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← LACONIA AREA COMMUNITY LAND TRUST

Form 990 for tax year 2024

Filed by LACONIA AREA COMMUNITY LAND TRUST.

Totals

Total revenue
$4,173,540
Total expenses
$2,568,269
Contributions and grants received
$2,979,574
Grants paid
$451,750
Program service revenue
$1,077,735
Investment income
$97,078
Other revenue
$19,153
Total assets, end of year
$18,410,945
Total liabilities, end of year
$3,983,764
Net assets or fund balances, end of year
$14,427,181
Program services expenses (Part IX)
$2,299,101
Management and general expenses
$216,941
Fundraising expenses
$52,227
Program service expenses (Part III)
$2,299,101

Program services were 89.5% 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.

  • 1e · Government grants (contributions)

    $1,608,440

  • 1f · All other contributions, gifts and grants

    $1,371,134

  • 1g · Noncash contributions included above

    $556,900

  • 2a · Program service revenue: RENTAL INCOME

    total $964,397 · related or exempt $964,397

  • 2b · Program service revenue: DEVELOPER FEES

    total $79,200 · related or exempt $79,200

  • 2c · Program service revenue: RESIDENT SERVICE FEES

    total $29,952 · related or exempt $29,952

  • 2d · Program service revenue: MANAGEMENT INCENTIVE F

    total $4,186 · related or exempt $4,186

  • 3 · Investment income

    total $53,901 · excluded $53,901

  • 7a · Gross sales of assets other than inventory

    securities $634,376

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

    securities $591,199

  • 7c · Gain or loss

    securities $43,177

  • 7d · Net gain or loss

    total $43,177 · related or exempt $43,177

  • 11a · Other revenue: MISCELLANEOUS

    total $16,428 · related or exempt $16,428

  • 11b · Other revenue: CAPITAL DISTRIBUTION F

    total $2,725 · related or exempt $2,725

  • 11e · Other revenue, total

    $19,153

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $432,209 · program services $432,209

  • 2 · Grants to domestic individuals

    total $19,541 · program services $19,541

  • 5 · Compensation of officers, directors and key employees

    total $144,984 · program services $82,968 · management and general $31,433 · fundraising $30,583

  • 7 · Other salaries and wages

    total $495,839 · program services $375,910 · management and general $119,929

  • 8 · Pension plan contributions

    total $13,141 · program services $9,411 · management and general $3,104 · fundraising $626

  • 9 · Other employee benefits

    total $77,069 · program services $55,187 · management and general $18,203 · fundraising $3,679

  • 10 · Payroll taxes

    total $47,611 · program services $34,093 · management and general $11,246 · fundraising $2,272

  • 11a · Fees: management

    total $75,966 · program services $75,966

  • 11b · Fees: legal

    total $337 · program services $337

  • 11c · Fees: accounting

    total $33,100 · program services $28,611 · management and general $3,928 · fundraising $561

  • 11g · Fees: other

    total $14,725 · program services $11,073 · management and general $3,195 · fundraising $457

  • 12 · Advertising and promotion

    total $12,250 · program services $1,902 · fundraising $10,348

  • 13 · Office expenses

    total $31,061 · program services $26,072 · management and general $4,365 · fundraising $624

  • 16 · Occupancy

    total $719,457 · program services $714,735 · management and general $4,132 · fundraising $590

  • 17 · Travel

    total $4,948 · program services $4,816 · management and general $116 · fundraising $16

  • 20 · Interest

    total $24,900 · program services $24,900

  • 22 · Depreciation, depletion and amortization

    total $242,823 · program services $229,209 · management and general $11,912 · fundraising $1,702

  • 23 · Insurance

    total $73,304 · program services $70,379 · management and general $2,559 · fundraising $366

  • 24a · Other expenses: SUPPORTIVE SERVICES

    total $45,108 · program services $45,108

  • 24b · Other expenses: BAD DEBT

    total $34,466 · program services $34,466

  • 24c · Other expenses: MISCELLANEOUS

    total $20,998 · program services $18,165 · management and general $2,479 · fundraising $354

  • 24d · Other expenses: TRAINING AND EDUCATION

    total $2,864 · program services $2,864

  • 24e · All other expenses

    total $1,568 · program services $1,179 · management and general $340 · fundraising $49

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $246,928 · end of year $177,575

