Liabilities / Assets
91st percentile
Higher debt load relative to assets than 91% of similar nonprofits.
Multi Ethnic Development
990 • Fiscal year 2013 • EIN 94-2389209
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.91x
Liabilities / Revenue
100th percentile
Higher debt load relative to revenue than 100% of similar nonprofits.
Net Margin
1st percentile
Higher net margin than 1% of similar nonprofits.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
15th percentile
Faster asset growth than 15% of similar nonprofits.
Revenue Growth
1st percentile
Faster revenue growth than 1% of similar nonprofits.
Balance Sheet
Assets
Down$695,373
Down $85,562 (-11%) from 2012
Net Assets
Down$64,718
Down $75,409 (-54%) from 2012
Liabilities
Down$630,655
Down $10,153 (-1.6%) from 2012
Revenue And Expenses
Revenue
Down$17,933
Down $133,792 (-88%) from 2012
Expenses
Down$93,342
Down $98,420 (-51%) from 2012
Net Income
Down-$75,409
Down $35,372 (-88%) from 2012
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2012 to Jun 30, 2013
- Signed
- May 14, 2014
- Return Version
- 2012v2.3
- Gross Receipts
- $120,247
Mission and Program Overview
Mission
The organization is one of salt lake city's oldest nonprofit organizations involved in the development, ownership, and management of affordable housing. The mission of the organization is to serve the community by developing, owning, and managing clean, safe, affordable housing for low and moderate income populations.
Filing and Contact Details
Filer
- EIN
- 94-2389209
Raw XML Appendix363 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.
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|---|---|---|
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| IRS990/AccountsPayableAccruedExpenses/EOY | 0 | 20067 |
| IRS990/AccountsReceivable/BOY | 0 | 111845 |
| IRS990/AccountsReceivable/EOY | 0 | 5014 |
| IRS990/ActivitiesConductedPartnership | 0 | false |
| IRS990/ActivityOrMissionDescription | 0 | THE ORGANIZATION IS ONE OF SALT LAKE CITY'S OLDEST NONPROFIT ORGANIZATIONS INVOLVED IN THE DEVELOPMENT, OWNERSHIP, AND MANAGEMENT OF AFFORDABLE HOUSING. THE MISSION OF THE ORGANIZATION IS TO SERVE THE COMMUNITY BY DEVELOPING, OWNING, AND MANAGING CLEAN, SAFE, AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME POPULATIONS. |
| IRS990/AddressPrincipalOfficerUS/AddressLine1 | 0 | 925 SOUTH 200 WEST SUITE C |
| IRS990/AddressPrincipalOfficerUS/City | 0 | SALT LAKE CITY |
| IRS990/AddressPrincipalOfficerUS/State | 0 | UT |
| IRS990/AddressPrincipalOfficerUS/ZIPCode | 0 | 841013010 |
| IRS990/AnnualDisclosureCoveredPersons | 0 | true |
| IRS990/BenefitsPaidToMembersCY | 0 | 0 |
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| IRS990/CashNonInterestBearing/EOY | 0 | 148204 |
| IRS990/ChangesToOrganizingDocs | 0 | false |
| IRS990/CollectionsOfArt | 0 | false |
| IRS990/CompensationFromOtherSources | 0 | false |
| IRS990/CompensationProcessCEO | 0 | true |
| IRS990/CompensationProcessOther | 0 | true |
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| IRS990/ConservationEasements | 0 | false |
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| IRS990/ContributionsGrantsPriorYear | 0 | 11243 |
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| IRS990/DepreciationDepletion/Total | 0 | 1727 |
| IRS990/DescribedIn501C3 | 0 | true |
