Margaret Ford Manor Ltd
- Assets
- $2.7m
- Revenue
- $902.3k
- Investments
- $0.0
- Employees
- 8
- Location
- Chicago, IL
- Founding
- 05/1997
- Data as of
- 12/2023
- EIN
- 31-1514417
Organization Overview
Margaret Ford Manor Ltd is located in Chicago, IL. The organization was established in 1997. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Margaret Ford Manor Ltd employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Margaret Ford Manor Ltd 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 12/2023, Margaret Ford Manor Ltd generated $902.3k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 9 years. 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
PROVIDE AFFORDABLE HOUSING TO LOW AND MODERATE INCOME ELDERLY AND DISABLED RESIDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OWNS AND OPERATES A 59-UNIT HOUSING PROJECT FOR THE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pastor K Ford President | OfficerTrustee | 2 | $0 |
Dolly Dockery Secretary | OfficerTrustee | 2 | $0 |
Betty J Jones VP & Treasurer | OfficerTrustee | 2 | $0 |
Marlene Ford Director | Trustee | 1 | $0 |
Maurice Harris Director | Trustee | 1 | $0 |
J Henderson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,225 |
| 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 | $1,225 |
| Total Program Service Revenue | $895,226 |
| Investment income | $233 |
| 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 | $902,256 |
| 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 | $202,709 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $34,830 |
| Payroll taxes | $20,334 |
| Fees for services: Management | $40,852 |
| Fees for services: Legal | $489 |
| Fees for services: Accounting | $29,464 |
| 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 | $35,977 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $85,141 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $313 |
| Interest | $1,960 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $162,006 |
| Insurance | $27,254 |
| All other expenses | $22,246 |
| Total functional expenses | $1,022,720 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,938 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $84,152 |
| 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 | $14,962 |
| Net Land, buildings, and equipment | $1,946,149 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $694,890 |
| Total assets | $2,747,091 |
| Accounts payable and accrued expenses | $26,000 |
| Grants payable | $0 |
| Deferred revenue | $11,082 |
| 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 | $4,744,400 |
| Unsecured mortgages and notes payable | $134,851 |
| Other liabilities | $91,394 |
| Total liabilities | $5,007,727 |
| Net assets without donor restrictions | -$2,260,636 |
| 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 | $2,747,091 |