Ulgm Real Estate Holdings Inc
- Assets
- $27.3m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- Data as of
- 12/2022
- EIN
- 87-4082659
Organization Overview
Ulgm Real Estate Holdings Inc is located in Madison, WI. According to its NTEE Classification (P19) the organization is classified as: Support N.E.C., under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ulgm Real Estate Holdings Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO HOLD TITLE TO PROPERTY (BLACK BUSINESS HUB), COLLECT INCOME THEREFROM, AND TURN THE ENTIRE AMOUNT, LESS EXPENSES, TO THE URBAN LEAGUE OF GREATER MADISON, INC
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE URBAN LEAGUE CONTINUED THE WORK IT BEGAN IN 2021 TO DEVELOP THE BLACK BUSINESS HUB & BLACK BUSINESS HUB ACCELERATOR PROGRAM (HUB). THE HUB IS SET TO BECOME THE REGION'S PREMIERE ENTERPRISE CENTER DEVOTED TO INCUBATING, ACCELERATING, AND NETWORKING BLACK-OWNED BUSINESSES AND ENTREPRENEURS. THE HUB WILL BE BOTH A PHYSICAL SPACE AND A PLACE-BASED, BLACK-LED ENTREPRENEURIAL ECOSYSTEM OF ENTREPRENEURIAL DEVELOPMENT SERVICES. IT WILL BE LOCATED IN A HIGH-POVERTY AREA IN THE HEART OF MADISON'S OLDEST MULTICULTURAL NEIGHBORHOOD. IT WILL SUPPORT DIVERSE BUSINESSES BY PROVIDING AN ARRAY OF AFFORDABLE SPACES, BE HOME TO MULTIPLE SMALL BUSINESS DEVELOPMENT AGENCIES, PROVIDE TECHNICAL ASSISTANCE, FOSTER A COMMUNITY OF DIVERSE ENTREPRENEURS, AND PROVIDE ACCESS TO CAPITAL. CONSTRUCTION ON THE 80,000 SQUARE FOOT, 4-STORY BUILDING BEGAN IN APRIL OF 2022. WE ANTICIPATE TENANTS MOVING INTO THE BUILDING AS EARLY AS SUMMER OF 2023, WITH FULL OCCUPANCY PROJECTED IN 2026.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ruben L Anthony Jr President | OfficerTrustee | 1 | $0 |
Gloria Ladson-Billings Vice President | OfficerTrustee | 1 | $0 |
Beth Curley-Prestine Secretary | OfficerTrustee | 1 | $0 |
Sally Martyniak Treasurer | OfficerTrustee | 1 | $0 |
Dwight Mcdonald 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 | $2,370,080 |
| Noncash contributions included in lines 1a–1f | $550,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,370,080 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $2,370,080 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $6,045 |
| Total functional expenses | $6,045 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,017,753 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $11,268,253 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,286,006 |
| Accounts payable and accrued expenses | $3,115,221 |
| Grants payable | $0 |
| Deferred revenue | $5,000,000 |
| 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 | $16,806,750 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $24,921,971 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $2,364,035 |
| 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 | $27,286,006 |