| IRS990/Description | 0 | FISCAL 2012/13 CONTINUED TO BE A CHALLENGING YEAR FOR MULTI-ETHNIC DEVELOPMENT CORPORATION (MEDC) AS MANAGEMENT AND BOARD STRUGGLED TO FIND A VIABLE ALTERNATIVE FOR THE GENERAL PARTNERSHIP(S), FOR BEAR RIVER VALLEY APARTMENTS, MOUNTAIN SHADOW APARTMENTS, RIVERVIEW SENIOR APARTMENTS, SECOND WEST APARTMENTS, AND STONERIDGE I & II. A DEVELOPMENT TEAM WAS PUT IN PLACE TO BRING THE BLANDING PROJECT TO FRUITION. BY THE END OF THE FISCAL YEAR, THE GRAYSON APARTMENT PROJECT WAS IN FACT PLACED WITH COLOR COUNTRY COMMUNITY HOUSING, INC., OUT OF ST. GEORGE, UTAH. AS A RESULT OF THIS TRANSFER, MULTI-ETHNIC DEVELOPMENT CORPORATION RECEIVES REIMBURSEMENT OF ARCHITECTURAL FEES AND PREDEVELOPMENT INFRASTRUCTURE COSTS IN THE AMOUNT OF 59,765. WHILE MEDCS HOPE FOR A COMPLETE TRANSFER OF ITS ASSETS BY THE END OF FY 2013 IT TURNED OUT NOT TO BE POSSIBLE, DUE TO CONFLICTING REGULATORY ENVIRONMENTS AND DIFFERENCES IN DUE DILIGENCE APPROVAL PROCESSES BETWEEN ITS MANY FUNDING SOURCES, IT WAS DECIDED DISSOLUTION WAS THE MOST REASONABLE SOLUTION FOR MEDC. DURING THE LAST TWELVE MONTHS, NEIGHBORHOOD NONPROFIT HOUSING CORPORATION (NNHC), AND THE ROAD HOME BECAME STRONG VIABLE NON-PROFIT AND MANAGERS. NEIGHBORHOOD NONPROFIT HOUSING CORPORATION, LOGAN, UTAH IS SLATED TO RECEIVE: BEAR RIVER SENIOR APARTMENTS,48 UNITS IN TREMONTON, UTAH; MOUNTAIN SHADOW APARTMENTS, 24 AFFORDABLE UNITS OF HOUSING IN NEPHI, UTAH; RIVERVIEW SENIOR APARTMENTS, 18 AFFORDABLE UNITS OF HOUSING, IN ROOSEVELT, UTAH (PLEASE NOTE: RIVERVIEW SENIOR APARTMENTS HAS OBTAINED A PROPERTY TAX EXEMPTION IN 2010); AND STONERIDGE I & II APARTMENTS, 48 AFFORDABLE UNITS, ROOSEVELT, UTAH. THE ROAD HOME, SALT LAKE CITY, UTAH IS SLATED TO RECEIVE: SECOND WEST APARTMENTS, 25 UNITS, SALT LAKE CITY, UTAH. IN ADDITION, MEDC CONTINUES TO OPERATE THROUGH BOARD INVOLVEMENT AND A PAID CONSULTANT. MEDC'S AIM IN 2013/14 IS TO DILIGENTLY CONTINUE WORK ON THE SUCCESSFUL TRANSFER OF ITS REMAINING PROPERTY PORTFOLIO. |
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| IRS990/DocumentRetentionPolicy | 0 | true |
| IRS990/DonorAdvisedFunds | 0 | false |
| IRS990/ElectionOfBoardMembers | 0 | false |
| IRS990/ExcessBenefitTransaction | 0 | false |
| IRS990/Expense | 0 | 17942 |
| IRS990/FamilyOrBusinessRelationship | 0 | false |
| IRS990/FederalGrantAuditRequired | 0 | false |
| IRS990/FeesForServicesAccounting/ManagementAndGeneral | 0 | 925 |
| IRS990/FeesForServicesAccounting/Total | 0 | 925 |
| IRS990/FeesForServicesLegal/ManagementAndGeneral | 0 | 3193 |
| IRS990/FeesForServicesLegal/Total | 0 | 3193 |
| IRS990/FeesForServicesManagement/ManagementAndGeneral | 0 | 30020 |
| IRS990/FeesForServicesManagement/Total | 0 | 30020 |
| IRS990/FeesForServicesOther/ManagementAndGeneral | 0 | 33988 |
| IRS990/FeesForServicesOther/Total | 0 | 33988 |
| IRS990/FollowSFAS117 | 0 | X |
| IRS990/ForeignActivities | 0 | false |
| IRS990/ForeignFinancialAccount | 0 | false |
| IRS990/ForeignOffice | 0 | false |
| IRS990/Form990PartVIISectionA/AverageHoursPerWeek | 0 | 1.00 |
| IRS990/Form990PartVIISectionA/AverageHoursPerWeek | 1 | 1.00 |
| IRS990/Form990PartVIISectionA/AverageHoursPerWeek | 2 | 1.00 |
| IRS990/Form990PartVIISectionA/AverageHoursPerWeek | 3 | 1.00 |
| IRS990/Form990PartVIISectionA/AverageHoursPerWeek | 4 | 1.00 |
| IRS990/Form990PartVIISectionA/AverageHoursPerWeek | 5 | 1.00 |
| IRS990/Form990PartVIISectionA/AverageHoursPerWeek | 6 | 5.00 |
| IRS990/Form990PartVIISectionA/IndividualTrusteeOrDirector | 0 | X |
