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← LUTHERAN HOUSING CORPORATION PRAIRIE LAKE APARTMENTS

Form 990 for tax year 2023

Filed by LUTHERAN HOUSING CORPORATION PRAIRIE LAKE APARTMENTS.

Totals

Total revenue
$200,659
Total expenses
$191,903
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$195,799
Investment income
$4,860
Other revenue
$0
Total assets, end of year
$321,529
Total liabilities, end of year
$26,738
Net assets or fund balances, end of year
$294,791
Program services expenses (Part IX)
$125,789
Management and general expenses
$66,114
Fundraising expenses
$0
Program service expenses (Part III)
$125,789

Program services were 65.5% 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.

  • 2f · All other program service revenue

    total $195,799 · related or exempt $195,799 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $4,860 · related or exempt $4,860 · unrelated business $0 · excluded $0

  • 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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $43,671 · program services $25,046 · management and general $18,625

  • 9 · Other employee benefits

    total $1,890 · program services $1,890

  • 10 · Payroll taxes

    total $3,635 · program services $3,635

  • 11a · Fees: management

    total $12,864 · management and general $12,864

  • 11b · Fees: legal

    total $5,912 · management and general $5,912

  • 11c · Fees: accounting

    total $5,568 · management and general $5,568

  • 12 · Advertising and promotion

    total $317 · management and general $317

  • 13 · Office expenses

    total $12,197 · management and general $12,197

  • 16 · Occupancy

    total $61,249 · program services $61,249

  • 22 · Depreciation, depletion and amortization

    total $13,858 · program services $13,858

  • 23 · Insurance

    total $9,299 · program services $9,299

  • 24a · Other expenses: Contracts

    total $8,359 · program services $8,359 · management and general $0 · fundraising $0

  • 24b · Other expenses: Bad Debt

    total $5,752 · program services $0 · management and general $5,752 · fundraising $0

  • 24e · All other expenses

    total $7,332 · program services $2,453 · management and general $4,879

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,455 · end of year $20,199

  • 2 · Savings and temporary cash investments

    beginning of year $158,468 · end of year $167,207

  • 4 · Accounts receivable

    beginning of year $7,151 · end of year $225

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

    $747,121

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

    $613,223

  • 10c · Land, buildings and equipment, net

    beginning of year $147,756 · end of year $133,898

  • 17 · Accounts payable and accrued expenses

    beginning of year $23,895 · end of year $20,362

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $5,900 · end of year $6,376

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$1,877,248 · end of year -$1,868,492

  • 28 · Net assets with donor restrictions

    beginning of year $2,163,283 · end of year $2,163,283

Mission and programs · 2023

Mission

To provide housing for very low-income elderly persons in North Sioux City, South Dakota.

Activities or mission (Part I)

To provide housing for very low-income elderly persons in N. Sioux City, South Dakota.

  • PROVIDED HOUSING FOR LOW INCOME ELDERLY PERSONS

    Expenses $125,789 · Revenue $187,444

As filed on the 2023 return.

Listed in Part VII

  • Rebecca Kiesow-Knudsen

    CHAIR

    Total calculated
    $158,981
    From this org
    $0
    From related orgs
    $126,411
    Other
    $32,570
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $126,411 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,073 related
    Nontaxable benefits
    $0 + $28,509 related
    Filer's total
    $0 + $158,993 related

  • Nathan Beyer

    SECRETARY/TREASURER

    Total calculated
    $119,971
    From this org
    $0
    From related orgs
    $86,481
    Other
    $33,490
    Hours/week
    1 + 45 related

  • Paul Bruflat

    BOARD PERSON

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Tolcha Mesele

    BOARD PERSON

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Elizabeth Duffy

    BOARD PERSON

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kim Elbers

    BOARD PERSON

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Pat Eidsness

    BOARD PERSON

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Constanze Hagmaier

    BOARD PERSON

    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.

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.0
Source object
202403119349303215

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