2024-02-19T07:44:01-07:00 2023-12-31 990 2023-01-01 237117119 MORAVIAN DEVELOPEMENT CORP MORA 6108661841 561 East Market Street Bethlehem PA 18018 Daniel Soos Chief Financial Officer 6108661841 2024-02-12 Daniel Soos 999009999 1 1 11 0 AAL2 X 2023 2023-04-26 12:10:37Z Daniel Soos 561 East Market Street Bethlehem PA 18018 4432741 0 X X 1971 PA The Moravian Development Corporation's mission is to plan, construct, rehabilitate, improve, maintain, operate, and rent housing for lower income families, the elderly and the disabled on a nonprofit basis. 6 6 16 6 0 0 0 0 1325668 1210982 69521 134863 -1864339 24887 -469150 1370732 150000 60000 0 0 0 0 0 0 0 484657 509549 634657 569549 -1103807 801183 14000641 14701515 372663 272354 13627978 14429161 The Moravian Development Corporation's mission is to plan, construct, rehabilitate, improve, maintain, operate, and rent housing for lower income families, the elderly and handicapped families on a nonprofit basis. 0 0 60000 60000 4432741 All costs associated with the operation and renting of housing to low income, elderly and handicapped individuals are reflected on Form 990 as rental expenditures and not program costs. Program costs consist of grants to other not for profit entities to support their mission outreach. 0 0 0 60000 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 16 16 16 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Bethlehem Area Moravians 6108661841 561 East Market Street Bethlehem PA 18018 Brad Senick Exe Vice President MDC 40 X 94660 0 0 Mike Garganta Vice President of MDC 40 0 X 85150 0 0 Tracy Patton Director 1 0 X 0 0 0 Tom Demshock Director 1 0 X 0 0 0 Carol Henn Director 1 0 X 0 0 0 Kevin Kelleher Director 1 0 X 0 0 0 Blair Bates Director 1 0 X 0 0 0 Audra Kahr Board Vice President 1 0 X 0 0 0 Mike Long Board President 1 0 X 0 0 0 179810 0 0 0 0 0 0 Direct Energy Po Box 32179 New York NY 100872179 Electrical Provider 229156 GCFK Insurance 1202 Broad way fountain hill PA 18018 Insurance Premiums 123084 Service Electric 1045 hamilton street allentown PA 18101 Cable Provider 102522 3 0 County Service Grant for Senior Center Operations 532000 37722 37722 0 0 HUD Section 8 Funding for Elderly Housing 532000 1173260 1173260 0 0 0 0 0 0 1210982 134863 134863 0 0 0 0 0 0 0 0 0 0 2202078 0 3062009 0 -859931 0 -859931 -859931 0 0 0 0 Unrealized Gain on Investments 900099 884818 884818 0 0 0 0 0 0 884818 1370732 1370732 0 0 60000 60000 405859 405859 33850 33850 69840 69840 569549 60000 509549 0 633758 1171845 1153597 775910 12714 12697 694975 900000 130280 132525 17568587 11948636 6242584 5619951 5208783 6224399 -76050 -135812 14000641 14701515 218432 118419 715 153516 153935 372663 272354 X 13627978 14429161 0 0 13627978 14429161 14000641 14701515 801183 0 0 0 0 0 X 0 1 X 1 0 X 593126 0 4938 0 0 598064 3050600 3095841 3061145 3174376 3413060 15795022 3643726 3095841 3066083 3174376 3413060 16393086 16393086 69727 47991 51793 69521 134863 373895 69727 47991 51793 69521 134863 373895 3713453 3143832 3117876 3243897 3547923 16766981 0.97770 0.98244 0.02230 0.01756 X 0 820208 820208 0 16748379 11948636 4799743 0 0 0 0 0 0 0 0 0 0 0 0 5619951 0 Tenant Security Deposits 153935 153935 X 4432741 0 0 0 3062009 3062009 1370732 0 0 0 1370732 3631558 0 0 0 3062009 3062009 569549 0 0 0 569549 Schedule D, Part X, Line 2 Income Taxes Uncertain tax positions are evaluated in accordance with FASB ASC 740-10. FASB ASC 740-10 clarifies the accounting for uncertainty in income taxes recognized in the Corporation's consolidated financial statements and prescribes a recognition threshold of more-likely-than-not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold has been met. FASB ASC 740-10 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, and disclosure. The Corporation had no material unrecognized tax benefits or accrued interest or penalties. Moravian Development Corporation and Moravian House IV, Inc. have been recognized by the Internal Revenue Service as not-for-profit corporations as described in Section 501(c)(3) of the Internal Revenue Code and are exempt from federal income taxes on related income pursuant to Section 509(a) of the Internal Revenue Code. Moravian House III, LP is recognized as a partnership for income tax purposes. No provision or benefits for income taxes has been included in these consolidated financial statements since taxable income or loss passes through to, and is reportable by, the partners individually. Moravian House 3, LLC is a disregarded entity for federal income tax purposes. The activities of the entity are reported with the activities of the sole member, Moravian Development Corporation. The Corporation and its affiliates have filed all required income tax returns in the United States. The Corporation and its affiliates are no longer subject to U.S. tax examinations by taxing authorities for years before 2020. Schedule D, Part XI, Line 2d Rental Expenses Schedule D, Part XII, Line 2d Rental Expenses 1 Bethlehem Area Moravians 561 East Market Street Bethlehem PA 18018 240795968 60000 cash To support charitable missions and outreaches of the Bethlehem Area Moravians 1 0 Schedule I, Part I, Line 2 The Organization receives a verbal report from the CEO of the Bethlehem Area Moravians on how the funds designated for ministry and outreach is spent annual at a MDC Board Meeting Form 990, Part VI, Section B, Line 11b Form 990 is prepared by the Chief Executive Officer of MDC. It is then submitted to the Board of Directors via the Board Member Portal. If the General Board does not have any questions or comments, the CEO then files the return as final Form 990, Part VI, Section B, Line 12c All board/committee members are required to submit annually a conflict of interest survey, detailing all conflicts of interest with the Organization. The surveys are submitted to the Chief Financial Officer, who reviews for conflicts. If it is determined that there is a conflict, the materiality of the conflict is reviewed at the Board of Director level. If it is determined by the Board of Directors that the conflict would impair Board Member from acting impartially, the Board Member will be asked to rescind their position on Board. If it is determined that the conflict is minor in nature, the Board Member will be required to refrain from voting on any measure associated with this conflict. Form 990, Part VI, Section B, Line 15 Compensation of Key Employees is evaluated by the Board of Directors during the annual budget review. Compensation is based on the level of service the employee provides to the Organization. Form 990, Part VI, Section C, Line 18 Upon Request Form 990, Part VI, Section C, Line 19 upon request Bethlehem Area Moravians 561 East Market Street Bethlehem PA 18018 240795968 Management Services PA 501 (c) 3 1 N/A 0 Moravian Village of Bethlehem 526 Wood Street Bethlehem PA 18018 233022262 continuing care retirement community PA N/A 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 Moravian Village of Bethlehem d 900000 Unsecured note payable owed by the Moravian Village of Bethlehem to the Moravian Development Corporation. This note is interest only and the value is the cash value at time of issuance. Bethlehem Area Moravians b 60000 Grant issued to the Bethlehem Area Moravians to support their charitable outreach. Bethlehem Area Moravians m 405859 Payment for management services by related organizations Management service fees are approved by the Department of Housing and Urban Development (HUD)