| IRS990/Form990PartVIISectionA/IndividualTrusteeOrDirector | 1 | X |
| IRS990/Form990PartVIISectionA/IndividualTrusteeOrDirector | 2 | X |
| IRS990/Form990PartVIISectionA/IndividualTrusteeOrDirector | 3 | X |
| IRS990/Form990PartVIISectionA/IndividualTrusteeOrDirector | 4 | X |
| IRS990/Form990PartVIISectionA/IndividualTrusteeOrDirector | 5 | X |
| IRS990/Form990PartVIISectionA/NamePerson | 0 | MARCI MILLIGAN |
| IRS990/Form990PartVIISectionA/NamePerson | 1 | PAULA MARSH |
| IRS990/Form990PartVIISectionA/NamePerson | 2 | PAULA CARL |
| IRS990/Form990PartVIISectionA/NamePerson | 3 | SHELLIE BARRUS |
| IRS990/Form990PartVIISectionA/NamePerson | 4 | NATHAN JOHNSON |
| IRS990/Form990PartVIISectionA/NamePerson | 5 | SHAWN TEIGEN |
| IRS990/Form990PartVIISectionA/NamePerson | 6 | TROY HART |
| IRS990/Form990PartVIISectionA/Officer | 0 | X |
| IRS990/Form990PartVIISectionA/OtherCompensation | 0 | 0 |
| IRS990/Form990PartVIISectionA/OtherCompensation | 1 | 0 |
| IRS990/Form990PartVIISectionA/OtherCompensation | 2 | 0 |
| IRS990/Form990PartVIISectionA/OtherCompensation | 3 | 0 |
| IRS990/Form990PartVIISectionA/OtherCompensation | 4 | 0 |
| IRS990/Form990PartVIISectionA/OtherCompensation | 5 | 0 |
| IRS990/Form990PartVIISectionA/OtherCompensation | 6 | 0 |
| IRS990/Form990PartVIISectionA/ReportableCompFromOrganization | 0 | 0 |
| IRS990/Form990PartVIISectionA/ReportableCompFromOrganization | 1 | 0 |
| IRS990/Form990PartVIISectionA/ReportableCompFromOrganization | 2 | 0 |
| IRS990/Form990PartVIISectionA/ReportableCompFromOrganization | 3 | 0 |
| IRS990/Form990PartVIISectionA/ReportableCompFromOrganization | 4 | 0 |
| IRS990/Form990PartVIISectionA/ReportableCompFromOrganization | 5 | 0 |
| IRS990/Form990PartVIISectionA/ReportableCompFromOrganization | 6 | 20598 |
| IRS990/Form990PartVIISectionA/ReportableCompFromRelatedOrgs | 0 | 0 |
| IRS990/Form990PartVIISectionA/ReportableCompFromRelatedOrgs | 1 | 0 |
| IRS990/Form990PartVIISectionA/ReportableCompFromRelatedOrgs | 2 | 0 |
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| IRS990/Form990PartVIISectionA/ReportableCompFromRelatedOrgs | 4 | 0 |
| IRS990/Form990PartVIISectionA/ReportableCompFromRelatedOrgs | 5 | 0 |
| IRS990/Form990PartVIISectionA/ReportableCompFromRelatedOrgs | 6 | 0 |
| IRS990/Form990PartVIISectionA/Title | 0 | PRESIDENT |
| IRS990/Form990PartVIISectionA/Title | 1 | TREASURER |
| IRS990/Form990PartVIISectionA/Title | 2 | SECRETARY |
| IRS990/Form990PartVIISectionA/Title | 3 | BOARD MEMBER |
| IRS990/Form990PartVIISectionA/Title | 4 | BOARD MEMBER |
| IRS990/Form990PartVIISectionA/Title | 5 | BOARD MEMBER |
| IRS990/Form990PartVIISectionA/Title | 6 | INTERIM EXEC |
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| IRS990/FormersListed | 0 | false |
| IRS990/FSAudited | 0 | false |
| IRS990/FundraisingActivities | 0 | false |
| IRS990/Gaming | 0 | false |
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| IRS990/GrantsAndSimilarAmntsCY | 0 | 0 |
| IRS990/GrantsAndSimilarAmntsPriorYear | 0 | 106358 |
| IRS990/GrantsToIndividuals | 0 | false |
| IRS990/GrantsToOrganizations | 0 | false |
| IRS990/GrantToRelatedPerson | 0 | false |
| IRS990/GrossReceipts | 0 | 120247 |
| IRS990/GrossRents/Real | 0 | 110160 |
| IRS990/GroupReturnForAffiliates | 0 | false |
| IRS990/Hospital | 0 | false |
| IRS990/IndependentAuditFinancialStmt | 0 | false |
