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← LOW INCOME HOUSING DEVELOPMENT CORPORATION OF TERRE HAUTE

Form 990 for tax year 2022

Filed by LOW INCOME HOUSING DEVELOPMENT CORPORATION OF TERRE HAUTE.

Totals

Total revenue
$889,304
Total expenses
$712,039
Contributions and grants received
$498,801
Grants paid
$0
Program service revenue
$346,042
Investment income
$44,461
Other revenue
$0
Total assets, end of year
$10,827,521
Total liabilities, end of year
$2,087,375
Net assets or fund balances, end of year
$8,740,146
Program services expenses (Part IX)
$393,214
Management and general expenses
$318,825
Fundraising expenses
$0
Program service expenses (Part III)
$393,214

Program services were 55.2% 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)

    $466,801

  • 1f · All other contributions, gifts and grants

    $32,000

  • 2a · Program service revenue: RENTAL INCOME

    total $333,216 · related or exempt $333,216

  • 2b · Program service revenue: OTHER TENANT CHARGES

    total $12,826 · related or exempt $12,826

  • 3 · Investment income

    total $44,461 · excluded $44,461

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $150,872 · management and general $150,872

  • 11b · Fees: legal

    total $90 · management and general $90

  • 11c · Fees: accounting

    total $2,395 · management and general $2,395

  • 12 · Advertising and promotion

    total $37 · management and general $37

  • 13 · Office expenses

    total $9,582 · management and general $9,582

  • 16 · Occupancy

    total $97,890 · program services $97,890

  • 17 · Travel

    total $220 · management and general $220

  • 22 · Depreciation, depletion and amortization

    total $199,435 · program services $199,435

  • 23 · Insurance

    total $53,683 · program services $51,389 · management and general $2,294

  • 24a · Other expenses: PROGRAM MANAGEMENT FEE

    total $125,908 · management and general $125,908

  • 24b · Other expenses: MAINTENANCE AND OPERATI

    total $41,723 · program services $41,723

  • 24c · Other expenses: OTHER ADMINISTRATION EX

    total $25,938 · management and general $25,938

  • 24d · Other expenses: COLLECTION LOSSES

    total $2,777 · program services $2,777

  • 24e · All other expenses

    total $1,489 · management and general $1,489

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,986,287 · end of year $4,077,707

  • 4 · Accounts receivable

    beginning of year $10,689 · end of year $16,815

  • 7 · Other notes and loans receivable

    beginning of year $1,860,409 · end of year $1,790,435

  • 9 · Prepaid expenses and deferred charges

    beginning of year $25,457 · end of year $27,842

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

    $6,473,712

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

    $1,814,576

  • 10c · Land, buildings and equipment, net

    beginning of year $4,429,413 · end of year $4,659,136

  • 15 · Other assets

    beginning of year $449,598 · end of year $255,586

  • 17 · Accounts payable and accrued expenses

    beginning of year $154,161 · end of year $18,852

  • 19 · Deferred revenue

    beginning of year $5,381 · end of year $4,356

  • 21 · Escrow or custodial account liability

    beginning of year $36,826 · end of year $36,770

  • 24 · Unsecured notes and loans payable

    beginning of year $2,009,333 · end of year $1,977,333

  • 25 · Other liabilities

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

  • 27 · Net assets without donor restrictions

    beginning of year $8,556,152 · end of year $8,740,146

Mission and programs · 2022

Mission

SEE SCHEDULE O.

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

    Expenses $393,214 · Revenue $346,042

As filed on the 2022 return.

Listed in Part VII

  • JAMES COUNTERMAN

    BOARD MEMBER

    Total calculated
    $875
    From this org
    $0
    From related orgs
    $875
    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

    BOARD MEMBER

    Total calculated
    $875
    From this org
    $0
    From related orgs
    $875
    Other
    $0
    Hours/week
    2

  • MICHAEL WAUGH

    VICE PRESIDENT

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

  • JOHN WOLF

    BOARD MEMBER

    Total calculated
    $875
    From this org
    $0
    From related orgs
    $875
    Other
    $0
    Hours/week
    2

  • PATRICIA PARKER-ZAIKOVSKY

    PRESIDENT

    Total calculated
    $875
    From this org
    $0
    From related orgs
    $875
    Other
    $0
    Hours/week
    2

  • J GLENN PURNELL

    BOARD MEMBER

    Total calculated
    $625
    From this org
    $0
    From related orgs
    $625
    Other
    $0
    Hours/week
    2

  • JEFFREY STEWART

    EXECUTIVE DIRECTOR

    Total calculated
    $202,887
    From this org
    $0
    From related orgs
    $202,887
    Other
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0 + $202,887 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $202,887 related

  • MARIA LAKE

    DIRECTOR OF FINANCE/TREASU

    Total calculated
    $97,792
    From this org
    $0
    From related orgs
    $97,792
    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.

Provenance

Return type
form_990
Tax year
2022
Filed
29 April 2024
IRS schema version
2022v5.0
Source object
202411209349301591

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