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Nonprofiteer
← LAKE RIDGE ELDERLY DEVELOPMENT INC

Form 990 for tax year 2024

Filed by LAKE RIDGE ELDERLY DEVELOPMENT INC.

Totals

Total revenue
$1,991,951
Total expenses
$2,103,602
Contributions and grants received
$54,382
Grants paid
$0
Program service revenue
$1,896,339
Investment income
$5,678
Other revenue
$35,552
Total assets, end of year
$4,276,624
Total liabilities, end of year
$4,466,386
Net assets or fund balances, end of year
-$189,762
Program services expenses (Part IX)
$2,011,793
Management and general expenses
$91,809
Fundraising expenses
$0
Program service expenses (Part III)
$2,011,793

Program services were 95.6% 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)

    $54,382

  • 2a · Program service revenue: Rental Income

    total $1,396,738 · related or exempt $1,396,738

  • 2b · Program service revenue: HUD Subsidy Rental Inc

    total $499,601 · related or exempt $499,601

  • 3 · Investment income

    total $5,678 · excluded $5,678

  • 11a · Other revenue: Miscellaneous Revenue

    total $24,195 · excluded $24,195

  • 11b · Other revenue: Tenant Charges

    total $6,448 · excluded $6,448

  • 11c · Other revenue: Laundry Vending

    total $4,909 · excluded $4,909

  • 11e · Other revenue, total

    $35,552

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $543,504 · program services $543,504

  • 9 · Other employee benefits

    total $42,978 · program services $42,978

  • 10 · Payroll taxes

    total $42,339 · program services $42,339

  • 11a · Fees: management

    total $78,369 · management and general $78,369

  • 11c · Fees: accounting

    total $13,440 · management and general $13,440

  • 11g · Fees: other

    total $8,902 · program services $8,902

  • 12 · Advertising and promotion

    total $120 · program services $120

  • 13 · Office expenses

    total $103,078 · program services $103,078

  • 14 · Information technology

    total $8,980 · program services $8,980

  • 17 · Travel

    total $2,638 · program services $2,638

  • 20 · Interest

    total $146,085 · program services $146,085

  • 22 · Depreciation, depletion and amortization

    total $323,923 · program services $323,923

  • 23 · Insurance

    total $106,929 · program services $106,929

  • 24a · Other expenses: Other Administrative Ex

    total $258,218 · program services $258,218

  • 24b · Other expenses: Operating & Maintenance

    total $214,240 · program services $214,240

  • 24c · Other expenses: Utilities

    total $177,427 · program services $177,427

  • 24d · Other expenses: Supplies

    total $25,154 · program services $25,154

  • 24e · All other expenses

    total $7,278 · program services $7,278

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $161,547 · end of year $20,527

  • 4 · Accounts receivable

    end of year $8,985

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

    $10,284,380

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

    $7,164,806

  • 10c · Land, buildings and equipment, net

    beginning of year $3,398,896 · end of year $3,119,574

  • 15 · Other assets

    beginning of year $1,007,743 · end of year $1,127,538

  • 17 · Accounts payable and accrued expenses

    beginning of year $162,337 · end of year $199,008

  • 21 · Escrow or custodial account liability

    beginning of year $36,577 · end of year $36,962

  • 23 · Secured mortgages and notes payable

    beginning of year $4,443,827 · end of year $4,226,860

  • 25 · Other liabilities

    beginning of year $3,556 · end of year $3,556

  • 27 · Net assets without donor restrictions

    beginning of year -$78,111 · end of year -$189,762

Mission and programs · 2024

Mission

The Organization provides affordable housing and services to older adults.

Activities or mission (Part I)

Affordable housing and services for low income seniors and those who are physically disabled.

  • Lake Ridge Fellowship House (LRFH) is an apartment community designed for individuals with limited income who are independent, over 62, or who are disabled. Located in Woodbridge, VA, LRFH opened in 1983 with 99 one bedroom apartments, and common space designed for activities, games, exercise, social events, and wellness presentations. The property is adjacent to a local shopping plaza which makes errands convenient for residents, and operates a 14 seat passenger van for more expanded shopping, errands and seasonal field trips. An onsite service coordinator works with residents to navigate medicare, medicaid, and community resources. The organization operates under section 223(f) of the National Housing Act, and participates in the section 8 housing assistance payment program. The property is regulated by the US Housing and Urban Development agency regarding rent charges and operating methods.

    Expenses $2,011,793 · Revenue $1,896,339

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kathleen Harding

    President

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • Pastor Mark Edwards

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • John S Gray

    Treasurer

    Total calculated
    $0
    Hours/week
    16 + 10 related

  • Wavery Brown

    Director

    Total calculated
    $0
    Hours/week
    1

  • Luzette Njweipi

    Director

    Total calculated
    $0
    Hours/week
    1

  • Christina Zeitz

    CEO

    Total calculated
    $220,209
    From this org
    $0
    From related orgs
    $209,000
    Other
    $11,209
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $190,000 related
    Bonus
    $0 + $19,000 related
    Other
    $0
    Deferred
    $0 + $11,209 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $220,209 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.

Provenance

Return type
form_990
Tax year
2024
Filed
6 May 2026
IRS schema version
2024v5.5
Source object
202601339349304860

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