| IRS990/IndoorTanningServices | 0 | false |
| IRS990/InfoInScheduleOPartIII | 0 | X |
| IRS990/InfoInScheduleOPartIX | 0 | X |
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| IRS990/Insurance/Total | 0 | 1633 |
| IRS990/InvestmentIncomeCurrentYear | 0 | 0 |
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| IRS990/InvestmentInJointVenture | 0 | false |
| IRS990/LandBldgEquipmentAccumDeprec | 0 | 157109 |
| IRS990/LandBuildingsEquipmentBasis | 0 | 673469 |
| IRS990/LandBuildingsEquipmentBasisNet/BOY | 0 | 539786 |
| IRS990/LandBuildingsEquipmentBasisNet/EOY | 0 | 516360 |
| IRS990/LessRentalExpenses/Real | 0 | 102314 |
| IRS990/LoanToOfficerOrDQP | 0 | false |
| IRS990/LobbyingActivities | 0 | false |
| IRS990/LocalChapters | 0 | false |
| IRS990/MaterialDiversionOrMisuse | 0 | false |
| IRS990/MembersOrStockholders | 0 | false |
| IRS990/MethodOfAccountingAccrual | 0 | X |
| IRS990/MinutesOfCommittees | 0 | true |
| IRS990/MinutesOfGoverningBody | 0 | true |
| IRS990/MissionDescription | 0 | THE ORGANIZATION IS ONE OF SALT LAKE CITY'S OLDEST NONPROFIT ORGANIZATIONS INVOLVED IN THE DEVELOPMENT, OWNERSHIP, AND MANAGEMENT OF AFFORDABLE HOUSING. THE MISSION OF THE ORGANIZATION IS TO SERVE THE COMMUNITY BY DEVELOPING, OWNING, AND MANAGING CLEAN, SAFE, AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME POPULATIONS. |
| IRS990/MoreThan5000KToIndividuals | 0 | false |
| IRS990/MoreThan5000KToOrganizations | 0 | false |
| IRS990/MortNotesPyblSecuredInvestProp/BOY | 0 | 625276 |
| IRS990/MortNotesPyblSecuredInvestProp/EOY | 0 | 606678 |
| IRS990/NameOfPrincipalOfficerPerson | 0 | MARCI MILLIGAN |
| IRS990/NbrIndependentVotingMembers | 0 | 6 |
| IRS990/NbrVotingGoverningBodyMembers | 0 | 6 |
| IRS990/NbrVotingMembersGoverningBody | 0 | 6 |
| IRS990/NetAssetsOrFundBalancesBOY | 0 | 140127 |
| IRS990/NetAssetsOrFundBalancesEOY | 0 | 64718 |
| IRS990/NetRentalIncomeOrLoss/RelatedOrExemptFunctionIncome | 0 | 7846 |
| IRS990/NetRentalIncomeOrLoss/TotalRevenueColumn | 0 | 7846 |
| IRS990/NonDeductibleContributions | 0 | false |
| IRS990/NumberFormsTransmittedWith1096 | 0 | 2 |
| IRS990/NumberIndependentVotingMembers | 0 | 6 |
| IRS990/NumberOfEmployees | 0 | 0 |
| IRS990/NumberW2GIncluded | 0 | 0 |
| IRS990/Occupancy/Fundraising | 0 | 150 |
| IRS990/Occupancy/ManagementAndGeneral | 0 | 2850 |
| IRS990/Occupancy/Total | 0 | 3000 |
| IRS990/OfficeExpenses/ManagementAndGeneral | 0 | 914 |
| IRS990/OfficeExpenses/Total | 0 | 914 |
| IRS990/OfficerEntityWithBsnssRltnshp | 0 | false |
| IRS990/OfficerMailingAddress | 0 | false |
| IRS990/Organization501c3 | 0 | X |
| IRS990/OtherAssetsTotal/BOY | 0 | 25131 |
| IRS990/OtherAssetsTotal/EOY | 0 | 25131 |
| IRS990/OtherExpensePriorYear | 0 | 85404 |
| IRS990/OtherExpensesCurrentYear | 0 | 93342 |
| IRS990/OtherExpenses/Description | 0 | DEVELOPMENT COSTS |
| IRS990/OtherExpenses/ProgramServices | 0 | 17942 |
| IRS990/OtherExpenses/Total | 0 | 17942 |
| IRS990/OtherLiabilities/BOY | 0 | 3910 |
| IRS990/OtherLiabilities/EOY | 0 | 3910 |
| IRS990/OtherRevenueCurrentYear | 0 | 7846 |
| IRS990/OtherRevenuePriorYear | 0 | 14345 |
| IRS990/OtherWebsite | 0 | X |
| IRS990/PartialLiquidation | 0 | false |
| IRS990/PoliticalActivities | 0 | false |
| IRS990/PrepaidExpensesDeferredCharges/BOY | 0 | 395 |
| IRS990/PrepaidExpensesDeferredCharges/EOY | 0 | 664 |
| IRS990/PriorExcessBenefitTransaction | 0 | false |
| IRS990/ProfessionalFundraising | 0 | false |
