Civic Intelligence

Mrc Melrose Housing Development Fund Corporation

990 • Fiscal year 2021 • EIN 46-1680265

Jul 01, 2020 to Jun 30, 2021 • Filed on May 04, 2022

Organization ProfileMRCBX.ORG
576B East 165th StreetBronx, NY 10456

(718) 589-7858

Siviq Scores

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

Liabilities / Assets

60th percentile

1.08x

Higher debt load relative to assets than 60% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

68th percentile

7.39x

Higher debt load relative to revenue than 68% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Net Margin

64th percentile

-5.2%

Higher net margin than 64% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

54th percentile

$83,078

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 15.0% of source-year revenue.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2021

Asset Growth

66th percentile

-1.1%

Faster asset growth than 66% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

59th percentile

2.7%

Faster revenue growth than 59% of similar nonprofits.

2021 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets60th percentile

Assets

Down

$3,805,736

Down $43,200 (-1.1%) from 2020

Net Assets

Down

-$293,210

Down $28,917 (-11%) from 2020

Liabilities

Down

$4,098,946

Down $14,283 (-0.3%) from 2020

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin64th percentile

Revenue

Up

$554,595

Up $14,670 (+2.7%) from 2020

Expenses

Down

$583,512

Down $32,792 (-5.3%) from 2020

Net Income

Up

-$28,917

Up $47,462 (+62%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2014: $4,149,519Liabilities 2014: $4,133,700Net Assets 2014: $15,8192014Assets 2015: $4,017,255Liabilities 2015: $4,067,366Net Assets 2015: -$50,1112015Assets 2016: $4,044,758Liabilities 2016: $4,112,297Net Assets 2016: -$67,5392016Assets 2017: $4,015,230Liabilities 2017: $4,115,090Net Assets 2017: -$99,8602017Assets 2018: $3,944,453Liabilities 2018: $4,113,585Net Assets 2018: -$169,1322018Assets 2019: $3,926,638Liabilities 2019: $4,114,552Net Assets 2019: -$187,9142019Assets 2020: $3,848,936Liabilities 2020: $4,113,229Net Assets 2020: -$264,2932020Assets 2021: $3,805,736Liabilities 2021: $4,098,946Net Assets 2021: -$293,2102021Assets 2022: $3,780,025Liabilities 2022: $4,130,212Net Assets 2022: -$350,1872022Assets 2023: $3,679,406Liabilities 2023: $4,133,145Net Assets 2023: -$453,7392023

Highlighted filing

2021

Assets$3,805,736
Liabilities$4,098,946
Net Assets-$293,210
Open 2021 Filing

Operations Trend

Revenue Growth59th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2014: $508,886Expenses 2014: $493,067Net Income 2014: $15,8192014Revenue 2015: $505,792Expenses 2015: $571,722Net Income 2015: -$65,9302015Revenue 2016: $498,002Expenses 2016: $513,432Net Income 2016: -$15,4302016Revenue 2017: $504,093Expenses 2017: $551,791Net Income 2017: -$47,6982017Revenue 2018: $513,812Expenses 2018: $583,084Net Income 2018: -$69,2722018Revenue 2019: $541,857Expenses 2019: $560,639Net Income 2019: -$18,7822019Revenue 2020: $539,925Expenses 2020: $616,304Net Income 2020: -$76,3792020Revenue 2021: $554,595Expenses 2021: $583,512Net Income 2021: -$28,9172021Revenue 2022: $551,042Expenses 2022: $608,019Net Income 2022: -$56,9772022Revenue 2023: $544,053Expenses 2023: $643,915Net Income 2023: -$99,8622023

Highlighted filing

2021

Revenue$554,595
Expenses$583,512
Net Income-$28,917
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 4, 2022
Return Version
2020v4.2
Gross Receipts
$554,595
Mission and Program Overview

Mission

The corporation is organized exclusively for the purpose of developing on a tax-exempt basis, an affordable housing project for persons of low income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,263,750$3,172,016▼ $91,734
Accounts Receivable$65,270$140,491▲ $75,221
Prepaid Expenses and Deferred Charges$27,386$27,386→ $0
Intangible Assets$19,000$19,000→ $0
Cash and Non-Interest-Bearing Accounts$54,821$11,051▼ $43,770
Total Assets$3,848,936$3,805,736▼ $43,200
Other Assets Total$418,709$435,792▲ $17,083
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,063,249$4,063,249→ $0
Other Liabilities$33,094$35,697▲ $2,603
Accounts Payable and Accrued Expenses$16,886$0▼ $16,886
Total Liabilities$4,113,229$4,098,946▼ $14,283
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-264,293$-293,210▼ $28,917
Total Net Assets Fund Balance$-264,293$-293,210▼ $28,917
Total Liabilities and Net Assets / Fund Balance$3,848,936$3,805,736▼ $43,200

