Muskegon Retirement Apartments Inc
- Assets
- $898.4k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Muskegon, MI
- Founding
- 02/1966
- Data as of
- 12/2023
- EIN
- 38-6107781
Organization Overview
Muskegon Retirement Apartments Inc is located in Muskegon, MI. The organization was established in 1966. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Muskegon Retirement Apartments Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Muskegon Retirement Apartments Inc generated $1.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $850.1k during the year ending 12/2023. While expenses have increased by 2.0% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES RENTAL HOUSING FOR SENIOR CITIZENS UNDER SECTION 202 OF THE HOUSING ACT OF 1959. AS AMENDED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES RENTAL HOUSING FOR SENIOR CITIZENS UNDER SECTION 202 OF THE HOUSING ACT OF 1959. AS AMENDED.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roy Portenga President | OfficerTrustee | 1 | $0 |
Marty Ferriby Vice Preside | OfficerTrustee | 1 | $0 |
Sara Rinsema-Sybenga Secretary | OfficerTrustee | 1 | $0 |
Greg Scott Treasurer | OfficerTrustee | 1 | $0 |
Eugene Fethke Director | OfficerTrustee | 1 | $0 |
Mike Franczk Director | Trustee | 1 | $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 | $1,018,324 |
| Investment income | $4 |
| 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 | $1,029,645 |
| 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 | $118,614 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,653 |
| Payroll taxes | $20,495 |
| Fees for services: Management | $62,426 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,518 |
| 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 | $25,016 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $225,711 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,521 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,431 |
| Insurance | $54,487 |
| All other expenses | $75 |
| Total functional expenses | $850,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,672 |
| Savings and temporary cash investments | $80,556 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,284 |
| 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 | $19,702 |
| Net Land, buildings, and equipment | $570,804 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $60,389 |
| Total assets | $898,407 |
| Accounts payable and accrued expenses | $18,346 |
| Grants payable | $0 |
| Deferred revenue | $1,082 |
| 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 | $1,252,077 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $317,389 |
| Total liabilities | $1,588,894 |
| Net assets without donor restrictions | -$690,487 |
| 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 | $898,407 |