Mht Housing Iv Inc
- Assets
- $13.0m
- Revenue
- $72.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Bingham Farms, MI
- Founding
- 02/1998
- Data as of
- 03/2022
- EIN
- 38-3384042
Organization Overview
Mht Housing Iv Inc is located in Bingham Farms, MI. The organization was established in 1998. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mht Housing Iv 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 03/2022, Mht Housing Iv Inc generated $72.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (25.8%) each year. All expenses for the organization totaled $1.2k during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (59.7%) per year over the past 7 years. 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
PRESERVATION OF LOW-INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PRESERVE AND EXTEND AFFORDABLE HOUSING THROUGH THE ACQUISITION AND OPERATION OF MULTIFAMILY RESIDENTIAL REAL ESTATE FOR LOW AND VERY LOW INCOME TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory J Demars Treasurer | OfficerTrustee | 5 | $0 |
Timothy A Fox COO | Officer | 5 | $0 |
Martha J Richardson Chairman | OfficerTrustee | 10 | $0 |
Steven Champa Secretary | OfficerTrustee | 5 | $0 |
Brian Gallaher Chief Financial Officer | Officer | 10 | $0 |
Andrew Martin Vice President | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $357,000 |
| 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 | $357,000 |
| Total Program Service Revenue | -$1,026,213 |
| Investment income | $266,628 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $474,611 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $72,026 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $315 |
| Fees for services: Accounting | $852 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,167 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $879,403 |
| Savings and temporary cash investments | $0 |
| 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 | $8,705,852 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,424,936 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,010,191 |
| Accounts payable and accrued expenses | $0 |
| 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 | $734,748 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $734,748 |
| Net assets without donor restrictions | $0 |
| 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 | $12,275,443 |
| Total liabilities and net assets/fund balances | $13,010,191 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Affordable Housing Partners Inc Carmel, IN | $150,650,716 | $9,214,618 |
Famicos Foundation Inc Cleveland, OH | $56,363,268 | $13,331,115 |
Mht Housing Inc Bingham Farms, MI | $103,750,395 | $19,352,676 |
Excel Development Co Inc Cincinnati, OH | $14,214,242 | $8,847,104 |
Miami Valley Housing Opportunities Inc Dayton, OH | $17,399,456 | $7,922,561 |
Habitat For Humanity International Inc Madison, WI | $16,210,690 | $8,401,610 |
Crf Affordable Housing Inc Plainfield, IN | $71,328,382 | $70,095,090 |
National Affordable Housing Trust Inc Columbus, OH | $12,512,765 | $8,943,724 |
Saints Incorporated Wayne, MI | $4,505,745 | $8,843,014 |
Columbus Housing Partnership Inc Columbus, OH | $57,775,833 | $13,476,247 |
Homes Of Opportunity Incorporated Grand Rapids, MI | $1,211,913 | $7,041,682 |
Habitat For Humanity International Inc Menasha, WI | $15,348,102 | $7,467,447 |