Skip to content
Nonprofiteer
← MHT HOUSING INC

Form 990 for tax year 2022

Filed by MHT HOUSING INC.

Totals

Total revenue
$61,326,212
Total expenses
$11,159,136
Contributions and grants received
$5,259,388
Grants paid
$1,081,351
Program service revenue
$55,205,825
Investment income
$269,112
Other revenue
$591,887
Total assets, end of year
$152,812,915
Total liabilities, end of year
$5,232,454
Net assets or fund balances, end of year
$147,580,461
Program services expenses (Part IX)
$9,146,990
Management and general expenses
$2,012,146
Fundraising expenses
$0
Program service expenses (Part III)
$9,146,990

Program services were 82.0% 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.

  • 1e · Government grants (contributions)

    $2,529,909

  • 1f · All other contributions, gifts and grants

    $2,729,479

  • 2a · Program service revenue: INCOME FROM RELATED ORGANIZATION

    total $40,281,374 · related or exempt $40,281,374

  • 2b · Program service revenue: DEVELOPER FEES

    total $7,160,326 · related or exempt $7,160,326

  • 2c · Program service revenue: PARTNERSHIP MANAGEMENT FEE

    total $3,561,357 · related or exempt $3,561,357

  • 2d · Program service revenue: INTEREST - LOAN RECEIVABLE

    total $2,071,709 · related or exempt $2,071,709

  • 2e · Program service revenue: BAD DEBT RECOVERY

    total $1,577,704 · related or exempt $1,577,704

  • 2f · All other program service revenue

    total $553,355 · related or exempt $553,355

  • 3 · Investment income

    total $269,112 · excluded $269,112

  • 6a · Gross rents

    real property $571,914

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $571,914

  • 6d · Net rental income or loss

    total $571,914 · excluded $571,914

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $19,973 · related or exempt $19,973

  • 11e · Other revenue, total

    $19,973

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,001,374 · program services $1,001,374

  • 2 · Grants to domestic individuals

    total $79,977 · program services $79,977

  • 5 · Compensation of officers, directors and key employees

    total $1,555,708 · program services $1,247,045 · management and general $308,663

  • 7 · Other salaries and wages

    total $4,491,518 · program services $3,593,215 · management and general $898,303

  • 8 · Pension plan contributions

    total $246,266 · program services $199,475 · management and general $46,791

  • 9 · Other employee benefits

    total $564,797 · program services $457,486 · management and general $107,311

  • 10 · Payroll taxes

    total $319,015 · program services $244,622 · management and general $74,393

  • 11b · Fees: legal

    total $261,078 · program services $208,862 · management and general $52,216

  • 11c · Fees: accounting

    total $48,025 · program services $38,420 · management and general $9,605

  • 11f · Fees: investment management

    total $38,266 · program services $30,613 · management and general $7,653

  • 11g · Fees: other

    total $540,030 · program services $432,025 · management and general $108,005

  • 12 · Advertising and promotion

    total $47,359 · program services $47,359

  • 13 · Office expenses

    total $557,948 · program services $446,358 · management and general $111,590

  • 16 · Occupancy

    total $360,375 · program services $288,300 · management and general $72,075

  • 17 · Travel

    total $205,282 · program services $164,226 · management and general $41,056

  • 19 · Conferences, conventions and meetings

    total $124,871 · program services $99,897 · management and general $24,974

  • 20 · Interest

    total $148,350 · program services $118,680 · management and general $29,670

  • 22 · Depreciation, depletion and amortization

    total $328,072 · program services $262,458 · management and general $65,614

  • 23 · Insurance

    total $21,111 · program services $16,889 · management and general $4,222

  • 24a · Other expenses: MAINTENANCE AND REPAIRS

    total $212,136 · program services $169,709 · management and general $42,427

  • 24b · Other expenses: MISCELLANEOUS

    total $7,578 · management and general $7,578

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $15,273,631 · end of year $18,845,910

