2024-10-25T00:54:31-05:00 2024-06-30 221478099 COHNREZNICK LLP 500 EAST PRATT STREET 4TH FLOOR BALTIMORE MD 21202 990 2023-07-01 260898815 MT AIRY TRANSIT VILLAGE INC MTAI 8054152710 815 E WASHINGTON LANE PHILADELPHIA PA 19138 ISAAC EWELL CHAIR OF BOARD 8054152710 2024-10-23 1 0 LORI ROTHE YOKOBOSKY CPA P01273422 4107834900 2024-10-23 2023 2024-10-15 13:58:12Z ISAAC EWELL 815 E WASHINGTON LANE PHILADELPHIA PA 19138 583956 0 X N/A X 2007 PA THE ORGANIZATION IS A QUALIFIED ACTIVE LOW-INCOME COMMUNITY BUSINESS WHOSE PRIMARY PURPOSE IS TO ACQUIRE AND RENOVATE BLIGHTED PROPERTIES IN THE CITY OF PHILADELPHIA. 3 3 0 3 0 0 0 0 583956 583956 0 0 0 0 583956 583956 0 0 0 0 0 0 0 0 0 1047732 1042003 1047732 1042003 -463776 -458047 12982805 12547392 17651188 17638108 -4668383 -5090716 THE ORGANIZATION IS A QUALIFIED ACTIVE LOW-INCOME COMMUNITY BUSINESS WHOSE PRIMARY PURPOSE IS TO ACQUIRE AND RENOVATE BLIGHTED PROPERTIES IN THE CITY OF PHILADELPHIA. 0 0 1018828 583956 THE ORGANIZATION IS A QUALIFIED ACTIVE LOW-INCOME COMMUNITY BUSINESS WHOSE PRIMARY PURPOSE IS TO ACQUIRE AND RENOVATE BLIGHTED PROPERTIES IN THE CITY OF PHILADELPHIA. UNDER THE NMTC PROGRAM, THE ORGANIZATION OBTAINED NMTC INCENTIVIZED FINANCING FROM TWO COMMUNITY DEVELOPMENT ENTITIES TO REHABILITATE AND IMPROVE A BUILDING TO BE LEASED TO WISSAHICKON CHARTER SCHOOL. 1018828 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 PA X ISAAC EWELL 8054152710 815 E WASHINGTON LANE PHILADELPHIA PA 19138 X ELLEN LUTZ SECRETARY 1.00 X X 0 0 0 RICHARD BINSWANGER TREASURER 1.00 X X 0 0 0 ISAAC EWELL CHAIR/PRESIDENT 1.00 X X 0 0 0 0 0 0 0 0 0 0 0 LEASE INCOME 531390 583956 583956 583956 583956 583956 0 0 20881 20881 593397 593397 425431 425431 BANK CHARGES 2294 2294 1042003 1018828 23175 0 220902 190051 14273 16648502 4332106 12735231 12316396 26672 26672 12982805 12547392 15454191 15235377 2196997 2402731 17651188 17638108 X -4668383 -5090716 -4668383 -5090716 12982805 12547392 X -458047 35714 X 0 1 X 1 0 X 680403 575467 583956 583956 583956 3007738 680403 575467 583956 583956 583956 3007738 0 0 0 3007738 365 6 371 365 6 371 680768 575473 583956 583956 583956 3008109 0.99990 0.99960 0.00010 0.00040 X 100377 100377 16334564 4118545 12216019 213561 213561 0 12316396 DEFERRED RENTAL REVENUE 1281256 ACCRUED EXPENSES 22785 ACCRUED INTEREST PAYABLE 978532 TRF FEE DEPOSIT ON HAND 3425 DUE FROM (TO) WCS 116733 2402731 X 619670 35714 35714 583956 0 583956 1042003 0 1042003 0 1042003 PART X, LINE 2: THE ORGANIZATION APPLIED FOR AND WAS GRANTED TAX-EXEMPT STATUS BY THE INTERNAL REVENUE SERVICE ("IRS") UNDER SECTION 501(C)(3) OF THE IRC, EXCEPT FOR INCOME TAXES ON "UNRELATED BUSINESS INCOME", AS DEFINED IN THE IRC. MANAGEMENT BELIEVES THAT ALL MATERIAL ACTIVITIES OF THE ORGANIZATION ARE WITHIN THE TAX-EXEMPT GUIDELINES OF THE IRC. DUE TO ITS TAX-EXEMPT STATUS, THE ORGANIZATION WAS NOT SUBJECT TO INCOME TAXES. THE ORGANIZATION IS REQUIRED TO FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ON MARCH 20, 2017, THE IRS AUTOMATICALLY REVOKED THE ORGANIZATION'S TAX-EXEMPT STATUS, AS THE ORGANIZATION HAD NOT FILED INFORMATIONAL TAX RETURNS. ON JULY 7, 2022, THE IRS RETROACTIVELY REINSTATED THE ORGANIZATION'S TAX-EXEMPT STATUS. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES, AND THE ORGANIZATION HAS NO OTHER TAX POSITIONS THAT MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE ORGANIZATION ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2020 REMAIN OPEN. PART XI, LINE 2D - OTHER ADJUSTMENTS: CELL TOWER LEASE REVENUE REPORTED ON PRIOR YEARS TAX RETURNS FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS FOR APPROVAL AND FILING. FORM 990, PART VI, SECTION B, LINE 12B EVERY YEAR, THE MEMBERS OF THE BOARD ARE REQUIRED TO COMPLETE A FORM DISCLOSING ANY CONFLICTS OF INTEREST WITH THE ORGANIZATION. THE COMPLETED DISCLOSURE FORMS ARE KEPT ON FILE. FORM 990, PART VI, SECTION B, LINE 12C THROUGH COMMITTEE MEETINGS AND FULL BOARD MEETINGS, BOARD MEMBERS ARE CONSISTENTLY APPRISED OF THE NEED TO DISCLOSE ANY CONFLICTS OR POTENTIAL CONFLICTS. IN THE EVENT A POTENTIAL CONFLICT IS DISCLOSED, THE ORGANIZATION PROCEEDS TO FOLLOW PROCEDURES SET FORTH IN THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC DURING THE TAX YEAR UPON REQUEST. FORM 990, PART XI, LINE 9: CELL TOWER LEASE REVENUE REPORTED ON PRIOR YEARS TAX RETURNS 35,714.