| IRS990/ProgramServiceRevenueCY | 0 | 0 |
| IRS990/ProgramServiceRevenuePriorYear | 0 | 90619 |
| IRS990/ProhibitedTaxShelterTrans | 0 | false |
| IRS990/ReconcilationRevenueExpenses | 0 | -75409 |
| IRS990/RegularMonitoringEnforcement | 0 | true |
| IRS990/RelatedEntity | 0 | false |
| IRS990/RelatedOrgControlledEntity | 0 | false |
| IRS990/RentalIncomeOrLoss/Real | 0 | 7846 |
| IRS990/ReportFin48Footnote | 0 | false |
| IRS990/ReportInvestOthSecurities | 0 | false |
| IRS990/ReportLandBldgEquip | 0 | true |
| IRS990/ReportOtherAssets | 0 | false |
| IRS990/ReportOtherLiabilities | 0 | true |
| IRS990/ReportProgRelInvest | 0 | false |
| IRS990/RevenuesLessExpensesCY | 0 | -75409 |
| IRS990/RevenuesLessExpensesPriorYear | 0 | -40037 |
| IRS990/SalariesEtcCurrentYear | 0 | 0 |
| IRS990ScheduleA/GiftsGrantsContribReceived170/CurrentTaxYear | 0 | 10087 |
| IRS990ScheduleA/GiftsGrantsContribReceived170/CurrentTaxYearMinus1Year | 0 | 11243 |
| IRS990ScheduleA/GiftsGrantsContribReceived170/CurrentTaxYearMinus2Years | 0 | 25957 |
| IRS990ScheduleA/GiftsGrantsContribReceived170/CurrentTaxYearMinus3Years | 0 | 53957 |
| IRS990ScheduleA/GiftsGrantsContribReceived170/CurrentTaxYearMinus4Years | 0 | 196690 |
| IRS990ScheduleA/GiftsGrantsContribReceived170/Total | 0 | 297934 |
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| IRS990ScheduleA/GrossInvestmentIncome170/CurrentTaxYearMinus4Years | 0 | 308885 |
| IRS990ScheduleA/GrossInvestmentIncome170/Total | 0 | 1186520 |
| IRS990ScheduleA/GrossReceiptsFromAdmissionsEtc | 0 | 406315 |
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| IRS990ScheduleA/OtherIncome170/CurrentTaxYearMinus3Years | 0 | 8381 |
| IRS990ScheduleA/OtherIncome170/CurrentTaxYearMinus4Years | 0 | 22106 |
| IRS990ScheduleA/OtherIncome170/Total | 0 | 30982 |
| IRS990ScheduleA/PrivateFoundation170 | 0 | X |
| IRS990ScheduleA/PubliclySupportedOrg170b1Avi | 0 | X |
| IRS990ScheduleA/PublicSupportPertcentage170 | 0 | 0.19660 |
| IRS990ScheduleA/PublicSupportPertcentPriorYear | 0 | 0.21630 |
| IRS990ScheduleA/PublicSupportTotal170 | 0 | 297934 |
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| IRS990ScheduleA/Total170/CurrentTaxYearMinus3Years | 0 | 53957 |
| IRS990ScheduleA/Total170/CurrentTaxYearMinus4Years | 0 | 196690 |
| IRS990ScheduleA/Total170/Total | 0 | 297934 |
| IRS990ScheduleA/TotalSupport | 0 | 1515436 |
| IRS990ScheduleB/ContributorInfo/AggregateContributions | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInfo/ContributorAddressUS/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInfo/ContributorAddressUS/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInfo/ContributorAddressUS/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInfo/ContributorAddressUS/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInfo/ContributorAddressUS/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInfo/ContributorNameBusiness/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInfo/ContributorNumber | 0 | RESTRICTED |
| IRS990/ScheduleBRequired | 0 | true |
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| IRS990ScheduleD/Buildings/Depreciation | 0 | 130194 |
| IRS990ScheduleD/Buildings/OtherCostOrOtherBasis | 0 | 613979 |
| IRS990ScheduleD/Equipment/BookValue | 0 | -13611 |
| IRS990ScheduleD/Equipment/Depreciation | 0 | 26915 |
| IRS990ScheduleD/Equipment/OtherCostOrOtherBasis | 0 | 13304 |
