assets without donor restrictions

    beginning of year $13,057,768 · end of year $17,800,939

  • 28 · Net assets with donor restrictions

    beginning of year $13,608,042 · end of year $22,210,032

Mission and programs · 2022

Mission

MFHDC IS A NOT-FOR-PROFIT ORGANIZATION ESTABLISHED FOR THE PURPOSE OF DEVELOPING AFFORDABLE, SAFE AND SUSTAINABLE HOUSING FOR PEOPLE IN NEED WITH A FOCUS ON THE VULNERABLE. DEVELOPMENT INCLUDES ACQUISITION, REHABILITATION, PRESERVATION AND NEW CONSTRUCTION ACROSS THE MID-ATLANTIC REGION.

Activities or mission (Part I)

MFHDC DEVELOPS AFFORDABLE, SAFE AND SUSTAINABLE HOUSING IN THE MID-ATLANTIC REGION.

  • REAL ESTATE INVESTMENT AND DEVELOPMENT - DEVELOPMENT AND CONSTRUCTION OF DECENT, SAFE, AND PERMANENT INDEPENDENT HOUSING FOR INDIVIDUALS LIMITED BY SERIOUS, LONG-TERM, AND/OR CHRONIC DISABILITY OR HOMELESSNESS.

    Expenses $1,712,623 · Revenue $3,297,945

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

Listed in Part VII

  • MICHAEL DAVIDSON ESQ

    CHAIR

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • RUSSEL JOHNSON

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • MARK DUFFY

    TREASURER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • MICHAEL SIMMONS

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • HARRY G DITTMANN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • JAMES KILCOYNE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • GINA MULDROW

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • MARVA WILLIAMS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3 + 0.3 related

  • SARAH S CONSTANT

    SENIOR VP, REAL ESTATE DEV

    Total calculated
    $256,740
    From this org
    $232,168
    From related orgs
    $0
    Other
    $24,572
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $232,168
    Bonus
    $0
    Other
    $0
    Deferred
    $5,931
    Nontaxable benefits
    $18,641
    Filer's total
    $256,740

  • ROBERT KWAIT

    ASSISTANT SECRETARY, VP

    Total calculated
    $223,212
    From this org
    $0
    From related orgs
    $194,593
    Other
    $28,619
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $194,593 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,302 related
    Nontaxable benefits
    $0 + $24,317 related
    Filer's total
    $0 + $223,212 related

  • MARK DEITCHER

    ASSISTANT TREASURER, VP

    Total calculated
    $226,472
    From this org
    $0
    From related orgs
    $198,201
    Other
    $28,271
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $198,201 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,954 related
    Nontaxable benefits
    $0 + $24,317 related
    Filer's total
    $0 + $226,472 related

  • CHIP DARLING

    VICE PRESIDENT & COO

    Total calculated
    $210,516
    From this org
    $0
    From related orgs
    $182,499
    Other
    $28,017
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $182,499 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,700 related
    Nontaxable benefits
    $0 + $24,317 related
    Filer's total
    $0 + $210,516 related

  • THOMAS AK QUEENAN

    PRESIDENT & CEO

    Total calculated
    $170,385
    From this org
    $0
    From related orgs
    $169,626
    Other
    $759
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $169,626 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $759 related
    Filer's total
    $0 + $170,385 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)

PART I, LINE 3
COMPENSATION OF THE PRESIDENT/CEO AND THE OTHER OFFICERS IS PAID BY A RELATED ENTITY, COLUMBUS PROPERTY MANAGEMENT. AS SUCH, THAT ORGANIZATION'S COMPENSATION POLICY CONTROLS COMPENSATION PAID TO THOSE INDIVIDUALS. COLUMBUS PROPERTY MANAGEMENT FOLLOWS A PROCESS OF REVIEW AND APPROVAL WITH CONSIDERATION GIVEN TO COMPENSATION FOR COMPARABLE POSITIONS IN COMPARABLE INDUSTRY SEGMENTS.

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202411369349311401

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