Montgomery Housing Partnership Inc
- Assets
- $166.5m
- Revenue
- $28.4m
- Investments
- $0.0
- Employees
- 91
- Location
- Silver Spring, MD
- Founding
- 09/1989
- Data as of
- 12/2022
- EIN
- 52-1631939
Organization Overview
Montgomery Housing Partnership Inc is located in Silver Spring, MD. The organization was established in 1989. 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. As of 12/2022, Montgomery Housing Partnership Inc employed 91 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Montgomery Housing Partnership Inc 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, Montgomery Housing Partnership Inc generated $28.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 22.0% each year . All expenses for the organization totaled $23.2m during the year ending 12/2022. While expenses have increased by 17.5% 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 AFFORDABLE HOUSING FOR LOW-INCOME FAMILIES LOCATED IN MONTGOMERY COUNTY, MARYLAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Rother Chair | OfficerTrustee | 1 | $0 |
Bill Caldwell Vice Chair | OfficerTrustee | 1 | $0 |
Eugene Costa Treasurer | OfficerTrustee | 1 | $0 |
Janet Brown Secretary | OfficerTrustee | 1 | $0 |
Chad Cooley Board Member | Trustee | 1 | $0 |
Sara Daines Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hazen Inc Professional Services | 12/30/22 | $150,279 |
Cohnreznick Llp Accounting Services | 12/30/22 | $127,822 |
Donald Hague Professional Services | 12/30/22 | $122,458 |
Marcum Llp Hr Services | 12/30/22 | $113,545 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $38,651 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,586,401 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,625,052 |
| Total Program Service Revenue | $13,618,438 |
| Investment income | $6,860,859 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$50,902 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,385,531 |
| 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. | $1,006,011 |
| Compensation of current officers, directors, key employees. | $301,803 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,119,831 |
| Pension plan accruals and contributions | $111,870 |
| Other employee benefits | $351,705 |
| Payroll taxes | $355,548 |
| Fees for services: Management | $372,154 |
| Fees for services: Legal | $10,472 |
| Fees for services: Accounting | $158,830 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $554,298 |
| Advertising and promotion | $0 |
| Office expenses | $50,777 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,588,289 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,238,830 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,439,938 |
| Insurance | $403,927 |
| All other expenses | $1,787,870 |
| Total functional expenses | $23,156,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,231,232 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,582,104 |
| 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 | $301,099 |
| Net Land, buildings, and equipment | $99,399,741 |
| Investments—publicly traded securities | $342,431 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,079 |
| Other assets | $48,600,440 |
| Total assets | $166,458,126 |
| Accounts payable and accrued expenses | $5,523,033 |
| Grants payable | $0 |
| Deferred revenue | $100,683 |
| 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 | $128,152,850 |
| Unsecured mortgages and notes payable | $627,500 |
| Other liabilities | $390,595 |
| Total liabilities | $134,794,661 |
| Net assets without donor restrictions | $28,945,340 |
| Net assets with donor restrictions | $2,718,125 |
| 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 | $166,458,126 |