Menorah Center Inc
- Assets
- $5.5m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 13
- Location
- St Petersburg, FL
- Founding
- 12/1968
- Data as of
- 06/2023
- EIN
- 59-1268962
Organization Overview
Menorah Center Inc is located in St Petersburg, FL. The organization was established in 1968. 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. As of 06/2023, Menorah Center Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Menorah Center 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 06/2023, Menorah Center Inc generated $2.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $1.8m during the year ending 06/2023. While expenses have increased by 0.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING FOR LOW TO MODERATE INCOME ELDERLY PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
197 RESIDENTIAL APARTMENTS PROVIDED TO LOW TO MODERATE INCOME ELDERLY PERSONS UNDER SECTION 236 OF THE NATIONAL HOUSING ACT - HUD REGULATED UNTIL 9/1/2011 WHEN THE HUD REGULATORY AGREEMENT ENDED AS A RESULT OF THE HUD SECTION 236 MORTGAGE BEING PAID OFF. THE CENTER ENTERED INTO ANOTHER USE AGREEMENT WITH HUD THAT REQUIRES THE CENTER TO PROVIDE LIVING FACILITIES FOR LOW-INCOME ELDERLY OR DISABLED PERSONS UNTIL AUGUST 31, 2031. THE CENTER ALSO ENTERED INTO A PROJECT-BASED SECTION 8 HOUSING ASSISTANCE PAYMENTS (HAP) CONTRACT WITH THE ST. PETERSBURG HOUSING AUTHORITY EFFECTIVE FROM DECEMBER 1, 2012 THROUGH NOVEMBER 30, 2027. AS A RESULT, THE CENTER RECEIVED 162 VOUCHERS TO ASSIST LOW-INCOME ELDERLY FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Morris Lecompte Director | OfficerTrustee | 1 | $0 |
Mark Benjamin Director | Trustee | 1 | $0 |
Nancy Clark Treasurer | Trustee | 2 | $0 |
Gerald Davis Director | Trustee | 1 | $0 |
Greg Sembler President | OfficerTrustee | 2 | $0 |
Larry Freid Director | Trustee | 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 | $2,052,872 |
| Investment income | $7,488 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $120,939 |
| 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 | $2,181,299 |
| 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 | $306,950 |
| Pension plan accruals and contributions | $3,648 |
| Other employee benefits | $52,918 |
| Payroll taxes | $23,396 |
| Fees for services: Management | $107,655 |
| Fees for services: Legal | $4,625 |
| Fees for services: Accounting | $20,994 |
| 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 | $26,087 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $329,879 |
| Travel | $1,429 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60 |
| Interest | $27,089 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $232,964 |
| Insurance | $215,605 |
| All other expenses | $61,751 |
| Total functional expenses | $1,752,254 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,355,789 |
| Savings and temporary cash investments | $151,125 |
| Pledges and grants receivable | $1,241 |
| Accounts receivable, net | $44,369 |
| 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 | $128,542 |
| Net Land, buildings, and equipment | $2,840,901 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,521,967 |
| Accounts payable and accrued expenses | $132,973 |
| Grants payable | $0 |
| Deferred revenue | $8,301 |
| 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 | $989,625 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $150,245 |
| Total liabilities | $1,281,144 |
| Net assets without donor restrictions | $4,240,823 |
| 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 | $5,521,967 |