Luther Court Inc
- Assets
- $1.3m
- Revenue
- $437.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Cranberry Township, PA
- Founding
- 06/1987
- Data as of
- 06/2023
- EIN
- 25-1527660
Organization Overview
Luther Court Inc is located in Cranberry Township, PA. The organization was established in 1987. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Luther Court 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 06/2023, Luther Court Inc generated $437.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $517.4k during the year ending 06/2023. While expenses have increased by 13.8% per year over the past 8 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
2023
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
LUTHER COURT OWNS AND OPERATES AN APARTMENT COMPLEX OF 55-UNITS UNDER SECTION 202 OF THE NATIONAL HOUSING ACT, IN CONJUNCTION WITH PASSAVANT RETIREMENT AND HEALTH CENTER. LUTHER COURT IS MANAGED BY PASSAVANT RETIREMENT AND HEALTH CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David J Fenoglietto CEO And Chair | OfficerTrustee | 1 | $0 |
Chris Jordheim Director | OfficerTrustee | 1 | $0 |
Rev Angela Smith Secretary | OfficerTrustee | 1 | $0 |
George Ehringer Vice Chair | OfficerTrustee | 1 | $0 |
Rev Brian Evans Treasurer | OfficerTrustee | 1 | $0 |
John Miller 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $436,344 |
| Investment income | $461 |
| 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 | $437,000 |
| 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 | $105,553 |
| Pension plan accruals and contributions | $498 |
| Other employee benefits | $27,666 |
| Payroll taxes | $4,152 |
| Fees for services: Management | $32,340 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,204 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,025 |
| Advertising and promotion | $0 |
| Office expenses | $6,759 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $115,295 |
| Travel | $5,092 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,878 |
| Interest | $55,096 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,695 |
| Insurance | $46,105 |
| All other expenses | $7,972 |
| Total functional expenses | $517,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120 |
| