R L C Corp
- Assets
- $7.5m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 17
- Location
- Atlanta, GA
- Founding
- 07/1975
- Data as of
- 12/2021
- EIN
- 23-7092822
Organization Overview
R L C Corp is located in Atlanta, GA. The organization was established in 1975. 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 12/2021, R L C Corp employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. R L C Corp 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, R L C Corp generated $3.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $3.0m during the year ending 12/2021. While expenses have increased by 5.8% 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
SINCE 1972 LUTHERAN TOWERS HAS BEEN FULFILLING ITS CRITICAL MISSION TO PROVIDE AN AFFORDABLE, QUALITY HOME WITH PERSON-CENTERED SUPPORTIVE SERVICES THAT EMPOWER ITS RESIDENTS TO THRIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED A QUALITY AFFORDABLE HOME WITH PERSON-CENTERED SUPPORTIVE SERVICES AND RECREATIONAL ACTIVITIES FOR LOW-INCOME ELDERLY BY OPERATING A 205 UNIT APARTMENT COMMUNITY REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT IN MIDTOWN ATLANTA, GEORGIA. MAINTAINING AN ENVIROMENT WHERE OUR RESIDENTS CAN SUCCESSFULLY AND HAPPILY AGE IN PLACE IS AT THE HEART OF ALL WE DO. GUIDED BY THIS PHILOSOPHY, WE HELPED ALLEVIATE LONELINESS, HELPLESSNESS AND BOREDOM BY ENSURING EACH RESIDENT ENJOYS A LOVING COMPANIONSHIP WITH FAMILY, FRIENDS AND PETS; PURPOSEFUL LIVES WITH OPPORTUNITIES TO GROW, LEARN AND GIVE; ACTIVITIES THAT ARE MEANINGFUL TO THEM; INTERGENERATIONAL ACTIVITIES; SELF-DIRECTED, PERSONALIZED CARE AND SUPPORT; AND ACCESS TO CREDENTIALED AND CARING STAFF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nichelle Mitchem Executive Director | 40 | $124,000 | |
Sue Mccart Vice President | OfficerTrustee | 1 | $0 |
James Summer III President | OfficerTrustee | 1 | $0 |
Paul Isaacson Treasurer | OfficerTrustee | 1 | $0 |
Lisa Wayco Secretary | OfficerTrustee | 1 | $0 |
Hannah Farhadi Director | Trustee | 1 | $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 | $204,429 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $204,429 |
| Total Program Service Revenue | $3,261,188 |
| Investment income | $120 |
| 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 | $3,473,713 |
| 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 | $686,389 |
| Pension plan accruals and contributions | $104,800 |
| Other employee benefits | $171,769 |
| Payroll taxes | $65,717 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,929 |
| Fees for services: Accounting | $21,095 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,127 |
| Advertising and promotion | $9,648 |
| Office expenses | $116,316 |
| 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 | $45,642 |
| Interest | $58,245 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $405,261 |
| Insurance | $107,501 |
| All other expenses | $107,891 |
| Total functional expenses | $3,032,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,785,255 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $131,350 |
| 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 | $28,837 |
| Net Land, buildings, and equipment | $4,736,258 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $780,076 |
| Total assets | $7,461,776 |
| Accounts payable and accrued expenses | $174,749 |
| 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 | $1,447,962 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $56,421 |
| Total liabilities | $1,679,132 |
| Net assets without donor restrictions | $5,782,644 |
| 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 | $7,461,776 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that R L C Corp has recieved totaling $67,274.
| Awarding Organization | Amount |
|---|---|
Atlanta Community Food Bank Inc Atlanta, GA PURPOSE: SEE PART IV | $25,116 |
Second Helpings Atlanta Inc Atlanta, GA PURPOSE: FEED THE FOOD INSECURE | $24,102 |
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $7,423 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $5,633 |
Atlanta Community Food Bank Inc Atlanta, GA PURPOSE: SEE PART IV | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Andrews Residence Of The Diocese Of Southeast Florida Inc West Palm Beach, FL | $295,539 | $24,065,641 |
Cypress Of Charlotte Club Inc Charlotte, NC | $4,602,507 | $19,033,502 |
Lavender Mountain Senior Living Inc Mount Berry, GA | $141,195,331 | $5,176,789 |
Cypress Club Inc Hilton Head Island, SC | $31,122,152 | $20,067,120 |
Westminster Pines Inc Orlando, FL | $103,132,021 | $15,458,662 |
Skidaway Health And Living Services Inc Savannah, GA | $89,340,251 | $17,567,308 |
Lake Prince Center Inc Newton, NC | $22,105,583 | $13,762,352 |
Palm Shores Retirement Community Inc Orlando, FL | $37,421,751 | $16,521,390 |
St George Village-Catholic Community Retirement Center Roswell, GA | $71,436,640 | $13,654,810 |
Wesley Homes Inc Atlanta, GA | $20,385,914 | $13,715,520 |
Tampa Life Plan Village Inc Tampa, FL | $57,175,002 | $4,514,952 |
Jewish Home Life Communities Inc Atlanta, GA | $30,539,364 | $15,353,434 |