  • 2 · Savings and temporary cash investments

    beginning of year $1,525,162 · end of year $1,225,455

  • 3 · Pledges and grants receivable

    beginning of year $2,374,091 · end of year $3,993,571

  • 4 · Accounts receivable

    beginning of year $577,993 · end of year $487,769

  • 7 · Other notes and loans receivable

    beginning of year $1,983,985 · end of year $2,061,085

  • 9 · Prepaid expenses and deferred charges

    beginning of year $72,821 · end of year $75,456

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

    $10,000,485

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

    $2,445,466

  • 10c · Land, buildings and equipment, net

    beginning of year $7,023,501 · end of year $7,555,019

  • 11 · Investments: publicly traded securities

    beginning of year $478,709 · end of year $529,214

  • 13 · Investments: program-related

    beginning of year $1,065,264 · end of year $1,065,264

  • 14 · Intangible assets

    beginning of year $1,923 · end of year $1,056

  • 15 · Other assets

    beginning of year $722,631 · end of year $1,239,481

  • 17 · Accounts payable and accrued expenses

    beginning of year $50,661 · end of year $78,090

  • 19 · Deferred revenue

    beginning of year $26,871 · end of year $28,121

  • 23 · Secured mortgages and notes payable

    beginning of year $3,980,185 · end of year $3,800,235

  • 25 · Other liabilities

    beginning of year $77,325 · end of year $77,318

  • 27 · Net assets without donor restrictions

    beginning of year $9,507,148 · end of year $10,248,603

  • 28 · Net assets with donor restrictions

    beginning of year $2,430,818 · end of year $4,178,578

Mission and programs · 2024

Mission

LRCD'S MISSION IS TO CREATE OPPORTUNITIES FOR THE LAKES REGION TO THRIVE BY DEVELOPING HEALTHY HOMES, CREATING VIBRANT COMMUNITY ASSETS, AND ENGAGING RESIDENTS.

Activities or mission (Part I)

LAKES REGION COMMUNITY DEVELOPERS' ("LRCD") MISSION IS TO CREATE OPPORTUNITIES FOR THE LAKES REGION TO THRIVE BY DEVELOPING HEALTHY HOMES, CREATING VIBRANT COMMUNITY ASSETS, AND ENGAGING RESIDENTS.

  • RENTAL PROPERTIES AND ASSET MANAGEMENT - LRCD RETAINED THE SERVICES OF A THIRD PARTY MANAGEMENT AGENT FOR ITS PORTFOLIO OF PROPERTIES EFFECTIVE APRIL 1, 2006. LRCD PROVIDES ASSET MANAGEMENT SERVICES RELATED TO THOSE PROPERTIES.

    Expenses $1,285,872 · Revenue $1,023,673

  • REAL ESTATE DEVELOPMENT - LRCD DEVELOPS A RANGE OF REAL ESTATE TO RESPOND TO HOUSING AND COMMUNITY DEVELOPMENT NEEDS IN THE NEW HAMPSHIRE LAKES REGION. THIS INCLUDES AFFORDABLE RENTAL HOMES FOR HOUSEHOLDS OF LOW-INCOME, AFFORDABLE STARTER HOMES FOR HOUSEHOLDS OF MODERATE INCOME, SUPPORTIVE HOUSING FACILITIES FOR TARGETED LOW-INCOME POPULATIONS, AND COMMUNITY FACILITIES FOR NON-PROFIT ORGANIZATIONS MEETING CRITICAL NEEDS IN THE COMMUNITY.

    Expenses $750,193 · Grants $432,209 · Revenue $84,560

  • TENANT SUPPORT - LRCD'S RESIDENT SERVICES PROGRAM WORKS TO IMPROVE THE HEALTH AND WELL-BEING OF LRCD'S TENANTS SO THEY CAN MAINTAIN HOUSING STABILITY AND BUILD THEIR OWN PATHWAY TO ECONOMIC SECURITY. LRCD'S RESIDENT SERVICES COORDINATORS PROVIDE BENEFITS COUNSELING AND ASSISTANCE WITH ENROLLMENT, CRISIS INTERVENTION, CONFLICT MEDIATION, AND RESOURCE BROKERING, AND FACILITATE ON-SITE EDUCATIONAL PROGRAMMING.

    Expenses $189,617 · Grants $19,541 · Revenue $31,307

  • COMMUNITY BUILDING AND ENGAGEMENT - LRCD FACILITATES LEADERSHIP DEVELOPMENT BY SUPPORTING GROUPS OF TENANTS IN WORKING TOGETHER TO IDENTIFY COMMUNITY PRIORITIES AND DEVELOP RESIDENT-LED PROJECTS. THIS HELPS TO FOSTER HEALTHY RELATIONSHIPS BETWEEN NEIGHBORS AND BUILDS LEADERSHIP AND ADVOCACY SKILLS.

