Overview
What is Mkv Inc?
Mkv Inc., established as an Ohio not-for-profit corporation, was organized to manage and operate a 150-unit low-income housing community in Cincinnati, Ohio, named The Meadows. The community operates under Section 42 of the National Housing Act and was purchased in 2016. Before the acquisition, Mkv Inc. had entered into a regulatory agreement and a Housing Assistance Payment Contract with HUD, ensuring compliance with federal housing administration regulations. The primary purpose of Mkv Inc. has now shifted to serve as a financing arm for the low-income project through a new partnership.
Is Mkv Inc legitimate?
Mkv Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mkv Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Mkv Inc?
Mkv Inc, as a not-for-profit corporation, was established with the primary goal of operating a low-income housing apartment community. This community, known as The Meadows, comprises 150 units and is located in Cincinnati, Ohio. The organization was established under Section 223(F) of the National Housing Act. In 2007, one unit was converted into an office with HUD approval. Mkv Inc has a regulatory agreement with HUD, governing the operation of the project with the Federal Housing Administration (FHA) section of HUD. The corporation also has a Housing Assistance Payment Contract (HAP Contract) with HUD. In 2016, a partnership purchased the property, and Mkv Inc now funds the project through a seller carryback note. Going forward, the main purpose of this entity will be to serve as a financing arm for the low-income project through the new partnership.
Who is the CEO of Mkv Inc?
James Stahl is the Chairman of Mkv Inc. The CEO's salary of Mkv Inc is $0 and their total compensation is $488,288.
What is the revenue of Mkv Inc?
Mkv Inc's revenue in 2022 was $38,635.
Who are the executives of Mkv Inc and what are their salaries?
Here are 7 key members and their salaries (Mkv Inc's CEO's salary is $0 and their total compensation is $488,288):
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- Related: $411,122
- Other: $77,166
- Compensation: $0
- Related: $170,112
- Other: $19,306
Where can I find the form 990 for Mkv Inc?
Mkv Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mkv Inc
Mkv Inc, an Ohio-based not-for-profit corporation, was established with the mission to own and operate a 150-unit low-income housing apartment community in Cincinnati, Ohio. Initially, the community, known as The Meadows, was operated under Section 223(F) of the National Housing Act. After a unit was converted into an office with HUD approval in December 2007, Mkv Inc entered into a regulatory agreement with HUD and a Housing Assistance Payment Contract (HAP Contract). Following a partnership purchase in 2016, Mkv Inc continues to fund the project through a seller carryback note, transitioning its role to become a financing arm for the low-income project within the new partnership.
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Impact
October, 2024
Mkv Inc has significantly contributed to the housing landscape in Cincinnati, Ohio, by operating as a key player in the provision of low-income housing. The organization oversees a 150-unit apartment community known as The Meadows, which was established under Section 42 of the tax code to offer affordable housing options to residents in need.
Acquired by a partnership in 2016, the property has been effectively managed through a regulatory framework established with the U.S. Department of Housing and Urban Development (HUD). This framework includes a Housing Assistance Payment (HAP) contract that ensures rental subsidies for eligible tenants, fostering a stable living environment for low-income families.
By functioning as a financing arm for this low-income project, Mkv Inc plays a critical role in sustaining affordable housing initiatives. Their engagement in using seller carryback notes for funding empowers the community, ensuring that residents have access to essential housing resources in a city that often struggles with housing affordability issues. The commitment to maintaining quality, affordable housing contributes not only to the well-being of its residents but also enhances the overall livability and economic stability of the Cincinnati area.
This information is meant to be a general summary of Mkv Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $38,635
- Gross Receipts: $38,635
Assets and Liabilities:
- Total Assets: $2,159,741
- Total Liabilities: $0
- Net Assets: $2,159,741
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FINANCING INCOME
Revenue
$38,635
Organization Details
Founding Year
2005
Phone
(513) 782-2726Principal Officer
James Stahl
Main Address
11100 SPRINGFIELD PIKE, CINCINNATI, OH, 45246
NTEE Category
Code: L21 - Housing
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