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Nonprofiteer
← LORETTA VILLAGE HOUSING INC

Form 990 for tax year 2022

Filed by LORETTA VILLAGE HOUSING INC.

Totals

Total revenue
$150,186
Total expenses
$165,370
Contributions and grants received
$89,351
Grants paid
$0
Program service revenue
$56,202
Investment income
$1,220
Other revenue
$3,413
Total assets, end of year
$476,684
Total liabilities, end of year
$44,280
Net assets or fund balances, end of year
$432,404
Program services expenses (Part IX)
$106,630
Management and general expenses
$58,740
Fundraising expenses
$0
Program service expenses (Part III)
$106,630

Program services were 64.5% 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)

    $89,351

  • 2a · Program service revenue: RENTAL INCOME

    total $56,202 · related or exempt $56,202

  • 3 · Investment income

    total $1,220 · related or exempt $1,220

  • 11a · Other revenue: OTHER

    total $3,413 · related or exempt $3,413

  • 11e · Other revenue, total

    $3,413

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $44,075 · program services $12,903 · management and general $31,172

  • 8 · Pension plan contributions

    total $3,531 · program services $1,034 · management and general $2,497

  • 9 · Other employee benefits

    total $7,256 · program services $2,453 · management and general $4,803

  • 10 · Payroll taxes

    total $3,259 · program services $954 · management and general $2,305

  • 11c · Fees: accounting

    total $9,303 · management and general $9,303

  • 12 · Advertising and promotion

    total $1 · program services $1

  • 13 · Office expenses

    total $447 · program services $94 · management and general $353

  • 16 · Occupancy

    total $10,660 · program services $10,660

  • 22 · Depreciation, depletion and amortization

    total $55,002 · program services $55,002

  • 23 · Insurance

    total $4,363 · program services $4,363

  • 24a · Other expenses: BUILDING AND GROUNDS

    total $7,850 · program services $7,850

  • 24b · Other expenses: TAXES AND LICENSES

    total $7,615 · program services $7,615

  • 24c · Other expenses: MANAGEMENT FEE

    total $6,743 · management and general $6,743

  • 24d · Other expenses: TRASH AND CLEANING

    total $1,813 · program services $1,813

  • 24e · All other expenses

    total $3,452 · program services $1,888 · management and general $1,564

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,386 · end of year $65,933

  • 2 · Savings and temporary cash investments

    beginning of year $83,606 · end of year $100,605

  • 4 · Accounts receivable

    beginning of year $60 · end of year $5,898

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

    $1,456,969

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

    $1,160,057

  • 10c · Land, buildings and equipment, net

    beginning of year $350,159 · end of year $296,912

  • 15 · Other assets

    beginning of year $7,359 · end of year $7,336

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,828 · end of year $39,089

  • 25 · Other liabilities

    beginning of year $5,154 · end of year $5,191

  • 27 · Net assets without donor restrictions

    beginning of year $363,975 · end of year $343,338

  • 28 · Net assets with donor restrictions

    beginning of year $83,613 · end of year $89,066

Mission and programs · 2022

Mission

TO PROVIDE SAFE AND AFFORDABLE LOW COST HOUSING AND ASSISTANCE TO THE ELDERLY OF THE COMMUNITY

  • TO PROVIDE LOW COST HOUSING AND ASSISTANCE TO THE ELDERLY OF THE COMMUNITY

    Expenses $106,630 · Revenue $60,835

As filed on the 2022 return.

Listed in Part VII

  • Freddy L Mitchell

    EXECUTIVE DIRECTOR

    Total calculated
    $172,214
    From this org
    $0
    From related orgs
    $160,992
    Other
    $11,222
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0 + $160,992 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $11,222 related
    Filer's total
    $0 + $172,214 related

  • Tyrone Chase

    CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Elroy Brittingham

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • McKinley Tull

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Elmira Brown

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • William Barclay

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

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.

Provenance

Return type
form_990
Tax year
2022
Filed
29 January 2024
IRS schema version
2022v5.0
Source object
202410449349301701

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