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Nonprofiteer
← Seven Lebanon Street Inc

Form 990 for tax year 2024

Filed by Seven Lebanon Street Inc.

Totals

Total revenue
$1,593,222
Total expenses
$1,477,145
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,547,246
Investment income
$0
Other revenue
$45,976
Total assets, end of year
$8,111,918
Total liabilities, end of year
$8,697,602
Net assets or fund balances, end of year
-$585,684
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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 from related organizations

    total $1,547,246 · related or exempt $1,547,246

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $318,943

  • 6b · Less rental expenses

    real property $302,915

  • 6c · Rental income or loss

    real property $16,028 · personal property $0

  • 6d · Net rental income or loss

    total $16,028 · related or exempt $16,028

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Easement

    total $29,948 · related or exempt $29,948

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $29,948

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $70,428

  • 11g · Fees: other

    total $0

  • 16 · Occupancy

    total $916,818

  • 20 · Interest

    total $237,177

  • 22 · Depreciation, depletion and amortization

    total $208,412

  • 23 · Insurance

    total $15,677

  • 24a · Other expenses: Miscellaneous expenses

    total $28,633

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0

  • 4 · Accounts receivable

    beginning of year $18,951 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0

  • 8 · Inventories for sale or use

    beginning of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $89,550 · end of year $77,854

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

    $13,431,028

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

    $5,396,964

  • 10c · Land, buildings and equipment, net

    beginning of year $7,240,052 · end of year $8,034,064

  • 11 · Investments: publicly traded securities

    beginning of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $111,116 · end of year $1,269,352

  • 18 · Grants payable

    beginning of year $0

  • 19 · Deferred revenue

    beginning of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $9,178 · end of year $9,178

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $7,930,021 · end of year $7,419,072

  • 24 · Unsecured notes and loans payable

    beginning of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $100 · end of year $100

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year -$4,079,688 · end of year -$4,079,688

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,377,826 · end of year $3,493,904

Mission and programs · 2024

Mission

The corporation is organized for the exclusive purpose of acquiring, holding title to, managing and leasing real property, collecting the income from real property and remitting the entire amount thereof, less expenses, to its shareholders, each of whom must be an organization described in Section 501(c)(25)(c) of the code, and incurring acquisition indebtedness using the real property as collateral, and executing any mortgage, note, contract or obligation necessary or convenient to carry out the foregoing.

Activities or mission (Part I)

Seven Lebanon Street, Inc.'s sole purpose is to hold title to property located at 7 Lebanon Street in Hanover, NH. The corporation generates rental income that is distributed to Trustees of Dartmouth College, its sole member.

  • The corporation has been organized for the exclusive purpose of acquiring real property, holding title to and collecting income from such property, and remitting the entire amount of income from such property (less expenses) to Trustees of Dartmouth College.

As filed on the 2024 return.

Listed in Part VII

  • Daniel Justynski

    Vice President

    Total calculated
    $226,287
    From this org
    $0
    From related orgs
    $206,092
    Other
    $20,195
    Hours/week
    0.8 + 39.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,492 related
    Bonus
    $0
    Other
    $0 + $600 related
    Deferred
    $0 + $18,635 related
    Nontaxable benefits
    $0 + $1,560 related
    Filer's total
    $0 + $226,287 related

  • Dianne Ingalls

    Secretary

    Total calculated
    $398,019
    From this org
    $0
    From related orgs
    $355,504
    Other
    $42,515
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $342,458 related
    Bonus
    $0 + $12,500 related
    Other
    $0 + $546 related
    Deferred
    $0 + $29,869 related
    Nontaxable benefits
    $0 + $12,646 related
    Filer's total
    $0 + $398,019 related

  • Joshua Keniston

    President

    Total calculated
    $729,018
    From this org
    $0
    From related orgs
    $699,001
    Other
    $30,017
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $673,551 related
    Bonus
    $0 + $25,000 related
    Other
    $0 + $450 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $5,867 related
    Filer's total
    $0 + $729,018 related

  • Stephen LeBlanc

    Treasurer

    Total calculated
    $65,908
    From this org
    $0
    From related orgs
    $35,992
    Other
    $29,916
    Hours/week
    0.8 + 19.2 related

  • Jessica Jones

    Director

    Total calculated
    $1,341,419
    From this org
    $0
    From related orgs
    $1,290,212
    Other
    $51,207
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $477,362 related
    Bonus
    $0 + $811,461 related
    Other
    $0 + $1,389 related
    Deferred
    $0 + $31,050 related
    Nontaxable benefits
    $0 + $20,157 related
    Filer's total
    $0 + $1,341,419 related

  • Michael R Sullivan

    Director

    Total calculated
    $1,084,156
    From this org
    $0
    From related orgs
    $1,044,402
    Other
    $39,754
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $437,584 related
    Bonus
    $0 + $605,654 related
    Other
    $0 + $1,164 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $15,604 related
    Filer's total
    $0 + $1,084,156 related

  • Robert Scott Frew

    Director

    Total calculated
    $640,296
    From this org
    $0
    From related orgs
    $593,686
    Other
    $46,610
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $578,436 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $250 related
    Deferred
    $0 + $31,050 related
    Nontaxable benefits
    $0 + $15,560 related
    Filer's total
    $0 + $640,296 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3
All salaries included in Form 990 Part VII and in Schedule J are paid by Trustees of Dartmouth College.

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.

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.

  • FARMSTEAD TR HOLDINGS LLC

    N/A · Investments · NJ

    Directly controlled by NA

Related corporations and trusts

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

  • Charitable Remainder Unitrusts

    Trust · Fundraising/Development · NH

    Directly controlled by NA

  • Pooled Income Funds

    Trust · Fundraising/Development · NH

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
25 November 2025
IRS schema version
2024v5.1
Source object
202513299349300721

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