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← MEDICI ROAD

Form 990 for tax year 2023

Filed by MEDICI ROAD.

Totals

Total revenue
$776,151
Total expenses
$1,177,289
Contributions and grants received
$691,907
Grants paid
$0
Program service revenue
$66,783
Investment income
$0
Other revenue
$17,461
Total assets, end of year
$4,432,916
Total liabilities, end of year
$4,148,030
Net assets or fund balances, end of year
$284,886
Program services expenses (Part IX)
$639,573
Management and general expenses
$537,716
Fundraising expenses
$0
Program service expenses (Part III)
$639,573

Program services were 54.3% 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.

  • 1f · All other contributions, gifts and grants

    $691,907

  • 2a · Program service revenue: CONTRACT REVENUE

    total $66,783 · related or exempt $66,783

  • 6a · Gross rents

    real property $17,327

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $17,327

  • 6d · Net rental income or loss

    total $17,327 · related or exempt $17,327

  • 11a · Other revenue: REIMBURSEMENTS

    total $134 · excluded $134

  • 11e · Other revenue, total

    $134

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $95,405 · program services $59,151 · management and general $36,254

  • 7 · Other salaries and wages

    total $517,859 · program services $321,073 · management and general $196,786

  • 8 · Pension plan contributions

    total $18,658 · program services $11,568 · management and general $7,090

  • 9 · Other employee benefits

    total $17,989 · program services $11,153 · management and general $6,836

  • 10 · Payroll taxes

    total $47,135 · program services $29,224 · management and general $17,911

  • 11b · Fees: legal

    total $84,729 · program services $23,189 · management and general $61,540

  • 11c · Fees: accounting

    total $18,112 · management and general $18,112

  • 11g · Fees: other

    total $78,517 · program services $4,711 · management and general $73,806

  • 12 · Advertising and promotion

    total $9,604 · program services $4,802 · management and general $4,802

  • 13 · Office expenses

    total $12,967 · program services $903 · management and general $12,064

  • 14 · Information technology

    total $20,513 · program services $10,051 · management and general $10,462

  • 16 · Occupancy

    total $43,600 · program services $42,413 · management and general $1,187

  • 17 · Travel

    total $19,205 · program services $192 · management and general $19,013

  • 19 · Conferences, conventions and meetings

    total $3,038 · program services $61 · management and general $2,977

  • 20 · Interest

    total $102,586 · program services $53,345 · management and general $49,241

  • 22 · Depreciation, depletion and amortization

    total $59,253 · program services $56,270 · management and general $2,983

  • 23 · Insurance

    total $11,579 · program services $9,263 · management and general $2,316

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total $14,336 · management and general $14,336

  • 24b · Other expenses: AWARDS & PRIZES

    total $1,284 · program services $1,284

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $920 · program services $920

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $539,011 · end of year $90,760

  • 4 · Accounts receivable

    beginning of year $36,620

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

    $4,133,328

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

    $74,172

  • 10c · Land, buildings and equipment, net

    beginning of year $2,659,074 · end of year $4,059,156

  • 15 · Other assets

    beginning of year $1,025,103 · end of year $283,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,726 · end of year $125,708

  • 22 · Loans and payables to officers and key people

    beginning of year $129,781 · end of year $126,330

  • 23 · Secured mortgages and notes payable

    beginning of year $931,085 · end of year $931,085

  • 24 · Unsecured notes and loans payable

    beginning of year $2,499,192 · end of year $2,911,707

  • 25 · Other liabilities

    beginning of year $0 · end of year $53,200

  • 27 · Net assets without donor restrictions

    beginning of year $686,024 · end of year $284,886

Mission and programs · 2023

Mission

TO REDUCE POVERTY BY CREATING EDUCATION, HOUSING, AND PUBLIC HEALTH SOLUTIONS THAT UPROOT SYSTEMIC RACIAL INEQUALITIES.

Activities or mission (Part I)

TO DEVELOP, PROVIDE RESEARCH, AND POLICIES THAT LINK HOUSING, GUN VIOLENCE, AND SOCIAL EMOTIONAL LEARNING TOGETHER IN HOPES TO DEVELOP EQUITABLE COMMUNITIES THROUGH THEIR RESEARCH AND DEVELOPMENTS.

  • MEDICI ROAD CONTINUES THEIR WORK WITH DEVELOPING, PROVIDING RESEARCH, AND POLICIES THAT LINK HOUSING, GUN VIOLENCE, AND SOCIAL EMOTIONAL LEARNING TOGETHER IN HOPES TO DEVELOP EQUITABLE COMMUNITIES THROUGH THEIR RESEARCH AND DEVELOPMENTS. THE ORGANIZATION PURCHASED THE PROPERTY CALLED DEANWOOD STATION WITH THE PLAN TO DEVELOP THE PROPERTY TO CREATE MORE AFFORDABLE HOUSING IN THE COMMUNITY.

    Expenses $639,573 · Revenue $84,110

As filed on the 2023 return.

Listed in Part VII

  • Thomas E Houston III

    EXECUTIVE DIRECTOR

    Total calculated
    $95,405
    From this org
    $91,657
    From related orgs
    $0
    Other
    $3,748
    Hours/week
    20

  • Sophia Kerby

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Sharon Butler

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Nevasha Noble

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Sesso Igbazua

    TREASURER UNTIL 06/2023

    Total calculated
    $0
    Hours/week
    1

  • Khadeen Grant

    PROGRAM MANAGER

    Total calculated
    $108,538
    From this org
    $100,314
    From related orgs
    $0
    Other
    $8,224
    Hours/week
    40

  • Mekaelia Davis

    DIRECTOR UNTIL 02/2023

    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.

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.

  • DEANWOOD STATION LLC

    REAL ESTATE · DE

    Directly controlled by MEDICI RD

Related partnerships

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

  • DEANWOOD EQUITABLE ENTERPRISES LLC

    RELATED · REAL ESTATE · DC · 95% owned · general or managing partner

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202443209349307944

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