Lakes Community Land Trust
- Assets
- $363.7k
- Revenue
- $79.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Spirit Lake, IA
- Founding
- Data as of
- 12/2018
- EIN
- 20-5146017
Organization Overview
Lakes Community Land Trust is located in Spirit Lake, IA. As of 12/2018, Lakes Community Land Trust employed 2 individuals. Lakes Community Land Trust 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 12/2018, Lakes Community Land Trust generated $79.1k in total revenue. All expenses for the organization totaled $103.9k during the year ending 12/2018.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2018
Describe the Organization's Mission:
Part 3 - Line 1
THE LAKES COMMUNITY LAND TRUST SUSTAINS SOCIAL AND ECONOMIC EQUITY AND A CLEAN ENVIRONMENT THROUGH LANDS HELD IN COMMON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING: LEASED ONE HOUSE TO A NON-PROFIT ORGANIZATION AS A WAIVER HOME FOR 3 MENTALLY DISABLED ADULTS. PROVIDED SERVICES TO LAND TRUST HOMEOWNERS.
ENVIRONMENTAL SUSTAINABILITY: RE-CYCLE BUILDING MATERIALS. HAVE KEPT MORE THAN 4,000,000 LBS FROM THE WASTE STREAM. PROVIDED AFFORDABLE HOME IMPROVEMENT MATERIALS TO AREA RESIDENTS. PROCEEDS FROM THE BUILDING MATERIALS RE-CYCLE STORE THAT ARE IN EXCESS OF EXPENSES HELP TO SUSTAIN THE OPERATIONS OF THE ORGANIZATION AND ITS PROGRAMS. INCOME FROM THE STORE IS PROGRAM REVENUE. ALL BUILDING MATERIALS ARE DONATED BUT NOT INVENTORIED. THUS THE VALUE OF THE DONATED MATERIALS ARE RECOGNIZED AS REVENUE RATHER THAN IN-KIND DONATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Brockmeyer President | OfficerTrustee | $0 | |
Lauri Holbrook Secretary/tr | OfficerTrustee | $0 | |
Laurie Ruf Director | OfficerTrustee | $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 | $78,789 |
| Investment income | $37 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $300 |
| 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 | $79,126 |
| 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 | $38,217 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,532 |
| Payroll taxes | $3,789 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,225 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $644 |
| Office expenses | $220 |
| Information technology | $2,501 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,499 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,415 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,473 |
| Insurance | $11,182 |
| All other expenses | $103 |
| Total functional expenses | $103,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,915 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50 |
| 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 | $357,697 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $363,662 |
| Accounts payable and accrued expenses | $23,734 |
| 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 | $194,324 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $218,058 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $145,604 |