Form 990 for tax year 2023

Filed by LACONIA AREA COMMUNITY LAND TRUST.

Totals

Total revenue: $3,001,373
Total expenses: $2,043,643
Contributions and grants received: $1,882,966
Grants paid: $78,530
Program service revenue: $1,074,209
Investment income: $44,198
Other revenue: $0
Total assets, end of year: $16,073,008
Total liabilities, end of year: $4,135,042
Net assets or fund balances, end of year: $11,937,966
Program services expenses (Part IX): $1,795,185
Management and general expenses: $198,828
Fundraising expenses: $49,630
Program service expenses (Part III): $1,795,185

Program services were 87.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1e · Government grants (contributions)

$953,572
1f · All other contributions, gifts and grants

$929,394
2a · Program service revenue: RENTAL INCOME

total $934,306 · related or exempt $934,306
2b · Program service revenue: DEVELOPER FEES

total $98,000 · related or exempt $98,000
2c · Program service revenue: RESIDENT SERVICE FEES

total $29,120 · related or exempt $29,120
2d · Program service revenue: CONTRACTED SERVICE FEE

total $11,000 · related or exempt $11,000
2e · Program service revenue: MANAGEMENT INCENTIVE F

total $1,783 · related or exempt $1,783
3 · Investment income

total $44,198 · excluded $44,198

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $78,530 · program services $78,530
5 · Compensation of officers, directors and key employees

total $139,041 · program services $95,595 · management and general $24,652 · fundraising $18,794
6 · Compensation of disqualified persons

total $448,831 · program services $339,130 · management and general $109,701
8 · Pension plan contributions

total $13,661 · program services $10,102 · management and general $3,122 · fundraising $437
9 · Other employee benefits

total $76,362 · program services $56,469 · management and general $17,452 · fundraising $2,441
10 · Payroll taxes

total $44,146 · program services $32,646 · management and general $10,089 · fundraising $1,411
11a · Fees: management

total $72,852 · program services $72,852
11b · Fees: legal

total $2,913 · program services $2,913
11c · Fees: accounting

total $30,509 · program services $26,586 · management and general $3,614 · fundraising $309
11g · Fees: other

total $20,675 · program services $15,444 · management and general $4,817 · fundraising $414
12 · Advertising and promotion

total $23,645 · fundraising $23,645
13 · Office expenses

total $22,499 · program services $17,781 · management and general $4,345 · fundraising $373
16 · Occupancy

total $654,086 · program services $648,955 · management and general $4,725 · fundraising $406
17 · Travel

total $3,187 · program services $3,065 · management and general $112 · fundraising $10
20 · Interest

total $10,958 · program services $10,958
22 · Depreciation, depletion and amortization

total $226,179 · program services $213,196 · management and general $11,957 · fundraising $1,026
23 · Insurance

total $66,833 · program services $64,174 · management and general $2,449 · fundraising $210
24a · Other expenses: BAD DEBT

total $62,293 · program services $62,293
24b · Other expenses: SUPPORTIVE SERVICES

total $24,776 · program services $24,776
24c · Other expenses: MISCELLANEOUS

total $11,780 · program services $10,351 · management and general $1,316 · fundraising $113
24d · Other expenses: TRAINING AND EDUCATION

total $7,929 · program services $7,906 · management and general $21 · fundraising $2
24e · All other expenses

total $1,958 · program services $1,463 · management and general $456 · fundraising $39

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $401,238 · end of year $246,928
2 · Savings and temporary cash investments

beginning of year $1,536,736 · end of year $1,525,162
3 · Pledges and grants receivable

beginning of year $1,543,094 · end of year $2,374,091
4 · Accounts receivable

beginning of year $1,049,403 · end of year $577,993
7 · Other notes and loans receivable

beginning of year $1,884,795 · end of year $1,983,985
9 · Prepaid expenses and deferred charges

beginning of year $65,246 · end of year $72,821
10a · Land, buildings and equipment: cost or other basis

$9,230,557
10b · Land, buildings and equipment: accumulated depreciation

$2,207,056
10c · Land, buildings and equipment, net

beginning of year $6,824,601 · end of year $7,023,501
11 · Investments: publicly traded securities

beginning of year $423,409 · end of year $478,709
13 · Investments: program-related

beginning of year $1,065,262 · end of year $1,065,264
14 · Intangible assets

beginning of year $2,842 · end of year $1,923
15 · Other assets

beginning of year $334,234 · end of year $722,631
17 · Accounts payable and accrued expenses

beginning of year $44,600 · end of year $50,661
19 · Deferred revenue

beginning of year $32,771 · end of year $26,871
23 · Secured mortgages and notes payable

beginning of year $4,042,971 · end of year $3,980,185
25 · Other liabilities

beginning of year $72,200 · end of year $77,325
27 · Net assets without donor restrictions

beginning of year $9,321,734 · end of year $9,507,148
28 · Net assets with donor restrictions

beginning of year $1,616,584 · end of year $2,430,818

Mission and programs · 2023

Mission

LRCD'S MISSION IS TO CREATE OPPORTUNITIES FOR THE LAKES REGION TO THRIVE BY DEVELOPING HEALTHY HOMES, CREATING VIBRANT COMMUNITY ASSETS, AND ENGAGING RESIDENTS.

