Marion Street Apartments Inc
- Assets
- $890.9k
- Revenue
- $238.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Portland, OR
- Founding
- 06/1996
- Data as of
- 12/2021
- EIN
- 93-1209647
Organization Overview
Marion Street Apartments Inc is located in Portland, OR. The organization was established in 1996. According to its NTEE Classification (L80) the organization is classified as: Housing Support, 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. Marion Street Apartments 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 12/2021, Marion Street Apartments Inc generated $238.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $231.1k during the year ending 12/2021. While expenses have increased by 3.8% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO AQUIRE AND OPERATE A 24-UNIT APARTMENT COMPLEX FOR LOWER-INCOME FAMILIES AND INDIVIDUALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARION STREET APARTMENTS WAS FORMED TO ACQUIRE AND OPERATE A 24-UNIT APARTMENT COMPLEX FOR LOWER-INCOME FAMILIES AND INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Werner Treasurer | OfficerTrustee | 1 | $0 |
Debbie Burke Vice Chair | OfficerTrustee | 1 | $0 |
Marc Tedesco Secretary (outgoing) | OfficerTrustee | 1 | $0 |
Jill Lam Chair | OfficerTrustee | 1 | $0 |
Jamie Beckland Secretary | OfficerTrustee | 1 | $0 |
Pamela Benoit COO | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $132,307 |
| 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 | $132,307 |
| Total Program Service Revenue | $105,637 |
| Investment income | $142 |
| 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 | $238,086 |
| 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 | $40,594 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $24,126 |
| Fees for services: Legal | $2,570 |
| Fees for services: Accounting | $13,294 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $53,109 |
| Advertising and promotion | $0 |
| Office expenses | $21,460 |
| 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 | $58 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,469 |
| Insurance | $5,481 |
| All other expenses | $2,792 |
| Total functional expenses | $231,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,828 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,669 |
| 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 | $1,711 |
| Net Land, buildings, and equipment | $397,294 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $450,427 |
| Total assets | $890,929 |
| Accounts payable and accrued expenses | $8,516 |
| Grants payable | $0 |
| Deferred revenue | $3,881 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,308 |
| Total liabilities | $29,705 |
| Net assets without donor restrictions | $84,976 |
| Net assets with donor restrictions | $776,248 |
| 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 | $890,929 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bellwether Housing Seattle, WA | $195,617,991 | $40,714,162 |
Viamonte Senior Living San Francisco, CA | $242,110,392 | $7,634,323 |
Charles Apartments Housing Corporation Hayward, CA | $0 | $319,066 |
Satellite Affordable Housing Associates Berkeley, CA | $83,294,736 | $13,591,508 |
Rhf Foundation Long Beach, CA | $215,917,223 | $14,903,975 |
Sheltercare Eugene, OR | $4,357,138 | $9,135,740 |
Midpen Resident Services Corporation Foster City, CA | $3,702,334 | $11,407,168 |
Bridge Property Management Company San Francisco, CA | $1,233,636 | $9,360,308 |
Burbank Housing Corporation Burbank, CA | $47,643,861 | $6,370,585 |
Habitat For Humanity San Fernando/Santa Clarita Valleys Woodland Hills, CA | $1 | $4,168,206 |
Do Good Multnomah Portland, OR | $6,858,210 | $9,987,432 |
Satellite Aha Development Inc Berkeley, CA | $17,466,494 | $5,909,155 |