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Mgma Realty Corp FY2021 filing

Not tax-deductible

Englewood, COMutual-benefit / member-servingEIN 84-1119908Revenue $616K in FY2021

On file with the IRSmgma.com104 Inverness Ter E, 80112-5313 · Englewood, COTax-exempt since Nov 1989

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Holds title to real property and collects rent from its exempt parent, Mgma-acmpe.

Mission: Form 990 Part I, line 1

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
4 of 6
filings with a surplus
Average surplus $0 a year · under 1% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.2M
124% of total assets
Concern: liabilities are 124% of assets; over 80%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$616K
-4% vs prior year
Spent
$616K
Net assets
−$241K
By yearFY2020–FY2025
Revenue
$616K
FY2021▼ -4%
Tap a bar for its year
Revenue by fiscal year
FY2020$640K
FY2021$616K
FY2022$691K
FY2023$714K
FY2024$804K
FY2025$807K
Expenses
$616K
FY2021▼ -4%
Tap a bar for its year
Expenses by fiscal year
FY2020$640K
FY2021$616K
FY2022$691K
FY2023$714K
FY2024$804K
FY2025$807K
Net assets
−$241K
FY2021>-0.01%
Tap a bar for its year
Net assets by fiscal year
FY2020−$241K
FY2021−$241K
FY2022−$241K
FY2023−$241K
FY2024−$241K
FY2025−$241K

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 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 Nov 1989.

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

Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
William R Hambsh
Board Chair
$0Pt VII · Sec A
Karen Marcelo
Vice Chair
$0Pt VII · Sec A
Todd D Grages
Past Board Chair
$0Pt VII · Sec A
Jeffrey W Smith
Finance/Audit Chair
$0Pt VII · Sec A
Eric D Crockett
Finance/Audit Vice Chair
$0Pt VII · Sec A
See Mgma Realty Corp 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

Owns property and collects rent from its parent organization.

Questions for Mgma Realty Corp

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Mgma realty corp holds title to the real property and collects rent from its exempt parent, mgma-acmpe.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$616K
Ln 12
Fees for servicesLn 2g$616K
Money outPt IX
$616K
Ln 25
Owns and owesPt X
−$241K
net assets · Ln 32
Cash and savingsLn 1–2$171K
Total assetsLn 16$1.0M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$616K
Total revenueLn 12$616K
Assets in detailPt X, end of year
CashLn 1$171K
Cash and savings togetherLn 1–2$171K
Land, buildings, equipmentLn 10c$830K
Total assetsLn 16$1.0M
LiabilitiesLn 26$1.2M
Net assetsLn 32−$241K
OperationsPt I, VI
EmployeesI 50
VolunteersI 619
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$504K$171K
Land, buildings, equipmentLn 10c$837K$830K
Total assetsLn 16$1.3M$1.0M
LiabilitiesLn 26$1.6M$1.2M
Net assetsLn 32−$241K−$241K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$201K
Pension plan contributionsLn 8$27K
Other employee benefitsLn 9$253
Payroll taxesLn 10$15K
Accounting feesLn 11c$2K
Office expensesLn 13$24K
OccupancyLn 16$253K
TravelLn 17$412
Depreciation, depletion and amortizationLn 22$7K
Other expenses (24a–d)Ln 24$86K
Total functional expensesLn 25$616K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $807K$807K$0−$241K 990 PDF
FY2024 $804K$804K$1−$241K 990 PDF
FY2023 $714K$714K−$1−$241K 990 PDF
FY2022 $691K$691K$0−$241K 990 PDF
FY2021 Viewing $616K$616K−$1−$241K 990 PDF
FY2020 $640K$640K$2−$241K 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 FY2021 990 (6 parts)
Part I · Summary $615,669 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $639,679$615,669
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $639,679$615,669
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 $208,723$243,398
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $430,954$372,272
I-18 Total expensesPrior year $639,677$615,670
I-19 Revenue less expensesPrior year $2−$1
Part VI · Governance 13 of 13 board members independent, 1 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $615,669 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $615,669$615,669
VIII-12 Total revenueRelated to mission $615,669 · Unrelated business $0 · Excluded from tax $0$615,669
Part IX · Statement of functional expenses $615,670 across 10 lines filed
IX-7 Other salaries and wages$201,228
IX-8 Pension plan contributions$27,015
IX-9 Other employee benefits$253
IX-10 Payroll taxes$14,902
IX-11c Accounting fees$2,100
IX-13 Office expenses$23,565
IX-16 Occupancy$253,495
IX-17 Travel$412
IX-22 Depreciation, depletion and amortization$6,791
IX-24 Other expenses (24a–d)$85,909
IX-25 Total functional expenses$615,670
Part X · Balance sheet $1,001,231 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $503,804$171,370
X-10c Land, buildings and equipment, netStart of year $836,653$829,861
X-16 Total assetsStart of year $1,340,457$1,001,231
X-17 Accounts payable and accrued expensesStart of year $77,703$79,163
X-25 Other liabilitiesStart of year $1,503,804$1,163,119
X-26 Total liabilitiesStart of year $1,581,507$1,242,282
X-27 Net assets without donor restrictionsStart of year −$241,050−$241,051
X-32 Total net assets or fund balancesStart of year −$241,050−$241,051
X-33 Total liabilities and net assetsStart of year $1,340,457$1,001,231
Part XI · Reconciliation of net assets −$241,051 net assets at year end
XI-1 Total revenue$615,669
XI-2 Total expenses$615,670
XI-3 Revenue less expenses−$1
XI-4 Net assets at start of year−$241,050
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$241,051

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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