Mercy Bond Properties Colorado I
- Assets
- $2.5m
- Revenue
- $603.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 12/1999
- Data as of
- 12/2022
- EIN
- 94-3286321
Organization Overview
Mercy Bond Properties Colorado I is located in Denver, CO. The organization was established in 1999. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, 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. Mercy Bond Properties Colorado I 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, Mercy Bond Properties Colorado I generated $603.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $567.9k during the year ending 12/2022. While expenses have increased by 0.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING FACILITIES, EDUCATION, AND SUPPORT FOR LOW-INCOME, HOMELESS, POTENTIALLY HOMELESS, OR OTHERWISE DISADVANTAGED PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING DEVELOPMENT PROGRAMS AND SERVICES INCLUDE ACQUIRING ACCEPTABLE LOCATIONS FOR EITHER NEW CONSTRUCTION OR REHABILITATION OF EXISTING PROPERTIES FOR MULTI-FAMILY RENTAL PROPERTIES AND SINGLE FAMILY HOUSING UNITS. THESE WOULD HELP TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME RESIDENTS, OBTAIN FINANCING FOR THE DEVELOPMENT OF LOW-INCOME PROPERTIES AND HOUSING UNITS, AND MANAGE THE CONSTRUCTION AND/OR REHABILITATION OF LOW-INCOME PROPERTIES AND HOUSING UNITS THROUGH OBTAINING THE CERTIFICATION OF OCCUPANCY PROJECT COMPLETION. THE PROJECT CONSISTS OF 54 UNITS LOCATED IN DENVER, COLORADO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Saab Vice President/director | OfficerTrustee | 1 | $0 |
Joseph Rosenblum Secretary/director | OfficerTrustee | 1 | $0 |
Melissa Clayton Vice President/director | OfficerTrustee | 1 | $0 |
Chad Payne Treasurer | Officer | 1 | $0 |
Shelly Marquez President | Officer | 1 | $0 |
Kassidi Boening Vice President | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $388,080 |
| 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 | $388,080 |
| Total Program Service Revenue | $215,184 |
| Investment income | $1 |
| 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 | $603,265 |
| 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 | $70,516 |
| Pension plan accruals and contributions | $1,179 |
| Other employee benefits | $12,171 |
| Payroll taxes | $5,446 |
| Fees for services: Management | $34,992 |
| Fees for services: Legal | $1,800 |
| Fees for services: Accounting | $16,294 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,420 |
| Advertising and promotion | $15 |
| Office expenses | $11,439 |
| Information technology | $1,988 |
| Royalties | $0 |
| Occupancy | $191,746 |
| Travel | $1,425 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,008 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $115,011 |
| Insurance | $0 |
| All other expenses | $201 |
| Total functional expenses | $567,910 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,890 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,110 |
| 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 | $12,251 |
| Net Land, buildings, and equipment | $1,987,123 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $231,365 |
| Total assets | $2,451,739 |
| Accounts payable and accrued expenses | $31,027 |
| Grants payable | $0 |
| Deferred revenue | $661 |
| 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 | $2,155,069 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,352 |
| Total liabilities | $2,198,109 |
| Net assets without donor restrictions | $253,630 |
| 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 | $2,451,739 |