Jubilee Baltimore Inc
- Assets
- $10.6m
- Revenue
- $7.6m
- Investments
- -$1.0m
- Employees
- 6
- Location
- Baltimore, MD
- Founding
- 07/1981
- Data as of
- 06/2022
- EIN
- 52-1222237
Organization Overview
Jubilee Baltimore Inc is located in Baltimore, MD. The organization was established in 1981. 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 06/2022, Jubilee Baltimore Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jubilee Baltimore 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 06/2022, Jubilee Baltimore Inc generated $7.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.9% each year . All expenses for the organization totaled $2.2m during the year ending 06/2022. While expenses have increased by 8.4% per year over the past 7 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
TO PURCHASE, REHABILITATE, AND LEASE MULTI-FAMILY DWELLINGS TO QUALIFIED LOW INCOME TENANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING PROGRAM - DEVELOP AFFORDABLE HOUSING IN MIDTOWN BALTIMORE CITY; ASSIST LOW INCOME MEMBERS OF THE COMMUNITY IDENTIFY HOUSING ALTERNATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles B Duff Jr President, Exec Dir | OfficerTrustee | 40 | $132,642 |
J Joseph Clarke Vice President | OfficerTrustee | 1 | $0 |
Edward M Hord Chairman | OfficerTrustee | 1 | $0 |
Maureen Flynn Director | Trustee | 1 | $0 |
Richard Manekin Director | Trustee | 1 | $0 |
Melissa Warlow Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $620,627 |
| All other contributions, gifts, grants, and similar amounts not included above | $108,871 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $729,498 |
| Total Program Service Revenue | $1,647,681 |
| Investment income | $2,107 |
| 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 | $7,560,511 |
| 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. | $194,893 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $294,342 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $38,622 |
| Payroll taxes | $36,890 |
| 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 | $76,356 |
| Advertising and promotion | $0 |
| Office expenses | $57,699 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $74,597 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $100,730 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,255 |
| Insurance | $27,965 |
| All other expenses | $79,128 |
| Total functional expenses | $2,218,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $821,282 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $240,000 |
| Accounts receivable, net | $56,786 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,474,272 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $70,224 |
| Net Land, buildings, and equipment | $394,966 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | -$1,003,583 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,557,029 |
| Total assets | $10,610,976 |
| Accounts payable and accrued expenses | $155,092 |
| Grants payable | $0 |
| Deferred revenue | $1,061,991 |
| 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 | $3,833,946 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,208,290 |
| Total liabilities | $10,259,319 |
| Net assets without donor restrictions | $351,657 |
| 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 | $10,610,976 |
Grants Awarded
Over the last fiscal year, Jubilee Baltimore Inc has awarded $239,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HOMES FOR AMERICA INC PURPOSE: FOR HOUSING ASSISTANCE FOR QUALIFIED LOW INCOME TENANTS. | $100,000 |
10 E NORTH LLC PURPOSE: FOR HOUSING ASSISTANCE FOR QUALIFIED LOW INCOME TENANTS. | $126,000 |
MIDTOWN DEVELOPMENT CORPORATION PURPOSE: TO ASSIST THE MIDTOWN COMMUNITY TO AID IN PHYSICAL REDEVELOPMENT OF THE AREA | $13,000 |