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Nonprofiteer
← CENTRO LANCASTER LTD

Form 990 for tax year 2024

Filed by CENTRO LANCASTER LTD.

Totals

Total revenue
$258,455
Total expenses
$270,882
Contributions and grants received
$1,610
Grants paid
$0
Program service revenue
$252,794
Investment income
$0
Other revenue
$4,051
Total assets, end of year
$213,105
Total liabilities, end of year
$90,931
Net assets or fund balances, end of year
$122,174
Program services expenses (Part IX)
$214,135
Management and general expenses
$56,747
Fundraising expenses
$0
Program service expenses (Part III)
$214,135

Program services were 79.1% 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

    $1,610

  • 1g · Noncash contributions included above

    $1,610

  • 2a · Program service revenue: RENT REVENUE

    total $252,794 · related or exempt $252,794

  • 11a · Other revenue: REPLACEMENT RESERVE

    total $4,051 · excluded $4,051

  • 11e · Other revenue, total

    $4,051

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $51,808 · management and general $51,808

  • 11c · Fees: accounting

    total $2,070 · management and general $2,070

  • 11g · Fees: other

    total $7,800 · program services $7,800

  • 12 · Advertising and promotion

    total $6,017 · program services $6,017

  • 13 · Office expenses

    total $25 · management and general $25

  • 16 · Occupancy

    total $109,029 · program services $109,029

  • 20 · Interest

    total $2,844 · management and general $2,844

  • 22 · Depreciation, depletion and amortization

    total $80,165 · program services $80,165

  • 23 · Insurance

    total $5,881 · program services $5,881

  • 24a · Other expenses: REPLACEMENT RESERVE

    total $5,004 · program services $5,004

  • 24b · Other expenses: LICENSES & FEES

    total $200 · program services $200

  • 24c · Other expenses: BAD DEBT

    total $39 · program services $39

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $118,138 · end of year $36,123

  • 2 · Savings and temporary cash investments

    beginning of year $933 · end of year $933

  • 4 · Accounts receivable

    beginning of year $10,272 · end of year $642

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,759 · end of year $28,444

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

    $705,661

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

    $558,698

  • 10c · Land, buildings and equipment, net

    beginning of year $111,521 · end of year $146,963

  • 17 · Accounts payable and accrued expenses

    beginning of year $43,642 · end of year $10,184

  • 19 · Deferred revenue

    beginning of year $17,939 · end of year $15,958

  • 23 · Secured mortgages and notes payable

    beginning of year $65,441 · end of year $64,789

  • 24 · Unsecured notes and loans payable

    beginning of year $3,000

  • 27 · Net assets without donor restrictions

    beginning of year $134,601 · end of year $122,174

Mission and programs · 2024

Mission

TO ACQUIRE, DEVELOP AND OPERATE A COMMERCIAL CENTER TO PROMOTE AND STIMULATE COMMERCIAL ACTIVITY, SERVICES AND ACCESS TO HEALTHY FOOD AND GROCERIES IN THE INNER CITY OF LANCASTER, PA.

Activities or mission (Part I)

OPERATE A COMMERCIAL CENTER TO PROMOTE AND STIMULATE COMMERCIAL ACTIVITY IN LANCASTER, PA.

  • CURRENT TENANTS INCLUDE AN INTERNATIONAL GROCERY STORE, CELL PHONE STORE, BARBER SHOP, REAL ESTATE AGENT AND A CHINESE RESTAURANT. THE SIXTH UNIT, A WINE AND BOOK BAR, IS CURRENTLY DOING FITOUT AND IS SCHEDULED TO OPEN THIS SUMMER. THE COMMUNITY HAS EMBRACED THE PLAZA AND THE BUSINESSES ARE DOING WELL.

    Expenses $214,135 · Revenue $252,794

As filed on the 2024 return.

Listed in Part VII

  • C Ted Darcus

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 3 related
  • Jodie Richardson

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related
  • Robert Frankhouser

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 3 related
  • Miriam Ortega

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related
  • Dario Sanchez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related
  • Albert Gonzalez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related
  • Melanie Batista

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related
  • Jim Kline

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related
  • Rosa Graupera

    CFO (UNTIL 12/24)

    Total calculated
    $166,986
    From this org
    $0
    From related orgs
    $146,689
    Other
    $20,297
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $146,689 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,868 related
    Nontaxable benefits
    $0 + $14,429 related
    Filer's total
    $0 + $166,986 related
  • Jose R Lopez

    PRESIDENT/CEO

    Total calculated
    $226,066
    From this org
    $0
    From related orgs
    $215,815
    Other
    $10,251
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $215,815 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,720 related
    Nontaxable benefits
    $0 + $3,531 related
    Filer's total
    $0 + $226,066 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

The filer's explanations (Part III)

PART I, LINE 3
OFFICERS ARE PAID BY A RELATED ORGANIZATION. COMPENSATION IS DETERMINED BY A COMPENSATION COMMITTEE, FORM 990 OF OTHER ORGANIZATIONS AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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
12 November 2025
IRS schema version
2024v5.2
Source object
202503219349307795

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