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,167,016$768,818$3,935,834
Land$5,000-$5,000
Other Assets Org$1,710--
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Paul MooreExecutive DirectorPT$83,078$83,078

Board Members and Trustees

NameTitle
Helen Foreman-hinesPresident
Glenda CampbellVice President
Abigail TaylorDirector
Ivy D FordeDirector
Izzy KukajDirector
Jackie Forbes-clarkDirector
Sandra AikeDirector
Kinanda MurraySecretary
Valerie ToonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$542,711
Investment Income
$0
Other Revenue
$11,884
Change in Net Assets
$-28,917
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$583,512
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
Fees for Services Other$153,934--$153,934
Depreciation Depletion$99,133--$99,133
Insurance$39,614--$39,614
Fees for Services Management$38,830--$38,830
Other Expenses$15,824--$15,824
Fees for Services Accounting$15,200--$15,200
Fees for Services Legal$9,406--$9,406
Office Expenses$7,524--$7,524
Total Functional Expenses$583,512$0$0$583,512
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposit$35,697
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A draft of form 990 is reviewed and approved by the board prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Board members are required to disclose any conflicts of interest on an anuual basis and as potential conflicts arise.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, form 990 and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Mrc Melrose Housing Development Fund
EIN
46-1680265
Phone
7185897858
Address
576B EAST 165TH STREET, BRONX, NY 10456

Signing Officer

Name
Paul Moore
Title
Executive Director
Phone
6466758248
Signed
2022-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Moore
Formed
2013
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
Friedman Llp
Address
ONE LIBERTY PLAZA 165 BROADWAY 21ST, FL, NEW YORK, NY 10006
Preparer
Sarah Avery
Phone
2128427000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Payroll funding: program service expenses 153,934. Management and general expenses 0. Fundraising expenses 0. Total expenses 153,934.”

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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0557332
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0539925
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0541857
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0513812
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0504093
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02657019
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt02657019
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0557332
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0539925
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0541857
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0513812
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0504093
IRS990ScheduleA/Total509Grp/TotalAmt02657019
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0557332
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0539925
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0541857
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0513812
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0504093
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02657019
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03167016
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0768818
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03935834
IRS990ScheduleD/LandGrp/BookValueAmt05000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt05000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0388674
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt137110
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt28298
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt31710
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM AFFILIATE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3PREPAID RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt035697
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSIT
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03172016
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0435792
IRS990ScheduleD/TotalLiabilityAmt035697
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF FORM 990 IS REVIEWED AND APPROVED BY THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST ON AN ANUUAL BASIS AND AS POTENTIAL CONFLICTS ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PAYROLL FUNDING: PROGRAM SERVICE EXPENSES 153,934. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 153,934.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MORRISANIA REVITALIZATION CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0133113927
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0PUBLIC CHARITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0576 EAST 165TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BRONX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd010456
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0153934
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MORRISANIA REVITALIZATION CO
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03848936
IRS990/TotalAssetsEOYAmt03805736
IRS990/TotalAssetsGrp/BOYAmt03848936
IRS990/TotalAssetsGrp/EOYAmt03805736
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0583512
IRS990/TotalFunctionalExpensesGrp/TotalAmt0583512
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04113229
IRS990/TotalLiabilitiesEOYAmt04098946
IRS990/TotalLiabilitiesGrp/BOYAmt04113229
IRS990/TotalLiabilitiesGrp/EOYAmt04098946
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-264293
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-293210
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0583512
IRS990/TotalProgramServiceRevenueAmt0542711
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0554595
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0554595
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03848936
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03805736
IRS990/TotReportableCompRltdOrgAmt083078
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,805,736
Liabilities
$4,098,946
Net assets
-$293,210
Revenue
$554,595
Expenses
$583,512
Net income
-$28,917
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$3.68$4.13$0.45$0.54$0.64$0.10
2022Detailed filing. Detailed filing data is available for this year.$3.78$4.13$0.35$0.55$0.61$0.06
2021Detailed filing. Detailed filing data is available for this year.$3.81$4.10$0.29$0.55$0.58$0.03
2020Summary only. Only limited summary data is available for this year.$3.85$4.11$0.26$0.54$0.62$0.08
2019Summary only. Only limited summary data is available for this year.$3.93$4.11$0.19$0.54$0.56$0.02
2018Summary only. Only limited summary data is available for this year.$3.94$4.11$0.17$0.51$0.58$0.07
2017Summary only. Only limited summary data is available for this year.$4.02$4.12$0.10$0.50$0.55$0.05
2016Summary only. Only limited summary data is available for this year.$4.04$4.11$0.07$0.50$0.51$0.02
2015Summary only. Only limited summary data is available for this year.$4.02$4.07$0.05$0.51$0.57$0.07
2014Summary only. Only limited summary data is available for this year.$4.15$4.13$0.02$0.51$0.49$0.02