MIRACLEPLACE PASCO TAMPA INITIATIVE INC

EIN: 465676552 501(c)(3)

TAMPA, FL

Total Revenue
N/A
Total Expenses
$31,625
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
FL
Principal Officer
STACY WAGNER
Phone
8132091000
Tax Period
2022-07-01 to 2023-06-30

Mission

TO ACT AS A SUPPORTING ORGANIZATION OF METROPOLITAN MINISTRIES, INC., A FLORIDA NOT-FOR-PROFIT CORPORATION.

Program Service Accomplishments

Program 1
Expenses: $31,625

MIRACLEPLACE PASCO-TAMPA INITIATIVE, INC. SUPPORTS METROPOLITAN MINISTRIES BY USE OF FEDERAL AND STATE NEW MARKETS TAX CREDITS FOR DEVELOPMENT AND RENOVATION OF QUALIFIED LOW-INCOME COMMUNITY...

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MIRACLEPLACE PASCO-TAMPA INITIATIVE, INC. SUPPORTS METROPOLITAN MINISTRIES BY USE OF FEDERAL AND STATE NEW MARKETS TAX CREDITS FOR DEVELOPMENT AND RENOVATION OF QUALIFIED LOW-INCOME COMMUNITY INVESTMENTS. MIRACLEPLACE PASCO-TAMPA INITIATIVE, INC. COMPLETED A NEW MARKETS TAX CREDITS TRANSACTION IN 2015 TO PROVIDE FUNDS TO FINANCE THE EXPANSION AND DEVELOPMENT IN PASCO, FLORIDA OF A NEW TRANSITIONAL HOUSING FACILITY FOR THE HOMELESS AND THOSE AT RISK OF BECOMING HOMELESS." IN FISCAL 2021 METROPOLITAN MINISTRIES SUCCCESSFULLY COMPLETED THE UNWIND OF THE NEW MARKETS TAX CREDIT TRANSACTION LEADING TO THE CREATION OF MIRACLEPLACE PASCO-TAMPA INITIATIVE, INC. THE GENEROUS PARTNERSHIP OF WHITNEY HANCOCK BANK, CHASE BANK, AND THE FLORIDA COMMUNITY LOAN FUND SUPPORTED THE CONSTRUCTION OF THE RESIDENTIAL FACILITY PROVIDING SHELTER AND WRAP AROUND SERVICES TO OVER 50 FAMILES PER YEAR AND HOUSING COUNSELING PROGRAMS. THE EXERCISE OF PUT OPTIONS TO UNWIND THE TRANSACTION RESULTED IN ELIMINATION BY FORGIVENESS OF OVER $15 MILLION IN LIABILITY AND NON-CASH NET PROCEEDS OF $6 MILLION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $0

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $31,625
Other Expenses $31,625
TOTAL EXPENSES $31,625

Year-over-Year Comparison

2022 2021 Change
Revenue N/A N/A N/A
Expenses $31,625 $379,501 -0.9%
Net Income N/A $-379,501 N/A
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
1
Employees
N/A
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$365,086
Total Directors
3
$365,086
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TIM MARKS PRESIDENT 1.00
Officer Director
$0 $16,119 $210,264
CHRIS CHRISTENBERRY SECRETARY 1.00
Officer Director
$0 $0 $0
STACY WAGNER TREASURER 1.00
Officer Director
$0 $20,226 $154,822
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2023 No data $31,625 No data No data
2022 No data $379,501 $12,937,133 No data
2021 $1,555,503 $716,329 $13,316,634 $839,174
2020 $128,349 $723,365 $13,782,958 $-595,016
2019 $128,953 $723,128 $14,298,476 $-594,175
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