Mdbm-Drake Senior Housing Corporation
- Assets
- $1.8m
- Revenue
- $981.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Farmington Hills, MI
- Founding
- 05/2008
- Data as of
- 12/2021
- EIN
- 36-2296657
Organization Overview
Mdbm-Drake Senior Housing Corporation is located in Farmington Hills, MI. The organization was established in 2008. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mdbm-Drake Senior Housing 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 12/2021, Mdbm-Drake Senior Housing Corporation generated $981.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. 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 PROVIDE LOW INCOME HOUSING TO THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ESTABLISHED AND OPERATED HOMES IN SOUTHEASTERN MICHIGAN WHERE THE AGED MAY BE CARED FOR IN COMFORTABLE SURROUNDINGS AND AMID COMPANIONSHIP AND AN ENVIRONMENT OF CHRISTIAN PEOPLE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Scott Treasurer | OfficerTrustee | 0.25 | $0 |
Ben Okwumabua Vice President | OfficerTrustee | 0.25 | $0 |
Elizabeth Goleski Ceo/president | OfficerTrustee | 0 | $0 |
Sridevi Nistala Secretary/corporate Dir. Of Finance | OfficerTrustee | 10 | $0 |
Ryan Goleski Development Director | Trustee | 0 | $0 |
Jack Linton Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $621,609 |
| 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 | $621,609 |
| Total Program Service Revenue | $356,979 |
| Investment income | $186 |
| 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 | $981,471 |
| 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. | $12,867 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $218,094 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,053 |
| Payroll taxes | $16,947 |
| Fees for services: Management | $52,925 |
| 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 | $50,412 |
| Advertising and promotion | $0 |
| Office expenses | $5,600 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $175,937 |
| Travel | $1,909 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $237,261 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $166,121 |
| Insurance | $92,234 |
| All other expenses | $0 |
| Total functional expenses | $1,079,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $273,417 |
| Savings and temporary cash investments | $514,393 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,528 |
| 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 | $11,939 |
| Net Land, buildings, and equipment | $917,920 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $110,988 |
| Other assets | $0 |
| Total assets | $1,832,185 |
| Accounts payable and accrued expenses | $41,976 |
| Grants payable | $0 |
| Deferred revenue | $16,310 |
| 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 | $3,608,811 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $128,381 |
| Total liabilities | $3,795,478 |
| Net assets without donor restrictions | -$1,963,293 |
| 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 | $1,832,185 |
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