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Nonprofiteer
← METROPOLITAN PROPERTY MANAGEMENT INC

Form 990 for tax year 2022

Filed by METROPOLITAN PROPERTY MANAGEMENT INC.

Totals

Total revenue
$2,794,460
Total expenses
$2,911,078
Contributions and grants received
$0
Grants paid
$81,217
Program service revenue
$2,794,460
Investment income
$0
Other revenue
$0
Total assets, end of year
$166,613
Total liabilities, end of year
$199,182
Net assets or fund balances, end of year
-$32,569
Program services expenses (Part IX)
$2,571,642
Management and general expenses
$339,436
Fundraising expenses
$0
Program service expenses (Part III)
$2,571,642

Program services were 88.3% 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: PROPERTIES SALARY TRANSFERS

    total $2,177,672 · related or exempt $2,177,672

  • 2b · Program service revenue: MANAGEMENT FEE REVENUE

    total $597,188 · related or exempt $597,188

  • 2c · Program service revenue: PROGRAM REVENUES

    total $11,900 · related or exempt $11,900

  • 2d · Program service revenue: RENTAL REVENUE

    total $7,700 · related or exempt $7,700

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $81,217 · program services $81,217

  • 5 · Compensation of officers, directors and key employees

    total $80,393 · program services $68,334 · management and general $12,059

  • 7 · Other salaries and wages

    total $2,171,043 · program services $1,845,387 · management and general $325,656

  • 9 · Other employee benefits

    total $61,002 · program services $61,002

  • 10 · Payroll taxes

    total $172,236 · program services $172,236

  • 11b · Fees: legal

    total $2,390 · program services $2,390

  • 11c · Fees: accounting

    total $26,787 · program services $26,787

  • 11g · Fees: other

    total $48,564 · program services $48,564

  • 12 · Advertising and promotion

    total $3,875 · program services $3,875

  • 13 · Office expenses

    total $79,826 · program services $79,826

  • 16 · Occupancy

    total $29,776 · program services $29,776

  • 17 · Travel

    total $20,881 · program services $20,881

  • 19 · Conferences, conventions and meetings

    total $3,836 · program services $3,836

  • 20 · Interest

    total $2,915 · program services $2,915

  • 22 · Depreciation, depletion and amortization

    total $11,473 · program services $9,752 · management and general $1,721

  • 23 · Insurance

    total $8,090 · program services $8,090

  • 24a · Other expenses: SUPPLIES

    total $42,758 · program services $42,758

  • 24b · Other expenses: CONTRACTS

    total $32,575 · program services $32,575

  • 24c · Other expenses: OTHER ADMIN EXPENSES

    total $18,931 · program services $18,931

  • 24d · Other expenses: FOOD

    total $9,590 · program services $9,590

  • 24e · All other expenses

    total $2,920 · program services $2,920

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $27,309 · end of year $11,853

  • 2 · Savings and temporary cash investments

    beginning of year $16,222 · end of year $77,306

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

    $166,480

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

    $98,190

  • 10c · Land, buildings and equipment, net

    beginning of year $79,762 · end of year $68,290

  • 15 · Other assets

    end of year $9,164

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,374 · end of year $34,806

  • 23 · Secured mortgages and notes payable

    beginning of year $19,320 · end of year $25,268

  • 24 · Unsecured notes and loans payable

    end of year $138,558

  • 25 · Other liabilities

    beginning of year $550 · end of year $550

  • 27 · Net assets without donor restrictions

    beginning of year $84,049 · end of year -$32,569

Mission and programs · 2022

Mission

THE ORGANIZATION'S MISSION IS TO IMPROVE THE QUALITY OF LIFE FOR LOW TO MODERATE INCOME PERSONS BY PROVIDING SAFE, QUALITY HOUSING.

  • PROVIDES SUPERIOR MANAGEMENT SERVICES TO OWNERS OF MULTIFAMILY RENTAL HOUSING DEVELOPMENTS SERVING LOW TO MODERATE INCOME FAMILIES, ELDERLY AND/OR DISABLED PERSONS. THE ORGANIZATION FOCUS IS ON PROVIDING SAFE AND QUALITY HOUSING FOR RESIDENTS OF THE PROJECTS WHICH THE ORGANIZATION SERVICES.

    Expenses $2,571,642 · Grants $81,217 · Revenue $2,794,460

As filed on the 2022 return.

Listed in Part VII

  • Eric Whitaker

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Garrick Witherspoon

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Joyce O'Neal

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Mildred Randolph

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Solomon Ore Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.75

  • Watsi Sutton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.75

  • Harold Leary

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.75

  • Joseph Moore

    EXECUTIVE DI

    Total calculated
    $80,393
    From this org
    $80,393
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

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.

Disregarded entities

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

  • DAVID L MOORE & ASSOCIATES LLC

    RENTAL · NC · income $18,700 · assets $39,338

    Directly controlled by METRO PROP METRO PROPERTY MANAGEMENT

Provenance

Return type
form_990
Tax year
2022
Filed
10 April 2023
IRS schema version
2022v5.0
Source object
202311019349300321

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