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Nonprofiteer
← MARTIN LUTHER KING GARDENS INC

Form 990 for tax year 2022

Filed by MARTIN LUTHER KING GARDENS INC.

Totals

Total revenue
$3,846,635
Total expenses
$2,118,195
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,556,834
Investment income
$1,562
Other revenue
$288,239
Total assets, end of year
$26,958,035
Total liabilities, end of year
$21,627,056
Net assets or fund balances, end of year
$5,330,979
Program services expenses (Part IX)
$1,937,353
Management and general expenses
$180,842
Fundraising expenses
$0
Program service expenses (Part III)
$1,937,353

Program services were 91.5% 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.

  • 2a · Program service revenue: APARTMENT RENTS

    total $3,556,834 · related or exempt $3,556,834

  • 3 · Investment income

    total $1,562 · excluded $1,562

  • 11a · Other revenue: SECTION 236 MORTGAGE I

    total $284,622 · related or exempt $284,622

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $2,889 · related or exempt $2,889

  • 11c · Other revenue: LATE CHARGES AND OTHER

    total $728 · related or exempt $728

  • 11e · Other revenue, total

    $288,239

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $219,394 · program services $219,394

  • 9 · Other employee benefits

    total $69,450 · program services $69,450

  • 10 · Payroll taxes

    total $22,365 · program services $22,365

  • 11a · Fees: management

    total $86,400 · management and general $86,400

  • 11b · Fees: legal

    total $13,398 · management and general $13,398

  • 11c · Fees: accounting

    total $15,610 · management and general $15,610

  • 11g · Fees: other

    total $22,180 · management and general $22,180

  • 13 · Office expenses

    total $89,261 · program services $46,007 · management and general $43,254

  • 16 · Occupancy

    total $734,912 · program services $734,912

  • 20 · Interest

    total $600,806 · program services $600,806

  • 22 · Depreciation, depletion and amortization

    total $131,882 · program services $131,882

  • 23 · Insurance

    total $77,874 · program services $77,874

  • 24a · Other expenses: COLLECTION LOSSES

    total $34,663 · program services $34,663

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,805,781 · end of year $3,094,303

  • 4 · Accounts receivable

    beginning of year $193,416 · end of year $224,863

  • 9 · Prepaid expenses and deferred charges

    beginning of year $27,123 · end of year $35,786

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

    $25,433,226

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

    $7,036,527

  • 10c · Land, buildings and equipment, net

    beginning of year $16,402,676 · end of year $18,396,699

  • 14 · Intangible assets

    beginning of year $186,312 · end of year $175,500

  • 15 · Other assets

    beginning of year $6,195,209 · end of year $5,030,884

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,422,617 · end of year $2,483,573

  • 19 · Deferred revenue

    beginning of year $55,708 · end of year $71,663

  • 23 · Secured mortgages and notes payable

    beginning of year $19,653,146 · end of year $18,994,772

  • 25 · Other liabilities

    beginning of year $76,507 · end of year $77,048

  • 27 · Net assets without donor restrictions

    beginning of year $3,602,539 · end of year $5,330,979

Mission and programs · 2022

Mission

LOW TO MODERATE INCOME HOUSING DEVELOPMENT LOCATED IN ENGLEWOOD, NJ.

Activities or mission (Part I)

LOW TO MODERATE INCOME HOUSING DEVELOPMENT LOCATED IN ENGLEWOOD, NJ

  • MARTIN LUTHER KING GARDENS URBAN RENEWAL, INC. THE (ORGANIZATION") ACQUIRED THE HOUSING DEVELOPMENT ORIGINALLY KNOWN AS MARTIN LUTHER KING APARTMENTS FROM HUMPHREY WILLIAMS HOUSING ASSOCIATION ON FEBRUARY 4, 1977. THE ORGANIZATION PROVIDES HOUSING FOR QUALIFIED INDIVIDUALS AND IS LOCATED IN ENGLEWOOD, NEW JERSEY AND CONSISTS OF 100 DWELLING UNITS.

    Expenses $1,937,353 · Revenue $1,401,924

As filed on the 2022 return.

Listed in Part VII

  • Chanon McDuffle

    PRESIDENT, TRUSTEE

    Total calculated
    $0
    Hours/week
    15

  • Cheryl Brown

    SECRETARY, TRUSTEE

    Total calculated
    $0
    Hours/week
    15

  • Anita Powell

    ASST. SECRETARY, TRUST

    Total calculated
    $0
    Hours/week
    3

  • Lee Smith

    TREASURER, TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Ethel Moses

    ASST. TREASURER, TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Hosle Smith

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Parris Terry

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Alva Jones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202343199349325439

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