Form 990, Part VI, Section A, Line 6
“Mercy housing, inc., a nebraska nonprofit corporation, is the sole member and is exempt from federal income tax as an organization described in section 501(c)(3) of the internal revenue code of 1986.”
Mercy Housing Lakefront
990 • Fiscal year 2021 • EIN 36-3453183
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Balance Sheet
Assets
Flat$45,086,430
Flat from 2021
Net Assets
Flat$15,291,773
Flat from 2021
Liabilities
Flat$29,794,657
Flat from 2021
Revenue And Expenses
Revenue
Flat$37,545,157
Flat from 2021
Expenses
Flat$25,594,932
Flat from 2021
Net Income
Flat$11,950,225
Flat from 2021
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2021 to Dec 31, 2021
- Signed
- Oct 25, 2022
- Return Version
- 2021v4.2
- Gross Receipts
- $37,590,382
Mission and Program Overview
Mission
The mission of mercy housing lakefront is to directly facilitate the provision of affordable housing to families, seniors, people with special needs, homeless and potentially homeless individuals who would otherwise lack the financial resources to obtain quality, safe housing. Further, mercy housing lakefront provides a variety of free programs and services to residents of their affordable housing projects which are designed to improve their lives and the communities in which they live.
To develop, own, and operate low-income housing and provide services to low-income families, elderly, handicapped, homeless, potentially homeless or otherwise disadvantaged persons
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $17,138,658 | $16,427,727 | ▼ $710,931 |
| Cash and Non-Interest-Bearing Accounts | $1,135,049 | $1,292,427 | ▲ $157,378 |
| Pledges and Grants Receivable | $825,664 | $589,078 | ▼ $236,586 |
| Accounts Receivable | $198,632 | $268,843 | ▲ $70,211 |
| Prepaid Expenses and Deferred Charges | $216,360 | $238,738 | ▲ $22,378 |
| Investments Other Securities | $-14,661,668 | $-16,397,429 | ▼ $1,735,761 |
| Total Assets | $37,938,296 | $45,086,430 | ▲ $7,148,134 |
| Other Assets Total | $33,085,601 | $42,667,046 | ▲ $9,581,445 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $24,204,287 | $23,733,865 | ▼ $470,422 |
| Other Liabilities | $5,055,441 | $4,025,287 | ▼ $1,030,154 |
| Accounts Payable and Accrued Expenses | $1,371,121 | $1,796,463 | ▲ $425,342 |
| Deferred Revenue | $292,997 | $239,042 | ▼ $53,955 |
| Total Liabilities | $30,923,846 | $29,794,657 | ▼ $1,129,189 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $3,632,251 | $10,948,601 | ▲ $7,316,350 |
| Net Assets With Donor Restrictions | $3,382,199 | $4,343,172 | ▲ $960,973 |
| Total Net Assets Fund Balance | $7,014,450 | $15,291,773 | ▲ $8,277,323 |
| Total Liabilities and Net Assets / Fund Balance | $37,938,296 | $45,086,430 | ▲ $7,148,134 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $14,521,181 | $10,559,000 | $25,080,181 |
| Land | $1,906,546 | - | $1,906,546 |
| Equipment | $0 | $801,345 | $801,345 |
| Other Assets Org | $1,170,871 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Other | Total |
|---|---|---|---|
| Bruce Saab | Vice President | $143,382 | $143,382 |
| Steve Thomas | Director | $61,746 | $61,746 |
Board Members and Trustees
| Name | Title |
|---|---|
| Mark Angelini | President |
| Fatmah Farraj | Vice President |
| Melissa Clayton | Vice President |
| George Adams | Director |
| Mary Fishman | Director |
| Joe Rosenblum | Secretary |
| Steve Spears | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $24,916,734
- Program Service Revenue
- $12,415,077
- Investment Income
- $0
- Other Revenue
- $213,346
- All Other Contributions
- $2,613,448
- Change in Net Assets
- $11,950,225
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $11,579,709 |
| Grants and Similar Amounts Paid | $7,854,421 |
| Salaries, Compensation, and Employee Benefits | $6,160,802 |
| Total Fundraising Expense | $1,340,581 |
| Professional Fundraising Fees | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $7,854,421 | - | - | $7,854,421 |
| Other Salaries and Wages | $4,562,874 | - | $455,937 | $5,018,811 |
| Occupancy | $2,377,886 | - | $237 | $2,378,123 |
| Depreciation Depletion | $969,462 | - | - | $969,462 |
| Fees for Services Other | $925,959 | - | $7,858 | $933,817 |
| Other Expenses | $765,305 | - | $210,202 | $765,305 |
| Interest | $731,239 | - | - | $731,239 |
| Other Employee Benefits | $609,964 | - | $104,066 | $714,030 |
| Fees for Services Management | $466,598 | - | - | $466,598 |
