Metropolitan Property Management Inc
- Assets
- $166.6k
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 69
- Location
- Washington, NC
- Founding
- 12/2011
- Data as of
- 12/2022
- EIN
- 27-5170073
Organization Overview
Metropolitan Property Management Inc is located in Washington, NC. The organization was established in 2011. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Metropolitan Property Management Inc employed 69 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan Property Management 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, Metropolitan Property Management Inc generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $2.9m during the year ending 12/2022. While expenses have increased by 11.1% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO IMPROVE THE QUALITY OF LIFE FOR LOW TO MODERATE INCOME PERSONS BY PROVIDING SAFE, QUALITY HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES SUPERIOR MANAGEMENT SERVICES TO OWNERS OF MULTIFAMILY RENTAL HOUSING DEVELOPMENTS SERVING LOW TO MODERATE INCOME FAMILIES, ELDERLY AND/OR DISABLED PERSONS. THE ORGANIZATION FOCUS IS ON PROVIDING SAFE AND QUALITY HOUSING FOR RESIDENTS OF THE PROJECTS WHICH THE ORGANIZATION SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Moore Executive Di | Officer | 40 | $80,393 |
Eric Whitaker Board Chair | OfficerTrustee | 1 | $0 |
Garrick Witherspoon Vice Chair | OfficerTrustee | 1 | $0 |
Mildred Randolph Treasurer | OfficerTrustee | 1 | $0 |
Joyce O'neal Secretary | OfficerTrustee | 1 | $0 |
Solomon Ore Jr Director | Trustee | 0.75 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,794,460 |
| Investment income | $0 |
| 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 | $2,794,460 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $81,217 |
| 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. | $80,393 |
| Compensation of current officers, directors, key employees. | $12,059 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,171,043 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $61,002 |
| Payroll taxes | $172,236 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,390 |
| Fees for services: Accounting | $26,787 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,564 |
| Advertising and promotion | $3,875 |
| Office expenses | $79,826 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,776 |
| Travel | $20,881 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,836 |
| Interest | $2,915 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,473 |
| Insurance | $8,090 |
| All other expenses | $2,920 |
| Total functional expenses | $2,911,078 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,853 |
| Savings and temporary cash investments | $77,306 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $68,290 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,164 |
| Total assets | $166,613 |
| Accounts payable and accrued expenses | $34,806 |
| 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 | $25,268 |
| Unsecured mortgages and notes payable | $138,558 |
| Other liabilities | $550 |
| Total liabilities | $199,182 |
| Net assets without donor restrictions | -$32,569 |
| 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 | $166,613 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Big Canoe Property Owners Association Inc And Subsidiary Big Canoe, GA | $48,180,026 | $19,159,834 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |
Alexandria Housing Development Corporation Alexandria, VA | $129,711,642 | $8,689,601 |
Habitat For Humanity Of Greater Nashville Nashville, TN | $71,491,096 | $16,513,254 |
Virginia Supportive Housing Richmond, VA | $30,778,021 | $11,444,363 |
Habitat For Humanity International Inc Memphis, TN | $13,622,959 | $12,248,424 |
Our Lady Of Peace Inc Roanoke, VA | $13,777,109 | $11,564,075 |
Guardian Center Inc Ooltewah, TN | $1,527,267 | $10,632,560 |
Jerusalem House Inc Atlanta, GA | $4,358,598 | $7,877,090 |
Habitat For Humanity International Inc Newport News, VA | $9,861,358 | $8,052,076 |
American Opportunity Foundation Atlanta, GA | $34,585,201 | $5,667,158 |
Recovery Place Community Services Inc Savannah, GA | $2,985,458 | $7,587,530 |