Skip to content
Nonprofiteer
← MERCY HOUSING LAKEFRONT

Form 990 for tax year 2023

Filed by MERCY HOUSING LAKEFRONT.

Totals

Total revenue
$12,906,443
Total expenses
$23,523,823
Contributions and grants received
$4,836,975
Grants paid
$2,205,744
Program service revenue
$7,678,051
Investment income
$0
Other revenue
$391,417
Total assets, end of year
$70,422,506
Total liabilities, end of year
$66,629,784
Net assets or fund balances, end of year
$3,792,722
Program services expenses (Part IX)
$22,245,037
Management and general expenses
$5,474
Fundraising expenses
$1,273,312
Program service expenses (Part III)
$22,245,037

Program services were 94.6% 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.

  • 1c · Fundraising events

    $204,209

  • 1d · Related organizations

    $421,825

  • 1e · Government grants (contributions)

    $3,255,840

  • 1f · All other contributions, gifts and grants

    $955,101

  • 2a · Program service revenue: NET RENTAL REVENUE

    total $6,032,069 · related or exempt $6,032,069

  • 2b · Program service revenue: INTEREST ON NOTE RECEIVABLE

    total $914,315 · related or exempt $914,315

  • 2c · Program service revenue: SERVICE FEES

    total $731,667 · related or exempt $731,667

  • 6a · Gross rents

    real property $13,800

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $13,800

  • 6d · Net rental income or loss

    total $13,800 · excluded $13,800

  • 8a · Fundraising events: gross income

    $30,000

  • 8a · Fundraising events: contributions included on line 1c

    $204,209

  • 8b · Fundraising events: direct expenses

    $106,626

  • 8c · Net income from fundraising events

    total -$76,626 · excluded -$76,626

  • 11a · Other revenue: RECOVERY OF BAD DEBT

    total $172,675 · related or exempt $172,675

  • 11d · All other revenue

    total $281,568 · related or exempt $281,568

  • 11e · Other revenue, total

    $454,243

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,205,744 · program services $2,205,744

  • 11a · Fees: management

    total $519,485 · program services $519,485

  • 11b · Fees: legal

    total $3,129 · program services $3,129

  • 11c · Fees: accounting

    total $38,041 · program services $38,041

  • 11g · Fees: other

    total $7,424,507 · program services $6,835,492 · fundraising $589,015

  • 12 · Advertising and promotion

    total $6,710 · program services $443 · fundraising $6,267

  • 13 · Office expenses

    total $257,251 · program services $230,632 · fundraising $26,619

  • 14 · Information technology

    total $63,341 · program services $63,001 · fundraising $340

  • 16 · Occupancy

    total $3,918,761 · program services $3,918,689 · fundraising $72

  • 17 · Travel

    total $103,169 · program services $98,388 · fundraising $4,781

  • 19 · Conferences, conventions and meetings

    total $9,131 · program services $9,121 · fundraising $10

  • 22 · Depreciation, depletion and amortization

    total $891,843 · program services $891,843

  • 23 · Insurance

    total $24,087 · program services $21,702 · fundraising $2,385

  • 24a · Other expenses: LP INVESTMENT LOSSES

    total $3,058,376 · program services $3,058,376

  • 24b · Other expenses: INDIRECT COST

    total $2,064,312 · program services $1,839,459 · fundraising $224,853

  • 24c · Other expenses: DISCONTINUED PROJECT

    total $1,637,872 · program services $1,637,872

  • 24d · Other expenses: RESERVE FOR LOAN LOSSES

    total $685,931 · program services $685,931

  • 24e · All other expenses

    total $612,133 · program services $187,689 · management and general $5,474 · fundraising $418,970

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $524,503 · end of year $355,387

  • 3 · Pledges and grants receivable

    beginning of year $1,327,957 · end of year $356,791

  • 4 · Accounts receivable

    beginning of year $518,853 · end of year $46,285,347

  • 9 · Prepaid expenses and deferred charges

    beginning of year $247,130 · end of year $306,701

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

    $9,546,373

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

    $2,433,461

  • 10c · Land, buildings and equipment, net

    beginning of year $17,017,820 · end of year $7,112,912

  • 13 · Investments: program-related

    beginning of year -$18,999,096 · end of year -$22,001,473

  • 14 · Intangible assets

    end of year $1,007,741

  • 15 · Other assets

    beginning of year $46,620,021 · end of year $36,999,100

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,172,864 · end of year $2,882,461

