Larue Development Corporation
- Assets
- $216.2k
- Revenue
- $137.7k
- Investments
- $0.0
- Employees
- 3
- Location
- La Rue, OH
- Founding
- 10/1973
- Data as of
- 12/2021
- EIN
- 23-7284122
Organization Overview
Larue Development Corporation is located in La Rue, OH. The organization was established in 1973. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Larue Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Larue Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Larue Development Corporation generated $137.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $127.2k during the year ending 12/2021. While expenses have increased by 0.5% 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
THE MISSION IS TO PROVIDE AFFORDABLE APARTMENTS TO MEDIUM AND LOW INCOME SENIOR CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE 36 ONE AND TWO BEDROOM APARTMENTS TO MEDIUM AND LOW INCOME SENIOR CITIZENS. MONTHLY RENTS ARE ABOUT $275 FOR ONE BEDROOM AND $325 FOR TWO BEDROOM APARTMENTS, WHICH INCLUDES WATER AND SEWER. THE APARTMENT COMPLEX INCLUDES LAUNDRY FACILITIES AND A SOCIAL HALL FOR TENANTS' RECREATIONAL ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Myers V.president,trustee | OfficerTrustee | 1 | $0 |
Anita Major Secretary, Trustee | OfficerTrustee | 0.75 | $0 |
Pam Clawson Treas,bkkpr,trustee | OfficerTrustee | 10 | $0 |
Danise Stallsmith President, Trustee | OfficerTrustee | 2 | $0 |
Jeffrey Wall Maintenance Mgr | Officer | 3 | $0 |
Meredith Farson Trustee | Trustee | 0.5 | $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 | $132,107 |
| Investment income | $30 |
| 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 | $137,737 |
| 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. | $11,949 |
| Compensation of current officers, directors, key employees. | $6,900 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,840 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $290 |
| Advertising and promotion | $0 |
| Office expenses | $625 |
| Information technology | $168 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $429 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,867 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,541 |
| Insurance | $27,794 |
| All other expenses | $0 |
| Total functional expenses | $127,167 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,114 |
| Savings and temporary cash investments | $12,690 |
| 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 | $154,175 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,190 |
| Other assets | $0 |
| Total assets | $216,169 |
| Accounts payable and accrued expenses | $651 |
| 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 | $194,613 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $195,264 |
| Net assets without donor restrictions | $0 |
| 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 | $20,905 |
| Total liabilities and net assets/fund balances | $216,169 |
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