| IRS990ScheduleD/Land/BookValue | 0 | 46186 |
| IRS990ScheduleD/Land/OtherCostOrOtherBasis | 0 | 46186 |
| IRS990ScheduleD/OtherLiabilities/Amount | 0 | 3910 |
| IRS990ScheduleD/OtherLiabilities/Description | 0 | TENANT SECURITY DEPOSITS |
| IRS990ScheduleD/TotalOfAmounts | 0 | 3910 |
| IRS990ScheduleD/TotalOfBookValueLandBuildings | 0 | 516360 |
| IRS990/ScheduleJRequired | 0 | false |
| IRS990ScheduleO/GeneralExplanation/Explanation | 0 | THE ORGANIZATION IS ONE OF SALT LAKE CITY'S OLDEST NONPROFIT ORGANIZATIONS INVOLVED IN THE DEVELOPMENT, OWNERSHIP, AND MANAGEMENT OF AFFORDABLE HOUSING. THE MISSION OF THE ORGANIZATION IS TO SERVE THE COMMUNITY BY DEVELOPING, OWNING, AND MANAGING CLEAN, SAFE, AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME POPULATIONS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 1 | INFRASTRUCTURE COSTS IN THE AMOUNT OF 59,765. WHILE MEDCS HOPE FOR A COMPLETE TRANSFER OF ITS ASSETS BY THE END OF FY 2013 IT TURNED OUT NOT TO BE POSSIBLE, DUE TO CONFLICTING REGULATORY ENVIRONMENTS AND DIFFERENCES IN DUE DILIGENCE APPROVAL PROCESSES BETWEEN ITS MANY FUNDING SOURCES, IT WAS DECIDED DISSOLUTION WAS THE MOST REASONABLE SOLUTION FOR MEDC. DURING THE LAST TWELVE MONTHS, NEIGHBORHOOD NONPROFIT HOUSING CORPORATION (NNHC), AND THE ROAD HOME BECAME STRONG VIABLE NON-PROFIT AND MANAGERS. NEIGHBORHOOD NONPROFIT HOUSING CORPORATION, LOGAN, UTAH IS SLATED TO RECEIVE: BEAR RIVER SENIOR APARTMENTS,48 UNITS IN TREMONTON, UTAH; MOUNTAIN SHADOW APARTMENTS, 24 AFFORDABLE UNITS OF HOUSING IN NEPHI, UTAH; RIVERVIEW SENIOR APARTMENTS, 18 AFFORDABLE UNITS OF HOUSING, IN ROOSEVELT, UTAH (PLEASE NOTE: RIVERVIEW SENIOR APARTMENTS HAS OBTAINED A PROPERTY TAX EXEMPTION IN 2010); AND STONERIDGE I & II APARTMENTS, 48 AFFORDABLE UNITS, ROOSEVELT, UTAH. THE ROAD HOME, SALT LAKE CITY, UTAH IS SLATED TO RECEIVE: SECOND WEST APARTMENTS, 25 UNITS, SALT LAKE CITY, UTAH. IN ADDITION, MEDC CONTINUES TO OPERATE THROUGH BOARD INVOLVEMENT AND A PAID CONSULTANT. MEDC'S AIM IN 2013/14 IS TO DILIGENTLY CONTINUE WORK ON THE SUCCESSFUL TRANSFER OF ITS REMAINING PROPERTY PORTFOLIO. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 2 | A DRAFT OF THE 990 IS PROVIDED TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO FILING. THE BOARD FORMALLY REVIEWS THE 990 DURING A BOARD MEETING AND VOTES TO APPROVE THE DOCUMENT. IN ADDITION, THE EXECUTIVE DIRECTOR AND BOARD PRESIDENT PROVIDE SIGNATURE APPROVAL FOR THE DOCUMENT. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 3 | THE EXECUTIVE DIRECTOR, BOARD OF DIRECTORS, AND KEY MANAGEMENT ARE REQUIRED TO DISCLOSE CONFLICTS OR POTENTIAL CONFLICTS OF INTEREST ANNUALLY. IN ADDITION, THE ORGANIZATION'S POLICY IS THAT ANY DIRECTOR OR OFFICER WITH KNOWLEDGE OR AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST ON THE PART OF THAT DIRECTOR OR OFFICER OR ANY OTHER DIRECTOR OR OFFICER OF THE ORGANIZATION IS REQUIRED TO INFORM THE ENTIRE BOARD OF THE CONFLICT. THE BOARD AS A WHOLE WILL THE OBTAIN APPROPRIATE DISCLOSURE AND AN UNDERSTANDING OF ALL MATERIAL FACTS. THE BOARD AS A WHOLE (WITH THE EXCLUSION OF ANY INTERESTED PERSONS) WILL DETERMINE WHETHER AN ACTUAL CONFLICT EXISTS. IF THE BOARD DETERMINES THAT A CONFLICT EXISTS, THE BOARD SHALL INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. SPECIFIC ACTIONS WILL BE DETERMINED ON A CASE BY CASE BASIS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 4 | COMPENSATION FOR THE EXECUTIVE DIRECTOR IS DETERMINED BY THE BOARD OF DIRECTORS, WHICH IS INDEPENDENT FROM THE EXECUTIVE DIRECTOR. MARKET COMPARABILITY DATA FROM SIMILAR POSITIONS AT SIMILAR NON-PROFIT ORGANIZATIONS IN THE REGION IS USED TO DETERMINE A REASONABLE SALARY. DELIBERATION AND DETERMINATION OF COMPENSATION IS DOCUMENTED. