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Nonprofiteer
← ST AMBROSE HOUSING AID CENTER INC

Form 990 for tax year 2023

Filed by ST AMBROSE HOUSING AID CENTER INC.

Totals

Total revenue
$4,388,053
Total expenses
$4,584,141
Contributions and grants received
$2,561,987
Grants paid
$0
Program service revenue
$1,277,960
Investment income
$156,559
Other revenue
$391,547
Total assets, end of year
$9,820,835
Total liabilities, end of year
$6,536,354
Net assets or fund balances, end of year
$3,284,481
Program services expenses (Part IX)
$2,630,055
Management and general expenses
$1,954,086
Fundraising expenses
$0
Program service expenses (Part III)
$2,630,055

Program services were 57.4% 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)

    $872,331

  • 1f · All other contributions, gifts and grants

    $1,689,656

  • 2a · Program service revenue: RENTAL INCOME

    total $985,644 · related or exempt $985,644

  • 2b · Program service revenue: MANAGEMENT FEE

    total $139,720 · related or exempt $139,720

  • 2c · Program service revenue: DEVELOPER INCOME

    total $89,673 · related or exempt $89,673

  • 2d · Program service revenue: FEE FOR SERVICES

    total $62,923 · related or exempt $62,923

  • 3 · Investment income

    total $156,559 · excluded $156,559

  • 10a · Gross sales of inventory

    $440,000

  • 10b · Cost of goods sold

    $112,965

  • 10c · Net income from sales of inventory

    total $327,035 · related or exempt $327,035

  • 11a · Other revenue: MISCELLANEOUS

    total $64,512 · related or exempt $64,512

  • 11e · Other revenue, total

    $64,512

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $201,716 · program services $60,515 · management and general $141,201

  • 7 · Other salaries and wages

    total $1,639,499 · program services $491,850 · management and general $1,147,649

  • 9 · Other employee benefits

    total $235,008 · program services $70,502 · management and general $164,506

  • 10 · Payroll taxes

    total $137,562 · program services $41,269 · management and general $96,293

  • 11b · Fees: legal

    total $6,446 · program services $5,157 · management and general $1,289

  • 11c · Fees: accounting

    total $111,293 · program services $89,034 · management and general $22,259

  • 11g · Fees: other

    total $171,124 · program services $136,899 · management and general $34,225

  • 12 · Advertising and promotion

    total $12,569 · program services $10,055 · management and general $2,514

  • 13 · Office expenses

    total $88,396 · program services $70,717 · management and general $17,679

  • 16 · Occupancy

    total $415,119 · program services $309,502 · management and general $105,617

  • 20 · Interest

    total $43,511 · program services $34,809 · management and general $8,702

  • 22 · Depreciation, depletion and amortization

    total $162,936 · program services $130,349 · management and general $32,587

  • 23 · Insurance

    total $43,122 · program services $17,249 · management and general $25,873

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $774,246 · program services $696,821 · management and general $77,425

  • 24b · Other expenses: DEVELOPMENT PROJECTS

    total $255,317 · program services $229,785 · management and general $25,532

  • 24c · Other expenses: PROPERTY TAXES

    total $65,209 · program services $58,688 · management and general $6,521

  • 24e · All other expenses

    total $221,068 · program services $176,854 · management and general $44,214

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $515,798 · end of year $524,804

  • 2 · Savings and temporary cash investments

    beginning of year $230,660 · end of year $246,166

  • 3 · Pledges and grants receivable

    beginning of year $284,263 · end of year $0

  • 4 · Accounts receivable

    beginning of year $551,568 · end of year $733,704

  • 7 · Other notes and loans receivable

    beginning of year $3,140,570 · end of year $4,135,133

  • 9 · Prepaid expenses and deferred charges

    beginning of year $464,369 · end of year $370,164

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

    $8,715,520

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

    $5,027,314

  • 10c · Land, buildings and equipment, net

    beginning of year $3,966,301 · end of year $3,688,206

  • 15 · Other assets

    beginning of year $1,491,617 · end of year $122,658

  • 17 · Accounts payable and accrued expenses

    beginning of year $606,361 · end of year $1,221,683

  • 19 · Deferred revenue

    beginning of year $3,277 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $4,530,560 · end of year $4,015,196

  • 24 · Unsecured notes and loans payable

    beginning of year $268,729 · end of year $0

  • 25 · Other liabilities

    beginning of year $76,925 · end of year $1,299,475

  • 27 · Net assets without donor restrictions

    beginning of year $3,064,294 · end of year $294,149

  • 28 · Net assets with donor restrictions

    beginning of year $2,095,000 · end of year $2,990,332

Mission and programs · 2023

Mission

TO FACILITATE AFFORDABLE HOUSING FOR INDIVIDUALS WITH LIMITED FINANCIAL RESOURCES LOCATED IN BALTIMORE CITY. THIS IS ACCOMPLISHED THROUGH THE PURCHASE AND RENOVATION OF HOMES WHICH ARE SUBSEQUENTLY SOLD TO QUALIFIED INDIVIDUALS BASED ON THEIR INCOME LEVEL. IN ADDITION, ST. AMROSE RENOVATOES HOUSING APARTMENTS WHICH IT RENTS TO QUALIFIED INDIVIDUALS.

