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Mt Moriah Manor INC FY2020 filing

Lexington, NC501(c)(3)EIN 56-1687491Revenue $692K in FY2020

On file with the IRSF202 Robert Floyd Drive Box 30, 27292-0000 · Lexington, NCTax-exempt since Oct 1974Publicly supported — 509(a)(2)

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Mt. Moriah Manor was organized to construct, own and operate a 45 unit apartment community in lexington, north carolina, known as Mt. Moriah Manor. IT was organized pursuant to section 202 of the national housing act as amended and has entered into the standard fha regulatory agreements, which govern the operation of the community, with the federal housing administration section of hud. A housing assistance payment contract (hap contract) provides rent assistance for low income families (or persons) as provided by the section 8 program of the national housing act. On december 28, 2015, the corporation merged the community with kidron korner, a related tax-exempt 30-unit apartment community located in lexington, north carolina, and is operating them both under one corporation. During the year ended december 31, 2015 kidron korner's assets, liabilities and net assets were merged with the corporation's assets.

78¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2020 · 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
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $3K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.2M
119% of total assets
Concern: liabilities are 119% of assets; over 80%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$692K
Spent
$656K
To programs
78%
Net assets
−$363K
By yearFY2020–FY2024
Revenue
$692K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$692K
FY2021$684K
FY2022$699K
FY2023$717K
FY2024$750K
Expenses
$656K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$656K
FY2021$646K
FY2022$703K
FY2023$759K
FY2024$763K
Net assets
−$363K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$363K
FY2021−$325K
FY2022−$329K
FY2023−$371K
FY2024−$384K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1974.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $514K Management & general 22% · $142K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
Randall Stamey
Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
Dee Bradford
Co-Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
John Boyd
Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Mt Moriah Manor INC 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

Provides affordable housing and rent assistance for low-income families.

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1 program · $514K · in their own filed words · FY2020
01

MT. Moriah manor was organized to construct, own and operate a 45 unit apartment community in lexington, north carolina, known as MT. Moriah manor. It was organized pursuant to section 202 of the national housing act as amended and has entered into the standard fha regulartory agreements, which govern the operation of the community, with…

$514Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$692K
Ln 12
Gifts and grantsLn 1h$420K
Fees for servicesLn 2g$266K
Other incomeLn 4–11$5K
Money outPt IX
$656K
Ln 25
Programscol B$514K
Managementcol C$142K
Owns and owesPt X
−$363K
net assets · Ln 32
Cash and savingsLn 1–2$41K
Total assetsLn 16$1.9M
LiabilitiesLn 26$2.2M
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$420K
Government grantsLn 1e$420K
Fees for servicesLn 2g$266K
Investment incomeLn 3$203
Other incomeLn 4–11$5K
Gains on assetsLn 7−$222
Total revenueLn 12$692K
Assets in detailPt X, end of year
CashLn 1$41K
Cash and savings togetherLn 1–2$41K
InvestmentsLn 11–13$48K
Land, buildings, equipmentLn 10c$1.2M
Other assetsLn 15$471K
Total assetsLn 16$1.9M
LiabilitiesLn 26$2.2M
Net assetsLn 32−$363K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$43K$41K
InvestmentsLn 11–13$17K$48K
Land, buildings, equipmentLn 10c$1.2M$1.2M
Total assetsLn 16$1.9M$1.9M
LiabilitiesLn 26$2.3M$2.2M
Net assetsLn 32−$398K−$363K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$44K$44K
Accounting feesLn 11c$5K$5K
Advertising and promotionLn 12$54$54
Office expensesLn 13$11K$11K
Information technologyLn 14$2K$2K
OccupancyLn 16$428K$428K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$122$122
Depreciation, depletion and amortizationLn 22$83K$83K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$80K$3K$77K
Total functional expensesLn 25$656K$514K$142K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $750K$763K−$13K−$384K 990 PDF
FY2023 $717K$759K−$42K−$371K 990 PDF
FY2022 $699K$703K−$4K−$329K 990 PDF
FY2021 $684K$646K$38K−$325K 990 PDF
FY2020 Viewing $692K$656K$35K−$363K 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 FY2020 990 (6 parts)
Part I · Summary $691,973 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $395,808$420,241
I-9 Program service revenuePrior year $259,808$266,294
I-10 Investment incomePrior year −$1,685−$19
I-11 Other revenuePrior year $9,241$5,457
I-12 Total revenuePrior year $663,172$691,973
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $632,751$656,495
I-18 Total expensesPrior year $632,751$656,495
I-19 Revenue less expensesPrior year $30,421$35,478
Part VI · Governance 11 of 11 board members independent, 3 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $691,973 across 7 lines filed
VIII-1e Government grants$420,241
VIII-1h Total contributions, gifts and grants$420,241
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $266,294$266,294
VIII-3 Investment incomeExcluded from tax $203$203
VIII-7 Net gain or loss on sales of assetsRelated to mission −$222−$222
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $5,457$5,457
VIII-12 Total revenueRelated to mission $266,072 · Unrelated business $0 · Excluded from tax $5,660$691,973
Part IX · Statement of functional expenses $656,495 across 11 lines filed
IX-11a Management feesManagement $43,931$43,931
IX-11c Accounting feesManagement $5,192$5,192
IX-12 Advertising and promotionManagement $54$54
IX-13 Office expensesManagement $10,711$10,711
IX-14 Information technologyManagement $1,832$1,832
IX-16 OccupancyPrograms $427,847$427,847
IX-17 TravelManagement $1,204$1,204
IX-19 Conferences, conventions and meetingsManagement $122$122
IX-22 Depreciation, depletion and amortizationPrograms $83,350$83,350
IX-23 InsuranceManagement $2,506$2,506
IX-24 Other expenses (24a–d)Programs $2,971 · Management $76,775$79,746
IX-25 Total functional expensesPrograms $514,168 · Management $142,327 · Fundraising $0$656,495
Part X · Balance sheet $1,875,149 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $43,264$40,521
X-4 Accounts receivableStart of year $2,928$21,871
X-9 Prepaid expenses and deferred chargesStart of year $10,079$10,473
X-10c Land, buildings and equipment, netStart of year $1,225,186$1,174,614
X-13 Program-related investmentsStart of year $17,198$47,717
X-14 Intangible assetsStart of year $113,407$109,059
X-15 Other assetsStart of year $467,432$470,894
X-16 Total assetsStart of year $1,879,494$1,875,149
X-17 Accounts payable and accrued expensesStart of year $26,419$19,197
X-19 Deferred revenueStart of year $994$948
X-25 Other liabilitiesStart of year $50,066$69,562
X-26 Total liabilitiesStart of year $2,277,676$2,237,853
X-27 Net assets without donor restrictionsStart of year −$398,182−$362,704
X-32 Total net assets or fund balancesStart of year −$398,182−$362,704
X-33 Total liabilities and net assetsStart of year $1,879,494$1,875,149
Part XI · Reconciliation of net assets −$362,704 net assets at year end
XI-1 Total revenue$691,973
XI-2 Total expenses$656,495
XI-3 Revenue less expenses$35,478
XI-4 Net assets at start of year−$398,182
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$362,704

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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