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Nonprofiteer
← Seven Lebanon Street Inc

Form 990 for tax year 2022

Filed by Seven Lebanon Street Inc.

Totals

Total revenue
$1,764,426
Total expenses
$1,092,244
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,609,142
Investment income
$12,062
Other revenue
$143,222
Total assets, end of year
$7,485,141
Total liabilities, end of year
$8,477,152
Net assets or fund balances, end of year
-$992,011
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Rental income from related organizations

    total $1,609,142 · related or exempt $1,609,142 · unrelated business $0 · excluded $0

  • 2b · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2c · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2d · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2e · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $12,062 · related or exempt $0 · unrelated business $0 · excluded $12,062

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $373,232 · personal property $0

  • 6b · Less rental expenses

    real property $253,340 · personal property $0

  • 6c · Rental income or loss

    real property $119,892 · personal property $0

  • 6d · Net rental income or loss

    total $119,892 · related or exempt $119,892 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Easement

    total $23,330 · related or exempt $23,330 · unrelated business $0 · excluded $0

  • 11b · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11c · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $23,330

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $50,535

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $504,191

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $254,687

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $183,904

  • 23 · Insurance

    total $11,140

  • 24a · Other expenses: Lease expenses

    total $68,650

  • 24b · Other expenses: Miscellaneous expenses

    total $19,137

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $154,724 · end of year $85,483

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $112,945 · end of year $101,248

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

    $12,211,550

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

    $4,913,140

  • 10c · Land, buildings and equipment, net

    beginning of year $7,458,272 · end of year $7,298,410

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $30,184 · end of year $34,384

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $3,417 · end of year $11,530

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $9,178 · end of year $9,178

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $8,897,355 · end of year $8,422,060

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $100 · end of year $100

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year -$4,079,688 · end of year -$4,079,688

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,865,395 · end of year $3,087,577

Mission and programs · 2022

Mission

The corporation is organized for the exclusive purpose of acquiring, holding title to, managing and leasing real property, collecting the income from real property and remitting the entire amount thereof, less expenses, to its shareholders, each of whom must be an organization described in Section 501(c)(25)(c) of the code, and incurring acquisition indebtedness using the real property as collateral, and executing any mortgage, note, contract or obligation necessary or convenient to carry out the foregoing.

Activities or mission (Part I)

Seven Lebanon Street, Inc.'s sole purpose is to hold title to property located at 7 Lebanon Street in Hanover, NH. The corporation generates rental income that is distributed to Trustees of Dartmouth College, its sole member.

  • The corporation has been organized for the exclusive purpose of acquiring real property, holding title to and collecting income from such property, and remitting the entire amount of income from such property (less expenses) to Trustees of Dartmouth College.

As filed on the 2022 return.

Listed in Part VII

  • Daniel Justynski

    Vice President

    Total calculated
    $200,518
    From this org
    $0
    From related orgs
    $182,451
    Other
    $18,067
    Hours/week
    0.8 + 39.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $181,851 related
    Bonus
    $0
    Other
    $0 + $600 related
    Deferred
    $0 + $16,507 related
    Nontaxable benefits
    $0 + $1,560 related
    Filer's total
    $0 + $200,518 related

  • Dianne Ingalls

    Secretary

    Total calculated
    $351,293
    From this org
    $0
    From related orgs
    $316,008
    Other
    $35,285
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $266,008 related
    Bonus
    $0 + $50,000 related
    Other
    $0
    Deferred
    $0 + $23,376 related
    Nontaxable benefits
    $0 + $11,909 related
    Filer's total
    $0 + $351,293 related

  • Joshua Keniston

    President

    Total calculated
    $396,935
    From this org
    $0
    From related orgs
    $370,342
    Other
    $26,593
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $370,342 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $21,350 related
    Nontaxable benefits
    $0 + $5,243 related
    Filer's total
    $0 + $396,935 related

  • Stephen LeBlanc

    Treasurer

    Total calculated
    $71,269
    From this org
    $0
    From related orgs
    $45,853
    Other
    $25,416
    Hours/week
    0.8 + 19.2 related

  • Jessica Jones

    Director (from September 2022)

    Total calculated
    $1,208,266
    From this org
    $0
    From related orgs
    $1,163,510
    Other
    $44,756
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $447,589 related
    Bonus
    $0 + $714,762 related
    Other
    $0 + $1,159 related
    Deferred
    $0 + $27,450 related
    Nontaxable benefits
    $0 + $17,306 related
    Filer's total
    $0 + $1,208,266 related

  • Kelsey Morgan

    Director (through September 2022)

    Total calculated
    $1,953,503
    From this org
    $0
    From related orgs
    $1,907,604
    Other
    $45,899
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $796,445 related
    Bonus
    $0 + $1,110,000 related
    Other
    $0 + $1,159 related
    Deferred
    $0 + $27,450 related
    Nontaxable benefits
    $0 + $18,449 related
    Filer's total
    $0 + $1,953,503 related

  • Robert Scott Frew

    Director

    Total calculated
    $444,257
    From this org
    $0
    From related orgs
    $402,866
    Other
    $41,391
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $352,866 related
    Bonus
    $0 + $50,000 related
    Other
    $0
    Deferred
    $0 + $27,450 related
    Nontaxable benefits
    $0 + $13,941 related
    Filer's total
    $0 + $444,257 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3
All salaries included in Form 990 Part VII and in Schedule J are paid by Trustees of Dartmouth College.

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.

  • FARMSTEAD TR HOLDINGS LLC

    N/A · Investments · NJ

    Directly controlled by NA

Related corporations and trusts

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

  • Charitable Remainder Unitrusts

    Trust · Fundraising/Development · NH

    Directly controlled by NA

  • Pooled Income Funds

    Trust · Fundraising/Development · NH

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2024
IRS schema version
2022v5.0
Source object
202431319349300228

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