  • 19 · Deferred revenue

    beginning of year $94,895 · end of year $63,861

  • 21 · Escrow or custodial account liability

    end of year $73,469

  • 23 · Secured mortgages and notes payable

    beginning of year $25,389,145 · end of year $24,875,670

  • 25 · Other liabilities

    beginning of year $5,185,959 · end of year $38,734,323

  • 27 · Net assets without donor restrictions

    beginning of year $10,444,026 · end of year $1,624,066

  • 28 · Net assets with donor restrictions

    beginning of year $3,970,299 · end of year $2,168,656

Mission and programs · 2023

Mission

THE MISSION OF MERCY HOUSING LAKEFRONT IS TO DIRECTLY FACILITATE THE PROVISION OF AFFORDABLE HOUSING TO FAMILIES, SENIORS, PEOPLE WITH SPECIAL NEEDS, HOMELESS AND POTENTIALLY HOMELESS INDIVIDUALS WHO WOULD OTHERWISE LACK THE FINANCIAL RESOURCES TO OBTAIN QUALITY, SAFE HOUSING. FURTHER, MERCY HOUSING LAKEFRONT PROVIDES A VARIETY OF FREE PROGRAMS AND SERVICES TO RESIDENTS OF THEIR AFFORDABLE HOUSING PROJECTS WHICH ARE DESIGNED TO IMPROVE THEIR LIVES AND THE COMMUNITIES IN WHICH THEY LIVE.

Activities or mission (Part I)

TO DEVELOP, OWN, AND OPERATE LOW-INCOME HOUSING AND PROVIDE SERVICES TO LOW-INCOME FAMILIES, ELDERLY, HANDICAPPED, HOMELESS, POTENTIALLY HOMELESS OR OTHERWISE DISADVANTAGED PERSONS.

  • RESIDENT SERVICES AND PROGRAMS ARE PROVIDED FREE OF CHARGE TO RESIDENTS OF LOW-INCOME MULTI-FAMILY RENTAL PROPERTIES INCLUDING FAMILIES, SENIORS, AND PEOPLE WITH SPECIAL NEEDS. THE RESIDENT SERVICES AND PROGRAMS FALL INTO FOUR PRIMARY AREAS - EDUCATION, COMMUNITY, HEALTH AND WELLNESS, AND ECONOMIC STABILITY. RESIDENT SERVICES AND PROGRAMS ARE TAILORED TO MEET THE NEEDS OF EACH LOW-INCOME HOUSING COMMUNITY, INCLUDING ASSESSMENTS AND CASE MANAGEMENT BY LICENSED SOCIAL WORKERS PROVIDED TO RESIDENTS IN PERMANENT SUPPORTIVE HOUSING COMMUNITIES; OTHER SIGNIFICANT EFFORTS INCLUDE SUPPORTIVE SERVICES TO SENIORS (BEHAVIORAL HEALTH) AND FINANCIAL COACHING FOR FAMILIES STRUGGLING WITH RENT PAYMENTS.

    Expenses $13,473,493 · Grants $2,205,744 · Revenue $6,313,637

  • HOUSING DEVELOPMENT PROGRAMS AND SERVICES INCLUDE ACQUIRING ACCEPTABLE LOCATIONS FOR EITHER NEW CONSTRUCTION OR REHABILITATION OF EXISTING PROPERTIES FOR MULTI-FAMILY RENTAL PROPERTIES AND SINGLE FAMILY HOUSING UNITS TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME RESIDENTS, OBTAINING FINANCING FOR THE DEVELOPMENT OF LOW-INCOME PROPERTIES AND HOUSING UNITS, AND MANAGING THE CONSTRUCTION AND/OR REHABILITATION OF LOW-INCOME PROPERTIES AND HOUSING UNITS THROUGH OBTAINING THE CERTIFICATION OF OCCUPANCY AND PROJECT COMPLETION.

    Expenses $7,273,834 · Revenue $1,086,990

  • ASSET MANAGEMENT SERVICES ARE PROVIDED TO LOW-INCOME MULTI-FAMILY RENTAL PROPERTIES AND INCLUDE PREPARING AND MANAGING ANNUAL OPERATING BUDGETS, PREPARING REPORTS FOR INVESTORS AND LENDERS, OVERSEEING THE PROPERTY MANAGEMENT SERVICES, AND ENSURING AND MONITORING COMPLIANCE TO MEET REGULATORY AND ELIGIBILITY REQUIREMENTS OF RESIDENTS.

