2024-11-13T13:24:31-05:00 2023-12-31 631057374 MOSTELLAR & SHREVE LLP 23 MIDTOWN PARK W MOBILE AL 36606 990 2023-01-01 631088214 MLK AVENUE REDEVELOPMENT CORP MLKA 2514323073 PO BOX 2204 MOBILE AL 366522204 DAPHNE PIERCE EXECUTIVE DIRECTOR 2514323073 2024-11-13 true true TIMOTHY W VICE JR CPA P01310343 2514760243 2024-11-13 X 2023 2024-10-15 13:58:12Z DAPHNE PIERCE 292407 false X N/A X 1993 AL COMMUNITY REDEVELOPMENT 4 4 1 4 0 160000 29911 131332 0 1075 29911 292407 0 0 96885 96885 0 0 71920 320519 168805 417404 -138894 -124997 1037064 938547 50935 77415 986129 861132 COMMUNITY REDEVELOPMENT false false 365943 131332 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. ONE HOME WAS 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. 544 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 (ECONOMIC EMPOWERMENT) WHICH TARGETS INDIVIDUALS AND TEACHES THEM BASIC FINANCIAL MANAGEMENT TECHNIQUES. 366487 true true false false false false false false false false true false false true 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 false false true 4 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 160000 160000 SALES OF HOMES 100000 100000 RENTAL INCOME 28546 28546 MANAGEMENT FEE INCOME 2496 2496 CREDIT REPORT FEES 290 290 131332 OTHER INCOME 1075 1075 1075 292407 132407 90000 54000 36000 6885 4131 2754 9764 5858 3906 5625 5625 5489 3293 2196 6824 5564 1260 1200 720 480 4367 2620 1747 428 257 171 13032 10956 2076 COST OF LOTS SOLD 134236 134236 REMITTANCES TO CITY 76280 76280 REPAIRS & MAINTENANCE 34447 34447 COSTS OF SECOND MORTGAGES 20000 20000 8827 8500 327 417404 366487 50917 0 237916 255547 6423 5994 857 429 798291 682571 1037064 938547 7485 10121 3450 2800 40000 64494 50935 77415 X 981303 698806 4826 162326 986129 861132 1037064 938547 -124997 X false false false X 88155 20500 39950 160000 308605 410910 710736 259319 29911 132407 1543283 499065 731236 299269 29911 292407 1851888 179978 574188 190000 95000 1039166 179978 574188 190000 95000 1039166 812722 2057 2057 2057 2057 501122 731236 299269 29911 292407 1853945 0.43840 0.51130 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6423 5994 429 429 HOMES UNDER LEASE PURCHASE AGREEMENT 594954 LOTS UNDER CONSTRUCTION 87617 682571 LINE OF CREDIT 64494 64494 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.