| Payroll Taxes | $262,520 | - | $34,226 | $296,746 |
| All Other Expenses | $-227,063 | $850 | $484,638 | $258,425 |
| Office Expenses | $197,740 | - | $13,574 | $211,314 |
| Pension Plan Contributions | $110,551 | - | $20,664 | $131,215 |
| Travel | $56,706 | - | $1,462 | $58,168 |
| Information Technology | $37,355 | - | - | $37,355 |
| Insurance | $20,802 | - | $2,847 | $23,649 |
| Fees for Services Accounting | $22,969 | - | - | $22,969 |
| Advertising | - | - | $4,825 | $4,825 |
| Fees for Services Legal | $1,375 | - | - | $1,375 |
| Conferences and Meetings | $425 | - | $45 | $470 |
| Total Functional Expenses | $24,253,501 | $850 | $1,340,581 | $25,594,932 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Schiff Residencesnear North | Chicago, IL | - | Low-income Housing | $350,222 |
| Englewood Apartments | Chicago, IL | - | Low-income Housing | $307,049 |
| Delmar Apartments | Chicago, IL | 501(c)3 | Low-income Housing | $287,291 |
| Wentworth | Chicago, IL | - | Low-income Housing | $286,081 |
| South Loop Apartments | Chicago, IL | - | Low-income Housing | $161,422 |
| Holland Apartments | Chicago, IL | - | Low-income Housing | $72,207 |
| River West Commons | Elgin, IL | - | Low-income Housing | $45,445 |
| Johnston Center | Milwaukee, WI | - | Low-income Housing | $36,497 |
| St Catherine Residence | Milwaukee, WI | - | Low-income Housing | $15,402 |
| Malden Arms Ii Apartments | Chicago, IL | - | Low-income Housing | $11,657 |
| Mcauley Apartments | Milwaukee, WI | - | Low-income Housing | $11,358 |
| Cannon Place | Danville, IL | - | Low-income Housing | $8,672 |
Fundraising, Events, and Gaming
- Fundraising activities
- Yes
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Gross Income | $258,571 |
| Fundraising Direct Expenses | $45,225 |
| Professional Fundraising Fees | $0 |
Fundraising Events
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Moving Fwd | $249,911 | $249,911 | $45,038 | $204,873 |
| Phil Desalvo Event | $8,660 | $8,660 | $187 | $8,473 |
| Total Events | $258,571 | $258,571 | $45,225 | $213,346 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Due to Affiliates | $3,957,896 |
| Other Liabilities | $67,391 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Backup withholding compliance
- Yes
- Business relationship with 35% controlled entity
- No
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 7A
“The board of trustees of mercy housing, inc., as sole member of mercy housing lakefront, has authority over mercy housing lakefront in various aspects of operations and management which are set forth in the reserved rights of the bylaws of the subsidiary corporation. The reserved rights held by the mercy housing board of trustees, many of which have been further delegated to the president and ceo of mercy housing, inc., include approval of the following activities: revisions to articles and bylaws; mergers and acquisitions; establishment of new entities; pledging, mortgaging or disposing of all or substantially all assets; obligations of new operating and mortgage debt; and, appointment or removal of governing board members and officers.”
Form 990, Part VI, Section A, Line 7B
“SAME AS LINE 7A”
Form 990, Part VI, Section B, Line 11B
“Form 990 is presented to all board members and comments and questions are addressed prior to the form 990 being filed.”
Form 990, Part VI, Section B, Line 12C
“The audit committee of mercy housing, inc. Reviews annually the conflict of interest disclosures and determines whether any action is required.”
Form 990, Part VI, Section C, Line 19
“Governing documents, conflict of interest policy and financial statements are made available to the public upon request.”
Filing and Contact Details
Filer
- Filer Name
- Mercy Housing Lakefront
- EIN
- 36-3453183
- Phone
- 3038303300
- Address
- 1600 BROADWAY SUITE 2000, DENVER, CO 80202
Signing Officer
- Name
- Chad Payne
- Title
- Treasurer
- Phone
- 3038303300
- Signed
- 2022-10-25
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Mark Angelini
- Formed
- 1986
- Legal Domicile
- Il
- Voting Board Members
- 3
- Independent Board Members
- 2
- Employees
- 0
- Volunteers
- 0
Preparer
- Firm
- Cohnreznick Llp
- Address
- 621 CAPITOL MALL SUITE 2150, SACRAMENTO, CA 95814
- Preparer
- Lisa M Cummings CPA
- Phone
- 9164429100
Supplemental Narrative
Additional Explanations
FORM 990, PART XI, LINE 9:
“Net transfers from related entities -3,672,902.”