    Expenses $1,497,710 · Revenue $731,667

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • KRISHNA RAMACHANDRAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEVE THOMAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RITU VIG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PHILLIP DESALVO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PHIL ASHTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAMELA SHARAR-STOPPEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MONICA MARTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARY FISHMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LINDSEY ARTOLA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TERESA MALTBY RSM DMN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JON STOLZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HENRY CRUMPTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GEORGE ADAMS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ESTHER MACCHIONE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DESIRE' HUNTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHESTER BELL JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TIFAIR HAMED

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRUCE SAAB

    VICE PRESIDENT

    Total calculated
    $98,303
    From this org
    $0
    From related orgs
    $84,979
    Other
    $13,324
    Hours/week
    1 + 40 related

  • MELISSA CLAYTON

    VICE PRESIDENT

    Total calculated
    $299,519
    From this org
    $0
    From related orgs
    $265,721
    Other
    $33,798
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $249,467 related
    Bonus
    $0 + $16,254 related
    Other
    $0
    Deferred
    $0 + $16,135 related
    Nontaxable benefits
    $0 + $17,663 related
    Filer's total
    $0 + $299,519 related

  • FATMAH FARRAJ

    VICE PRESIDENT

    Total calculated
    $177,119
    From this org
    $0
    From related orgs
    $164,559
    Other
    $12,560
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $164,559 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,951 related
    Nontaxable benefits
    $0 + $2,609 related
    Filer's total
    $0 + $177,119 related

  • CHAD PAYNE

    TREASURER

    Total calculated
    $200,685
    From this org
    $0
    From related orgs
    $192,189
    Other
    $8,496
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $191,289 related
    Bonus
    $0 + $900 related
    Other
    $0
    Deferred
    $0 + $7,670 related
    Nontaxable benefits
    $0 + $826 related
    Filer's total
    $0 + $200,685 related

  • JOE ROSENBLUM

    SECRETARY

    Total calculated
    $232,549
    From this org
    $0
    From related orgs
    $222,348
    Other
    $10,201
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $217,884 related
    Bonus
    $0 + $4,464 related
    Other
    $0
    Deferred
    $0 + $9,375 related
    Nontaxable benefits
    $0 + $826 related
    Filer's total
    $0 + $232,549 related

  • MARK ANGELINI

    PRESIDENT

    Total calculated
    $256,820
    From this org
    $0
    From related orgs
    $245,093
    Other
    $11,727
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $244,093 related
    Bonus
    $0 + $1,000 related
    Other
    $0
    Deferred
    $0 + $10,902 related
    Nontaxable benefits
    $0 + $825 related
    Filer's total
    $0 + $256,820 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
ANNUALLY THE EXECUTIVE COMMITTEE WITHIN THE MERCY HOUSING, INC. BOARD OF TRUSTEES WILL REVIEW EXECUTIVE SALARIES TO ENSURE COMPETITIVENESS WITH EXTERNAL MARKETS AND FOR INTERNAL EQUITY IN RELATION TO GENERAL EMPLOYEE WAGES AND BENEFITS, INDIVIDUAL AND ORGANIZATIONAL PERFORMANCE, AND THE FINANCIAL RESOURCES OF THE ORGANIZATION.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • JOHNSTON CENTER MM LLC

    LOW-INC HSNG · WI · income $0 · assets -$713

    Directly controlled by MERCY HOUSING LAKEFRONT

  • LAVERGNE COURTS LLC

    LOW-INC HSNG · IL · income $2,238,673 · assets $5,496,387

    Directly controlled by MERCY HOUSING LAKEFRONT

  • MERCY RIVER WEST COMMONS ELGIN LLC

    LOW-INC HSNG · IL · income $1,337,820 · assets $7,037,861

    Directly controlled by MERCY HOUSING LAKEFRONT

  • MHL HOLDINGS LLC

    LOW-INC HSNG · IL · income $4,050 · assets -$23,020,163

    Directly controlled by MERCY HOUSING LAKEFRONT

  • MHL MIRIAM APARTMENTS GP LLC

    LOW-INC HSNG · IL · income $3,854 · assets $1,833,411

    Directly controlled by MERCY HOUSING LAKEFRONT

  • SC RESIDENCE MM LLC

    LOW-INC HSNG · WI · income $38,802 · assets $645,282

    Directly controlled by MERCY HOUSING LAKEFRONT

  • WASHINGTON COURTS LLC

    LOW-INC HSNG · IL · income $1,631,015 · assets $4,248,540

    Directly controlled by MERCY HOUSING LAKEFRONT

  • WHITMORE APARTMENTS LLC

    LOW-INC HSNG · IL · income $917,790 · assets $1,312,514

    Directly controlled by MERCY HOUSING LAKEFRONT

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202403129349300310

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.