Activities or mission (Part I)

LAKES REGION COMMUNITY DEVELOPERS' ("LRCD") MISSION IS TO CREATE OPPORTUNITIES FOR THE LAKES REGION TO THRIVE BY DEVELOPING HEALTHY HOMES, CREATING VIBRANT COMMUNITY ASSETS, AND ENGAGING RESIDENTS.

RENTAL PROPERTIES AND ASSET MANAGEMENT - LRCD RETAINED THE SERVICES OF A THIRD PARTY MANAGEMENT AGENT FOR ITS PORTFOLIO OF PROPERTIES EFFECTIVE APRIL 1, 2006. LRCD PROVIDES ASSET MANAGEMENT SERVICES RELATED TO THOSE PROPERTIES.

Expenses $1,220,232 · Revenue $936,089
REAL ESTATE DEVELOPMENT - LRCD DEVELOPS A RANGE OF REAL ESTATE TO RESPOND TO HOUSING AND COMMUNITY DEVELOPMENT NEEDS IN THE NEW HAMPSHIRE LAKES REGION. THIS INCLUDES AFFORDABLE RENTAL HOMES FOR HOUSEHOLDS OF LOW-INCOME, AFFORDABLE STARTER HOMES FOR HOUSEHOLDS OF MODERATE INCOME, SUPPORTIVE HOUSING FACILITIES FOR TARGETED LOW-INCOME POPULATIONS, AND COMMUNITY FACILITIES FOR NON-PROFIT ORGANIZATIONS MEETING CRITICAL NEEDS IN THE COMMUNITY.

Expenses $247,820 · Revenue $98,000
TENANT SUPPORT - LRCD'S RESIDENT SERVICES PROGRAM WORKS TO IMPROVE THE HEALTH AND WELL-BEING OF LRCD'S TENANTS SO THEY CAN MAINTAIN HOUSING STABILITY AND BUILD THEIR OWN PATHWAY TO ECONOMIC SECURITY. LRCD'S RESIDENT SERVICES COORDINATORS PROVIDE BENEFITS COUNSELING AND ASSISTANCE WITH ENROLLMENT, CRISIS INTERVENTION, CONFLICT MEDIATION, AND RESOURCE BROKERING, AND FACILITATE ON-SITE EDUCATIONAL PROGRAMMING.

Expenses $231,666 · Grants $78,530 · Revenue $29,120
COMMUNITY BUILDING AND ENGAGEMENT - LRCD FACILITATES LEADERSHIP DEVELOPMENT BY SUPPORTING GROUPS OF TENANTS IN WORKING TOGETHER TO IDENTIFY COMMUNITY PRIORITIES AND DEVELOP RESIDENT-LED PROJECTS. THIS HELPS TO FOSTER HEALTHY RELATIONSHIPS BETWEEN NEIGHBORS AND BUILDS LEADERSHIP AND ADVOCACY SKILLS.

Expenses $60,976 · Revenue $11,000
TRANSITIONAL HOUSING - LRCD'S TRANSITIONAL HOUSING PROGRAM SERVES FAMILIES AND INDIVIDUALS WHO ARE HOMELESS OR AT IMMINENT RISK OF HOMELESSNESS. RENTS ARE SUBSIDIZED BY LRCD WHILE THE HOUSEHOLDS WORK TO ADDRESS BARRIERS TO PERMANENT HOUSING, STABILIZE THEIR HEALTH, AND SECURE EMPLOYMENT.