FORM 990, PART XII, LINE 2B & 2C:
“The organization's financial statements are audited in accordance with generally accepted accounting principles. The audited financial statements are reported within the consolidated financial statements and supplemental information of mercy housing, inc. Responsibility for selection of an independent accountant and oversight of the annual audit is reserved by the mercy housing, inc. Board of trustees. Mercy housing, inc. Is the sole member of mercy housing lakefront. The organization received federal loans or awards and accordingly was included in the single audit act and omb circular a-133 audit as reported within the consolidated financial statements and supplemental information of mercy housing, inc.”
Financial Statement Notes
PART X, LINE 2:
“Mhi and its consolidated nonprofit corporations are exempt from federal and state income taxes under section 501(c)(3) of the internal revenue code and comparable state statutes. All nonprofit corporations are required to file tax returns with the internal revenue service (irs) and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and there are no other tax positions which must be considered for disclosure. For the years ended december 31, 2021 and 2020, the company did not identify any uncertain tax positions that qualify for either recognition or disclosure in the financial statements.”
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| IRS990/GrossReceiptsAmt | 0 | 37590382 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 2 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 37355 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 37355 |
| IRS990/InsuranceGrp/FundraisingAmt | 0 | 2847 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 20802 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 23649 |
| IRS990/InterestGrp/ProgramServicesAmt | 0 | 731239 |
| IRS990/InterestGrp/TotalAmt | 0 | 731239 |
| IRS990/InvestmentInJointVentureInd | 0 | 1 |
| IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt | 0 | -14661668 |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | -16397429 |
| IRS990/IRPDocumentCnt | 0 | 14 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 11360345 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 17138658 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 16427727 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 27788072 |
| IRS990/LegalDomicileStateCd | 0 | IL |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 1 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | THE MISSION OF MERCY HOUSING LAKEFRONT IS TO DIRECTLY FACILITATE THE PROVISION OF AFFORDABLE HOUSING TO FAMILIES, SENIORS, PEOPLE WITH SPECIAL NEEDS, HOMELESS AND POTENTIALLY HOMELESS INDIVIDUALS WHO WOULD OTHERWISE LACK THE FINANCIAL RESOURCES TO OBTAIN QUALITY, SAFE HOUSING. FURTHER, MERCY HOUSING LAKEFRONT PROVIDES A VARIETY OF FREE PROGRAMS AND SERVICES TO RESIDENTS OF THEIR AFFORDABLE HOUSING PROJECTS WHICH ARE DESIGNED TO IMPROVE THEIR LIVES AND THE COMMUNITIES IN WHICH THEY LIVE. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 24204287 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 23733865 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 7014450 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 15291773 |
| IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt | 0 | 213346 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 213346 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt | 0 | 3632251 |
| IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt | 0 | 10948601 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/FundraisingAmt | 0 | 237 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 2377886 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 2378123 |
| IRS990/OfficeExpensesGrp/FundraisingAmt | 0 | 13574 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 197740 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 211314 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 33085601 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 42667046 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | -3672902 |
| IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt | 0 | 104066 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 609964 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 714030 |
| IRS990/OtherExpensesGrp/Desc | 0 | INDIRECT COST |
| IRS990/OtherExpensesGrp/Desc | 1 | LP INVESTMENT LOSSES |
| IRS990/OtherExpensesGrp/Desc | 2 | BAD DEBTS |
| IRS990/OtherExpensesGrp/Desc | 3 | RESERVE FOR LOAN LOSSES |
| IRS990/OtherExpensesGrp/FundraisingAmt | 0 | 210202 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 1747805 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 1655121 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 1103487 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 765305 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 1958007 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 1655121 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 1103487 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 765305 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 5055441 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 4025287 |
| IRS990/OtherSalariesAndWagesGrp/FundraisingAmt | 0 | 455937 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 4562874 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 5018811 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/FundraisingAmt | 0 | 34226 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 262520 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 296746 |
| IRS990/PensionPlanContributionsGrp/FundraisingAmt | 0 | 20664 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 110551 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 131215 |
| IRS990/PledgesAndGrantsReceivableGrp/BOYAmt | 0 | 825664 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 589078 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 216360 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 238738 |
| IRS990/PrincipalOfficerNm | 0 | MARK ANGELINI |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 531390 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 531390 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 531390 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 3 | 531390 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 4 | 531390 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | NET RENTAL REVENUE |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | SERVICE FEES |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | DEVELOPER FEES |
| IRS990/ProgramServiceRevenueGrp/Desc | 3 | PROGRAM INTEREST |
