Civic Intelligence

Mortgage Resolution Fund LLC

990 • Fiscal year 2015 • EIN 45-3801619

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 15, 2016

Organization Profilemortgageresolutionfund.org
230 west monroe street Suite 1250Chicago, IL 60606

(202) 706-7498

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

97th percentile

1.35x

Higher debt load relative to assets than 97% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

85th percentile

1.51x

Higher debt load relative to revenue than 85% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

79th percentile

20%

Higher net margin than 79% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

2nd percentile

-27%

Faster asset growth than 2% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

17th percentile

-14%

Faster revenue growth than 17% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$24,450,925

Down $8,895,295 (-27%) from 2014

Net Assets

Up

-$8,570,910

Up $3,656,637 (+30%) from 2014

Liabilities

Down

$33,021,835

Down $12,551,932 (-28%) from 2014

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin79th percentile

Revenue

Down

$21,912,169

Down $3,503,196 (-14%) from 2014

Expenses

Down

$17,546,293

Down $6,872,800 (-28%) from 2014

Net Income

Up

$4,365,876

Up $3,369,604 (+338%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0-$50MAssets 2013: $61,582,742Liabilities 2013: $68,592,840Net Assets 2013: -$7,010,0982013Assets 2014: $33,346,220Liabilities 2014: $45,573,767Net Assets 2014: -$12,227,5472014Assets 2015: $24,450,925Liabilities 2015: $33,021,835Net Assets 2015: -$8,570,9102015Assets 2016: $8,788,037Liabilities 2016: $17,584,427Net Assets 2016: -$8,796,3902016Assets 2017: $2,609,105Liabilities 2017: $5,840,417Net Assets 2017: -$3,231,3122017Assets 2018: $63,396Liabilities 2018: $380,971Net Assets 2018: -$317,5752018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2015

Assets$24,450,925
Liabilities$33,021,835
Net Assets-$8,570,910
Open 2015 Filing

Operations Trend

Revenue Growth17th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MRevenue 2013: $4,774,918Expenses 2013: $5,622,474Net Income 2013: -$847,5562013Revenue 2014: $25,415,365Expenses 2014: $24,419,093Net Income 2014: $996,2722014Revenue 2015: $21,912,169Expenses 2015: $17,546,293Net Income 2015: $4,365,8762015Revenue 2016: $6,443,376Expenses 2016: $6,239,364Net Income 2016: $204,0122016Revenue 2017: $4,271,415Expenses 2017: $4,120,077Net Income 2017: $151,3382017Revenue 2018: $1,456,150Expenses 2018: $35,917Net Income 2018: $1,420,2332018Revenue 2019: $0Expenses 2019: $3,986Net Income 2019: -$3,9862019

Highlighted filing

2015

Revenue$21,912,169
Expenses$17,546,293
Net Income$4,365,876
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 15, 2016
Return Version
2015v2.1
Gross Receipts
$21,912,169
Mission and Program Overview

Mission

to lessen the burdens of state & federal govt and to relieve the poor & distressed & promote social welfare by lessening neighborhood tensions increased by the foreclosure crisis

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$5,600,129$14,947,855▲ $9,347,726
Investments Program Related$26,902,470$8,537,284▼ $18,365,186
Accounts Receivable$583,790$839,511▲ $255,721
Land, Buildings, and Equipment, Net$130,331$74,475▼ $55,856
Prepaid Expenses and Deferred Charges$129,500$51,800▼ $77,700
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$33,346,220$24,450,925▼ $8,895,295
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$34,108,420$29,675,173▼ $4,433,247
Deferred Revenue$2,742,177$0▼ $2,742,177
Accounts Payable and Accrued Expenses$7,647,520$2,289,869▼ $5,357,651
Escrow Account Liability$730,882$712,025▼ $18,857
Other Liabilities$344,768$344,768→ $0
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$45,573,767$33,021,835▼ $12,551,932
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-12,227,547$-8,570,910▲ $3,656,637
Total Net Assets Fund Balance$-12,227,547$-8,570,910▲ $3,656,637
Total Liabilities and Net Assets / Fund Balance$33,346,220$24,450,925▼ $8,895,295

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$74,475$204,808$279,283
Investment Program Related Org$3,796,385--
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Steve spearsChair,Director/Manager
Rob GrossingerDirector Manager
CRAIG MELLENDiCKDirector/manager
Tom BledsoeSecretary, Director/manager
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$21,912,169
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$4,365,876

