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Nonprofiteer
← LEXINGTON ASSETS INC 465 N PERRY ST

Form 990 for tax year 2024

Filed by LEXINGTON ASSETS INC 465 N PERRY ST.

Totals

Total revenue
-$49,279
Total expenses
$36,860
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$2,089
Other revenue
-$51,368
Total assets, end of year
$900,308
Total liabilities, end of year
$1,026,390
Net assets or fund balances, end of year
-$126,082
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 6a · Gross rents

    real property $251,427

  • 6b · Less rental expenses

    real property $303,935

  • 6c · Rental income or loss

    real property -$52,508

  • 6d · Net rental income or loss

    total -$52,508 · related or exempt -$52,508

  • 7a · Gross sales of assets other than inventory

    other assets $2,089

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $2,089

  • 7d · Net gain or loss

    total $2,089 · related or exempt $2,089

  • 11a · Other revenue: OTHER REVENUE

    total $1,140 · related or exempt $1,140

  • 11e · Other revenue, total

    $1,140

Functional expenses

Part IX, the statement of functional expenses.

  • 22 · Depreciation, depletion and amortization

    total $32,169

  • 24a · Other expenses: AGENCY ADMIN

    total $4,691

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year -$1

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

    $5,002,933

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

    $4,102,624

  • 10c · Land, buildings and equipment, net

    beginning of year $1,096,103 · end of year $900,309

  • 23 · Secured mortgages and notes payable

    beginning of year $582,488 · end of year $471,563

  • 25 · Other liabilities

    beginning of year $553,558 · end of year $554,827

  • 27 · Net assets without donor restrictions

    beginning of year -$39,943 · end of year -$126,082

Mission and programs · 2024

Mission

LEXINGTON ASSETS, INC. HOLDS TITLE TO PROPERTY THAT IS USED BY FULTON-SCHOHARIE COUNTIES CHAPTER NYSARC, INC. IN PROVIDING VOCATIONAL AND DAY PROGRAM SERVICES TO INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES.

Activities or mission (Part I)

TITLE-HOLDING COMPANY

  • NOT APPLICABLE

As filed on the 2024 return.

Listed in Part VII

  • Rinaldo Esposito

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5 + 12 related

  • Jean Schultz

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Terri Easterly

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Mike Ostrander

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Lisa McCoy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 3 related

  • Joe Magliocca

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Judy Schelle

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Shaloni Winston

    EXECUTIVE DIRECTOR

    Total calculated
    $353,930
    From this org
    $0
    From related orgs
    $293,227
    Other
    $60,703
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $283,255 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $4,972 related
    Deferred
    $0 + $46,278 related
    Nontaxable benefits
    $0 + $14,425 related
    Filer's total
    $0 + $353,930 related

  • Daniel Richardson

    DEPUTY EXECUTIVE DIRECTOR

    Total calculated
    $244,306
    From this org
    $0
    From related orgs
    $200,798
    Other
    $43,508
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $190,486 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $5,312 related
    Deferred
    $0 + $31,216 related
    Nontaxable benefits
    $0 + $12,292 related
    Filer's total
    $0 + $244,306 related

  • Jamie Petrin

    CFO

    Total calculated
    $194,493
    From this org
    $0
    From related orgs
    $159,513
    Other
    $34,980
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,413 related
    Bonus
    $0 + $4,100 related
    Other
    $0
    Deferred
    $0 + $9,796 related
    Nontaxable benefits
    $0 + $25,184 related
    Filer's total
    $0 + $194,493 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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
SHALONI WINSTON - $28,612 DANIEL RICHARDSON - $19,123

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.

Provenance

Return type
form_990
Tax year
2024
Filed
28 October 2025
IRS schema version
2024v5.2
Source object
202523029349300222

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