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Marien-Heim Tower FY2022 filing

Tax-deductible

Brooklyn, NY501(c)(3)EIN 11-2355029

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Marien-Heim Tower ("mht") was a senior citizen housing project subsidized by the US department of housing and urban development. In november 2014, mht entered into a contract of sale and nominee agreement with an affiliate for the sale of its beneficial interest in the property. Mht retains legal title to the building solely as a nominee on behalf of its affiliate. Mht also entered into an agreement to be exclusive agent for the management of the premises.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $2.0M a year · 89% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
160 mo
of spending, in cash
Looks good: 159.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$89K
0.3% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
+5% vs prior year
Spent
$242K
To programs
85%
Net assets
$33.5M
By yearFY2020–FY2025
Revenue
$2.1M
FY2022▲ +5%
Revenue by fiscal year
FY2020$2.0M
FY2021$2.0M
FY2022$2.1M
FY2023$2.3M
FY2024$2.5M
FY2025$2.7M
Expenses
$242K
FY2022▲ +10%
Expenses by fiscal year
FY2020$206K
FY2021$220K
FY2022$242K
FY2023$272K
FY2024$258K
FY2025$302K
Net assets
$33.5M
FY2022▲ +6%
Net assets by fiscal year
FY2020$29.9M
FY2021$31.7M
FY2022$33.5M
FY2023$35.6M
FY2024$37.8M
FY2025$40.2M

From the FY2022 Form 990 (year ending March 2022) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1982.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $206K Management & general 15% · $36K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Bonnie Klima Olsen
Vice President
$0Pt VII · Sec A
Beatrice Desapio
Secretary/Treasurer
$0Pt VII · Sec A
Nancy Tutolo
Board Member
$0Pt VII · Sec A
Jane Bahnsen
Board Member
$0Pt VII · Sec A
James Fasolino
Board Member
$0Pt VII · Sec A
Flora Schuster
Board Member
$0Pt VII · Sec A
Patricia Ruiz
Board Member
$0Pt VII · Sec A
See Marien-Heim Tower executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Manages senior housing and collects rent for the property.

Provided by the organization

This section is blank until Marien-Heim Tower claims this page.

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1 program service account for $206K of program spending, described in the organization's own filed words · FY2021.
01

Marien-heim tower is the exclusive managing agent for a 182 housing unit for the elderly in brooklyn, ny, pursuant to section 236 of the national housing act, and regulated by the U.S. Department of housing and urban development as to rent charges and operating methods.

$206Kprogram expense

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By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.1M
Ln 12
Fees for servicesLn 2g$2.0M
Gifts and grantsLn 1h$95K
Other incomeLn 4–11$4K
Money outPt IX
$242K
Ln 25
Programscol B$206K
Managementcol C$36K
Owns and owesPt X
$33.5M
net assets · Ln 32
Cash and savingsLn 1–2$3.2M
Total assetsLn 16$33.6M
LiabilitiesLn 26$89K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$95K
Government grantsLn 1e$77K
Fees for servicesLn 2g$2.0M
Investment incomeLn 3$9
Other incomeLn 4–11$4K
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$3.2M
Cash and savings togetherLn 1–2$3.2M
Other assetsLn 15$106K
Total assetsLn 16$33.6M
LiabilitiesLn 26$89K
Net assetsLn 32$33.5M
OperationsPt I, VI
EmployeesI 57
VolunteersI 60
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$2.9M$3.2M
Total assetsLn 16$31.8M$33.6M
LiabilitiesLn 26$77K$89K
Net assetsLn 32$31.7M$33.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$143K$143K
Pension plan contributionsLn 8$7K$7K
Other employee benefitsLn 9$38K$38K
Payroll taxesLn 10$10K$10K
Accounting feesLn 11c$23K$23K
Office expensesLn 13$2K$2K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$15K$3K$12K
Total functional expensesLn 25$242K$206K$36K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.7M$302K$2.4M$40.2M 990 PDF
FY2024 $2.5M$258K$2.2M$37.8M 990 PDF
FY2023 $2.3M$272K$2.1M$35.6M 990 PDF
FY2022 Viewing $2.1M$242K$1.8M$33.5M 990 PDF
FY2021 $2.0M$220K$1.7M$31.7M 990 PDF
FY2020 $2.0M$206K$1.7M$29.9M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $2,064,795 across 7 lines filed
VIII-1e Government grants$76,944
VIII-1f All other contributions, gifts and grants$17,713
VIII-1h Total contributions, gifts and grants$94,657
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,966,247$1,966,247
VIII-3 Investment incomeExcluded from tax $9$9
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,882$3,882
VIII-12 Total revenueRelated to mission $1,970,129 · Unrelated business $0 · Excluded from tax $9$2,064,795
Part IX · Statement of functional expenses $242,087 across 8 lines filed
IX-7 Other salaries and wagesPrograms $142,550$142,550
IX-8 Pension plan contributionsPrograms $7,373$7,373
IX-9 Other employee benefitsPrograms $38,271$38,271
IX-10 Payroll taxesPrograms $9,931$9,931
IX-11c Accounting feesManagement $23,490$23,490
IX-13 Office expensesPrograms $1,561$1,561
IX-23 InsurancePrograms $3,958$3,958
IX-24 Other expenses (24a–d)Programs $2,570 · Management $12,383$14,953
IX-25 Total functional expensesPrograms $206,214 · Management $35,873 · Fundraising $0$242,087
Part X · Balance sheet $33,587,103 assets, 10 lines filed
Asset lines not itemized here account for $30,224,832; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $2,860,865$3,218,433
X-3 Pledges and grants receivableStart of year $22,556$22,232
X-9 Prepaid expenses and deferred chargesStart of year $10,868$15,281
X-15 Other assetsStart of year $95,590$106,325
X-16 Total assetsStart of year $31,752,147$33,587,103
X-17 Accounts payable and accrued expensesStart of year $76,776$89,024
X-26 Total liabilitiesStart of year $76,776$89,024
X-27 Net assets without donor restrictionsStart of year $31,675,371$33,498,079
X-32 Total net assets or fund balancesStart of year $31,675,371$33,498,079
X-33 Total liabilities and net assetsStart of year $31,752,147$33,587,103
Part XI · Reconciliation of net assets $33,498,079 net assets at year end
XI-1 Total revenue$2,064,795
XI-2 Total expenses$242,087
XI-3 Revenue less expenses$1,822,708
XI-4 Net assets at start of year$31,675,371
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$33,498,079

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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