Skip to content
Nonprofiteer
← THE MON VALLEY INITIATIVE

Form 990 for tax year 2023

Filed by THE MON VALLEY INITIATIVE.

Totals

Total revenue
$14,993,148
Total expenses
$5,660,108
Contributions and grants received
$11,503,624
Grants paid
$401,570
Program service revenue
$2,831,921
Investment income
$31,395
Other revenue
$626,208
Total assets, end of year
$22,726,082
Total liabilities, end of year
$2,070,473
Net assets or fund balances, end of year
$20,655,609
Program services expenses (Part IX)
$5,466,260
Management and general expenses
$178,316
Fundraising expenses
$15,532
Program service expenses (Part III)
$5,466,260

Program services were 96.6% 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)

    $634,841

  • 1f · All other contributions, gifts and grants

    $10,868,783

  • 2a · Program service revenue: Construction Grants

    total $2,583,955 · related or exempt $2,583,955

  • 2b · Program service revenue: Developer Fee

    total $79,265 · related or exempt $79,265

  • 2c · Program service revenue: Program Service

    total $168,701 · related or exempt $168,701

  • 3 · Investment income

    total $166,474 · related or exempt $11,811 · excluded $154,663

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $559,918

  • 6c · Rental income or loss

    real property $559,918

  • 6d · Net rental income or loss

    total $559,918 · related or exempt $559,918

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

    other assets $135,079

  • 7c · Gain or loss

    other assets -$135,079

  • 7d · Net gain or loss

    total -$135,079 · related or exempt -$135,079

  • 8a · Fundraising events: gross income

    $34,242

  • 8b · Fundraising events: direct expenses

    $21,127

  • 8c · Net income from fundraising events

    total $13,115 · excluded $13,115

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: Miscellaneous Income

    total $53,175 · related or exempt $53,175

  • 11e · Other revenue, total

    $53,175

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $401,570 · program services $401,570

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $195,646 · program services $172,853 · management and general $20,954 · fundraising $1,839

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $997,631 · program services $881,407 · management and general $106,846 · fundraising $9,378

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $18,468 · program services $16,317 · management and general $1,978 · fundraising $173

  • 10 · Payroll taxes

    total $103,092 · program services $91,082 · management and general $11,041 · fundraising $969

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $352,523 · program services $343,400 · management and general $8,387 · fundraising $736

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $96,259 · program services $87,236 · management and general $8,295 · fundraising $728

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $17,099 · program services $15,129 · management and general $1,811 · fundraising $159

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $43,718 · program services $42,724 · management and general $914 · fundraising $80

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $268,128 · program services $266,054 · management and general $1,907 · fundraising $167

  • 23 · Insurance

    total $123,892 · program services $118,066 · management and general $5,356 · fundraising $470

  • 24a · Other expenses: Program development

    total $2,609,881 · program services $2,609,881

  • 24b · Other expenses: Utilities

    total $191,433 · program services $188,683 · management and general $2,528 · fundraising $222

  • 24c · Other expenses: Other Apartment Expenses

    total $110,310 · program services $110,310

  • 24d · Other expenses: Real Estate Taxes

    total $58,106 · program services $56,927 · management and general $1,084 · fundraising $95

  • 24e · All other expenses

    total $72,352 · program services $64,621 · management and general $7,215 · fundraising $516

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $328,506 · end of year $514,982

  • 2 · Savings and temporary cash investments

    beginning of year $1,831,321 · end of year $5,977,806

  • 3 · Pledges and grants receivable

    beginning of year $2,484,022 · end of year $1,370,622

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $226,793 · end of year $124,078

  • 8 · Inventories for sale or use

    beginning of year $3,326 · end of year $4,397

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,990 · end of year $14,140

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

    $10,852,188

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

    $2,127,080

  • 10c · Land, buildings and equipment, net

    beginning of year $8,947,978 · end of year $8,725,108

  • 11 · Investments: publicly traded securities

    end of year $5,155,047

  • 12 · Investments: other securities

    beginning of year $604,836 · end of year $736,301

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $26,969 · end of year $103,601

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,836,321 · end of year $1,018,875

