Laconia Area Community Land Trust
- Assets
- $16.1m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 8
- Location
- Laconia, NH
- Founding
- 07/1990
- Data as of
- 12/2023
- EIN
- 02-0426348
Organization Overview
Laconia Area Community Land Trust, operating under the name Lakes Region Community Developers, is located in Laconia, NH. The organization was established in 1990. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Lakes Region Community Developers employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakes Region Community Developers is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Lakes Region Community Developers generated $3.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $2.0m during the year ending 12/2023. While expenses have increased by 4.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Corey Hoyt Chair | OfficerTrustee | 2 | $0 |
Carrie Duran Vice Chair | OfficerTrustee | 2 | $0 |
Lori Borin Treasurer | OfficerTrustee | 2 | $0 |
Lisa Mure Secretary | OfficerTrustee | 2 | $0 |
Erica Gilbert Board Member | Trustee | 2 | $0 |
Chris Dickinson Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Martini Northern Llc General Contractor | 12/30/20 | $115,694 |
Solid Roots Construction General Contractor | 12/30/20 | $214,071 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $953,572 |
| All other contributions, gifts, grants, and similar amounts not included above | $929,394 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,882,966 |
| Total Program Service Revenue | $1,074,209 |
| Investment income | $44,198 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,001,373 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $78,530 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $139,041 |
| Compensation of current officers, directors, key employees. | $24,652 |
| Compensation to disqualified persons | $448,831 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $13,661 |
| Other employee benefits | $76,362 |
| Payroll taxes | $44,146 |
| Fees for services: Management | $72,852 |
| Fees for services: Legal | $2,913 |
| Fees for services: Accounting | $30,509 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,675 |
| Advertising and promotion | $23,645 |
| Office expenses | $22,499 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $654,086 |
| Travel | $3,187 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $10,958 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $226,179 |
| Insurance | $66,833 |
| All other expenses | $1,958 |
| Total functional expenses | $2,043,643 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $246,928 |
| Savings and temporary cash investments | $1,525,162 |
| Pledges and grants receivable | $2,374,091 |
| Accounts receivable, net | $577,993 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,983,985 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $72,821 |
| Net Land, buildings, and equipment | $7,023,501 |
| Investments—publicly traded securities | $478,709 |
| Investments—other securities | $0 |
| Investments—program-related | $1,065,264 |
| Intangible assets | $1,923 |
| Other assets | $722,631 |
| Total assets | $16,073,008 |
| Accounts payable and accrued expenses | $50,661 |
| Grants payable | $0 |
| Deferred revenue | $26,871 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,980,185 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $77,325 |
| Total liabilities | $4,135,042 |
| Net assets without donor restrictions | $9,507,148 |
| Net assets with donor restrictions | $2,430,818 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,073,008 |