  • 2 · Savings and temporary cash investments

    beginning of year $2,413,249 · end of year $16,353,789

  • 4 · Accounts receivable

    beginning of year $529,648 · end of year $4,522,421

  • 7 · Other notes and loans receivable

    beginning of year $4,114,697 · end of year $2,617,385

  • 9 · Prepaid expenses and deferred charges

    beginning of year $579,489 · end of year $108,417

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

    $9,614,737

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

    $704,554

  • 10c · Land, buildings and equipment, net

    beginning of year $11,929,934 · end of year $8,910,183

  • 13 · Investments: program-related

    beginning of year $68,909,747 · end of year $101,118,195

  • 15 · Other assets

    beginning of year $0 · end of year $336,615

  • 17 · Accounts payable and accrued expenses

    beginning of year $740,761 · end of year $417,499

  • 23 · Secured mortgages and notes payable

    beginning of year $4,418,400 · end of year $4,212,205

  • 25 · Other liabilities

    beginning of year $1,625,654 · end of year $602,750

  • 27 · Net assets without donor restrictions

    beginning of year $96,965,580 · end of year $147,580,461

Mission and programs · 2022

Mission

TO PRESERVE AND EXTEND AFFORDABLE HOUSING IN MICHIGAN THROUGH THE ACQUISITION AND OPERATION OF MULTIFAMILY RESIDENTIAL REAL ESTATE FOR LOW AND VERY LOW INCOME TENANTS.

Activities or mission (Part I)

PRESERVATION OF LOW INCOME HOUSING

  • MHT HOUSING, INC. FOR THE YEAR ENDED 3/31/23 RECEIVED 9 LOW-INCOME HOUSING TAX CREDIT AWARDS TOTALING 1,026 UNITS. THESE PROJECTS WILL PROVIDE FOR 887 RENOVATED UNITS FOR PRESERVATION IN THE LOW-INCOME HOUSING SYSTEM AND 139 NEW CONSTRUCTION UNITS. THESE PROJECTS WILL HOUSE APPROXIMATELY 2,735 LOW-INCOME INDIVIDUALS. IN ADDITION, OVER THE LAST YEAR MHT HOUSING, INC. HAS COMPLETED THE RENOVATION OF 235 LOW- INCOME UNITS AND NEW CONSTRUCTION OF 96 LOW-INCOME HOUSING UNITS WHICH WILL HOUSE APPROXIMATELY 541 LOW-INCOME INDIVIDUALS. MHT HOUSING, INC. MADE SIGNIFICANT DONATIONS TO SEVERAL NONPROFITS INCLUDING SUPPORTING AN INNER-CITY CHARTER SCHOOL FOR STUDENTS K-12.

    Expenses $9,146,990 · Grants $1,081,351 · Revenue $55,225,798

As filed on the 2022 return.

Listed in Part VII

  • TIMOTHY V FOX

    PRESIDENT

    Total calculated
    $656,509
    From this org
    $626,009
    From related orgs
    $0
    Other
    $30,500
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $539,937
    Bonus
    $86,072
    Other
    $0
    Deferred
    $30,500
    Nontaxable benefits
    $0
    Filer's total
    $656,509

  • GREGORY DEMARS

    TREASURER (ENDED 6/18/22)

    Total calculated
    $52,500
    From this org
    $52,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5 + 5 related

  • MARTHA RICHARDSON

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • STEVEN CHAMPA

    SECRETARY

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • THOMAS EDMISTON

    TREASURER (BEGAN 6/18/22)

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • BRIAN A GALLAHER

    CHIEF FINANCIAL OFFICER

    Total calculated
    $512,908
    From this org
    $455,076
    From related orgs
    $0
    Other
    $57,832
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $387,048
    Bonus
    $68,028
    Other
    $0
    Deferred
    $30,500
    Nontaxable benefits
    $27,332
    Filer's total
    $512,908

  • TIMOTHY A FOX

    CHIEF OPERATING OFFICER

    Total calculated
    $328,260
    From this org
    $310,596
    From related orgs
    $0
    Other
    $17,664
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $310,596
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $17,664
    Filer's total
    $328,260

  • CHRISTOPHER BRIC

    EXECUTIVE VP (ENDED 12/31/22)

    Total calculated
    $223,749
    From this org
    $186,950
    From related orgs
    $0
    Other
    $36,799
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,950
    Bonus
    $0
    Other
    $0
    Deferred
    $19,135
    Nontaxable benefits
    $17,664
    Filer's total
    $223,749

