L B S H Housing Corp
- Assets
- $1.2m
- Revenue
- $546.3k
- Investments
- $0.0
- Employees
- 5
- Location
- Brasher Falls, NY
- Founding
- 05/1988
- Data as of
- 12/2023
- EIN
- 16-1159720
Organization Overview
L B S H Housing Corp is located in Brasher Falls, NY. The organization was established in 1988. 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, L B S H Housing Corp employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. L B S H Housing Corp 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, L B S H Housing Corp generated $546.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $598.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 8 years. 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
TO PROVIDE LOW-INCOME HOUSING FOR ELDERLY AND HANDICAPPED PEOPLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION PROVIDES 60 SUBSIDIZED RENTAL UNITS TO LOW-INCOME ELDERLY AND HANDICAPPED PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jordan Arquitt Vice President | OfficerTrustee | 5 | $0 |
Jay Kilcoyne President | OfficerTrustee | 5 | $0 |
Christiana Deforge Secretary/treasurer | OfficerTrustee | 5 | $0 |
Constance Burns Member | Trustee | 5 | $0 |
Margaret Ramsdell Member | Trustee | 5 | $0 |
Nathaniel Lagarry Executive Director | Officer | 40 | $73,473 |
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 | $544,879 |
| Investment income | $1,439 |
| 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 | $546,318 |
| 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. | $73,473 |
| Compensation of current officers, directors, key employees. | $73,473 |
| Compensation to disqualified persons | $131,672 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,559 |
| Payroll taxes | $18,832 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,415 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,024 |
| Advertising and promotion | $3,174 |
| Office expenses | $14,616 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $65,612 |
| Travel | $623 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,829 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $110,305 |
| Insurance | $82,639 |
| All other expenses | $39,791 |
| Total functional expenses | $598,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,655 |
| Savings and temporary cash investments | $289,538 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,516 |
| 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 | $13,869 |
| Net Land, buildings, and equipment | $892,986 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,216,564 |
| Accounts payable and accrued expenses | $53,611 |
| Grants payable | $0 |
| Deferred revenue | $31 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $19,384 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $545,434 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $618,460 |
| Net assets without donor restrictions | $598,104 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,216,564 |