Lee Elderly Housing Corporation
- Assets
- $1.3m
- Revenue
- $577.1k
- Investments
- $749.3k
- Employees
- 0
- Location
- Pittsfield, MA
- Founding
- 10/1983
- Data as of
- 12/2021
- EIN
- 22-2472999
Organization Overview
Lee Elderly Housing Corporation is located in Pittsfield, MA. The organization was established in 1983. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lee Elderly Housing 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 12/2021, Lee Elderly Housing Corporation generated $577.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $572.7k during the year ending 12/2021. While expenses have increased by 2.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW INCOME HOUSING FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES 41 UNITS OF LOW INCOME HOUSING FOR THE ELDERLY. SECTION 8 RENTAL ASSISTANCE IS AVAILABLE FOR EVERY APARTMENT IN THE PROJECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paula Gangel-Miller President/clerk | OfficerTrustee | 0 | $0 |
Marilyn Kelly Board VP | OfficerTrustee | 0 | $0 |
Pam Naventi Board Member | Trustee | 0 | $0 |
Don Hunter Board Member | Trustee | 0 | $0 |
Dianna Stringer Board Member | Trustee | 0 | $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 | $576,472 |
| Investment income | $580 |
| 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 | $577,052 |
| 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 | $98,382 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,232 |
| Payroll taxes | $6,276 |
| Fees for services: Management | $36,896 |
| Fees for services: Legal | $540 |
| Fees for services: Accounting | $10,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $168 |
| Office expenses | $3,540 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $50,409 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $94,641 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,355 |
| Insurance | $25,597 |
| All other expenses | $64,183 |
| Total functional expenses | $572,660 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $29,861 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,786 |
| 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 | $6,251 |
| Net Land, buildings, and equipment | $527,796 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $749,317 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,449 |
| Total assets | $1,326,460 |
| Accounts payable and accrued expenses | $62,344 |
| Grants payable | $0 |
| Deferred revenue | $6,217 |
| 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 | $1,453,730 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $59,315 |
| Total liabilities | $1,581,606 |
| Net assets without donor restrictions | -$255,146 |
| 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 | $1,326,460 |
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Israel Senior Citizens Housing Development Fund Corp New York, NY | $56,551,856 | $8,736,330 |
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Colgate Palmolive Post Retirement Veba Tr New York, NY | $1,964,886 | $6,599,849 |
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