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 5 | COMPENSATION FOR ALL OTHER EMPLOYEES IS DETERMINED BY THE BOARD OF DIRECTORS, WHICH IS INDEPENDENT. MARKET COMPARABILITY DATA FROM SIMILAR POSITIONS AT SIMILAR NON-PROFIT ORGANIZATIONS IN THE REGION IS USED TO DETERMINE A REASONABLE SALARY. DELIBERATION AND DETERMINATION OF COMPENSATION IS DOCUMENTED. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 6 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE ORGANZATION'S OFFICS DURING REGULAR BUSINESS HOURS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 7 | PROFESSIONAL FEES 0 33,988 0 |
| IRS990ScheduleO/GeneralExplanation/Identifier | 0 | ORGANIZATION'S MISSION |
| IRS990ScheduleO/GeneralExplanation/Identifier | 1 | FIRST ACCOMPLISHMENT DESCRIPTION |
| IRS990ScheduleO/GeneralExplanation/Identifier | 2 | ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 |
| IRS990ScheduleO/GeneralExplanation/Identifier | 3 | ENFORCEMENT OF CONFLICTS POLICY |
| IRS990ScheduleO/GeneralExplanation/Identifier | 4 | COMPENSATION PROCESS FOR TOP OFFICIAL |
| IRS990ScheduleO/GeneralExplanation/Identifier | 5 | COMPENSATION PROCESS FOR OFFICERS |
| IRS990ScheduleO/GeneralExplanation/Identifier | 6 | GOVERNING DOCUMENTS DISCLOSURE EXPLANATION |
| IRS990ScheduleO/GeneralExplanation/Identifier | 7 | OTHER FEES FOR SERVICES |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 0 | FORM 990 - ORGANIZATION'S MISSION |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 1 | FORM 990, PAGE 2, PART III, LINE 4A |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 2 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 3 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 4 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 5 | FORM 990, PAGE 6, PART VI, LINE 15B |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 6 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 7 | FORM 990, PART IX, LINE 11G |
| IRS990/ScheduleORequired | 0 | true |
| IRS990/School | 0 | false |
| IRS990/SignificantChange | 0 | false |
| IRS990/SignificantNewProgramServices | 0 | false |
| IRS990/StateLegalDomicile | 0 | UT |
| IRS990/StatesWhereCopyOfReturnIsFiled | 0 | UT |
| IRS990/SubjectToProxyTax | 0 | false |
| IRS990/TaxablePartyNotification | 0 | false |
| IRS990/TaxExemptBonds | 0 | false |
| IRS990/Terminated | 0 | false |
| IRS990/TermOrPermanentEndowments | 0 | false |
| IRS990/TheBooksAreInCareOf/AddressUS/AddressLine1 | 0 | 925 SOUTH 200 WEST SUITE C |
| IRS990/TheBooksAreInCareOf/AddressUS/City | 0 | SALT LAKE CITY |
| IRS990/TheBooksAreInCareOf/AddressUS/State | 0 | UT |
| IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode | 0 | 841013010 |
| IRS990/TheBooksAreInCareOf/NamePerson | 0 | VAL SHAFFER |
| IRS990/TheBooksAreInCareOf/TelephoneNumber | 0 | 8015212991 |
| IRS990/TotalAssets/BOY | 0 | 780935 |
| IRS990/TotalAssetsBOY | 0 | 780935 |
| IRS990/TotalAssets/EOY | 0 | 695373 |
| IRS990/TotalAssetsEOY | 0 | 695373 |
| IRS990/TotalCompGT150K | 0 | false |
| IRS990/TotalContributions | 0 | 10087 |
| IRS990/TotalExpensesCurrentYear | 0 | 93342 |
