The Mon Valley Initiative
- Assets
- $22.7m
- Revenue
- $15.0m
- Investments
- $736.3k
- Employees
- 30
- Location
- Homestead, PA
- Founding
- 09/1989
- Data as of
- 12/2023
- EIN
- 25-1591350
Organization Overview
The Mon Valley Initiative is located in Homestead, PA. The organization was established in 1989. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Mon Valley Initiative employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mon Valley Initiative 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 12/2023, Mon Valley Initiative generated $15.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 37.4% each year . All expenses for the organization totaled $5.7m during the year ending 12/2023. While expenses have increased by 13.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Mon Valley Initiative has awarded 41 individual grants totaling $1,749,437. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MON VALLEY INITIATIVE IS A GRASS-ROOTS, REGIONAL COMMUNITY DEVELOPMENT CORPORATION, ORGANIZED TO CARRY OUT ITS MISSION OF MON VALLEY INITIATIVE STRENGTHENS THE MON VALLEY REGION BY RESPONSIBLY INVESTING IN OUR PEOPLE AND PLACES"
Describe the Organization's Program Activity:
Part 3 - Line 4a
REAL ESTATE: THE PURPOSE OF MVIS REAL ESTATE DEVELOPMENT PROGRAM IS TO HELP REBUILD THE FABRIC OF MVIS MEMBER COMMUNITIES, THEREBY STABILIZING BOTH THE BUILT ENVIRONMENT AND PROPERTY VALUES, MAINTAINING THE TAX BASE, AND PROMOTING A CULTURE OF PUBLIC SAFETY AND COMMUNITY CONFIDENCE. MVI PROVIDES DIRECT REAL ESTATE DEVELOPMENT SERVICES THROUGH EXISTING PROGRAMS INCLUDING REHAB FOR RESALE (ACQUISITION, RENOVATION AND RESALE OF EXISTING BLIGHTED AND VACANT PROPERTIES), NEW CONSTRUCTION HOUSING IN TARGETED AREAS, OWNER-OCCUPIED REHABS, RESIDENTIAL RENTAL DEVELOPMENT, THE DEVELOPMENT OF STRATEGIC COMMERCIAL SPACES IN TARGETED BUSINESS DISTRICTS, AND VARIOUS COMPLEMENTARY INITIATIVES IN COMMUNITY PLANNING, ZONING AND MARKETING OUTREACH. MVI AND ITS LOCALLY-BASED PARTNERS HAVE NOW COMPLETED CONSTRUCTION, REDEVELOPMENT OR FACILITATED THE TRANSFER OF 675 UNITS OF HOUSING, WITH 20 UNITS IN PREDEVELOPMENT.
HOUSING COUNSELING: THE MON VALLEY INITIATIVE NATIONAL INTERMEDIARY IS A HUD-APPROVED NATIONAL HOUSING COUNSELING INTERMEDIARY THAT PROVIDES ADMINISTRATIVE SERVICES, HOUSING COUNSELING FUNDING, AND PERFORMANCE MONITORING SERVICES TO A NATIONAL NETWORK OF SUB-GRANTEE AGENCIES. THE AGENCIES IN TURN PROVIDE ELIGIBLE HOUSING COUNSELING SERVICES TO PARTICIPANTS IN THEIR LOCAL AREAS. DURING THE 2023 HUD FISCAL YEAR, THE AGENCIES PROVIDED HOUSING COUNSELING TO 7,145 HOUSEHOLDS. MVIS HOUSING COUNSELING PROGRAM IS A SUB-GRANTEE AGENCY OF THE MON VALLEY INITIATIVE NATIONAL INTERMEDIARY. THE PURPOSE OF MVIS PRE-PURCHASE HOUSING COUNSELING PROGRAM IS TO EDUCATE AND ASSIST INDIVIDUALS AND FAMILIES, WITH LOW AND MODERATE INCOMES, IN THE PROCESS OF OBTAINING AN AFFORDABLE MORTGAGE TO FACILITATE THE PURCHASE OF A HOME. MVI PROVIDES CREDIT AND BUDGET ANALYSES, AND HUD- AND PHFA-APPROVED HOUSING COUNSELING ACTION PLANS TO BRING PARTICIPANTS TO MORTGAGE-READINESS. MVI ALSO COORDINATES SERVICES WITH SEVERAL OTHER HOUSING COUNSELING AGENCIES IN OUR AREA. DURING 2023, MVIS HOUSING COUNSELING PROGRAM PROVIDED ASSISTANCE TO 87 PARTICIPANTS THROUGH PRE-PURCHASE HOUSING COUNSELING. OF THOSE RECEIVING PRE-PURCHASE COUNSELING, 28 WENT ON TO BECOME HOMEOWNERS.
