Glocester Housing Authority Laurel Crest
- Assets
- $1.7m
- Revenue
- $555.5k
- Investments
- $0.0
- Employees
- 3
- Location
- Chepachet, RI
- Founding
- 00/0000
- Data as of
- 06/2024
- EIN
- 05-0388521
Organization Overview
Glocester Housing Authority Laurel Crest is located in Chepachet, RI. The organization was established in 0000. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 06/2024, Glocester Housing Authority Laurel Crest employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Glocester Housing Authority Laurel Crest is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2024, Glocester Housing Authority Laurel Crest generated $555.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $629.8k during the year ending 06/2024. While expenses have increased by 1.9% per year over the past 6 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING TO LOW AND MODERATE INCOME PEOPLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David F Palmisciano Chairman | Trustee | 1 | $0 |
Leanna Poirer Secretary | Trustee | 1 | $0 |
Bonnie Cutter Co-Chair | Trustee | 1 | $0 |
Glenn Sherman Treasurer | Trustee | 1 | $0 |
Eric Bither Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $540,510 |
| Investment income | $58 |
| 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 | $555,544 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $64,272 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,063 |
| Payroll taxes | $14,877 |
| Fees for services: Management | $29,440 |
| Fees for services: Legal | $300 |
| Fees for services: Accounting | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $648 |
| Office expenses | $13,418 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $110,911 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $116,000 |
| Insurance | $16,899 |
| All other expenses | $7,476 |
| Total functional expenses | $629,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,394 |
| Savings and temporary cash investments | $649,160 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $998,335 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,744,889 |
| Accounts payable and accrued expenses | $6,308 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $3,052,486 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $557,518 |
| Total liabilities | $3,616,312 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | -$1,871,423 |
| Total liabilities and net assets/fund balances | $1,744,889 |