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Nonprofiteer
← MIDWAY APARTMENTS INC

Form 990 for tax year 2023

Filed by MIDWAY APARTMENTS INC.

Totals

Total revenue
$62,862
Total expenses
$93,036
Contributions and grants received
$7,445
Grants paid
$0
Program service revenue
$54,837
Investment income
$580
Other revenue
$0
Total assets, end of year
$447,722
Total liabilities, end of year
$688,069
Net assets or fund balances, end of year
-$240,347
Program services expenses (Part IX)
$72,652
Management and general expenses
$20,384
Fundraising expenses
$0
Program service expenses (Part III)
$72,652

Program services were 78.1% 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

    $7,445

  • 2a · Program service revenue: RENTAL INCOME

    total $52,687 · related or exempt $52,687

  • 2b · Program service revenue: AUXILIARY RENTAL INCOM

    total $2,150 · related or exempt $2,150

  • 3 · Investment income

    total $580 · excluded $580

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $6,186 · management and general $6,186

  • 11b · Fees: legal

    total $203 · management and general $203

  • 11c · Fees: accounting

    total $9,710 · management and general $9,710

  • 13 · Office expenses

    total $1,780 · management and general $1,780

  • 16 · Occupancy

    total $12,301 · program services $12,301

  • 22 · Depreciation, depletion and amortization

    total $19,270 · program services $19,270

  • 23 · Insurance

    total $10,937 · program services $10,937

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $30,468 · program services $27,963 · management and general $2,505

  • 24b · Other expenses: BED DEBT EXPENSE

    total $2,181 · program services $2,181

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $176 · end of year $17,604

  • 4 · Accounts receivable

    end of year $2,916

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

    $739,209

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

    $366,363

  • 10c · Land, buildings and equipment, net

    beginning of year $377,948 · end of year $372,846

  • 15 · Other assets

    beginning of year $63,690 · end of year $54,356

  • 17 · Accounts payable and accrued expenses

    beginning of year $36,567 · end of year $80,802

  • 19 · Deferred revenue

    beginning of year $9,004 · end of year $552

  • 23 · Secured mortgages and notes payable

    beginning of year $604,700 · end of year $604,700

  • 25 · Other liabilities

    beginning of year $1,716 · end of year $2,015

  • 27 · Net assets without donor restrictions

    beginning of year -$210,173 · end of year -$240,347

Mission and programs · 2023

Mission

TO PROVIDE MENTALLY DISABLED PERSONS WITH HOUSING FACILITIES SPECIALLY DESIGNED TO MEET THEIR NEEDS.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE HOUSING TO INDIVIDUALS AND FAMILIES IN NEED.

  • TO PROVIDE MENTALLY DISABLED PERSONS WITH HOUSING FACILITIES SPECIALLY DESIGNED TO MEET THEIR NEEDS. THE ORGANIZATION RENTED 10 UNITS TO INDIVIDUALS AND FAMILIES IN NEED DURING THE YEAR.

    Expenses $72,652 · Revenue $54,837

As filed on the 2023 return.

Listed in Part VII

  • Theresa Graham-Mineart

    BOARD CHAIR/PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Ashley Bailus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Alicia Faust

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Laurie Mitchell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Carmen Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ruby Perrin

    DIRECTOR

    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

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
2023
Filed
29 April 2024
IRS schema version
2023v5.0
Source object
202441309349304249

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