Monroe Place Corporation is located in South Burlington, VT. The organization was established in 1995. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Monroe Place Corporation 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 09/2021, Monroe Place Corporation generated $154.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $173.8k during the year ending 09/2021. While expenses have increased by 4.7% per year over the past 6 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
PROVIDING LOW-COST HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION WAS FORMED FOR THE PURPOSE OF DEVELOPING AND OPERATING A 16 UNIT HOUSING PROJECT FOR LOW-INCOME RESIDENTS WHO SUFFER FROM CHRONIC MENTAL ILLNESS
THE CORPORATION WAS FORMED FOR THE PURPOSE OF DEVELOPING AND OPERATING A 16 UNIT HOUSING PROJECT FOR LOW-INCOME RESIDENTS WHO SUFFER FROM CHRONIC MENTAL ILLNESS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Erik Hoekstra Treasurer | OfficerTrustee | 1 | $0 |
Christopher L Davis President | OfficerTrustee | 1 | $0 |
Polly Nichol Secretary | OfficerTrustee | 1 | $0 |
Stephanie Taylor Vice President | OfficerTrustee | 1 | $0 |
Kim Fitzgerald CEO | Officer | 1 | $0 |
Sister Mary Boiselle Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $95,560 |
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 | $95,560 |
Total Program Service Revenue | $58,764 |
Investment income | $122 |
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 | $154,446 |
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 | $11,712 |
Fees for services: Legal | $158 |
Fees for services: Accounting | $7,300 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $504 |
Office expenses | $1,634 |
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 | $504 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $29,551 |
Insurance | $8,530 |
All other expenses | $0 |
Total functional expenses | $173,822 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $13,460 |
Savings and temporary cash investments | $105,659 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $250 |
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 | $1,991 |
Net Land, buildings, and equipment | $564,056 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $5,061 |
Total assets | $690,477 |
Accounts payable and accrued expenses | $24,733 |
Grants payable | $0 |
Deferred revenue | $240 |
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 | $4,871 |
Total liabilities | $29,844 |
Net assets without donor restrictions | -$520,167 |
Net assets with donor restrictions | $1,180,800 |
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 | $690,477 |
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Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
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Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |
Boston Tremont Housing Development Fund Corporation New York, NY | $28,761,784 | $24,917,100 |