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Nonprofiteer
← LCN TITLE HOLDING CORPORATION NFP

Form 990 for tax year 2023

Filed by LCN TITLE HOLDING CORPORATION NFP.

Totals

Total revenue
$528,338
Total expenses
$687,163
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$528,307
Investment income
$31
Other revenue
$0
Total assets, end of year
$31,163,956
Total liabilities, end of year
$30,673,620
Net assets or fund balances, end of year
$490,336
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $528,307 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $31 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $42,908 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $156,750 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $476,391 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: LICENSES, FEES, & PERMITS

    total $11,114 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $227,469 · end of year $60,824

  • 4 · Accounts receivable

    beginning of year $0

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

    $18,860,615

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

    $2,217,679

  • 10c · Land, buildings and equipment, net

    beginning of year $17,119,326 · end of year $16,642,936

  • 15 · Other assets

    beginning of year $1,738,383 · end of year $14,460,196

  • 17 · Accounts payable and accrued expenses

    end of year $3,901

  • 24 · Unsecured notes and loans payable

    beginning of year $18,372,118 · end of year $18,383,232

  • 25 · Other liabilities

    beginning of year $3,901 · end of year $12,286,487

  • 27 · Net assets without donor restrictions

    beginning of year $709,159 · end of year $490,336

Mission and programs · 2023

Mission

LCN TITLE HOLDING CORPORATION NFP OPERATED EXCLUSIVELY FOR THE CHARITABLE PORPUSE OF HOLDING TITLE TO OR LEASHEHOLD INTEREST IN PROPERTY AND COLLECTING RESIDENTIAL AND COMMERCIAL RENTAL INCOME FROM THAT PROPERTY AND TURNING OVER THE INCOME, LESS EXPENSES TO LA CASA NORTE

  • TO (I) ACQUIRE AND HOLD TITLE TO PROPERTY IN CHICAGO, ILLINOIS CURRENTLY OWNED BY LCN, (II) BORROW LOW-INTEREST RATE FUNDS AND CONTRACT FOR CONSTRUTION OF PROJECT, AND (III) LEASE THE PROJECT TO LCN FOR USE AS A HOUSING DEVELOPMENT AND COMMUNITY CENTER, INCLUDING A SUPPORTIVE HOUSING FACILITY FOR FORMERLY HOMELESS INDIVIDUALS, A COMPREHENSIVE HEALTH CLINIC, A FOOD PANTRY, A YOUTH DROP-IN CENTER AND AN EMPLOYEMENT READINESS FACILITY.

As filed on the 2023 return.

Listed in Part VII

  • JOSE MUNOZ

    EXECUTIVE DIRECTOR

    Total calculated
    $198,576
    From this org
    $0
    From related orgs
    $198,576
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $194,242 related
    Bonus
    $0 + $4,334 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $198,576 related

  • JULIO RODIGUEZ

    BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JUAN PABLO PRIETO

    BOARD VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • CHRISTIAN YOUNG

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JEANNETTE A COLYVAS

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • JOHN ANGLISS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RYAN COON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • VANESSA HALL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • HOWARD HAYES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GUSTAVO MAGNO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KEITH DECKER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JUAN MORADO JR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHRISTINA TRIBBIA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MICK SOLIMENE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LARRY MCKAY

    VICE PRESIDENT OF FINANCE AND OPERATIONS

    Total calculated
    $141,636
    From this org
    $0
    From related orgs
    $141,636
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $141,636 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $141,636 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

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.

  • LA CASA NORTE

    501(c)(3) · AFFORDABLE HOUSING SERVICES · IL

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202433129349303438

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