Mht Housing Inc
- Assets
- $152.8m
- Revenue
- $61.3m
- Investments
- $0.0
- Employees
- 33
- Location
- Bingham Farms, MI
- Founding
- 06/1991
- Data as of
- 03/2023
- EIN
- 38-2957148
Organization Overview
Mht Housing Inc is located in Bingham Farms, MI. The organization was established in 1991. 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 03/2023, Mht Housing Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mht Housing 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 03/2023, Mht Housing Inc generated $61.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 34.6% each year . All expenses for the organization totaled $11.2m during the year ending 03/2023. While expenses have increased by 18.3% 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.
Since 2020, Mht Housing Inc has awarded 27 individual grants totaling $7,402,125. 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
PRESERVATION OF LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
MHT HOUSING, INC. FOR THE YEAR ENDED 3/31/23 RECEIVED 9 LOW-INCOME HOUSING TAX CREDIT AWARDS TOTALING 1,026 UNITS. THESE PROJECTS WILL PROVIDE FOR 887 RENOVATED UNITS FOR PRESERVATION IN THE LOW-INCOME HOUSING SYSTEM AND 139 NEW CONSTRUCTION UNITS. THESE PROJECTS WILL HOUSE APPROXIMATELY 2,735 LOW-INCOME INDIVIDUALS. IN ADDITION, OVER THE LAST YEAR MHT HOUSING, INC. HAS COMPLETED THE RENOVATION OF 235 LOW- INCOME UNITS AND NEW CONSTRUCTION OF 96 LOW-INCOME HOUSING UNITS WHICH WILL HOUSE APPROXIMATELY 541 LOW-INCOME INDIVIDUALS. MHT HOUSING, INC. MADE SIGNIFICANT DONATIONS TO SEVERAL NONPROFITS INCLUDING SUPPORTING AN INNER-CITY CHARTER SCHOOL FOR STUDENTS K-12.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy V Fox President | OfficerTrustee | 40 | $626,009 |
Gregory Demars Treasurer (ended 6/18/22) | OfficerTrustee | 5 | $52,500 |
Martha Richardson Chairman | OfficerTrustee | 5 | $0 |
Steven Champa Secretary | OfficerTrustee | 5 | $0 |
Thomas Edmiston Treasurer (began 6/18/22) | OfficerTrustee | 5 | $0 |
Brian A Gallaher Chief Financial Officer | Officer | 40 | $455,076 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Emergency Response Services Inc Contract Services | 3/30/23 | $2,319,199 |
Kem-tec Engineering, Surveying & Environmental S | 3/30/23 | $1,044,505 |
M&n General Contracting Llc Contract Services | 3/30/23 | $734,866 |
Hamp Mathews & Associates Inc Environmental Services | 3/30/23 | $532,000 |
Concept Design Studio Inc Architect Services | 3/30/23 | $475,147 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,529,909 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,729,479 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,259,388 |
| Total Program Service Revenue | $55,205,825 |
| Investment income | $269,112 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $571,914 |
| 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 | $61,326,212 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,001,374 |
| Grants and other assistance to domestic individuals. | $79,977 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,555,708 |
| Compensation of current officers, directors, key employees. | $308,663 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,491,518 |
| Pension plan accruals and contributions | $246,266 |
| Other employee benefits | $564,797 |
| Payroll taxes | $319,015 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $261,078 |
| Fees for services: Accounting | $48,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $38,266 |
| Fees for services: Other | $540,030 |
| Advertising and promotion | $47,359 |
| Office expenses | $557,948 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $360,375 |
| Travel | $205,282 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $124,871 |
| Interest | $148,350 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $328,072 |
| Insurance | $21,111 |
| All other expenses | $0 |
| Total functional expenses | $11,159,136 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,845,910 |
| Savings and temporary cash investments | $16,353,789 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,522,421 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,617,385 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $108,417 |
| Net Land, buildings, and equipment | $8,910,183 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $101,118,195 |
| Intangible assets | $0 |
| Other assets | $336,615 |
| Total assets | $152,812,915 |
| Accounts payable and accrued expenses | $417,499 |
| 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 | $4,212,205 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $602,750 |
| Total liabilities | $5,232,454 |
| Net assets without donor restrictions | $147,580,461 |
| 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 | $152,812,915 |
Grants Awarded
Over the last fiscal year, Mht Housing Inc has awarded $971,374 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
DETROIT CRISTO REY HIGH SCHOOL PURPOSE: TUITION AND OTHER ASSITANCE | $23,000 |
ST PATRICK CATHOLIC SCHOOL PURPOSE: TUITION AND OTHER ASSITANCE | $12,045 |
BACKER LANDSCAPING INC PURPOSE: VACANT LOT CLEAN UP BENEFITING DETROIT CATHOLIC PASTORAL ALLIANCE | $22,825 |
U SNAP BAC PURPOSE: COMMUNITY COMPUTER LAB | $10,290 |
HAVEN HOUSE PURPOSE: GENERAL PROGRAM SUPPORT | $7,500 |
EMERGENCY RESPONSE SERVICES INC PURPOSE: NEIGHBORHOOD CLEANUP BENEFITING THE CITY OF BENTON HARBOR | $81,397 |