  • 23 · Secured mortgages and notes payable

    beginning of year $671,417 · end of year $596,290

  • 25 · Other liabilities

    beginning of year $535,609 · end of year $455,308

  • 27 · Net assets without donor restrictions

    beginning of year $9,686,856 · end of year $9,282,407

  • 28 · Net assets with donor restrictions

    beginning of year $1,736,538 · end of year $11,373,202

Mission and programs · 2023

Mission

MON VALLEY INITIATIVE IS A REGIONAL COMMUNITY DEVELOPMENT CORPORATION REPRESENTING COMMUNITIES AND STAKEHOLDERS ALONG THE MONONGAHELA RIVER AND ITS TRIBUTARIES IN THREE SOUTHWESTERN PENNSYLVANIA COUNTIES. MVI IS ORGANIZED INTO THREE PROGRAM AREAS, TO BEST CARRY OUT ITS MISSION OF "MON VALLEY INITIATIVE STRENGHENS THE MON VALLEY REGION BY RESPONSIBLY INVESTING IN OUR PEOPLE AND PLACES". THE THREE PROGRAM AREAS ARE REAL ESTATE AND COMMUNITY DEVELOPMENT, HOUSING COUNSELING AND WORKFORCE DEVELOPMENT AND FINANCIAL COACHING.

Activities or mission (Part I)

The Mon Valley Initiative is a grass-roots, regional community development corporation, organized to carry out its mission of Mon Valley Initiative strengthens the Mon Valley region by responsibly investing in our people and places"

  • Real Estate: The purpose of MVIs Real Estate Development Program is to help rebuild the fabric of MVIs member communities, thereby stabilizing both the built environment and property values, maintaining the tax base, and promoting a culture of public safety and community confidence. MVI provides direct real estate development services through existing programs including Rehab for Resale (acquisition, renovation and resale of existing blighted and vacant properties), new construction housing in targeted areas, owner-occupied rehabs, residential rental development, the development of strategic commercial spaces in targeted business districts, and various complementary initiatives in community planning, zoning and marketing outreach. MVI and its locally-based partners have now completed construction, redevelopment or facilitated the transfer of 675 units of housing, with 20 units in predevelopment.

    Expenses $4,002,241

  • Housing Counseling: The Mon Valley Initiative National Intermediary is a HUD-approved national housing counseling intermediary that provides administrative services, housing counseling funding, and performance monitoring services to a national network of sub-grantee agencies. The agencies in turn provide eligible housing counseling services to participants in their local areas. During the 2023 HUD fiscal year, the agencies provided housing counseling to 7,145 households. MVIs Housing Counseling Program is a sub-grantee agency of The Mon Valley Initiative National Intermediary. The purpose of MVIs pre-purchase housing counseling program is to educate and assist individuals and families, with low and moderate incomes, in the process of obtaining an affordable mortgage to facilitate the purchase of a home. MVI provides credit and budget analyses, and HUD- and PHFA-approved housing counseling action plans to bring participants to mortgage-readiness. MVI also coordinates services with several other housing counseling agencies in our area. During 2023, MVIs Housing Counseling Program provided assistance to 87 participants through pre-purchase housing counseling. Of those receiving pre-purchase counseling, 28 went on to become homeowners.

    Expenses $620,575

  • Community Development:The Community Development and Outreach efforts undertaken through this program support and engage volunteers, partner organizations, community residents and stakeholders to build connections and gather vital guidance and feedback, ensuring the MVI remains deeply engaged at the local level. The program staff provide guidance to partner organizations, coordinate special events, and provide support to the other MVI program areas. MVIs work was supported by a volunteer base of approximately 135 individuals in 2023.

    Expenses $507,636

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Laura Zinski

    CEO

    Total calculated
    $112,000
    From this org
    $112,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • April Hoover

    CFO

    Total calculated
    $83,646
    From this org
    $83,646
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Lindsey Coy

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jebediah Feldman

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mary Carol Kennedy

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Barata Bey

    Chairman

    Total calculated
    $0
    Hours/week
    2

  • Tyler Reeder

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Dale Bizub

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Barbara LaFace

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Terry Ward

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Jane Flaherty

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Richard Wallace

    Board Member

    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

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

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.

Related partnerships

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

  • North East Housing Associates

    Real Estate · PA · 99% owned · share of income -$73,523 · share of assets -$360,427

    Directly controlled by MVI

  • East Braddock Housing Development LP

    Real Estate · PA · 99.99% owned · share of assets $1,581,150

    Directly controlled by MVI

Related corporations and trusts

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

  • North East Housing Corporation

    C corp · Real Estate · PA · 100% owned · share of income -$743 · share of assets -$3,641

    Directly controlled by MVI

  • East Braddock Housing Development Corp

    C Corp · Real Estate · PA · 100% owned · share of assets $158

    Directly controlled by MVI

Provenance

Return type
form_990
Tax year
2023
Filed
20 August 2024
IRS schema version
2023v5.1
Source object
202402339349301005

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.