Nonprofit · EIN 56-2444917
MOF-PRESERVATION OF AFFORDABILITY CORP
Tax-exempt (reinstated) · CORDOVA, TN 38018
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $7,179,069 | $12,375,201 | -$5,196,132 | $36,456,836 | $40,756,222 | -$4,299,386 |
| December 31, 2023 | 990 | $20,242,196 | $17,154,262 | $3,087,934 | $56,421,307 | $55,524,561 | $896,746 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,064,700
- Program service revenue
- $8,721,779
- Investment income
- -$4,607,410
- Net gain from sales of assets
- -$4,696,048
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $47,701
- Other salaries and wages
- $1,140,993
- Salaries, compensation and benefits (total)
- $1,423,185
- Professional fundraising fees
- $0
- Legal fees
- $428,650
- Accounting fees
- $69,191
- Occupancy
- $52,618
- Travel
- $10,278
- Depreciation
- $2,264,499
- Program services (functional)
- $11,672,527
- Management and general (functional)
- $702,674
Balance sheet and other
- Total assets, start of year
- $56,421,307
- Total assets, end of year
- $36,456,836
- Total liabilities, end of year
- $40,756,222
- Net assets, end of year
- -$4,299,386
- Land, buildings and equipment
- $32,872,623
- Net assets without donor restrictions
- -$4,299,386
- Gross receipts
- $27,902,784
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2004
- State of legal domicile
- TN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RICHARD HAMLET | PRESIDENT Trustee or director, Officer | 25 | $0 | $15,469 | $83,318 |
| PHILIP ROBERTS | DIRECTOR Trustee or director | 1 | $0 | $0 | $18,667 |
| THOMAS STOVALL | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RICHARD HAMLET | PRESIDENT Trustee or director, Officer | 25 | $0 | $397,000 | $65,000 |
| PHILIP ROBERTS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| THOMAS STOVALL | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 65 GERMANTOWN CT STE 409, CORDOVA, TN 38018-4258
- In care of
- % RICHARD L HAMLET
- Principal officer (990 for 2024)
- RICHARD HAMLET, 65 GERMANTOWN CT 409, CORDOVA, TN 38018
- Signed the 990
- RICHARD HAMLET, CEO
- Phone
- (901) 684-5556
- Return prepared by
- LBMC PC
Mission
DEVELOP AND OPERATE LOW-MODERATE INCOME HOUSING NATIONWIDE AS A PART OF THE PARENT'S CHARITABLE OUTREACH/SOCIAL SERVICES PLAN
Program accomplishments
- THE ORGANIZATION OPERATED LOW INCOME MULTIFAMILY HOUSING PROJECTS.Expenses $11,672,527 · grants $47,701 · revenue $4,025,731
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-2444917
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2013
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20)
- Assets (IRS master file)
- $36,456,836
- Income (IRS master file)
- $27,902,784
Revocation and reinstatement
- Exemption revoked
- May 15, 2010
- Posted by the IRS
- June 9, 2011
- Reinstated
- Effective May 15, 2010
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $7,179,069 | $12,375,201 | $36,456,836 | XML |
| 990 | December 2023 | $20,242,196 | $17,154,262 | $56,421,307 | XML |
| 990 | December 2022 | $59,402,793 | $15,704,784 | $52,907,364 | IRS |
| 990 | December 2021 | $61,495,964 | $49,825,036 | $98,746,932 | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-2444917).
Questions about MOF-PRESERVATION OF AFFORDABILITY CORP
- What is the EIN of MOF-PRESERVATION OF AFFORDABILITY CORP?
- The employer identification number (EIN) of MOF-PRESERVATION OF AFFORDABILITY CORP is 56-2444917.
- Is MOF-PRESERVATION OF AFFORDABILITY CORP tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2010 and reinstated it effective May 15, 2010.
- Are donations to MOF-PRESERVATION OF AFFORDABILITY CORP tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does MOF-PRESERVATION OF AFFORDABILITY CORP file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MOF-PRESERVATION OF AFFORDABILITY CORP due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MOF-PRESERVATION OF AFFORDABILITY CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of MOF-PRESERVATION OF AFFORDABILITY CORP?
- The 990 for the year ended December 31, 2024 names RICHARD HAMLET.
- Who are the officers and directors of MOF-PRESERVATION OF AFFORDABILITY CORP?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does MOF-PRESERVATION OF AFFORDABILITY CORP have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $7,179,069, expenses of $12,375,201 and total assets of $36,456,836 at year end.
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