| IRS990/TotalExpensesPriorYear | 0 | 191762 |
| IRS990/TotalFunctionalExpenses/Fundraising | 0 | 150 |
| IRS990/TotalFunctionalExpenses/ManagementAndGeneral | 0 | 75250 |
| IRS990/TotalFunctionalExpenses/ProgramServices | 0 | 17942 |
| IRS990/TotalFunctionalExpenses/Total | 0 | 93342 |
| IRS990/TotalFundrsngExpCurrentYear | 0 | 150 |
| IRS990/TotalGrossUBI | 0 | 0 |
| IRS990/TotalLiabilities/BOY | 0 | 640808 |
| IRS990/TotalLiabilitiesBOY | 0 | 640808 |
| IRS990/TotalLiabilities/EOY | 0 | 630655 |
| IRS990/TotalLiabilitiesEOY | 0 | 630655 |
| IRS990/TotalLiabNetAssetsFundBalances/BOY | 0 | 780935 |
| IRS990/TotalLiabNetAssetsFundBalances/EOY | 0 | 695373 |
| IRS990/TotalNbrEmployees | 0 | 0 |
| IRS990/TotalNetAssetsFundBalances/BOY | 0 | 140127 |
| IRS990/TotalNetAssetsFundBalances/EOY | 0 | 64718 |
| IRS990/TotalProfFundrsngExpCY | 0 | 0 |
| IRS990/TotalProgramServiceExpense | 0 | 17942 |
| IRS990/TotalReportableCompFromOrg | 0 | 20598 |
| IRS990/TotalRevenueCurrentYear | 0 | 17933 |
| IRS990/TotalRevenuePriorYear | 0 | 151725 |
| IRS990/TotalRevenue/RelatedOrExemptFunctionIncome | 0 | 7846 |
| IRS990/TotalRevenue/TotalRevenueColumn | 0 | 17933 |
| IRS990/TransfersToExemptNonChrtblOrg | 0 | false |
| IRS990/TypeOfOrganizationCorporation | 0 | X |
| IRS990/UnrelatedBusinessIncome | 0 | false |
| IRS990/UnrestrictedNetAssets/BOY | 0 | 140127 |
| IRS990/UnrestrictedNetAssets/EOY | 0 | 64718 |
| IRS990/UponRequest | 0 | X |
| IRS990/WebSite | 0 | HTTP://WWW.MEDC-UTAH.ORG/ |
| IRS990/WhistleblowerPolicy | 0 | false |
| IRS990/YearFormation | 0 | 1975 |
| ReturnHeader/BuildTS | 0 | 2015-11-30 17:44:51Z |
| ReturnHeader/Filer/EIN | 0 | 942389209 |
| ReturnHeader/Filer/Name/BusinessNameLine1 | 0 | MULTI-ETHNIC DEVELOPMENT |
| ReturnHeader/Filer/NameControl | 0 | MULT |
| ReturnHeader/Filer/Phone | 0 | 8015212991 |
| ReturnHeader/Filer/USAddress/AddressLine1 | 0 | 925 SOUTH 200 WEST SUITE C |
| ReturnHeader/Filer/USAddress/City | 0 | SALT LAKE CITY |
| ReturnHeader/Filer/USAddress/State | 0 | UT |
| ReturnHeader/Filer/USAddress/ZIPCode | 0 | 841013010 |
| ReturnHeader/Officer/AuthorizeThirdParty | 0 | true |
| ReturnHeader/Officer/DateSigned | 0 | 2014-05-14 |
| ReturnHeader/Officer/Name | 0 | TROY HART |
| ReturnHeader/Officer/Phone | 0 | 8015212991 |
| ReturnHeader/Officer/Title | 0 | INTERIM EXECUTIVE DIRECTOR |
| ReturnHeader/Preparer/DatePrepared | 0 | 2014-05-14 |
| ReturnHeader/PreparerFirm/PreparerFirmBusinessName/BusinessNameLine1 | 0 | SHAW & CO PC |
| ReturnHeader/PreparerFirm/PreparerFirmUSAddress/AddressLine1 | 0 | 1564 SOUTH 500 WEST SUITE 201 |
| ReturnHeader/PreparerFirm/PreparerFirmUSAddress/City | 0 | BOUNTIFUL |
| ReturnHeader/PreparerFirm/PreparerFirmUSAddress/State | 0 | UT |
| ReturnHeader/PreparerFirm/PreparerFirmUSAddress/ZIPCode | 0 | 840107400 |
| ReturnHeader/Preparer/Name | 0 | JUSTIN R SHAW CPA CFE |
| ReturnHeader/Preparer/Phone | 0 | 8012943155 |
| ReturnHeader/ReturnType | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDate | 0 | 2012-07-01 |
| ReturnHeader/TaxPeriodEndDate | 0 | 2013-06-30 |
| ReturnHeader/TaxYear | 0 | 2012 |
| ReturnHeader/Timestamp | 0 | 2014-05-14T20:11:14-05:00 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2013 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $695,373
- Liabilities
- $630,655
- Net assets
- $64,718
- Revenue
- $17,933
- Expenses
- $93,342
- Net income
- -$75,409