MIDTOWN HOMES INC

EIN: 680360646 501(c)(3) Housing & Shelter

SAN RAFAEL, CA

Total Revenue
$1,221,136
Total Expenses
$1,733,328
Total Assets
$246,956
Net Assets
$-26,051,608
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
CA
Principal Officer
WELTON JORDAN
Phone
4152581800
Tax Period
2024-01-01 to 2024-12-31

MIDTOWN HOMES INC, founded in 1995, is a community nonprofit in the Housing & Shelter sector that reported $1.2M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $1.7M exceeded revenue, resulting in a 42% operating deficit.

Mission

TO PERFORM THE CHARITABLE FUNCTIONS OF AND CARRY OUT THE CHARITABLE PURPOSES OF EAH INC., A RELATED CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION.

Program Service Accomplishments

Program 1
Expenses: $1,733,321 Revenue: $1,211,667

THE CORPORATION SERVES AS A GENERAL PARTNER FOR TWO LIMITED PARTNERSHIPS WHICH PROVIDE 130 UNITS OF LOW-INCOME HOUSING FOR FAMILIES AND ELDERLY IN SAN JOSE, CALIFORNIA AND 42 UNITS OF LOW-INCOME...

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THE CORPORATION SERVES AS A GENERAL PARTNER FOR TWO LIMITED PARTNERSHIPS WHICH PROVIDE 130 UNITS OF LOW-INCOME HOUSING FOR FAMILIES AND ELDERLY IN SAN JOSE, CALIFORNIA AND 42 UNITS OF LOW-INCOME HOUSING IN SANTA CLARA, CALIFORNIA. THE CORPORATION IS ALSO A MEMBER OF TWO LIMITED LIABILITY COMPANIES WHICH SERVE AS THE GENERAL PARNTERS FOR TWO LIMITED PARTNERSHIPS THAT PROVIDE 230 UNITS OF LOW-INCOME HOUSING FOR FAMILIES AND ELDERLY IN SAN JOSE, CALIFORNIA.

Program 2
Expenses: $7

THE CORPORATION PROVIDED GENERAL SUPPORT TO EAH INC., A RELATED CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION, IN FURTHERANCE OF EAH INC.'S EXEMPT PURPOSE OF PROVIDING AFFORDABLE HOUSING TO...

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THE CORPORATION PROVIDED GENERAL SUPPORT TO EAH INC., A RELATED CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION, IN FURTHERANCE OF EAH INC.'S EXEMPT PURPOSE OF PROVIDING AFFORDABLE HOUSING TO ELDERLY, VERY LOW, LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $3,807
Program Service Revenue $1,211,667
Investment Income $5,662
Other Revenue $0
TOTAL REVENUE $1,221,136

Expense Breakdown

Grants Paid $7
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,733,328
Other Expenses $1,733,321
TOTAL EXPENSES $1,733,328

Year-over-Year Comparison

2024 2023 Change
Revenue $1,221,136 $1,071,144 +0.1%
Expenses $1,733,328 $1,557,754 +0.1%
Net Income $-512,192 $-486,610 +0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
N/A
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
$1,520,687
Total Directors
3
$1,520,687
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATHERINE FLEMING SECRETARY 0.10
Officer Director
$0 $46,064 $354,634
WELTON JORDAN PRESIDENT 0.10
Officer Director
$0 $34,547 $492,640
LAURA HALL VICE PRESIDENT/TREASURER 0.10
Officer Director
$0 $47,351 $673,413
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
2024 $1,221,136 $1,733,328 $246,956 $-512,192
2023 $1,071,144 $1,557,754 $151,671 $-486,610
2022 $997,689 $1,665,888 $108,308 $-668,199
2021 $978,731 $1,443,880 $148,862 $-465,149
2020 $939,530 $1,748,670 $152,436 $-809,140
2019 $665,611 $1,535,255 $178,916 $-869,644
2018 $596,643 $1,689,230 $272,538 $-1,092,587
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