Expenses $34,491

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Corey HoytCOREY HOYT

CHAIR

Total calculated

$0

Hours/week

2
Carrie DuranCARRIE DURAN

VICE CHAIR

Total calculated

$0

Hours/week

2
Lori BorinLORI BORIN

TREASURER

Total calculated

$0

Hours/week

2
Lisa MureLISA MURE

SECRETARY

Total calculated

$0

Hours/week

2
Erica GilbertERICA GILBERT

BOARD MEMBER

Total calculated

$0

Hours/week

2
Chris DickinsonCHRIS DICKINSON

BOARD MEMBER

Total calculated

$0

Hours/week

2
Victoria GiloVICTORIA GILO

BOARD MEMBER

Total calculated

$0

Hours/week

2
Patricia NicholsPATRICIA NICHOLS

BOARD MEMBER

Total calculated

$0

Hours/week

2
Reuben BassettREUBEN BASSETT

BOARD MEMBER

Total calculated

$0

Hours/week

2
Ben WilsonBEN WILSON

BOARD MEMBER

Total calculated

$0

Hours/week

2
Leigh WilleyLEIGH WILLEY

BOARD MEMBER

Total calculated

$0

Hours/week

2
John LibbyJOHN LIBBY

BOARD MEMBER

Total calculated

$0

Hours/week

2
Carmen LorentzCARMEN LORENTZ

EXECUTIVE DIRECTOR

Total calculated

$139,041

From this org

$119,718

From related orgs

$0

Other

$19,323

Hours/week

45
Stuart LasalleSTUART LASALLE

FINANCE DIRECTOR

Total calculated

$108,256

From this org

$108,256

From related orgs

$0

Other

$0

Hours/week

45
Sarah Steven-HubbardSARAH STEVEN-HUBBARD

RE DEVELOPMENT DIRECTOR

Total calculated

$123,164

From this org

$101,616

From related orgs

$0

Other

$21,548

Hours/week

45

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

MECHANIC SCHOOL LIMITED PARTNERSHIP

RELATED · RENTAL REAL ESTATE · NH · 100% owned · share of income -$16,715 · share of assets $648,061 · general or managing partner

Directly controlled by LACLT
MFH LIMITED PARTNERSHIP

RELATED · RENTAL REAL ESTATE · NH · 100% owned · share of income -$14,383 · share of assets $1,479,147 · general or managing partner

Directly controlled by LACLT
BOYNTON ROAD LIMITED PARTNERSHIP

RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$13 · share of assets $72,747 · general or managing partner

Directly controlled by LACLT CORP
LOCHMERE MEADOWS AFFORDABLE HOUSING LIMITED PARTNERSHIP

RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$15 · share of assets $477,563 · general or managing partner

Directly controlled by LACLT CORP
LM II AFORDABLE HOUSING LIMITED PARTNERSHIP

RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$14 · share of assets $48,417 · general or managing partner

Directly controlled by LACLT CORP
HARRIMAN HILL AFFORDABLE HOUSING LIMITED PARTNERSHIP

RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$5,141 · share of assets $425,363 · general or managing partner

Directly controlled by EASTLACLT LLC
HARRIMAN HILL II LIMITED PARTNERSHIP

RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$15 · share of assets $37,479 · general or managing partner

Directly controlled by EASTLACLT LLC
RIVER'S EDGE LACONIA LIMITED PARTNERSHIP

RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$13 · share of assets $865,374 · general or managing partner

Directly controlled by WINNI RIVER HOUSING CORP
GVK3 LIMITED PARTNERSHIP

RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$14 · share of assets $23,167 · general or managing partner

Directly controlled by GVK3 HOUSING CORP
HHA LIMITED PARTNERSHIP

RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$22 · share of assets $869,898 · general or managing partner

Directly controlled by HHA HOUSING CORP
HHM LIMITED PARTNERSHIP

RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$13 · share of assets $1,136,464 · general or managing partner

Directly controlled by HARVEY HEIGHTS MEREDITH CORPORATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

LACLT CORP

C · RENTAL REAL ESTATE · NH · 100% owned · share of income -$41

Directly controlled by LACLT
EASTLACLT LLC

C · RENTAL REAL ESTATE · NH · 51% owned · share of income -$5,156

Directly controlled by LACLT CORP
WINNI RIVER HOUSING CORP

C · RENTAL REAL ESTATE · NH · 100% owned · share of income -$13

Directly controlled by LACLT
GVK3 HOUSING CORP

C · RENTAL REAL ESTATE · NH · 88% owned · share of income -$12

Directly controlled by LACLT
HHA HOUSING CORP

C · RENTAL REAL ESTATE · NH · 100% owned · share of income -$22

Directly controlled by LACLT
HARVEY HEIGHTS MEREDITH CORPORATION

C · RENTAL REAL ESTATE · NH · 100% owned · share of income -$13

Directly controlled by LACLT
BAY STREET APARTMENTS CORP

C · RENTAL REAL ESTATE · NH · 100% owned

Directly controlled by LACLT

Provenance

Return type: form_990
Tax year: 2023
Filed: 8 August 2024
IRS schema version: 2023v5.1
Source object: 202402219349300005

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.