St Marys Housing Corporation
- Assets
- $51.5m
- Revenue
- $14.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Bethesda, MD
- Founding
- 12/1976
- Data as of
- 12/2021
- EIN
- 51-0210514
Organization Overview
St Marys Housing Corporation is located in Bethesda, MD. The organization was established in 1976. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. St Marys Housing Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, St Marys Housing Corporation generated $14.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.4% each year . All expenses for the organization totaled $3.4m during the year ending 12/2021. While expenses have increased by 4.9% 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 ACQUIRE AND MAINTAIN HOUSING FOR LOW AND MODERATE INCOME ELDERLY PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL OF APARTMENTS TO LOW-INCOME ELDERLY AND DISABLED PERSONS WHO MEET REQUIREMENTS ESTABLISHED BY HUD. 246 UNITS.
WINGLER WEST, LLC, A WHOLLY-OWNED SUBSIDIARY, WAS FORMED AS A LIMITED LIABILITY COMPANY UNDER THE LAWS OF THE COMMONWEALTH OF VIRGINIA ON AUGUST 4, 2021, FOR THE PURPOSE OF ACQUIRING AND OPERATING AN APARTMENT COMPLEX OF 132 UNITS FOR OCCUPANCY BY LOW INCOME PERSONS IN ASHBURN, VIRGINIA UNDER THE NAME OF WINGLER HOUSE WEST APARTMENTS.
THE ORGANIZATION HAS PROVIDED OVER $10,000,000 IN DEVELOPMENT FUNDING LOANS TO VARIOUS ORGANIZATIONS TO CONSTRUCT, RENOVATE AND/OR MAINTAIN RENTAL APARTMENTS FOR LOW- AND MODERATE-INCOME PERSONS IN VIRGINIA. THE ORGANIZATION'S FUNDING HAS HELPED DEVELOP 294 LOW INCOME RENTAL HOUSING UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Lennon Pres 1/1-12/31/21 | OfficerTrustee | 0.5 | $0 |
Charles Wilson Trea 1/1-12/31/21 | OfficerTrustee | 0.5 | $0 |
Brant Baber Sec 1/1-12/31/21 | OfficerTrustee | 0.5 | $0 |
Daniel Spychala VP 1/1-12/31/21 | OfficerTrustee | 0.5 | $0 |
Michael Font Dir 1/1-12/31/21 | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Quantum Real Estate Management Llc Property Management | 12/30/21 | $276,888 |
Chesapeake Systems Llc Engineering Services | 12/30/21 | $138,251 |
Schindler Elevator Elevators | 12/30/21 | $183,632 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $6,247,332 |
| Government grants | $0 |
| 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 | $6,247,332 |
| Total Program Service Revenue | $7,282,628 |
| Investment income | $259,258 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,037 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,493,255 |
| 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 | $824,974 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $44,620 |
| Payroll taxes | $103,954 |
| Fees for services: Management | $246,906 |
| Fees for services: Legal | $33,541 |
| Fees for services: Accounting | $23,167 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $160,729 |
| Advertising and promotion | $4,126 |
| Office expenses | $73,223 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $910,587 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $602,279 |
| Insurance | $0 |
| All other expenses | $15,404 |
| Total functional expenses | $3,407,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,110,665 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,544 |
| 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 | $86,011 |
| Net Land, buildings, and equipment | $18,367,841 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $28,785,423 |
| Intangible assets | $0 |
| Other assets | $160,458 |
| Total assets | $51,527,942 |
| Accounts payable and accrued expenses | $149,707 |
| Grants payable | $0 |
| Deferred revenue | $17,743 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $100,838 |
| 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 | $0 |
| Total liabilities | $268,288 |
| Net assets without donor restrictions | $51,259,654 |
| 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 | $51,527,942 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Shared Support South Inc Warrington, PA | $9,549,705 | $20,704,692 |
Viecare Butler Llc Cranberry Township, PA | $15,820,808 | $20,591,438 |
Valley View Haven Inc Belleville, PA | $35,512,325 | $21,268,828 |
Montgomery Housing Partnership Inc Silver Spring, MD | $117,127,971 | $17,924,784 |
Pathways To Housing Pa Philadelphia, PA | $7,362,789 | $17,371,070 |
Reach Riverside Development Corporation Wilmington, DE | $31,775,413 | $42,220,664 |
Enterprise Community Loan Fund Inc Columbia, MD | $332,804,742 | $25,996,753 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |
Alexandria Housing Development Corporation Alexandria, VA | $129,711,642 | $8,689,601 |
National Lutheran Inc Frederick, MD | $5,736,572 | $7,111,650 |
Transitional Housing Corporation Washington, DC | $11,247,775 | $11,673,050 |