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← LOW INCOME HOUSING DEVELOPMENT CORPORATION OF TERRE HAUTE

Form 990 for tax year 2023

Filed by LOW INCOME HOUSING DEVELOPMENT CORPORATION OF TERRE HAUTE.

Totals

Total revenue
$1,121,902
Total expenses
$767,428
Contributions and grants received
$562,571
Grants paid
$0
Program service revenue
$364,073
Investment income
$195,258
Other revenue
$0
Total assets, end of year
$11,100,404
Total liabilities, end of year
$2,005,784
Net assets or fund balances, end of year
$9,094,620
Program services expenses (Part IX)
$525,428
Management and general expenses
$242,000
Fundraising expenses
$0
Program service expenses (Part III)
$525,428

Program services were 68.5% 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)

    $530,571

  • 1f · All other contributions, gifts and grants

    $32,000

  • 2a · Program service revenue: RENTAL INCOME

    total $361,647 · related or exempt $361,647

  • 2b · Program service revenue: OTHER TENANT CHARGES

    total $2,426 · related or exempt $2,426

  • 3 · Investment income

    total $195,258 · excluded $195,258

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $145,378 · management and general $145,378

  • 11b · Fees: legal

    total $84 · management and general $84

  • 11c · Fees: accounting

    total $2,465 · management and general $2,465

  • 12 · Advertising and promotion

    total $100 · management and general $100

  • 13 · Office expenses

    total $9,727 · management and general $9,727

  • 16 · Occupancy

    total $92,994 · program services $92,994

  • 17 · Travel

    total $533 · management and general $533

  • 22 · Depreciation, depletion and amortization

    total $213,009 · program services $213,009

  • 23 · Insurance

    total $57,709 · program services $55,243 · management and general $2,466

  • 24a · Other expenses: MAINTENANCE AND OPERATI

    total $154,857 · program services $154,857

  • 24b · Other expenses: PROGRAM MANAGEMENT FEE

    total $44,625 · management and general $44,625

  • 24c · Other expenses: OTHER ADMINISTRATION EX

    total $35,193 · management and general $35,193

  • 24d · Other expenses: COLLECTION LOSSES

    total $9,325 · program services $9,325

  • 24e · All other expenses

    total $1,429 · management and general $1,429

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,077,707 · end of year $4,371,817

  • 4 · Accounts receivable

    beginning of year $16,815 · end of year $5,402

  • 7 · Other notes and loans receivable

    beginning of year $1,790,435 · end of year $1,729,023

  • 9 · Prepaid expenses and deferred charges

    beginning of year $27,842 · end of year $30,092

  • 10a · Land, buildings and equipment: cost or other basis

    $6,506,229

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,027,585

  • 10c · Land, buildings and equipment, net

    beginning of year $4,659,136 · end of year $4,478,644

  • 15 · Other assets

    beginning of year $255,586 · end of year $485,426

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,852 · end of year $16,160

  • 19 · Deferred revenue

    beginning of year $4,356 · end of year $5,752

  • 21 · Escrow or custodial account liability

    beginning of year $36,770 · end of year $38,539

  • 24 · Unsecured notes and loans payable

    beginning of year $1,977,333 · end of year $1,945,333

  • 25 · Other liabilities

    beginning of year $50,064 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $8,740,146 · end of year $9,094,620

Mission and programs · 2023

Mission

SEE SCHEDULE O.

  • TO PROVIDE AFFORDABLE HOUSING TO PERSONS AND FAMILIES IN TERRE HAUTE, IN.

    Expenses $525,428 · Revenue $364,073

As filed on the 2023 return.

Listed in Part VII

  • James Counterman

    BOARD MEMBER

    Total calculated
    $750
    From this org
    $0
    From related orgs
    $750
    Other
    $0
    Hours/week
    2

  • Teresa Prince

    BOARD MEMBER

    Total calculated
    $500
    From this org
    $0
    From related orgs
    $500
    Other
    $0
    Hours/week
    2

  • Marshall Rector

    VICE PRESIDENT

    Total calculated
    $750
    From this org
    $0
    From related orgs
    $750
    Other
    $0
    Hours/week
    2

  • Roderick A Smith

    VICE PRESIDENT

    Total calculated
    $250
    From this org
    $0
    From related orgs
    $250
    Other
    $0
    Hours/week
    2

  • John Wolf

    BOARD MEMBER

    Total calculated
    $125
    From this org
    $0
    From related orgs
    $125
    Other
    $0
    Hours/week
    2

  • Patricia Parker-Zaikovsky

    PRESIDENT

    Total calculated
    $750
    From this org
    $0
    From related orgs
    $750
    Other
    $0
    Hours/week
    2

  • J Glenn Purnell

    BOARD MEMBER

    Total calculated
    $375
    From this org
    $0
    From related orgs
    $375
    Other
    $0
    Hours/week
    2

  • Myra M Wilkey

    BOARD MEMBER

    Total calculated
    $500
    From this org
    $0
    From related orgs
    $500
    Other
    $0
    Hours/week
    2

  • Jeffrey Stewart

    EXECUTIVE DIRECTOR

    Total calculated
    $199,966
    From this org
    $0
    From related orgs
    $199,966
    Other
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0 + $199,966 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $199,966 related

  • Maria Lake

    DIRECTOR OF FINANCE/TREASU

    Total calculated
    $101,211
    From this org
    $0
    From related orgs
    $101,211
    Other
    $0
    Hours/week
    2

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

  • WARREN VILLAGE LP

    LOW-INCOME HOUSING · IN · 0.01% owned · share of income -$30 · share of assets $1,112

  • LIHDC - WARREN VILLAGE LLC

    LOW-INCOME HOUSING · IN · 100% owned · share of income -$20 · share of assets $671

Provenance

Return type
form_990
Tax year
2023
Filed
10 February 2025
IRS schema version
2023v6.0
Source object
202540419349301894

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