Audited Revenue Reconciliation

Revenue per Audited Statements
$21,912,169
Total Revenue per Audited Statements
$21,912,169
Total Revenue per Form 990
$21,912,169
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$17,546,293
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$16,824,757$6,561-$16,824,757
Fees for Services Other$344,929--$344,929
Fees for Services Management$105,468--$105,468
Fees for Services Accounting-$94,000-$94,000
Fees for Services Legal-$93,448-$93,448
Depreciation Depletion$55,856--$55,856
Office Expenses$7,200--$7,200
Insurance-$2,908-$2,908
Total Functional Expenses$17,338,210$208,083$0$17,546,293

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$17,546,293
Total Expenses per Audited Statements$17,546,293
Total Expenses per Form 990$17,546,293
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Notes Payable- Affiliates$344,768
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Section B Question 11B

“The entire Board is given a copy of the 990 return to review prior to filing the 990 return.”

Part VI Section B Question 12C

“An annual conflict of interest disclosure compliance is performed by the organization. This exercise requires each covered party to read the business ethics policy and complete the conflict of interest disclosure form identifying any possible conflicts known by the covered party.”

Part VI Section C Question 19

“documents made available to public upon request”

Filing and Contact Details

Filer

Filer Name
Mortgage Resolution Fund LLC
EIN
45-3801619
In Care Of
% ENTERPRISE COMMUNITY PARTNER
Phone
2027067498
Address
230 west monroe street Suite 1250, CHICAGO, IL 60606

Signing Officer

Name
Steve Spears
Title
Tmp
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Spears
Formed
2011
Legal Domicile
De
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Cohnreznick Llp
Address
7501 WISCONSIN AVENUE 400E, BETHESDA, MD 20814-6583
Preparer
Ed Ryan CPA
Phone
3016529100
Supplemental Narrative

Additional Explanations

990/part XI/line 9

“IMPAIRMENT $ (1,322,245) member contributions 613,000 adjustment 6 total (709,239)”

Part XII Line 2C

“No separate committee , only board.”

Part X - Prepaid Expense and Deferred Charges

“Prepaid expense and deferred charges”

Financial Statement Notes

Supplemental Information

“Custodial funds are held pursuant to the loan agreement with the investor, used for holding period costs of the mortgage portfolio.”

fin 48

“MRF is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code ("IRC"), except for unrelated business activities as defined in the IRC. For the years ended December 31, 2015 and 2014, no unrelated business income was earned. MRF is the single member of its two wholly owned for-profit subsidiaries. The subsidiaries are treated as disregarded entities under the IRC whereby MRF reports the activities of these subsidiaries and the existence of their consolidated interest. MRF's Federal Exempt Organization Business Income Tax Returns are subject to examination by the IRS, generally for three years after they were filed. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2013 remain open.”