| IRS990/ProgramServiceRevenueGrp/Desc | 4 | OTHER REVENUE |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 5948666 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 3829616 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 1639122 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 3 | 844690 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 4 | 152983 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 5948666 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 3829616 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 1639122 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 3 | 844690 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 4 | 152983 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | RESIDENT SERVICES AND PROGRAMS ARE PROVIDED FREE OF CHARGE TO RESIDENTS OF LOW-INCOME MULTI-FAMILY RENTAL PROPERTIES INCLUDING FAMILIES, SENIORS, AND PEOPLE WITH SPECIAL NEEDS. THE RESIDENT SERVICES AND PROGRAMS FALL INTO FOUR PRIMARY AREAS - EDUCATION, COMMUNITY, HEALTH AND WELLNESS, AND ECONOMIC STABILITY. RESIDENT SERVICES AND PROGRAMS ARE TAILORED TO MEET THE NEEDS OF EACH LOW-INCOME HOUSING COMMUNITY, INCLUDING AFTER-SCHOOL PROGRAMS FOR CHILDREN, GED AND ENGLISH COURSES, EMPLOYMENT INITIATIVES AND HOMEOWNERSHIP SEMINARS. |
| IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt | 0 | 11046032 |
| IRS990/ProgSrvcAccomActy2Grp/GrantAmt | 0 | 7854421 |
| IRS990/ProgSrvcAccomActy2Grp/RevenueAmt | 0 | 1177702 |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | ASSET MANAGEMENT SERVICES ARE PROVIDED TO LOW-INCOME MULTI-FAMILY RENTAL PROPERTIES AND INCLUDE PREPARING AND MANAGING ANNUAL OPERATING BUDGETS, PREPARING REPORTS FOR INVESTORS AND LENDERS, OVERSEEING THE PROPERTY MANAGEMENT SERVICES, AND ENSURING AND MONITORING COMPLIANCE TO MEET REGULATORY AND ELIGIBILITY REQUIREMENTS OF RESIDENTS. |
| IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt | 0 | 9547170 |
| IRS990/ProgSrvcAccomActy3Grp/RevenueAmt | 0 | 7383826 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 12600992 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 1724840 |
| IRS990/PYInvestmentIncomeAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 12193885 |
| IRS990/PYOtherRevenueAmt | 0 | 200201 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 14260478 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 6890413 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 6252533 |
| IRS990/PYTotalExpensesAmt | 0 | 20171258 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 27061671 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 11950225 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 1 |
| IRS990/RelatedOrganizationsAmt | 0 | 18959792 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 1 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 3853549 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt | 0 | 24916734 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt | 0 | 12600992 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 7725084 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 5562365 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 6099684 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt | 0 | 56904859 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 20816 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 11757 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 32573 |
| IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt | 0 | 60417051 |
| IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt | 0 | 258571 |
| IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt | 0 | 227282 |
| IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 372918 |
| IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 434369 |
| IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 429427 |
| IRS990ScheduleA/OtherIncome170Grp/TotalAmt | 0 | 1722567 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY170Pct | 0 | 0.96960 |
| IRS990ScheduleA/PublicSupportPY170Pct | 0 | 0.94570 |
| IRS990ScheduleA/PublicSupportTotal170Amt | 0 | 56878059 |
| IRS990ScheduleA/SubstantialContributorsTotAmt | 0 | 26800 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind | 0 | X |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt | 0 | 24916734 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt | 0 | 12600992 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 7725084 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 5562365 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 6099684 |
| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 56904859 |
| IRS990ScheduleA/TotalSupportAmt | 0 | 58659999 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 14521181 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 10559000 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 25080181 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 801345 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 801345 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 1906546 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 1906546 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 40621863 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 874312 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 2 | 1170871 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | DUE FROM AFFILIATES |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | PREDEVELOPMENT COSTS |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 2 | RESTRICTED PROPERTY RESERVES |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 3957896 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 67391 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | DUE TO AFFILIATES |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | OTHER LIABILITIES |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | MHI AND ITS CONSOLIDATED NONPROFIT CORPORATIONS ARE EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND COMPARABLE STATE STATUTES. ALL NONPROFIT CORPORATIONS ARE REQUIRED TO FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE (IRS) AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THERE ARE NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020, THE COMPANY DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 16427727 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 42667046 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 4025287 |
| IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt | 0 | 45225 |
| IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm | 0 | MOVING FWD |
| IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm | 0 | PHIL DESALVO EVENT |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt | 0 | 249911 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt | 0 | 8660 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt | 0 | 258571 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt | 0 | 249911 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt | 0 | 8660 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt | 0 | 258571 |
| IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt | 0 | 213346 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt | 0 | 45225 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt | 0 | 45038 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2021 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $45,086,430
- Liabilities
- $29,794,657
- Net assets
- $15,291,773
- Revenue
- $37,545,157
- Expenses
- $25,594,932
- Net income
- $11,950,225