  • ANDREW MARTIN

    VICE PRESIDENT OF DEVELOPMENT

    Total calculated
    $268,429
    From this org
    $230,697
    From related orgs
    $0
    Other
    $37,732
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,097
    Bonus
    $32,600
    Other
    $0
    Deferred
    $19,645
    Nontaxable benefits
    $18,087
    Filer's total
    $268,429

  • DONNA MCMILLAN

    MULTIFAMILY PRESERVATION DIRECTOR

    Total calculated
    $220,731
    From this org
    $203,203
    From related orgs
    $0
    Other
    $17,528
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $180,603
    Bonus
    $22,600
    Other
    $0
    Deferred
    $17,528
    Nontaxable benefits
    $0
    Filer's total
    $220,731

  • ROLLIN STODDARD

    CHIEF ARCHITECT

    Total calculated
    $248,042
    From this org
    $197,347
    From related orgs
    $0
    Other
    $50,695
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $174,847
    Bonus
    $22,500
    Other
    $0
    Deferred
    $18,274
    Nontaxable benefits
    $32,421
    Filer's total
    $248,042

  • JON P TALLERICO

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $222,234
    From this org
    $196,210
    From related orgs
    $0
    Other
    $26,024
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $173,710
    Bonus
    $22,500
    Other
    $0
    Deferred
    $16,878
    Nontaxable benefits
    $9,146
    Filer's total
    $222,234

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • MHT HOUSING IV

    501(C)(3) · PRESERVATION OF LOW INCOME HOUSING · MI · controlled entity

    Directly controlled by MHT HOUSING INC

  • CORE COMMUNITY PARTNERS

    501(C)(3) · PRESERVATION OF LOW INCOME HOUSING · MI · controlled entity

    Directly controlled by MHT HOUSING INC

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MHT MANAGEMENT LLC

    MANAGEMENT OF LOW-INCOME HOUSING ENTITIES · MI · income $2,310,207 · assets $4,562,156

    Directly controlled by MHT HOUSING INC

  • 32500 INC

    MANAGEMENT OF LOW-INCOME HOUSING ENTITIES · MI · income -$5,612 · assets $8,094,446

    Directly controlled by MHT HOUSING INC

  • DELHI LP INC

    MANAGEMENT OF LOW-INCOME HOUSING ENTITIES · MI · income $2,144,483 · assets $0

    Directly controlled by MHT HOUSING INC

  • LANSING MHT LOW PROFIT L3C

    MANAGEMENT OF LOW-INCOME HOUSING ENTITIES · MI · income -$37 · assets $887

    Directly controlled by MHT HOUSING INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • NECABA LDHA LP

    RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income -$267,520 · share of assets $12,986,637

    Directly controlled by MHT HOUSING INC

  • CENTERLINE PARK TOWERSMHT LDHA LP

    RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income -$3,553

    Directly controlled by MHT HOUSING INC

  • RIDGEWOOD VISTA IIMHT LDHA LLC

    RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income $1,230 · share of assets $8,793,768

    Directly controlled by MHT HOUSING INC

  • DAUNER HAUS IIIMHT LDHA LLC

    RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income -$1,649 · share of assets $8,682,599

    Directly controlled by MHT HOUSING INC

  • DELHI STRATFORD PLACE LDHA LP

    RELATED · REAL ESTATE RENTAL · MI · 99.99% owned · share of income $2,144,483

    Directly controlled by DELHI LP INC

Related corporations and trusts

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

  • MHT HOLDING COMPANY II INC

    C · INVESTMENT IN LOW-INCOME HOUSING · MI · 100% owned · share of income $6,426,902 · share of assets $11,405,691 · controlled entity

    Directly controlled by MHT HOUSING INC

  • MHT PROPERTIES V INC

    C · INVESTMENT IN LOW-INCOME HOUSING · MI · 75% owned · share of income $401 · share of assets $123,683 · controlled entity

    Directly controlled by MHT HOLDING COMPANY II INC

Provenance

Return type
form_990
Tax year
2022
Filed
31 January 2024
IRS schema version
2022v5.0
Source object
202430319349300043

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.