    Expenses $64,867 · Revenue $464

  • TRANSITIONAL HOUSING - LRCD'S TRANSITIONAL HOUSING PROGRAM SERVES FAMILIES AND INDIVIDUALS WHO ARE HOMELESS OR AT IMMINENT RISK OF HOMELESSNESS. RENTS ARE SUBSIDIZED BY LRCD WHILE THE HOUSEHOLDS WORK TO ADDRESS BARRIERS TO PERMANENT HOUSING, STABILIZE THEIR HEALTH, AND SECURE EMPLOYMENT.

    Expenses $8,552 · Revenue $61

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Carrie Duran

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Lori Borin

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Lisa Mure

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Erica Gilbert

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Chris Dickinson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Victoria Gilo

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Patricia Nichols

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Reuben Bassett

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Leigh Willey

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Tiffany Baert

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Corey Hoyt

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Carmen Lorentz

    EXECUTIVE DIRECTOR

    Total calculated
    $144,983
    From this org
    $123,830
    From related orgs
    $0
    Other
    $21,153
    Hours/week
    45

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

  • BAY STREET APARTMENTS CORP

    $432,209

    REAL ESTATE DEVELOPMENT

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.

  • MECHANIC SCHOOL LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 100% owned · share of income -$21,063 · share of assets $623,038 · general or managing partner

    Directly controlled by LACLT

  • MFH LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 100% owned · share of income -$23,690 · share of assets $1,436,383 · general or managing partner

    Directly controlled by LACLT

  • BOYNTON ROAD LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income $2,200 · share of assets $81,805 · general or managing partner

    Directly controlled by LACLT CORP

  • LOCHMERE MEADOWS AFFORDABLE HOUSING LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$15 · share of assets $470,594 · general or managing partner

    Directly controlled by LACLT CORP

  • LM II AFORDABLE HOUSING LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$7 · share of assets $38,195 · general or managing partner

    Directly controlled by LACLT CORP

  • HARRIMAN HILL AFFORDABLE HOUSING LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$5,554 · share of assets $452,164 · general or managing partner

    Directly controlled by EASTLACLT LLC

  • HARRIMAN HILL II LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income $980 · share of assets $52,035 · general or managing partner

    Directly controlled by EASTLACLT LLC

  • RIVER'S EDGE LACONIA LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$15 · share of assets $844,584 · general or managing partner

    Directly controlled by WINNI RIVER HOUSING CORP

  • GVK3 LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$10 · share of assets $22,246 · general or managing partner

    Directly controlled by GVK3 HOUSING CORP

  • HHA LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$19 · share of assets $876,520 · general or managing partner

    Directly controlled by HHA HOUSING CORP

  • HHM LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 0.01% owned · share of income -$6 · share of assets $1,070,558 · general or managing partner

    Directly controlled by HARVEY HEIGHTS MEREDITH CORPORATION

  • HISTORIC GALE SCHOOL LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 100% owned · general or managing partner

    Directly controlled by LACLT

  • HARRIMAN HILL THREE AFFORDABLE HOUSING LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · NH · 100% owned · general or managing partner

    Directly controlled by LACLT

Related corporations and trusts

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

  • LACLT CORP

    C · RENTAL REAL ESTATE · NH · 100% owned · share of income -$40

    Directly controlled by LACLT

  • EASTLACLT LLC

    C · RENTAL REAL ESTATE · NH · 51% owned · share of income -$5,571

    Directly controlled by LACLT CORP

  • WINNI RIVER HOUSING CORP

    C · RENTAL REAL ESTATE · NH · 100% owned · share of income -$15

    Directly controlled by LACLT

  • GVK3 HOUSING CORP

    C · RENTAL REAL ESTATE · NH · 88% owned · share of income -$9

    Directly controlled by LACLT

  • HHA HOUSING CORP

    C · RENTAL REAL ESTATE · NH · 100% owned · share of income -$19

    Directly controlled by LACLT

  • HARVEY HEIGHTS MEREDITH CORPORATION

    C · RENTAL REAL ESTATE · NH · 100% owned · share of income -$6

    Directly controlled by LACLT

  • BAY STREET APARTMENTS CORP

    C · RENTAL REAL ESTATE · NH · 100% owned · share of assets $1,662,253

    Directly controlled by LACLT

  • JAMESON STREET APARTMENTS CORP

    C · RENTAL REAL ESTATE · NH · 100% owned · share of assets $214,640

    Directly controlled by LACLT

  • HARRIMAN HILL APARTMENTS CORP

    C · RENTAL REAL ESTATE · NH · 100% owned

    Directly controlled by LACLT

  • HGS CORP

    C · RENTAL REAL ESTATE · NH · 100% owned

    Directly controlled by LACLT

Provenance

Return type
form_990
Tax year
2024
Filed
9 April 2025
IRS schema version
2024v5.1
Source object
202510999349300006

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