Raw XML AppendixShowing 400 of 453 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt07647520
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt02289869
IRS990/AccountsReceivableGrp/BOYAmt0583790
IRS990/AccountsReceivableGrp/EOYAmt0839511
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0to lessen the burdens of state & federal govt and to relieve the poor & distressed & promote social welfare by lessening neighborhood tensions increased by the foreclosure crisis
IRS990/AdvertisingGrp/TotalAmt00
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/AuditCommitteeInd0false
IRS990/BenefitsToMembersGrp/TotalAmt00
IRS990/BooksInCareOfDetail/PersonNm0ENTERPRISE COMMUNITY PARTNER
IRS990/BooksInCareOfDetail/PhoneNum02027067498
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt011000 BROKEN LAND PKWY
IRS990/BooksInCareOfDetail/USAddress/CityNm0columbia
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MD
IRS990/BooksInCareOfDetail/USAddress/ZIPCd021044
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOfficerEntInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt05600129
IRS990/CashNonInterestBearingGrp/EOYAmt014947855
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt00
IRS990/CompDisqualPersonsGrp/TotalAmt00
IRS990/CompensationFromOtherSrcsInd0false
IRS990/ConferencesMeetingsGrp/TotalAmt00
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0true
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt00
IRS990/CYOtherExpensesAmt017546293
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt021912169
IRS990/CYRevenuesLessExpensesAmt04365876
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt017546293
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt021912169
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DeferredRevenueGrp/BOYAmt02742177
IRS990/DeferredRevenueGrp/EOYAmt00
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/ProgramServicesAmt055856
IRS990/DepreciationDepletionGrp/TotalAmt055856
IRS990/Desc0PERFORMED individual performance plan counseling of borrowers IN illINOIS AND OHIO. sold 329 assets helping to stabilize the communities.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0true
IRS990/DocumentRetentionPolicyInd0false
IRS990/DonorAdvisedFundInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/EscrowAccountLiabilityGrp/BOYAmt0730882
IRS990/EscrowAccountLiabilityGrp/EOYAmt0712025
IRS990/ExpenseAmt017338210
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt094000
IRS990/FeesForServicesAccountingGrp/TotalAmt094000
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt093448
IRS990/FeesForServicesLegalGrp/TotalAmt093448
IRS990/FeesForServicesLobbyingGrp/TotalAmt00
IRS990/FeesForServicesManagementGrp/ProgramServicesAmt0105468
IRS990/FeesForServicesManagementGrp/TotalAmt0105468
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt0344929
IRS990/FeesForServicesOtherGrp/TotalAmt0344929
IRS990/FeesForServicesProfFundraising/TotalAmt00
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt00
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignGrantsGrp/TotalAmt00
IRS990/ForeignOfficeInd0false
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt00.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt10.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt20.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt30.0
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/PersonNm0Steve spears
IRS990/Form990PartVIISectionAGrp/PersonNm1TOM BLEDSOE
IRS990/Form990PartVIISectionAGrp/PersonNm2CRAIG MELLENDiCK
IRS990/Form990PartVIISectionAGrp/PersonNm3ROB GROSSINGER
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair,Director/Manager
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY, DIRECTOR/MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR/MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR MANAGER
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02011
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt04
IRS990/GrantsPayableGrp/BOYAmt00
IRS990/GrantsPayableGrp/EOYAmt00
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt021912169
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0true
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt04
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartVInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/ManagementAndGeneralAmt02908
IRS990/InsuranceGrp/TotalAmt02908
IRS990/IntangibleAssetsGrp/BOYAmt00
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/TotalAmt00
IRS990/InventoriesForSaleOrUseGrp/BOYAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt00
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt026902470
IRS990/InvestmentsProgramRelatedGrp/EOYAmt08537284
IRS990/InvestmentsPubTradedSecGrp/BOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0204808
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0130331
IRS990/LandBldgEquipBasisNetGrp/EOYAmt074475
IRS990/LandBldgEquipCostOrOtherBssAmt0279283
IRS990/LegalDomicileStateCd0DE
IRS990/LoanOutstandingInd0false
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0MRF, LLC WAS ESTABLISHED TO LESSEN THE BURDENS OF STATE HOUSING AGENCIES, AS WELL AS THE FEDERAL GOVERNMENT, RELIEVE THE POOR AND DISTRESSED AND PROMOTE SOCIAL WELFARE THROUGH THE GOALS OF LESSENING NEIGHBORHOOD TENSIONS, COMBATING COMMUNITY DETERIORATION, AND ELIMINATING PREJUDICE AND DISCRIMINATION, ALL OF WHICH HAVE INCREASED AS A RESULT OF THE FORECLOSURE CRISIS. AS NOTED ABOVE, COMMUNITIES, PARTICULARLY LOW-INCOME AND MINORITY COMMUNITIES, HAVE ALREADY BEEN RAVAGED BY THE EFFECTS OF MILLIONS OF FORECLOSURES, AND CURRENT EFFORTS AND RESOURCES ARE SIMPLY NOT ADEQUATE TO ADDRESS THE IMPACT OF AN ADDITIONAL 12 MILLION HOMES IN DEFAULT OR SEVERE RISK THEREOF. TO ACCOMPLISH ITS PURPOSE, MRF WILL ASSIST STATE AGENCIES IN KEEPING FAMILIES IN THEIR HOMES AND STABILIZING NEIGHBORHOODS BY PURCHASING DELINQUENT MORTGAGE NOTES AT A DISCOUNT; PERMANENTLY MODIFYING THE MORTGAGES OF QUALIFYING HOUSEHOLDS TO AN AFFORDABLE LEVEL; AND PROVIDING HOUSEHOLDS NOT ELIGIBLE FOR MODIFICATION WITH SUPPORT T
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt034108420
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt029675173
IRS990/NetAssetsOrFundBalancesBOYAmt0-12227547
IRS990/NetAssetsOrFundBalancesEOYAmt0-8570910
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ProgramServicesAmt07200
IRS990/OfficeExpensesGrp/TotalAmt07200
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt0-709239
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0BANK CHARGES
IRS990/OtherExpensesGrp/Desc1LICENSES & FEES
IRS990/OtherExpensesGrp/Desc2REAL ESTATE COST
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt011166
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt16561
IRS990/OtherExpensesGrp/ProgramServicesAmt016824757
IRS990/OtherExpensesGrp/TotalAmt011166
IRS990/OtherExpensesGrp/TotalAmt16561
IRS990/OtherExpensesGrp/TotalAmt216824757
IRS990/OtherLiabilitiesGrp/BOYAmt0344768
IRS990/OtherLiabilitiesGrp/EOYAmt0344768
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt00
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0129500
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt051800
IRS990/PrincipalOfficerNm0STEVE SPEARS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0523920
IRS990/ProgramServiceRevenueGrp/BusinessCd1531390
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/Desc1SALE OF REAL ESTATE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01778176
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt120133993
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01778176
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt120133993
