2023-11-15T14:34:34-05:00 2022-12-31 631057374 MOSTELLAR & SHREVE LLP 23 MIDTOWN PARK W MOBILE AL 36606 990 2022-01-01 631088214 MLK AVENUE REDEVELOPMENT CORP MLKA 2514323073 PO BOX 2204 MOBILE AL 366522204 DAPHNE PIERCE EXECUTIVE DIRECTOR 2514323073 2023-11-15 true DAPHNE PIERCE XXX-XX-XXXX true LEWIS T SHREVE CPA P01296889 2514760243 2023-11-15 X 2022 2023-04-26 12:10:37Z DAPHNE PIERCE 29911 false X N/A X 1993 AL COMMUNITY REDEVELOPMENT 4 4 1 4 0 39950 0 259319 29911 -41343 0 0 257926 29911 0 0 96885 96885 0 0 488641 71920 585526 168805 -327600 -138894 1141480 1037064 16458 50935 1125022 986129 COMMUNITY REDEVELOPMENT false false 109958 29911 MLK BUYS VACANT LOTS AND DILAPIDATED STRUCTURES, WHICH ARE DEMOLISHED, AND CONSTRUCTS NEW AFFORDABLE HOMES FOR SALE TO QUALIFYING LOW TO MODERATE INCOME PERSONS UNDER THE CHDO GRANT PROGRAM. NO HOMES WERE SOLD DURING THE YEAR. MLK ALSO FACILITATES A LEASE PURCHASE PROGRAM WHERE APPLICANTS CAN RENT HOMES RENOVATED BY THE ORGANIZATION TO ESTABLISH CREDIT TO EVENTUALLY PURCHASE THE HOME. MLK PROVIDES OTHER PROGRAMS ON AN AS NEEDED BASIS. THIS IS DETERMINED BY THE BOARD AND EXECUTIVE DIRECTOR. THESE PROGRAMS WORK IN CONJUNCTION WITH THE AFFORDABLE HOMES PROGRAM IN AN EFFORT TO ENRICH THE MLK COMMUNITY AND ITS RESIDENTS. AT TIMES, MLK PARTICIPATES IN A PROGRAM NAMED FINANCIAL EDUCATION WHICH TARGETS INDIVIDUALS AND TEACHES THEM BASIC FINANCIAL MANAGEMENT TECHNIQUES. THIS PROGRAM DID NOT TAKE PLACE IN THE CURRENT YEAR. 109958 true false false false false false false false false false true false false true true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 5 0 false 1 true false false false false false false false false X 4 4 false false false false false false false true true false false false false false false true false false X MOSTELLAR & SHREVE LLP 2514760243 23 MIDTOWN PARK DR W MOBILE AL 36606 DAPHNE PIERCE EXECUTIVE DI 40.00 X 90000 0 0 CARLOS GANT SECRETARY/TR X 0 0 0 CHRISTOPHER LEE ADVISORY BRD X 0 0 0 DARRELL RANDLE CHAIRMAN X 0 0 0 SAMANTHA SANDERS VICE CHAIRMA X 0 0 0 90000 false false false RENTAL INCOME 26970 26970 MANAGEMENT FEE INCOME 2496 2496 CREDIT REPORT FEES 445 445 29911 29911 29911 90000 54000 36000 6885 4131 2754 19020 11412 7608 4377 2626 1751 15952 10912 5040 3925 2355 1570 89 53 36 428 257 171 16175 12768 3407 REPAIRS & MAINTENANCE 6669 6669 PROPERTY MANAGEMENT FEES 2496 2496 BANK CHARGES 1275 765 510 RICHARDSON HEIGHTS COMMON 645 645 869 869 168805 109958 58847 0 437781 237916 6423 5566 1285 857 702414 798291 1141480 1037064 13658 7485 2800 3450 40000 16458 50935 X 1120196 981303 4826 4826 1125022 986129 1141480 1037064 X -138894 1 X true true true false X 338372 88155 20500 39950 486977 433312 410910 710736 259319 29911 1844188 771684 499065 731236 299269 29911 2331165 192251 179978 574188 190000 1136417 192251 179978 574188 190000 1136417 1194748 3239 2057 5296 3239 2057 5296 774923 501122 731236 299269 29911 2336461 0.51130 0.56220 0.00000 0.00000 X SUPPLEMENTAL INFORMATION MLK ALSO SHOWED (1,086,867) WHICH IS THE LOSS FROM THE SALE OF A PIECE OF PROPERTY THAT THE ORGANIZATION OWNED. THE LOSS FROM THIS SALE IS SHOWN ON PART VIII OF THE FORM 990. 6423 5566 857 857 HOMES UNDER LEASE PURCHASE AGREEMENT 720889 LOTS UNDER CONSTRUCTION 77402 798291 LINE OF CREDIT 40000 40000 29042 29042 869 869 29911 167936 167936 869 869 168805 SCHEDULE D, PAGE 4, PART XI, LINE 4B COST OF HOMES SOLD 582 CREDIT REPORT 287 SCHEDULE D, PAGE 4, PART XII, LINE 4B COST OF HOMES SOLD 582 CREDIT REPORT 287 FORM 990, PAGE 6, PART VI, LINE 11B THE TAX RETURN IS REVIEWED BY THE EXECUTIVE DIRECTOR BEFORE FILING. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE DIRECTOR'S SALARY IS BASED ON A CEO'S SALARY COMPARABLE TO A BUSINESS OF LIKE SIZE. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9 ROUNDING ADJUSTMENT 1