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← CEDAR LANE SENIOR LIVING COMMUNITY III INC

Form 990 for tax year 2024

Filed by CEDAR LANE SENIOR LIVING COMMUNITY III INC.

Totals

Total revenue
$531,718
Total expenses
$577,110
Contributions and grants received
$3,768
Grants paid
$0
Program service revenue
$477,433
Investment income
$448
Other revenue
$50,069
Total assets, end of year
$2,185,528
Total liabilities, end of year
$1,647,824
Net assets or fund balances, end of year
$537,704
Program services expenses (Part IX)
$444,128
Management and general expenses
$132,982
Fundraising expenses
$0
Program service expenses (Part III)
$444,128

Program services were 77.0% 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.

  • 1f · All other contributions, gifts and grants

    $3,768

  • 2a · Program service revenue: RENTAL INCOME

    total $477,118 · related or exempt $477,118

  • 2b · Program service revenue: DIETARY INCOME

    total $315 · related or exempt $315

  • 3 · Investment income

    total $448 · excluded $448

  • 11a · Other revenue: OTHER TENANT CHARGES

    total $46,444 · related or exempt $46,444

  • 11b · Other revenue: LAUNDRY INCOME

    total $3,625 · related or exempt $3,625

  • 11e · Other revenue, total

    $50,069

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $45,636 · program services $45,636

  • 7 · Other salaries and wages

    total $144,646 · program services $144,646

  • 10 · Payroll taxes

    total $15,660 · program services $15,660

  • 11a · Fees: management

    total $115,192 · management and general $115,192

  • 11c · Fees: accounting

    total $17,790 · management and general $17,790

  • 11g · Fees: other

    total $9,666 · program services $9,666

  • 16 · Occupancy

    total $111,658 · program services $111,658

  • 22 · Depreciation, depletion and amortization

    total $103,864 · program services $103,864

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $12,998 · program services $12,998

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $148,358 · end of year $144,032

  • 2 · Savings and temporary cash investments

    beginning of year $219,290 · end of year $173,599

  • 4 · Accounts receivable

    beginning of year $19 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,285 · end of year $30

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

    $4,159,318

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

    $2,320,865

  • 10c · Land, buildings and equipment, net

    beginning of year $1,915,007 · end of year $1,838,453

  • 15 · Other assets

    beginning of year $36,172 · end of year $29,414

  • 17 · Accounts payable and accrued expenses

    beginning of year $53,363 · end of year $14,868

  • 19 · Deferred revenue

    beginning of year $726 · end of year $13,167

  • 21 · Escrow or custodial account liability

    beginning of year $40,965 · end of year $38,239

  • 23 · Secured mortgages and notes payable

    beginning of year $1,295,575 · end of year $1,245,022

  • 25 · Other liabilities

    beginning of year $347,406 · end of year $336,528

  • 27 · Net assets without donor restrictions

    beginning of year $583,096 · end of year $537,704

Mission and programs · 2024

Mission

TO PROVIDE FOR ELDERLY AND DISABLED PERSONS RENTAL HOUSING AND RELATED FACILITIES AND SERVICES ESPECIALLY DESIGNED TO CONTRIBUTE TO THE PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS OF THE ELDERLY AND TO CONTRIBUTE TO THEIR HEALTH, SECURITY, AND USEFULNESS IN LIVING.

Activities or mission (Part I)

TO PROVIDE HOUSING AND CUSTOMER SERVICES TO ELDERLY AND DISABLED ADULTS IN LEONARDTOWN, MARYLAND.

  • CEDAR LANE SENIOR LIVING COMMUNITY III, INC. BEGAN OPERATIONS DURING 2002. THE ENTITY OWNS AND OPERATES A 30-UNIT HOUSING PROJECT FOR THE ELDERLY IN LEONARDTOWN, MARYLAND. IN CONJUNCTIONWITH THE RENTAL UNITS, THE ENTITY PROVIDES SUPPORT SERVICES THAT INCLUDE A DINING FACILITY.

    Expenses $444,128 · Revenue $527,502

As filed on the 2024 return.

Listed in Part VII

  • Eric Golden

    PRESIDENT, CEO, DIRECTOR

    Total calculated
    $188,550
    From this org
    $28,191
    From related orgs
    $154,867
    Other
    $5,492
    Hours/week
    7.7 + 42.3 related

    Schedule J breakdown matched by us

    Base
    $28,191 + $154,867 related
    Bonus
    $0
    Other
    $0
    Deferred
    $846 + $4,646 related
    Nontaxable benefits
    $0
    Filer's total
    $29,037 + $159,513 related

  • Candy Chesser

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jimmy Hayden

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Dennis Nicholson

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Kathy Franzen

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Sheri Burch Norris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Beth Cooper Joseph

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Darlene Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Mickey Ramos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Melanie Trifone

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Robert Lane

    TENANT REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Calvin Boozer

    DIRECTOR OF FACILITIES

    Total calculated
    $107,786
    From this org
    $16,116
    From related orgs
    $88,531
    Other
    $3,139
    Hours/week
    7.7 + 42.3 related

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
INDIVIDUALS RECEIVED PERFORMANCE BONUS, WHICH WAS APPROVED BY THE BOARD OF DIRECTORS.

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 corporations and trusts

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

  • CEDAR LANE SENIOR LIVING COMMUNITY LLC

    C · RENTAL HOUSING · MD

Provenance

Return type
form_990
Tax year
2024
Filed
29 July 2025
IRS schema version
2024v5.2
Source object
202532199349301308

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