Liabilities / Assets
70th percentile
Higher debt load relative to assets than 70% of similar nonprofits.
EIN 52-6058564 • 501(c)3 • Baltimore, MD
Profile
Memorial apartments is focused on providing tenant services as well as affordable housing for low-income senior tenants and provides a center for community arts, education and job-training
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
70th percentile
Higher debt load relative to assets than 70% of similar nonprofits.
Liabilities / Revenue
99th percentile
Higher debt load relative to revenue than 99% of similar nonprofits.
Net Margin
2nd percentile
Higher net margin than 2% of similar nonprofits.
Top Officer Pay
9th percentile
Higher top officer pay than 9% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
33rd percentile
Faster asset growth than 33% of similar nonprofits.
Revenue Growth
19th percentile
Faster revenue growth than 19% of similar nonprofits.
Assets
Up$28,875,840
Up $225,295 (+0.8%) from 2023
Liabilities
Up$12,809,588
Up $863,305 (+7.2%) from 2023
Net Assets
Down$16,066,252
Down $638,010 (-3.8%) from 2023
Revenue
Down$347,903
Down $31,364 (-8.3%) from 2023
Expenses
Up$985,913
Up $54,529 (+5.9%) from 2023
Net Income
Down-$638,010
Down $85,893 (-16%) from 2023
Most recent year
2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
Memorial apartments is focused on providing tenant services as well as affordable housing for the elderly
The corporation provides tenant services to low-income seniors at an affordable housing apartment complex.. The corporation also provides a center for community arts, education and job-training in baltimore, maryland.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Rtn Earn Endowment Incm Other Fnds | $16,704,262 | $16,066,252 | ▼ $638,010 |
| Land, Buildings, and Equipment, Net | $8,917,370 | $8,489,456 | ▼ $427,914 |
| Other Notes and Loans Receivable, Net | $4,998,832 | $5,611,143 | ▲ $612,311 |
| Intangible Assets | $120,387 | $96,309 | ▼ $24,078 |
| Cash and Non-Interest-Bearing Accounts | $27,887 | $27,098 | ▼ $789 |
| Accounts Receivable | $3,160 | $3,160 | → $0 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Total Assets | $28,650,545 | $28,875,840 | ▲ $225,295 |
| Other Assets Total | $14,582,909 | $14,648,674 | ▲ $65,765 |
| Liabilities | |||
| Other Liabilities | $6,146,774 | $6,974,412 | ▲ $827,638 |
| Mortgage Notes Payable Secured by Investment Property | $5,430,000 | $5,356,179 | ▼ $73,821 |
| Accounts Payable and Accrued Expenses | $369,509 | $478,997 | ▲ $109,488 |
| Total Liabilities | $11,946,283 | $12,809,588 | ▲ $863,305 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $16,704,262 | $16,066,252 | ▼ $638,010 |
| Total Liabilities and Net Assets / Fund Balance | $28,650,545 | $28,875,840 | ▲ $225,295 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $7,195,067 | $531,596 | $7,726,663 |
| Equipment | $922,988 | $464,068 | $1,387,056 |
| Leasehold Improvements | $221,737 | - | $221,737 |
| Land | $101,178 | - | $101,178 |
| Other Land Buildings | $48,486 | - | $48,486 |
| Other Assets Org | $37,938 | - | - |
| Name | Title |
|---|---|
| Ashiah Parker | President |
| Evelyn Williams | Member |
| Micheal Booth | Member |
| Ruth Royster | Member |
| Dr Mathew Mcnabney | Secretary |
| Doug Kelso | Treasurer |
| Line Item | Amount |
|---|---|
| Other Expenses | $985,913 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Interest | $403,664 | - | - | $403,664 |
| Depreciation Depletion | $389,976 | - | - | $389,976 |
| Other Expenses | $71,239 | - | - | $71,239 |
| Fees for Services Accounting | - | $12,182 | - | $12,182 |
| Insurance | - | $1,091 | - | $1,091 |
| Office Expenses | - | $60 | - | $60 |
| Total Functional Expenses | $972,580 | $13,333 | $0 | $985,913 |
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $985,913 |
| Total Expenses per Audited Statements | $985,913 |
| Total Expenses per Form 990 | $985,913 |
| Expenses Not Reported on Financial Statements | $0 |
| Expenses Not Reported on Form 990 | $0 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Liability | Amount |
|---|---|
| Deferred Interest Receivable | $5,611,143 |
| Deferred Developer Fee | $1,046,746 |
| Deffered Rent | $225,478 |
| Notes Payable Trf Current Portion | $73,745 |
| Loan Payable Somerset | $17,300 |
“Line 11b explanation - board reviews and approves the form 990 before filing it with the internal revenue service”
“The organization makes its governing documents available to the public upon request”
“As a non-profit corporation, no provision or benefit for income taxes is included in these financial statements since the entity is exempt from federal income taxes, except for tax on unrelated business income, under section 501(c)(3) of the internal revenue code. The corporation had no unrelated business income for the year ended december 31, 2021. The corporation's federal information returns for the years ended december 31, 2021, 2020 and 2019 are subject to examination by the irs, generally for three years after they were filed.”
