Luminest Inc
- Assets
- $5.0m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 37
- Location
- Chambersburg, PA
- Founding
- 11/2002
- Data as of
- 12/2023
- EIN
- 20-0001916
Organization Overview
Luminest Inc is located in Chambersburg, PA. The organization was established in 2002. 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, Luminest Inc employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Luminest Inc 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, Luminest Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 20.0% per year over the past 9 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
TO PROVIDE DECENT HOUSING THAT IS AFFORDABLE TO LOW AND MODERATE INCOME PEOPLE AND SUCH OTHER ACTIVITIES AS THE PENNSYLVANIA NOT-FOR-PROFIT LAW MAY ALLOW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION IS THE GENERAL PARTNER AND/OR DEVELOPER IN SEVERAL AFFORDABLE HOUSING PROJECTS. THE ORGANIZATION HAS ALSO SPONSORED OTHER AFFORDABLE HOUSING INITIATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexandra Sipe Chair | OfficerTrustee | 0.25 | $0 |
Annette Searfoss Vice Chair | OfficerTrustee | 0.25 | $0 |
Michelle Lane Secretary | OfficerTrustee | 0.25 | $0 |
John Blubaugh Director | Trustee | 0.25 | $0 |
Shanon Warren Director | Trustee | 0.25 | $0 |
Stephanie Mcllwee Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $271,993 |
| All other contributions, gifts, grants, and similar amounts not included above | $100 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $272,093 |
| Total Program Service Revenue | $1,102,101 |
| Investment income | $83,051 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$39,372 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,418,445 |
| 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. | $240,793 |
| Compensation of current officers, directors, key employees. | $37,735 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $317,575 |
| Pension plan accruals and contributions | $16,668 |
| Other employee benefits | $81,837 |
| Payroll taxes | $39,174 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,590 |
| Fees for services: Accounting | $5,790 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,820 |
| Fees for services: Other | $29,307 |
| Advertising and promotion | $2,432 |
| Office expenses | $11,923 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,895 |
| Travel | $2,468 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $33,576 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,311 |
| Insurance | $7,898 |
| All other expenses | $3,269 |
| Total functional expenses | $1,342,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $370,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $821,555 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $170,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,848 |
| Net Land, buildings, and equipment | $597,513 |
| Investments—publicly traded securities | $930,989 |
| Investments—other securities | $0 |
| Investments—program-related | $291,643 |
| Intangible assets | $0 |
| Other assets | $1,785,892 |
| Total assets | $4,976,540 |
| Accounts payable and accrued expenses | $54,463 |
| Grants payable | $0 |
| Deferred revenue | $332,605 |
| 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 | $125,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $700 |
| Total liabilities | $512,768 |
| Net assets without donor restrictions | $4,463,772 |
| 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 | $4,976,540 |