Miracleplace Pasco Tampa Initiative Inc
- Assets
- $12.9m
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Tampa, FL
- Founding
- 10/2014
- Data as of
- 06/2022
- EIN
- 46-5676552
Organization Overview
Miracleplace Pasco Tampa Initiative Inc is located in Tampa, FL. The organization was established in 2014. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, 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. Miracleplace Pasco Tampa Initiative Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACT AS A SUPPORTING ORGANIZATION OF METROPOLITAN MINISTRIES, INC., A FLORIDA NOT-FOR-PROFIT CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIRACLEPLACE PASCO-TAMPA INITIATIVE, INC. SUPPORTS METROPOLITAN MINISTRIES BY USE OF FEDERAL AND STATE NEW MARKETS TAX CREDITS FOR DEVELOPMENT AND RENOVATION OF QUALIFIED LOW-INCOME COMMUNITY INVESTMENTS. MIRACLEPLACE PASCO-TAMPA INITIATIVE, INC. COMPLETED A NEW MARKETS TAX CREDITS TRANSACTION IN 2015 TO PROVIDE FUNDS TO FINANCE THE EXPANSION AND DEVELOPMENT IN PASCO, FLORIDA OF A NEW TRANSITIONAL HOUSING FACILITY FOR THE HOMELESS AND THOSE AT RISK OF BECOMING HOMELESS." IN FISCAL 2021 METROPOLITAN MINISTRIES SUCCCESSFULLY COMPLETED THE UNWIND OF THE NEW MARKETS TAX CREDIT TRANSACTION LEADING TO THE CREATION OF MIRACLEPLACE PASCO-TAMPA INITIATIVE, INC. THE GENEROUS PARTNERSHIP OF WHITNEY HANCOCK BANK, CHASE BANK, AND THE FLORIDA COMMUNITY LOAN FUND SUPPORTED THE CONSTRUCTION OF THE RESIDENTIAL FACILITY PROVIDING SHELTER AND WRAP AROUND SERVICES TO OVER 50 FAMILES PER YEAR AND HOUSING COUNSELING PROGRAMS. THE EXERCISE OF PUT OPTIONS TO UNWIND THE TRANSACTION RESULTED IN ELIMINATION BY FORGIVENESS OF OVER $15 MILLION IN LIABILITY AND NON-CASH NET PROCEEDS OF $6 MILLION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacy Wagner Treasurer | OfficerTrustee | 1 | $0 |
Chris Christenberry Secretary | OfficerTrustee | 1 | $0 |
Tim Marks President | OfficerTrustee | 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 | $0 |
| 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 | $0 |
| 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 | $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 | $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 | $379,501 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $379,501 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $12,937,133 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,937,133 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $12,937,133 |
| 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 | $12,937,133 |
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