COMMUNITY DEVELOPMENT:THE COMMUNITY DEVELOPMENT AND OUTREACH EFFORTS UNDERTAKEN THROUGH THIS PROGRAM SUPPORT AND ENGAGE VOLUNTEERS, PARTNER ORGANIZATIONS, COMMUNITY RESIDENTS AND STAKEHOLDERS TO BUILD CONNECTIONS AND GATHER VITAL GUIDANCE AND FEEDBACK, ENSURING THE MVI REMAINS DEEPLY ENGAGED AT THE LOCAL LEVEL. THE PROGRAM STAFF PROVIDE GUIDANCE TO PARTNER ORGANIZATIONS, COORDINATE SPECIAL EVENTS, AND PROVIDE SUPPORT TO THE OTHER MVI PROGRAM AREAS. MVIS WORK WAS SUPPORTED BY A VOLUNTEER BASE OF APPROXIMATELY 135 INDIVIDUALS IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Zinski CEO | Officer | 40 | $112,000 |
April Hoover CFO | Officer | 40 | $83,646 |
Lindsey Coy Board Member | Trustee | 1 | $0 |
Jebediah Feldman Board Member | Trustee | 1 | $0 |
Mary Carol Kennedy Treasurer | OfficerTrustee | 2 | $0 |
Barata Bey Chairman | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hawkins Redevelopment Ii Llc Construction | 12/30/23 | $1,752,000 |
Hawkins Redevelopment I Llc Construction | 12/30/23 | $1,897,565 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $634,841 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,868,783 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,503,624 |
| Total Program Service Revenue | $2,831,921 |
| Investment income | $166,474 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $559,918 |
| Net Gain/Loss on Asset Sales | -$135,079 |
| Net Income from Fundraising Events | $13,115 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,993,148 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $401,570 |
| 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. | $195,646 |
| Compensation of current officers, directors, key employees. | $20,954 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $997,631 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,468 |
| Payroll taxes | $103,092 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $352,523 |
| Advertising and promotion | $0 |
| Office expenses | $96,259 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17,099 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $43,718 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $268,128 |
| Insurance | $123,892 |
| All other expenses | $72,352 |
| Total functional expenses | $5,660,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $514,982 |
| Savings and temporary cash investments | $5,977,806 |
| Pledges and grants receivable | $1,370,622 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $124,078 |
| Inventories for sale or use | $4,397 |
| Prepaid expenses and deferred charges | $14,140 |
| Net Land, buildings, and equipment | $8,725,108 |
| Investments—publicly traded securities | $5,155,047 |
| Investments—other securities | $736,301 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $103,601 |
| Total assets | $22,726,082 |
| Accounts payable and accrued expenses | $1,018,875 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $596,290 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $455,308 |
| Total liabilities | $2,070,473 |
| Net assets without donor restrictions | $9,282,407 |
| Net assets with donor restrictions | $11,373,202 |
| 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 | $22,726,082 |
Grants Awarded
Over the last fiscal year, The Mon Valley Initiative has awarded $303,784 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
CHANGE INC PURPOSE: HOUSING COUNSELING | $25,418 |
COMM PTNRS FOR AFFORD HOUSE PURPOSE: HOUSING COUNSELING | $30,000 |
COMMUNITY ACTION PSHIP OF MERCER PURPOSE: HOUSING COUNSELING | $5,572 |
HOMESIGHT PURPOSE: HOUSING COUNSELING | $67,505 |
FAIRMONT-MORGANTOWN HOUSING A PURPOSE: HOUSING COUNSELING | $15,790 |
HOUSING OPPORTUNITIES - FT WORTH PURPOSE: HOUSING COUNSELING | $59,548 |