Midland Visions 2000
- Assets
- $6.9m
- Revenue
- $792.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Midland, TX
- Founding
- 05/1995
- Data as of
- 12/2022
- EIN
- 75-2531526
Organization Overview
Midland Visions 2000 is located in Midland, TX. The organization was established in 1995. 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. Midland Visions 2000 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, Midland Visions 2000 generated $792.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.5%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.7%) per year over the past 8 years. 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
PROVIDE DECENT AND AFFORDABLE HOUSING FOR LOWER INCOME RESIDENTS, INCLUDINGMINORITIES,WOMEN, ELDERLY AND HE HANDICAPPED, IN THE NEIGHBORHOODS WITHINMIDLAND COUNTY, TEXAS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE DECENT AND AFFORDABLE HOUSING FOR LOWER INCOME RESIDENTS, INCLUDINGMINORITIES, WOMEN, ELDERLY AND THE HANDICAPPED, IN THE NEIGHBORHOODS WITHINMIDLAND COUNTY, TEXAS;
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cary Love President | Trustee | 5 | $0 |
Edward Mayberry Vice-President | Trustee | 1 | $0 |
Sharon Davis Director | Trustee | 1 | $0 |
Linda Brit Member | Trustee | 1 | $0 |
Kandi Brem Secretary/treasure | Trustee | 1 | $0 |
Arlene Love Executive Director | Trustee | 60 | $174,798 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Halah Property Management Inc Mangement Consultants | 12/30/22 | $143,500 |
Trinet Employee Leasing | 12/30/22 | $222,486 |
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 | $731,665 |
| Investment income | $60,450 |
| 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 | $792,115 |
| 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 | $43,917 |
| Compensation of current officers, directors, key employees. | $174,798 |
| Compensation of current officers, directors, key employees. | $174,798 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $26,132 |
| Fees for services: Management | $82,922 |
| Fees for services: Legal | $15,511 |
| Fees for services: Accounting | $12,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $120,650 |
| Advertising and promotion | $0 |
| Office expenses | $7,029 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,146 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $109,845 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $146,264 |
| Insurance | $40,495 |
| All other expenses | $144 |
| Total functional expenses | $1,200,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,453 |
| Savings and temporary cash investments | $1,433,694 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $155,983 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $20,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,232,461 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,777 |
| Total assets | $6,939,368 |
| Accounts payable and accrued expenses | $30,268 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $37,822 |
| Secured mortgages and notes payable | $2,026,697 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,094,787 |
| Net assets without donor restrictions | $4,844,581 |
| 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 | $6,939,368 |