Multi-Ethnic Development
- Assets
- $0.0
- Revenue
- $73.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Salt Lake City, UT
- Founding
- Data as of
- 06/2016
- EIN
- 94-2389209
Organization Overview
Multi-Ethnic Development is located in Salt Lake City, UT. Multi-Ethnic Development is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2016
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS ONE OF SALT LAKE CITY'S OLDEST NONPROFIT ORGANIZATIONS INVOLVED IN THE DEVELOPMENT, OWNERSHIP, AND MANAGEMENT OF AFFORDABLE HOUSING. THE MISSION OF THE ORGANIZATION IS TO SERVE THE COMMUNITY BY DEVELOPING, OWNING, AND MANAGING CLEAN, SAFE, AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME POPULATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MULTI-ETHNIC DEVELOPMENT CORPORATIONS (MEDC) BOARD AND OUTSIDE CONSULTANTS CONTINUED AND FINALIZED THE ORGANIZAITON'S DISSOLUTION DURING THE FISCAL YEAR. RIVERVIEW SENIOR HOUSING WAS WHOLLY OWNED BY MEDC AND WAS TRANSFERRED DURING THE DISSOLUTION PROCESS TO A UTAH NONPROFIT HOUSING CORPORATION (UNPHC). UNPHC HAS EXCEPTIONAL AFFORDABLE HOUSING KNOWLEDGE, A SIGNIFICANT FINANCIAL BALANCE SHEET, AND A REPUTATION THAT PROVIDES A COMPETITIVE ADVANTAGE OVER SMALLER AND LESS KNOWN ORGANIZATIONS. IN ADDITION, MEDC TRANSFERRED ITS REMAINING CASH BALANCE TO UNPHC. THIS WAS THE FINAL ASSET FOR THE DISSOLUTION. ALL EXPENSES HAVE BEEN PAID.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paula Marsh President | Trustee | 0.25 | $0 |
Marci Milligan Vice Preside | Trustee | 3 | $0 |
Shellie Barrus Treasurer | Trustee | 0.25 | $0 |
Paula Carl Secretary | Trustee | 0.25 | $0 |
Nathan Johnson Board Member | Trustee | 0.25 | $0 |
Shawn Teigen Board Member | Trustee | 0.25 | $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 | $47,451 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,427 |
| 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 | $73,878 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $34,036 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $19,974 |
| Fees for services: Legal | $4,643 |
| Fees for services: Accounting | $4,158 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $315 |
| Advertising and promotion | $0 |
| Office expenses | $1,137 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $334 |
| Insurance | $3,382 |
| All other expenses | $16 |
| Total functional expenses | $102,417 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |