Lakeview Apartments Inc
- Assets
- $833.1k
- Revenue
- $74.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Paragould, AR
- Founding
- 04/2006
- Data as of
- 06/2022
- EIN
- 20-4398465
Organization Overview
Lakeview Apartments Inc is located in Paragould, AR. The organization was established in 2006. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Lakeview Apartments Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakeview Apartments 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 06/2022, Lakeview Apartments Inc generated $74.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $126.7k during the year ending 06/2022. 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
THE ORGANIZATION'S ONLY ACTIVITY IS THE OPERATION OF A FEDERALLY SUBSIDIZED APARTMENT COMPLEX FOR LOW INCOME TENANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OPERATION OF LAKEVIEW APARTMENTS, A FEDERALLY SUBSIDIZED APARTMENT COMPLEX FOR LOW INCOME TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glen Burnett Chairman | Trustee | $0 | |
Neeley Camp Commissioner | Trustee | $0 | |
Karen Cooper Commissioner | Trustee | $0 | |
Debbie Cross Vice Chairma | Trustee | $0 | |
Bill Mccartney Sec/treasure | Trustee | $0 | |
Jr Risen Commissioner | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $15,347 |
| 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 | $15,347 |
| Total Program Service Revenue | $59,438 |
| Investment income | $11 |
| 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 | $74,796 |
| 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 | $13,913 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,435 |
| Fees for services: Management | $8,125 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,808 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,471 |
| 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 | $250 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $57,833 |
| Insurance | $4,431 |
| All other expenses | $2,089 |
| Total functional expenses | $126,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $146 |
| 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 | $2,559 |
| Net Land, buildings, and equipment | $785,181 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,253 |
| Total assets | $833,139 |
| Accounts payable and accrued expenses | $10,537 |
| 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 | $4,514 |
| Total liabilities | $15,051 |
| Net assets without donor restrictions | $818,088 |
| 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 | $833,139 |