Rebuild Metro Inc
- Assets
- $39.9m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 23
- Location
- Baltimore, MD
- Founding
- 03/1992
- Data as of
- 12/2022
- EIN
- 23-2671667
Organization Overview
Rebuild Metro Inc is located in Baltimore, MD. The organization was established in 1992. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Rebuild Metro Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rebuild Metro Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Rebuild Metro Inc generated $6.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $4.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
REBUILD METRO, INC. (RBMI) ASSEMBLES LAND, PARTICIPATES IN REAL ESTATE TRANSACTIONS AND BUILDS AFFORDABLE HOMES IN COMMUNITIES THROUGHOUT THE MID-ATLANTIC, CONCENTRATING IN AREAS WHERE IT CAN CREATE OPPORTUNITIES FOR WORKING FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARTICIPATES IN 1) REAL ESTATE TRANSACTIONS AND BUILDS AFFORDABLE HOMES TO CREATE OPPORTUNITY FOR DISADVANTAGED FAMILIES IN SUBURBAN LOCATIONS AND 2) COMMUNITY-LED REDEVELOPMENT OF DISTRESSED URBAN NEIGHBORHOODS. SUBURBAN INCOME-RESTRICTED HOUSING DEVELOPMENTS INCLUDE TWO PROJECTS UNDER DEVELOPMENT: A 60-UNIT APARTMENT BUILDING IN MAPLE SHADE, NJ, AND A 58-UNIT APARTMENT BUILDING IN SADDLE BROOK, NJ; AND 6 COMPLETED PROJECTS PROVIDING OVER 550 AFFORDABLE RENTAL UNITS FOR FAMILIES AND SENIORS IN NJ, DE, AND MD. REBUILD METRO'S REDEVELOPMENT OF DISTRESSED URBAN AREAS IS FOCUSED ON BALTIMORE, MD. CURRENTLY, REBUILD METRO IS ADVANCING THE REHABILITATION OF OVER 40 HISTORIC TOWNHOMES FOR SALE IN EAST BALTIMORE AND WORKING ON THE DEVELOPMENT OF 113 AFFORDABLE RENTAL UNITS. REBUILD ALSO DIRECTLY MANAGES 160 AFFORDABLE RENTAL UNITS AND IS THE CO-DEVELOPER AND MINORITY PARTNER OF 3 AFFORDABLE APARTMENT BUILDINGS WHICH SERVE 189 LOW-INCOME FAMILIES IN EAST BALTIMORE. AS PART OF ITS URBAN REDEVELOPMENT WORK, REBUILD METRO IS THE LED DEVELOPER FOR THE JOHNSTON SQUARE PLAN AND IT HAS SITE CONTROL OVER 550 VACANT PROPERTIES, WHICH ARE BEING REVITALIZED TO CREATE RESIDENTIAL DEVELOPMENT, PARKS, PLAYGROUNDS, AND OTHER COMMUNITY AMENITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Calvin Keene Chairman | OfficerTrustee | 2 | $0 |
Robert English Vice Chair | OfficerTrustee | 2 | $0 |
Dana Johnson Secretary | OfficerTrustee | 2 | $0 |
Tad Glenn Treasurer | OfficerTrustee | 2 | $0 |
Nancy Wagner-Hislip Board Member | Trustee | 2 | $0 |
Janet Harvey Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Axios Real Estate Llc Property Management | 12/30/22 | $162,627 |
Csb Llc Construction Sevrvices | 12/30/22 | $150,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,396,992 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,593,318 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,990,310 |
| Total Program Service Revenue | $1,445,567 |
| Investment income | $20,639 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,607,787 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $293,416 |
| Compensation of current officers, directors, key employees. | $35,210 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $899,587 |
| Pension plan accruals and contributions | $16,458 |
| Other employee benefits | $57,230 |
| Payroll taxes | $97,259 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69,111 |
| Fees for services: Accounting | $89,510 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $128,828 |
| Advertising and promotion | $22,343 |
| Office expenses | $471,359 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $200,938 |
| Travel | $33,172 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,679 |
| Interest | $574,550 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $435,543 |
| Insurance | $200,709 |
| All other expenses | -$178,655 |
| Total functional expenses | $4,823,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,108,279 |
| Savings and temporary cash investments | $4,000,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,466,021 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,820,192 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $234,247 |
| Net Land, buildings, and equipment | $7,317,542 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,111,767 |
| Intangible assets | $0 |
| Other assets | $2,884,493 |
| Total assets | $39,942,541 |
| Accounts payable and accrued expenses | $1,229,717 |
| Grants payable | $0 |
| Deferred revenue | $2,428,204 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $26,909,566 |
| Other liabilities | $629,410 |
| Total liabilities | $31,196,897 |
| Net assets without donor restrictions | $8,745,644 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $39,942,541 |