Mercy Housing South East
- Assets
- $36.4m
- Revenue
- $10.0m
- Investments
- $2.2m
- Employees
- 0
- Location
- Denver, CO
- Founding
- 06/2009
- Data as of
- 12/2023
- EIN
- 56-1993872
Organization Overview
Mercy Housing South East is located in Denver, CO. The organization was established in 2009. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Mercy Housing South East 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 12/2023, Mercy Housing South East generated $10.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $5.2m during the year ending 12/2023. While expenses have increased by 3.1% 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.
Since 2014, Mercy Housing South East has awarded 51 individual grants totaling $5,759,052. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP LOW-INCOME HOUSING AND PROVIDE SERVICES TO LOW INCOME FAMILIES, ELDERLY, HANDICAPPED, HOMELESS, POTENTIALLY HOMELESS, OR OTHERWISE DISADVANTAGED PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENT SERVICES AND PROGRAMS ARE PROVIDED FREE OF CHARGE TO RESIDENTS OF LOW-INCOME MULTI-FAMILY RENTAL PROPERTIES INCLUDING FAMILIES, SENIORS, AND PEOPLE WITH SPECIAL NEEDS. THE RESIDENT SERVICES AND PROGRAMS FALL INTO FOUR PRIMARY AREAS - EDUCATION, COMMUNITY, HEALTH AND WELLNESS, AND ECONOMIC STABILITY. RESIDENT SERVICES AND PROGRAMS ARE TAILORED TO MEET THE NEEDS OF EACH LOW-INCOME HOUSING COMMUNITY, INCLUDING AFTER-SCHOOL PROGRAMS FOR CHILDREN, GED AND ENGLISH COURSES, EMPLOYMENT INITIATIVES AND HOMEOWNERSHIP SEMINARS.
HOUSING DEVELOPMENT PROGRAMS AND SERVICES INCLUDE ACQUIRING ACCEPTABLE LOCATIONS FOR EITHER NEW CONSTRUCTION OR REHABILITATION OF EXISTING PROPERTIES FOR MULTI-FAMILY RENTAL PROPERTIES AND SINGLE FAMILY HOUSING UNITS TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME RESIDENTS, OBTAINING FINANCING FOR THE DEVELOPMENT OF LOW-INCOME PROPERTIES AND HOUSING UNITS, AND MANAGING THE CONSTRUCTION AND/OR REHABILITATION OF LOW-INCOME PROPERTIES AND HOUSING UNITS THROUGH OBTAINING THE CERTIFICATION OF OCCUPANCY AND PROJECT COMPLETION.
ASSET MANAGEMENT SERVICES ARE PROVIDED TO LOW-INCOME MULTI-FAMILY RENTAL PROPERTIES AND INCLUDE PREPARING AND MANAGING ANNUAL OPERATING BUDGETS, PREPARING REPORTS FOR INVESTORS AND LENDERS, OVERSEEING THE PROPERTY MANAGEMENT SERVICES, AND ENSURING AND MONITORING COMPLIANCE TO MEET REGULATORY AND ELIGIBILITY REQUIREMENTS OF RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Clayton Vice President | Officer | 1 | $0 |
Joe Rosenblum Secretary | Officer | 1 | $0 |
James Alexander President | Officer | 1 | $0 |
Chad Payne Treasurer | Officer | 1 | $0 |
Beth Haynes Vice President | Officer | 1 | $0 |
Bruce Saab Vice President (until 10/23) | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $50,000 |
| Membership dues | $0 |
| Fundraising events | $24,050 |
| Related organizations | $385,466 |
| Government grants | $325,796 |
| All other contributions, gifts, grants, and similar amounts not included above | $370,558 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,155,870 |
| Total Program Service Revenue | $1,353,081 |
| Investment income | $36,546 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $95,569 |
| Net Income from Fundraising Events | -$20,446 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,955,601 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,942 |
| 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 | $460 |
| Fees for services: Accounting | $13,478 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,236,079 |
| Advertising and promotion | $0 |
| Office expenses | $451,868 |
| Information technology | $7,474 |
| Royalties | $0 |
| Occupancy | $273,776 |
| Travel | $90,608 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,746 |
| Interest | $303,998 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $383,087 |
| Insurance | $8,260 |
| All other expenses | $59,781 |
| Total functional expenses | $5,198,915 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $472,499 |
| Savings and temporary cash investments | $800,000 |
| Pledges and grants receivable | $115,429 |
| Accounts receivable, net | $6,186,619 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $17,357,294 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $75,177 |
| Net Land, buildings, and equipment | $8,915,114 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,179,638 |
| Investments—program-related | $0 |
| Intangible assets | $73,062 |
| Other assets | $269,537 |
| Total assets | $36,444,369 |
| Accounts payable and accrued expenses | $440,718 |
| Grants payable | $0 |
| Deferred revenue | $4,873 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $11,900 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,785,699 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,649,443 |
| Total liabilities | $23,892,633 |
| Net assets without donor restrictions | $10,932,355 |
| Net assets with donor restrictions | $1,619,381 |
| 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 | $36,444,369 |
Grants Awarded
Over the last fiscal year, Mercy Housing South East has awarded $102,975 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MHSE 16 SAVANNAH GARDENS 6 LP PURPOSE: LOW-INCOME HOUSING | $11,864 |
MPI HIGHLAND PLACE APARTMENTS LP PURPOSE: LOW-INCOME HOUSING | $91,111 |