Montgomery Housing Partnership Inc
- Assets
- $24.4m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Silver Spring, MD
- Founding
- 09/1989
- Data as of
- 12/2022
- EIN
- 52-1797072
Organization Overview
Montgomery Housing Partnership Inc is located in Silver Spring, MD. The organization was established in 1989. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Montgomery Housing Partnership 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 12/2022, Montgomery Housing Partnership Inc generated $3.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $4.0m during the year ending 12/2022. While expenses have increased by 2.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 104 SCATTERED SITE HOUSING UNITS AND 134 APARTMENTS TO LOW-INCOME FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Cooley President | OfficerTrustee | 1 | $0 |
Eugene Costa Treasurer | OfficerTrustee | 1 | $0 |
Jennifer Rudolph Assistant Treasurer | OfficerTrustee | 1 | $0 |
Jill Goodrich Outgoing Assistance Secretary | OfficerTrustee | 1 | $0 |
Nancy Holland Secretary | OfficerTrustee | 1 | $0 |
Robert Goldman Vice 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 | $3,638,330 |
| Investment income | $9,030 |
| 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 | $3,689,343 |
| 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 | $494,130 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,303 |
| Payroll taxes | $36,710 |
| Fees for services: Management | $113,327 |
| Fees for services: Legal | $9,203 |
| Fees for services: Accounting | $42,988 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $348,212 |
| Advertising and promotion | $10,737 |
| Office expenses | $93,121 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $290,564 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $701,327 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $645,558 |
| Insurance | $107,894 |
| All other expenses | $0 |
| Total functional expenses | $3,973,462 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,181,708 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $365,778 |
| 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 | $103,596 |
| Net Land, buildings, and equipment | $14,282,031 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,496,082 |
| Total assets | $24,429,195 |
| Accounts payable and accrued expenses | $123,466 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $179,108 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $21,504,330 |
| Unsecured mortgages and notes payable | $831,068 |
| Other liabilities | $116,180 |
| Total liabilities | $22,754,152 |
| Net assets without donor restrictions | $1,675,043 |
| 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 | $24,429,195 |