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Nonprofiteer
← LUTHER HOUSE III INC

Form 990 for tax year 2024

Filed by LUTHER HOUSE III INC.

Totals

Total revenue
$712,232
Total expenses
$872,659
Contributions and grants received
$11,000
Grants paid
$0
Program service revenue
$695,410
Investment income
$5,822
Other revenue
$0
Total assets, end of year
$4,675,978
Total liabilities, end of year
$46,105
Net assets or fund balances, end of year
$4,629,873
Program services expenses (Part IX)
$631,538
Management and general expenses
$241,121
Fundraising expenses
$0
Program service expenses (Part III)
$631,538

Program services were 72.4% 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

    $11,000

  • 2a · Program service revenue: RENTAL INCOME

    total $695,410 · related or exempt $695,410

  • 3 · Investment income

    total $5,822 · excluded $5,822

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $50,577 · management and general $50,577

  • 7 · Other salaries and wages

    total $139,560 · program services $69,479 · management and general $70,081

  • 8 · Pension plan contributions

    total $16,296 · program services $7,900 · management and general $8,396

  • 9 · Other employee benefits

    total $36,174 · program services $16,698 · management and general $19,476

  • 10 · Payroll taxes

    total $16,375 · program services $6,386 · management and general $9,989

  • 11a · Fees: management

    total $51,072 · management and general $51,072

  • 11c · Fees: accounting

    total $15,846 · management and general $15,846

  • 12 · Advertising and promotion

    total $158 · management and general $158

  • 13 · Office expenses

    total $11,486 · management and general $11,486

  • 19 · Conferences, conventions and meetings

    total $818 · management and general $818

  • 22 · Depreciation, depletion and amortization

    total $248,985 · program services $248,985

  • 23 · Insurance

    total $29,302 · program services $26,080 · management and general $3,222

  • 24a · Other expenses: UTILITITES

    total $108,319 · program services $108,319

  • 24b · Other expenses: CONTRACTS

    total $67,662 · program services $67,662

  • 24c · Other expenses: SERVICE COORDINATOR

    total $28,464 · program services $28,464

  • 24d · Other expenses: SECURITY

    total $20,726 · program services $20,726

  • 24e · All other expenses

    total $30,839 · program services $30,839

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $35,844 · end of year $15,758

  • 2 · Savings and temporary cash investments

    beginning of year $578,756 · end of year $659,955

  • 4 · Accounts receivable

    beginning of year $1,204

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

    $9,454,390

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

    $5,454,125

  • 10c · Land, buildings and equipment, net

    beginning of year $4,236,347 · end of year $4,000,265

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,834 · end of year $10,825

  • 25 · Other liabilities

    beginning of year $46,017 · end of year $35,280

  • 27 · Net assets without donor restrictions

    beginning of year -$3,990,800 · end of year -$4,151,227

  • 28 · Net assets with donor restrictions

    beginning of year $8,781,100 · end of year $8,781,100

Mission and programs · 2024

Mission

PROVIDE HOUSING FOR THE ELDERLY

  • TO PROVIDE AFFORDABLE, DECENT HOUSING FOR VERY LOW INCOME ELDERLY PERSONS. THE ORGANIZATION OPERATES A 76 UNIT HOUSING FACILITY.

    Expenses $631,538 · Revenue $695,410

As filed on the 2024 return.

Listed in Part VII

  • Diana Seip

    EXECUTIVE DI

    Total calculated
    $167,028
    From this org
    $0
    From related orgs
    $131,689
    Other
    $35,339
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    not reported + $131,689 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $35,339 related
    Filer's total
    not reported + $167,028 related

  • Stephen Bossong

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Diane Chun

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Jay Liska

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Eric Heiss

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Patricia Berkwits

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Bob Johnson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Lou Minella

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Richard Streamer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 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

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 corporations and trusts

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

  • LUTHER MGT CO STHN CHESTER COUNTY

    S CORP · MANAGEMENT · PA

Provenance

Return type
form_990
Tax year
2024
Filed
21 July 2025
IRS schema version
2024v5.0
Source object
202522039349300517

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