Marion Unity Apartments Inc
- Assets
- $3.0m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Morgantown, WV
- Founding
- 02/1988
- Data as of
- 06/2024
- EIN
- 55-0678214
Organization Overview
Marion Unity Apartments Inc is located in Morgantown, WV. The organization was established in 1988. 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. Marion Unity Apartments 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 06/2024, Marion Unity Apartments Inc generated $1.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $960.5k during the year ending 06/2024. While expenses have increased by 0.9% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUBSIDIZED RENTAL HOUSING TO LOW-INCOME ELDERLY INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARION UNITY APARTMENTS, INC. OWNS AND OPERATES A 98 UNIT APARTMENT COMPLEX FOR LOW-INCOME ELDERLY INDIVIDUALS. ALL EXPENSES ARE ATTRIBUTED TO THE FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua D Sword President | OfficerTrustee | 1 | $0 |
Andy Walters Secretary Tr | OfficerTrustee | 1 | $0 |
Claudette Karr Vice Preside | OfficerTrustee | 1 | $0 |
Fred Albert Executive Bo | Trustee | 0.05 | $0 |
Heather Anderson Executive Bo | Trustee | 0.05 | $0 |
Robert Brown Executive Bo | Trustee | 0.05 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| 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 | $0 |
| Total Program Service Revenue | $1,006,825 |
| Investment income | $3,419 |
| 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 | $1,013,705 |
| 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 | $171,831 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $67,596 |
| Payroll taxes | $15,960 |
| Fees for services: Management | $64,943 |
| Fees for services: Legal | $520 |
| Fees for services: Accounting | $28,720 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $989 |
| Office expenses | $15,644 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $198,939 |
| Travel | $1,684 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $154,182 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $196,058 |
| Insurance | $24,583 |
| All other expenses | $902 |
| Total functional expenses | $960,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $631,711 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,185 |
| 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 | $18,263 |
| Net Land, buildings, and equipment | $1,710,923 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $610,983 |
| Total assets | $2,995,065 |
| Accounts payable and accrued expenses | $46,861 |
| Grants payable | $0 |
| Deferred revenue | $2,465 |
| 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 | $4,088,074 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $31,926 |
| Total liabilities | $4,169,326 |
| Net assets without donor restrictions | -$1,174,261 |
| 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 | $2,995,065 |