Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $85,423

• 1e · Government grants (contributions)

  $77,692

• 1f · All other contributions, gifts and grants

  $1,421,261

• 1g · Noncash contributions included above

  $9,967

• 2a · Program service revenue: Low Income Housing

  total $973,114 · related or exempt $973,114

• 2b · Program service revenue: Other Program Services

  total $227,955 · related or exempt $227,955

• 3 · Investment income

  total $931,819 · excluded $931,819

• 7a · Gross sales of assets other than inventory

  securities $4,379,406

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

  securities $2,878,181

• 7c · Gain or loss

  securities $1,501,225

• 7d · Net gain or loss

  total $1,501,225 · excluded $1,501,225

• 8a · Fundraising events: gross income

  $21,595

• 8a · Fundraising events: contributions included on line 1c

  $85,423

• 8b · Fundraising events: direct expenses

  $37,603

• 8c · Net income from fundraising events

  total -$16,008 · excluded -$16,008

• 11a · Other revenue: Development fee

  total $122,348 · related or exempt $0 · excluded $122,348

• 11b · Other revenue: Other Income

  total $22,743 · related or exempt $0 · excluded $22,743

• 11c · Other revenue: Laundry revenue, etc.

  total $4,001 · related or exempt $4,001

• 11e · Other revenue, total

  $149,092

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $986,333 · program services $986,333

• 2 · Grants to domestic individuals

  total $22,500 · program services $22,500

• 5 · Compensation of officers, directors and key employees

  total $567,055 · program services $213,934 · management and general $284,737 · fundraising $68,384

• 7 · Other salaries and wages

  total $407,453 · program services $200,693 · management and general $185,507 · fundraising $21,253

• 8 · Pension plan contributions

  total $97,720 · program services $80,925 · management and general $13,955 · fundraising $2,840

• 9 · Other employee benefits

  total $75,795 · program services $22,600 · management and general $44,479 · fundraising $8,716

• 10 · Payroll taxes

  total $64,666 · program services $29,103 · management and general $29,856 · fundraising $5,707

• 11a · Fees: management

  total $127,237 · management and general $127,237

• 11b · Fees: legal

  total $13,373 · program services $6,605 · management and general $6,768

• 11c · Fees: accounting

  total $56,376 · management and general $56,376

• 11f · Fees: investment management

  total $154,666 · management and general $154,666

• 11g · Fees: other

  total $501,205 · program services $394,984 · management and general $106,221

• 13 · Office expenses

  total $91,383 · program services $30,985 · management and general $48,289 · fundraising $12,109

• 14 · Information technology

  total $35,386 · program services $10,381 · management and general $22,052 · fundraising $2,953

• 16 · Occupancy

  total $339,384 · program services $246,677 · management and general $78,106 · fundraising $14,601

• 17 · Travel

  total $9,104 · program services $3,252 · management and general $4,913 · fundraising $939

• 19 · Conferences, conventions and meetings

  total $17,590 · program services $2,913 · management and general $13,836 · fundraising $841

• 20 · Interest

  total $616 · program services $616

• 22 · Depreciation, depletion and amortization

  total $271,293 · program services $212,992 · management and general $48,945 · fundraising $9,356

• 23 · Insurance

  total $246,643 · program services $225,966 · management and general $20,677

• 24a · Other expenses: Repairs & Maintenance

  total $256,946 · program services $256,946

• 24e · All other expenses

  total $35,441 · program services $18,019 · management and general $17,422

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $117,745 · end of year $137,763

• 2 · Savings and temporary cash investments

  beginning of year $104,309 · end of year $1,264,833

• 4 · Accounts receivable

  beginning of year $115,240 · end of year $159,192

• 7 · Other notes and loans receivable

  beginning of year $124,208 · end of year $108,004

• 9 · Prepaid expenses and deferred charges

  beginning of year $110,342 · end of year $121,145

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

  $8,375,952

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

  $4,597,392

• 10c · Land, buildings and equipment, net

  beginning of year $3,783,641 · end of year $3,778,560

• 11 · Investments: publicly traded securities

  beginning of year $42,243,699 · end of year $43,202,526

• 15 · Other assets

  beginning of year $625,902 · end of year $505,201

• 17 · Accounts payable and accrued expenses

  beginning of year $261,965 · end of year $548,297

• 18 · Grants payable

  beginning of year $351,200 · end of year $244,173

• 19 · Deferred revenue

  end of year $21,513

• 21 · Escrow or custodial account liability

  beginning of year $2,882,898 · end of year $1,143,777

• 24 · Unsecured notes and loans payable

  beginning of year $8,101 · end of year $8,101

• 25 · Other liabilities

  beginning of year $1,205,253 · end of year $1,450,239

• 27 · Net assets without donor restrictions

  beginning of year $38,858,632 · end of year $40,583,346

• 28 · Net assets with donor restrictions

  beginning of year $3,657,037 · end of year $5,277,778

The filer's explanations (Part III)

Part 1 Line 1a and line 2

The Executive Director/CEO of the UMCS is a United Methodist clergy person and as such is entitled to a non-taxable housing allowance. The IRS (Publiction 517) allows clergy to designate a certain amount of their compensation as a non-taxable housing allowance. The Board approves this amount annually.

Disregarded entities

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

• UM 104th Street LLC

  realty holding company for low income housing · NY

  Directly controlled by United Methodist City Society

Related corporations and trusts

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

• Trinity-UMCS LLC

  C · Realty holding company for low income senior housing · DE · 100% owned

  Directly controlled by United Methodist City Society