Main Street Apartments Corp
- Assets
- $562.5k
- Revenue
- $84.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Huntington, WV
- Founding
- 07/1999
- Data as of
- 12/2021
- EIN
- 55-0765059
Organization Overview
Main Street Apartments Corp is located in Huntington, WV. The organization was established in 1999. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Main Street Apartments Corp 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 12/2021, Main Street Apartments Corp generated $84.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $112.4k during the year ending 12/2021. While expenses have increased by 6.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME, MENTALLY IMPAIRED INDIVUDALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION OWNS AND OPERATES A 12 UNIT COMPLEX IN POINT PLEASANT, WEST VIRGINIA. THE UNITS ARE AVAILABLE TO LOW-INCOME, DISABLED INDIVIDUALS. ALL EXPENSES ARE ATTRIBUTED TO THE FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Markun Chair | OfficerTrustee | $0 | |
William Mullett Vice Chair | OfficerTrustee | $0 | |
Connie Chapman Secretary | OfficerTrustee | $0 | |
Natalie Erlenwein Treasurer | OfficerTrustee | $0 | |
Lisa Zappia Director | Trustee | $0 | |
Linda Pleasants Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $52,663 |
| 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 | $52,663 |
| Total Program Service Revenue | $32,163 |
| Investment income | $20 |
| 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 | $84,846 |
| 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 | $13,925 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,134 |
| Fees for services: Management | $6,162 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,121 |
| 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 | $5,653 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,881 |
| Travel | $961 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,974 |
| Insurance | $0 |
| All other expenses | $287 |
| Total functional expenses | $112,418 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $700 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,040 |
| 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 | $539,851 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,956 |
| Total assets | $562,547 |
| Accounts payable and accrued expenses | $21,516 |
| Grants payable | $0 |
| Deferred revenue | $661 |
| 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 | $1,517 |
| Total liabilities | $23,694 |
| Net assets without donor restrictions | -$306,447 |
| Net assets with donor restrictions | $845,300 |
| 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 | $562,547 |
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Community Housing Network Inc Columbus, OH | $58,364,637 | $14,874,820 |
Housing Development Corporation Midatlantic Lancaster, PA | $24,908,226 | $11,939,671 |
Project Plase Inc Baltimore, MD | $6,563,951 | $8,999,720 |
Over The Rhine Community Housing Cincinnati, OH | $24,358,276 | $7,722,304 |
Norris Square Community Alliance Philadelphia, PA | $13,759,138 | $8,779,038 |
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