Activities or mission (Part I)

TO FACILITATE AFFORDABLE HOUSING FOR INDIVIDUALS WITH LIMITED FINANCIAL RESOURCES LOCATED IN BALTIMORE CITY.

  • RENTAL SERVICES PROGRAM - ST. AMBROSE HOUSING AID CENTER, INC.'S RENTAL SERVICES PROGRAM IS DEDICATED TO PROVIDEING AFFORDABLE HOUSING TO LOW-MODERATE INCOME INDIVIDUALS AND FAMILIES, AND TO THOSE WITH SPECIAL NEEDS, IN BALTIMORE, MARYLAND.

    Expenses $578,612 · Revenue $1,052,920

  • HOUSING COUNSELING PROGRAM - ST. AMBROSE HOUSING AID CENTER, INC. OFFERS HOMEOWNERSHIP COUNSELING FOR FIRST-TIME HOMEBUYERS, FORECLOSURE PREVENTION COUNSELING, AND FINANCIAL COACHING.

    Expenses $789,016 · Revenue $9,179

  • Expenses $1,262,427 · Revenue $612,884

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

Listed in Part VII

  • Leah Mason-Grant

    VICE PRESIDENT

    Total calculated
    $82,212
    From this org
    $82,212
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • John Henderson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Seema Iyer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rahn Barnes

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kisha Fields Powell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ramsey Harris

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jennine Auerbach

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joseph Dugan

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Phil Croskey

    CHAIR OF BAORD

    Total calculated
    $0
    Hours/week
    1

  • John Roberts

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • James Hook

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Gerard Joab

    PRESIDENT

    Total calculated
    $201,716
    From this org
    $201,716
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,201
    Bonus
    $0
    Other
    $47,515
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $201,716

  • Amy Larocque-Rumano

    DEPUTY DIRECTOR

    Total calculated
    $104,242
    From this org
    $104,242
    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

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.

  • ST AMBROSE BRUCE STREET LLC

    REAL ESTATE · MD · income $117,474 · assets $124,080

    Directly controlled by ST AMBROSE HOUSING AID CENTER INC

Related partnerships

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

  • ST MARTIN'S RENOVATION LP

    RELATED · LOW INCOME HOUSING RENTAL · MD · 100% owned · share of income $316,431 · share of assets $285,092 · general or managing partner

    Directly controlled by ATRIUM INVESTMENT CORPORATION

  • SHARON TOWERS LLC

    RELATED · LOW INCOME HOUSING RENTAL · MD · 99.5% owned · share of income $108,042 · share of assets $186,306 · general or managing partner

    Directly controlled by ATRIUM II INVESTMENT CORPORATION

  • ST AMBROSE LP

    RELATED · LOW INCOME HOUSING RENTAL · MD · 99.5% owned · share of income $206,912 · share of assets $2,823,427 · general or managing partner

    Directly controlled by ATRIUM II INVESTMENT CORPORATION

  • AIGBURTH VALE II LLC

    RELATED · LOW INCOME HOUSING RENTAL · MD · 100% owned · share of income $784,477 · share of assets $6,488,385 · general or managing partner

    Directly controlled by ST AMBROSE HOUSING AID CENTER

  • UNION AVENUE LLC

    RELATED · LOW INCOME HOUSING RENTAL · MD · 100% owned · share of income $736,723 · share of assets $4,970,755 · general or managing partner

    Directly controlled by ST AMBROSE HOUSING AID CENTER

Related corporations and trusts

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

  • ATRIUM INVESTMENT CORPORATION

    C · REAL ESTATE · MD · 100% owned · share of income $316,431 · share of assets $285,092

    Directly controlled by ST AMBROSE HOUSING AID CENTER

  • ATRIUM TWO INVESTMENT CORPORATION

    C · REAL ESTATE · MD · 100% owned

    Directly controlled by ST AMBROSE HOUSING AID CENTER

  • CHARM CITY REALTY INC

    C · REAL ESTATE · MD · 100% owned

    Directly controlled by ST AMBROSE HOUSING AID CENTER

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202541339349301579

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