“DEFERRED RENT”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
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| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 478997 |
| IRS990/AccountsReceivableGrp/BOYAmt | 0 | 3160 |
| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 3160 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | THE CORPORATION PROVIDES TENANT SERVICES TO LOW-INCOME SENIORS AT AN AFFORDABLE HOUSING APARTMENT COMPLEX.. THE CORPORATION ALSO PROVIDES A CENTER FOR COMMUNITY ARTS, EDUCATION AND JOB-TRAINING IN BALTIMORE, MARYLAND. |
| IRS990/AllOtherContributionsAmt | 0 | 79706 |
| IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt | 0 | SOMERSET DEVELOPMENT COMPANY |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 2023632090 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 5101 WISCONSIN AVENUE NW SUITE 410 |
| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | WASHINGTON |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | DC |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 20016 |
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| IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt | 0 | 0 |
| IRS990/CashNonInterestBearingGrp/BOYAmt | 0 | 27887 |
| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 27098 |
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| IRS990/CollectionsOfArtInd | 0 | 0 |
| IRS990/CompensationFromOtherSrcsInd | 0 | 0 |
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| IRS990/ConservationEasementsInd | 0 | 0 |
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| IRS990/CYOtherExpensesAmt | 0 | 985913 |
| IRS990/CYOtherRevenueAmt | 0 | 0 |
| IRS990/CYProgramServiceRevenueAmt | 0 | 268197 |
| IRS990/CYRevenuesLessExpensesAmt | 0 | -638010 |
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| IRS990/CYTotalExpensesAmt | 0 | 985913 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 0 |
| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 347903 |
| IRS990/DecisionsSubjectToApprovaInd | 0 | 0 |
| IRS990/DeductibleArtContributionInd | 0 | 0 |
| IRS990/DeductibleNonCashContriInd | 0 | 0 |
| IRS990/DelegationOfMgmtDutiesInd | 0 | 0 |
| IRS990/DepreciationDepletionGrp/ProgramServicesAmt | 0 | 389976 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 389976 |
| IRS990/Desc | 0 | THE CORPORATION PROVIDES TENANT SERVICES FOR AFFORDABLE RENTAL HOUSING FOR LOW-INCOME SENIOR TENANTS AND PROVIDES A CENTER FOR COMMUNITY ARTS, EDUCATION AND JOB-TRAINING |
| IRS990/DescribedInSection501c3Ind | 0 | 1 |
| IRS990/DisregardedEntityInd | 0 | 0 |
| IRS990/DocumentRetentionPolicyInd | 0 | 0 |
| IRS990/DonorAdvisedFundInd | 0 | 0 |
| IRS990/DonorRstrOrQuasiEndowmentsInd | 0 | 0 |
| IRS990/ElectionOfBoardMembersInd | 0 | 0 |
| IRS990/EmployeeCnt | 0 | 0 |
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| IRS990/ExpenseAmt | 0 | 972580 |
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| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 12182 |
| IRS990/ForeignActivitiesInd | 0 | 0 |
| IRS990/ForeignFinancialAccountInd | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | 0 |
| IRS990/Form8282PropertyDisposedOfInd | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 0.50 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 0.25 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 2 | 0.25 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 3 | 0.25 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 4 | 0.25 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 5 | 0.25 |
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| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 3 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 4 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 5 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 0 | 0 |
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| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 2 | 0 |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | DOUG KELSO |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | MICHEAL BOOTH |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | DR MATHEW MCNABNEY |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | EVELYN WILLIAMS |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | RUTH ROYSTER |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | MEMBER |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | MEMBER |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 1964 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
