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Nonprofiteer
← LINCOLN VILLAGE PRESERVATION CORPORATION

Form 990 for tax year 2024

Filed by LINCOLN VILLAGE PRESERVATION CORPORATION.

Totals

Total revenue
$3,555,220
Total expenses
$2,715,291
Contributions and grants received
$2,930,406
Grants paid
$0
Program service revenue
$251,271
Investment income
$336,222
Other revenue
$37,321
Total assets, end of year
$13,825,734
Total liabilities, end of year
$812,695
Net assets or fund balances, end of year
$13,013,039
Program services expenses (Part IX)
$2,497,484
Management and general expenses
$19,672
Fundraising expenses
$198,135
Program service expenses (Part III)
$2,497,484

Program services were 92.0% 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

    $2,930,406

  • 1g · Noncash contributions included above

    $20,796

  • 2a · Program service revenue: RESIDENTIAL RENT INCOME

    total $193,077 · related or exempt $193,077

  • 2b · Program service revenue: ACADEMY TUITION

    total $30,035 · related or exempt $30,035

  • 2c · Program service revenue: PRESCHOOL TUITION

    total $21,297 · related or exempt $21,297

  • 2d · Program service revenue: LEARNING LAB TUITION

    total $3,892 · related or exempt $3,892

  • 2e · Program service revenue: SUMMER CAMP TUITION

    total $2,970 · related or exempt $2,970

  • 3 · Investment income

    total $336,222 · excluded $336,222

  • 11a · Other revenue: FACILITIES RENTAL INCOME

    total $37,321 · excluded $37,321

  • 11e · Other revenue, total

    $37,321

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $174,040 · program services $157,874 · fundraising $16,166

  • 7 · Other salaries and wages

    total $1,429,116 · program services $1,300,322 · fundraising $128,794

  • 9 · Other employee benefits

    total $123,662 · program services $115,620 · fundraising $8,042

  • 10 · Payroll taxes

    total $67,620 · program services $67,620

  • 11b · Fees: legal

    total $1,600 · management and general $1,600

  • 11c · Fees: accounting

    total $11,886 · management and general $11,886

  • 11e · Fees: professional fundraising services

    total $3,910 · fundraising $3,910

  • 11g · Fees: other

    total $1,730 · program services $1,730

  • 13 · Office expenses

    total $24,932 · program services $24,932

  • 14 · Information technology

    total $30,697 · program services $30,697

  • 16 · Occupancy

    total $117,272 · program services $117,272

  • 19 · Conferences, conventions and meetings

    total $6,186 · management and general $6,186

  • 22 · Depreciation, depletion and amortization

    total $276,803 · program services $276,803

  • 23 · Insurance

    total $81,092 · program services $81,092

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $81,938 · program services $81,938

  • 24b · Other expenses: GRANT EXPENSES

    total $60,684 · program services $60,684

  • 24c · Other expenses: FOOD AND BEVERAGES

    total $51,283 · program services $51,283

  • 24d · Other expenses: SECURITY

    total $27,476 · program services $27,476

  • 24e · All other expenses

    total $143,364 · program services $102,141 · fundraising $41,223

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $558,097 · end of year $62,444

  • 2 · Savings and temporary cash investments

    beginning of year $2,737,494 · end of year $1,483,294

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

    $9,077,260

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

    $1,327,540

  • 10c · Land, buildings and equipment, net

    beginning of year $6,612,879 · end of year $7,749,720

  • 11 · Investments: publicly traded securities

    beginning of year $3,140,202 · end of year $4,453,286

  • 15 · Other assets

    beginning of year $20,480 · end of year $76,990

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,266 · end of year $23,914

  • 25 · Other liabilities

    beginning of year $874,776 · end of year $788,781

  • 27 · Net assets without donor restrictions

    beginning of year $10,613,897 · end of year $11,817,505

  • 28 · Net assets with donor restrictions

    beginning of year $1,559,213 · end of year $1,195,534

Mission and programs · 2024

Mission

THE CORPORATION'S PRIMARY MISSION IS TO PROVIDE AFFORDABLE HOUSING AND EDUCATION AND TO OFFER COMFORT, ASSISTANCE, AND ENCOURAGEMENT TO LOW-INCOME RESIDENTS IN THE LINCOLN MILL VILLAGE AREA LOCATED IN HUNTSVILLE, ALABAMA.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE HOUSING AND EDUCATION TO RESIDENTS OF LINCOLN VILLAGE

  • LINCOLN VILLAGE PRESERVATION CORPORATION OWNS RENTAL HOUSING UNITS THAT HAVE BEEN REFURBISHED WITH THE HELP OF VOLUNTEER LABOR AND ARE LEASED AT BELOW MARKET RATES FOR THE BENEFIT OF THE RESIDENTS OF LINCOLN MILL VILLAGE.

    Expenses $1,572,131 · Revenue $193,077

  • IN 2012, THE CORPORATION PURCHASED A FAILED TITLE I PUBLIC ELEMENTARY SCHOOL BUILDING IN THE LINCOLN MILL VILLAGE AREA AND ESTABLISHED AN EDUCATIONAL ACADEMY WITH MINIMAL TUITION FOR THE BENEFIT OF ELEMENTARY STUDENTS ORIGINALLY ZONED FOR THAT SCHOOL. THE SCHOOL SERVED 31 STUDENTS IN PK3-PK4 AND 86 STUDENTS IN GRADES K-8.

    Expenses $925,353 · Revenue $58,194

As filed on the 2024 return.

Listed in Part VII

  • Heather Templet

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Scott Bence

    VICE PRES/TR

    Total calculated
    $0
    Hours/week
    4

  • Kyle Finlay

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Warne Heath

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Steve Hill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Chris Love

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Rica McRoy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mark Stearns

    DIRECTOR

    Total calculated
    $109,730
    From this org
    $109,730
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jay Wilson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sam Yeager

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jessica Ahrens

    EXECUTIVE DI

    Total calculated
    $52,167
    From this org
    $52,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
13 February 2026
IRS schema version
2024v5.0
Source object
202620519349300442

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