Lincoln Village Preservation Corporation
- Assets
- $11.2m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 45
- Location
- Huntsville, AL
- Founding
- 06/2004
- Data as of
- 06/2022
- EIN
- 20-0379279
Organization Overview
Lincoln Village Preservation Corporation is located in Huntsville, AL. The organization was established in 2004. 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 06/2022, Lincoln Village Preservation Corporation employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lincoln Village Preservation Corporation 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 06/2022, Lincoln Village Preservation Corporation generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $1.9m during the year ending 06/2022. While expenses have increased by 2.7% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING AND EDUCATION TO RESIDENTS OF LINCOLN VILLAGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
LINCOLN VILLAGE PRESERVATION CORPORATION OWNS RENTAL HOUSING UNITS THAT HAVE BEEN REFURBISHED WITH THE HELP OF VOLUNTEER LABOR AND ARE LEASED AT BELOW MARKET RATES FOR THE BENEFIT OF THE RESIDENTS OF LINCOLN MILL VILLAGE.
IN 2012, THE CORPORATION PURCHASED A FAILED TITLE 1 PUBLIC ELEMENTARY SCHOOL BUILDING IN THE LINCOLN MILL VILLAGE AREA AND ESTABLISHED AN EDUCATIONAL ACADEMY WITH MINIMAL TUITION FOR THE BENEFIT OF ELEMENTARY STUDENTS ORIGINALLY ZONED FOR THAT SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Bence Vice-President/treasurer | OfficerTrustee | 4 | $0 |
Steve Hill President | OfficerTrustee | 4 | $0 |
Sam Yeager Director | Trustee | 2 | $0 |
Warne Heath Director | Trustee | 2 | $0 |
Rica Mcroy Director | Trustee | 2 | $0 |
Audrey Starks Director | Trustee | 2 | $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 | $3,912,842 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,912,842 |
| Total Program Service Revenue | $155,394 |
| Investment income | -$49,107 |
| 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 | $4,041,684 |
| 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 | $1,231,860 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $85,543 |
| Payroll taxes | $56,588 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,543 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,045 |
| Advertising and promotion | $0 |
| Office expenses | $19,861 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $80,426 |
| Travel | $7,325 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $95,638 |
| Insurance | $38,180 |
| All other expenses | $53,823 |
| Total functional expenses | $1,869,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $874,668 |
| Savings and temporary cash investments | $3,256,411 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $949 |
| 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 | $3,810,872 |
| Investments—publicly traded securities | $3,261,943 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,480 |
| Total assets | $11,225,323 |
| Accounts payable and accrued expenses | $113,365 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,590,144 |
| Total liabilities | $3,703,509 |
| Net assets without donor restrictions | $6,230,402 |
| Net assets with donor restrictions | $1,291,412 |
| 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 | $11,225,323 |