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt024419093
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt025415365
IRS990/PYRevenuesLessExpensesAmt0996272
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt024419093
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt025415365
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt04365876
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RevenueAmt021912169
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt021912109
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt025415365
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt04774938
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0480701
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt052583113
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt052583113
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt021912109
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt025415365
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt04774938
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0480701
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/Total509Grp/TotalAmt052583113
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt021912109
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt025415365
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt04774938
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0480701
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt052583113
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt074475
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0204808
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0279283
IRS990ScheduleD/ExpensesSubtotalAmt017546293
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt04740899
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt13796385
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0MORTGAGES RECEIVABLE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1REO
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1F
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0344768
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE- AFFILIATES
IRS990ScheduleD/RevenueSubtotalAmt021912169
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Custodial funds are held pursuant to the loan agreement with the investor, used for holding period costs of the mortgage portfolio.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1MRF is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code ("IRC"), except for unrelated business activities as defined in the IRC. For the years ended December 31, 2015 and 2014, no unrelated business income was earned. MRF is the single member of its two wholly owned for-profit subsidiaries. The subsidiaries are treated as disregarded entities under the IRC whereby MRF reports the activities of these subsidiaries and the existence of their consolidated interest. MRF's Federal Exempt Organization Business Income Tax Returns are subject to examination by the IRS, generally for three years after they were filed. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2013 remain open.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SUPPLEMENTAL INFORMATION
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1fin 48
IRS990ScheduleD/TotalBookValueLandBuildingsAmt074475
IRS990ScheduleD/TotalBookValueProgramRltdAmt08537284
IRS990ScheduleD/TotalExpensesPerForm990Amt017546293
IRS990ScheduleD/TotalLiabilityAmt0344768
IRS990ScheduleD/TotalRevenuePerForm990Amt021912169
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt021912169
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt017546293
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The entire Board is given a copy of the 990 return to review prior to filing the 990 return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1An annual conflict of interest disclosure compliance is performed by the organization. This exercise requires each covered party to read the business ethics policy and complete the conflict of interest disclosure form identifying any possible conflicts known by the covered party.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2documents made available to public upon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IMPAIRMENT $ (1,322,245) member contributions 613,000 adjustment 6 total (709,239)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO SEPARATE COMMITTEE , ONLY BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PREPAID EXPENSE AND DEFERRED CHARGES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI SECTION B QUESTION 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI SECTION B QUESTION 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI SECTION C QUESTION 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3990/PART XI/LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII LINE 2C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART X - PREPAID EXPENSE AND DEFERRED CHARGES
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0MRF LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1MRF LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0MRF Illinois One LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1MRF OHIO ONE LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0453805595
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1371731121
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt023456484
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt1784634
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0DE
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1DE
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0hold title
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1HOLD TITLE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt011000 Broken Land Pkwy Ste 700
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt111000 BROKEN LAND PKWY STE 700
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0Columbia
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm1COLUMBIA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0MD
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd1MD
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd021044
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd121044
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt00
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt033346220
IRS990/TotalAssetsEOYAmt024450925
IRS990/TotalAssetsGrp/BOYAmt033346220
IRS990/TotalAssetsGrp/EOYAmt024450925
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0208083
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt017338210
IRS990/TotalFunctionalExpensesGrp/TotalAmt017546293
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt045573767
IRS990/TotalLiabilitiesEOYAmt033021835
IRS990/TotalLiabilitiesGrp/BOYAmt045573767
IRS990/TotalLiabilitiesGrp/EOYAmt033021835
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-12227547

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$24,450,925
Liabilities
$33,021,835
Net assets
-$8,570,910
Revenue
$21,912,169
Expenses
$17,546,293
Net income
$4,365,876
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.00$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.06$0.38$0.32$1.46$0.04$1.42
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.61$5.84$3.23$4.27$4.12$0.15
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.79$17.6$8.80$6.44$6.24$0.20
2015Detailed filing. Detailed filing data is available for this year.$24.5$33.0$8.57$21.9$17.5$4.37
2014Detailed filing. Detailed filing data is available for this year.$33.3$45.6$12.2$25.4$24.4$1.00
2013Summary only. Only limited summary data is available for this year.$61.6$68.6$7.01$4.77$5.62$0.85