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| IRS990/GrantsToOrganizationsInd | 0 | 0 |
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| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 1091 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 1091 |
| IRS990/IntangibleAssetsGrp/BOYAmt | 0 | 120387 |
| IRS990/IntangibleAssetsGrp/EOYAmt | 0 | 96309 |
| IRS990/InterestGrp/ProgramServicesAmt | 0 | 403664 |
| IRS990/InterestGrp/TotalAmt | 0 | 403664 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
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| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 8489456 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 9485120 |
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| IRS990/LobbyingActivitiesInd | 0 | 0 |
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| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
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| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | MEMORIAL APARTMENTS IS FOCUSED ON PROVIDING TENANT SERVICES AS WELL AS AFFORDABLE HOUSING FOR LOW-INCOME SENIOR TENANTS AND PROVIDES A CENTER FOR COMMUNITY ARTS, EDUCATION AND JOB-TRAINING |
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| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 5611143 |
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| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 3583185 |
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| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
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| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 5 | 37938 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | NOTE RECEIVABLE |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | INVESTMENT - EUTAW PLACE PARTNERS |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 2 | MAC LOAN RECEIVABLE |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 3 | DEFERRED DEVELOPER FEE RECEIVABLE |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 4 | DEFERRED RENT RECEIVABLE |
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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 225478 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 3 | 17300 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 4 | 73745 |
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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 4 | NOTES PAYABLE TRF CURRENT PORTION |
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| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | AS A NON-PROFIT CORPORATION, NO PROVISION OR BENEFIT FOR INCOME TAXES IS INCLUDED IN THESE FINANCIAL STATEMENTS SINCE THE ENTITY IS EXEMPT FROM FEDERAL INCOME TAXES, EXCEPT FOR TAX ON UNRELATED BUSINESS INCOME, UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE CORPORATION HAD NO UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2021. THE CORPORATION'S FEDERAL INFORMATION RETURNS FOR THE YEARS ENDED DECEMBER 31, 2021, 2020 AND 2019 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST |
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| IRS990/WebsiteAddressTxt | 0 | N/A |
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| ReturnHeader/BuildTS | 0 | 2025-03-06 01:10:19Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | 1 |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | ASHIAH PARKER |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | PRESIDENT |
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| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2025-09-25 |
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| ReturnHeader/Filer/BusinessNameControlTxt | 0 | MEMO |
| ReturnHeader/Filer/EIN | 0 | 526058564 |
| ReturnHeader/Filer/PhoneNum | 0 | 4145230013 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 301 MCMECHEN STREET |
| ReturnHeader/Filer/USAddress/CityNm | 0 | BALTIMORE |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | MD |
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| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | RUBINO AND COMPANY CHARTERED |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 6903 ROCKLEDGE DRIVE SUITE 300 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | BETHESDA |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | MD |
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| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 3015643636 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | ROBERT A KOZAK CPA |
| ReturnHeader/ReturnTs | 0 | 2025-09-25T17:55:50-05:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2024-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2024-12-31 |
| ReturnHeader/TaxYr | 0 | 2024 |
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