Mmm Roseland Inc
- Assets
- $3.0m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 5
- Location
- Conroe, TX
- Founding
- 11/1994
- Data as of
- 09/2023
- EIN
- 76-0435160
Organization Overview
Mmm Roseland Inc is located in Conroe, TX. The organization was established in 1994. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Mmm Roseland Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mmm Roseland Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 09/2023, Mmm Roseland Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $1.4m during the year ending 09/2023. While expenses have increased by 1.1% 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
TO OWN AND OPERATE AN APARTMENT PROJECT WITH 138 UNITS MADE UP OF 69 DUPLEX BUILDINGS. A TOTAL OF 28 UNITS ARE MAINTAINED AS RENTAL UNITS FOR VERY-LOW INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE A 138 UNIT APARTMENT PROJECT MADE UP OF 69 DUPLEX BUILDINGS WHICH PROVIDES A TOTAL OF 49 QUALIFYING UNITS OF WHICH 28 MUST BE LEASED TO VERY LOW-INCOME TENANTS PURSUANT TO A LAND USE RESTRICTION AGREEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Tann Vice President | OfficerTrustee | 1 | $0 |
Nannette Vallis Secretary/treasurer | OfficerTrustee | 1 | $0 |
Homer Allison President | OfficerTrustee | 0.25 | $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 | $1,484,986 |
| Investment income | $17,768 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,371 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,500,383 |
| 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 | $238,351 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,709 |
| Payroll taxes | $17,637 |
| Fees for services: Management | $65,831 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,854 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,600 |
| Advertising and promotion | $233 |
| Office expenses | $12,712 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $493,909 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $106,305 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $181,222 |
| Insurance | $191,927 |
| All other expenses | $0 |
| Total functional expenses | $1,424,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,971 |
| Savings and temporary cash investments | $432,656 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,328 |
| 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 | $153,924 |
| Net Land, buildings, and equipment | $935,393 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $236,451 |
| Other assets | $1,201,413 |
| Total assets | $3,021,136 |
| Accounts payable and accrued expenses | $140,824 |
| Grants payable | $0 |
| Deferred revenue | $9,222 |
| 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 | $3,231,743 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,700 |
| Total liabilities | $3,416,489 |
| Net assets without donor restrictions | -$395,353 |
| 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 | $3,021,136 |