Lha Enterprise Development Inc
- Assets
- $1.0m
- Revenue
- $40.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Laurel, MS
- Founding
- 08/2009
- Data as of
- 12/2021
- EIN
- 20-4597332
Organization Overview
Lha Enterprise Development Inc is located in Laurel, MS. The organization was established in 2009. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lha Enterprise Development 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 12/2021, Lha Enterprise Development Inc generated $40.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (21.8%) each year. All expenses for the organization totaled $304.7k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
LHA ENTERPRISE DEVELOPMENT, INC. IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, SCIENTIFIC, MEDICAL, LITERARY OR EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED AS AN INSTRUMENTALITY OF AND TO SUPPORT THE HOUSING AUTHORITY OF THE CITY OF LAUREL, MISSISSIPPI (THE AUTHORITY), A PUBLIC HOUSING AUTHORITY ESTABILISHED UNDER (I) THE MISSISSIPPI HOUSING AUTHORITIES LAW, AND (II) THE MISSISSIPPI SUPPLEMENTAL HOUSING AUTHORITIES LAW TO PROVIDE DECENT, SAFE AND SANITARY URBAN OR RURAL DWELLINGS, APARTMENTS, OR OTHER LIVING ACCOMMODATIONS FOR PERSONS OF LOW INCOME; INCLUDING THE ACQUISITION, DEVELOPMENT, CONSTRUCTION AND OPERATION OF BUILDINGS, LAND, EQUIPMENT, FACILITIES, AND OTHER REAL OR PERSONAL PROPERTY FOR NECESSARY, CONVENIENT, OR DESIRABLE APPURTENANCES, STREETS, SEWERS, WATER SERVICE, PARKS, SITE PREPARATION, GARDENING, ADMINISTRATIVE, COMMUNITY, HEALTH, RECREATIONAL, WELFARE OR OTHER PURPO
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev George Barnes Vice Preside | Officer | $0 | |
Ailrick Young President | Officer | $0 | |
Hilary Burroughs Director | Trustee | $0 | |
George Carter Director | Trustee | $0 | |
Sandy Holifield Director | Trustee | $0 | |
Jonathan Strickler Director | Trustee | $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 | $0 |
| Investment income | $463 |
| 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 | $40,245 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $35,000 |
| Fees for services: Legal | $7,230 |
| Fees for services: Accounting | $185 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $58,627 |
| Advertising and promotion | $0 |
| Office expenses | $64 |
| 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 | $0 |
| Payments to affiliates | $198,512 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $304,652 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $601,509 |
| Savings and temporary cash investments | $0 |
| 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 | $212,250 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $200,000 |
| Total assets | $1,013,759 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,013,759 |
| 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 | $1,013,759 |
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