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Nonprofiteer
← LT C-II INC

Form 990 for tax year 2022

Filed by LT C-II INC.

Totals

Total revenue
$89,720
Total expenses
$177,645
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$88,203
Investment income
$51
Other revenue
$1,466
Total assets, end of year
$312,967
Total liabilities, end of year
$875,957
Net assets or fund balances, end of year
-$562,990
Program services expenses (Part IX)
$141,856
Management and general expenses
$35,789
Fundraising expenses
$0
Program service expenses (Part III)
$141,856

Program services were 79.9% 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 RECEIPTS

    total $44,922 · related or exempt $44,922

  • 2b · Program service revenue: TENANT ASSISTANCE PAYM

    total $43,281 · related or exempt $43,281

  • 3 · Investment income

    total $51 · excluded $51

  • 11a · Other revenue: LAUNDRY AND VENDING IN

    total $1,466 · related or exempt $1,466

  • 11e · Other revenue, total

    $1,466

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $28,114 · program services $28,114

  • 9 · Other employee benefits

    total $390 · program services $390

  • 10 · Payroll taxes

    total $2,488 · program services $2,488

  • 11a · Fees: management

    total $17,219 · management and general $17,219

  • 11c · Fees: accounting

    total $11,938 · management and general $11,938

  • 16 · Occupancy

    total $37,089 · program services $37,089

  • 22 · Depreciation, depletion and amortization

    total $18,878 · program services $18,878

  • 23 · Insurance

    total $9,395 · program services $9,395

  • 24a · Other expenses: RESIDUAL RECEIPT EXPENS

    total $40,780 · program services $40,780

  • 24b · Other expenses: ADMINISTRATIVE EXPENSES

    total $6,632 · management and general $6,632

  • 24c · Other expenses: SUPPLIES

    total $2,587 · program services $2,587

  • 24d · Other expenses: TAXES AND PERMITS

    total $2,135 · program services $2,135

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $497 · end of year $1,580

  • 4 · Accounts receivable

    beginning of year $538 · end of year $980

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,390 · end of year $1,390

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

    $843,893

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

    $567,989

  • 10c · Land, buildings and equipment, net

    beginning of year $294,782 · end of year $275,904

  • 15 · Other assets

    beginning of year $81,932 · end of year $33,113

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,674 · end of year $24,097

  • 24 · Unsecured notes and loans payable

    beginning of year $846,700 · end of year $846,700

  • 25 · Other liabilities

    beginning of year $3,830 · end of year $5,160

  • 27 · Net assets without donor restrictions

    beginning of year -$475,065 · end of year -$562,990

Mission and programs · 2022

Mission

SECTION 811 HOUSING

Activities or mission (Part I)

SECTION 811 HOUSING.

  • THE ORGANIZATION OWNS AND MAINTAINS A 20 UNIT SECTION 811 HOUSING PROJECT

    Expenses $141,856 · Revenue $89,669

As filed on the 2022 return.

Listed in Part VII

  • Hank Milius

    PRESIDENT

    Total calculated
    $1,021,048
    From this org
    $0
    From related orgs
    $860,437
    Other
    $160,611
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $639,498 related
    Bonus
    $0 + $150,600 related
    Other
    $0 + $70,339 related
    Deferred
    $0 + $113,933 related
    Nontaxable benefits
    $0 + $46,678 related
    Filer's total
    $0 + $1,021,048 related

  • Lisa Suttle

    VICE PRESIDENT

    Total calculated
    $274,510
    From this org
    $0
    From related orgs
    $246,765
    Other
    $27,745
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $193,587 related
    Bonus
    $0 + $36,800 related
    Other
    $0 + $16,378 related
    Deferred
    $0 + $10,318 related
    Nontaxable benefits
    $0 + $17,427 related
    Filer's total
    $0 + $274,510 related

  • Teri Grimes

    SECRETARY

    Total calculated
    $92,693
    From this org
    $0
    From related orgs
    $73,676
    Other
    $19,017
    Hours/week
    1

  • Scott Riggs

    TREASURER

    Total calculated
    $369,080
    From this org
    $0
    From related orgs
    $319,536
    Other
    $49,544
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $251,750 related
    Bonus
    $0 + $48,000 related
    Other
    $0 + $19,786 related
    Deferred
    $0 + $13,725 related
    Nontaxable benefits
    $0 + $35,819 related
    Filer's total
    $0 + $369,080 related

  • Julie Newhouse

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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.

  • MERIDIAN SERVICES CORP

    501(C)(3) · TO PROMOTE AND IMPROVE THE MENTAL HEALTH AND QUALITY OF LIFE OF INDIVIDUALS · IN

  • LTC INC

    501(C)(3) · TO PROVIDE AFFORABLE HOUSING TO THE ELDERLY · IN

Provenance

Return type
form_990
Tax year
2022
Filed
7 December 2023
IRS schema version
2022v5.0
Source object
202440169349301304

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