Mbcdc Fernwood Apartments Inc
- Assets
- $1.3m
- Revenue
- $193.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Miami Beach, FL
- Founding
- 04/1999
- Data as of
- 09/2021
- EIN
- 65-0899456
Organization Overview
Mbcdc Fernwood Apartments Inc is located in Miami Beach, FL. The organization was established in 1999. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Mbcdc Fernwood 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 09/2021, Mbcdc Fernwood Apartments Inc generated $193.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $246.9k during the year ending 09/2021. 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
MBCDC FERNWOOD APARTMENTS, INC. IS A NON PROFIT ORGANIZATION INCORPORATED UNDER THE LAWS AND STATUTES OF THE STATE OF FLORIDA FOR THE PURPOSE OF DEVELOPING, OWNING AND OPERATING A HUD 811 PROJECT, WHICH PROVIDES LOW INCOME DISABLED PERSONS AND PERSONS LIVING WITH AIDS WITH HOUSING FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING FACILITIES TO THE DISABLED PERSONS LIVING WITH HIV/AIDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ahmed Martin New Executive Director | OfficerTrustee | 2 | $0 |
Monica Matteo-Salinas Chairman | Officer | 2 | $0 |
Jeff Feldman Vice Chair | Officer | 2 | $0 |
Juanita Franklin Secretary | Officer | 2 | $0 |
Michael Hammon Director | Trustee | 2 | $0 |
Chris Shear Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $122,561 |
| 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 | $122,561 |
| Total Program Service Revenue | $68,629 |
| Investment income | $170 |
| 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 | $193,475 |
| 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 | $14,402 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,373 |
| Payroll taxes | $1,038 |
| Fees for services: Management | $11,270 |
| Fees for services: Legal | $11 |
| Fees for services: Accounting | $13,424 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25 |
| Office expenses | $7,564 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $198 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $77,302 |
| Insurance | $21,655 |
| All other expenses | $7,308 |
| Total functional expenses | $246,942 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,232 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $686 |
| Net Land, buildings, and equipment | $1,112,462 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $206,175 |
| Total assets | $1,338,555 |
| Accounts payable and accrued expenses | $8,992 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,499 |
| Total liabilities | $43,491 |
| Net assets without donor restrictions | -$483,136 |
| Net assets with donor restrictions | $1,778,200 |
| 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 | $1,338,555 |
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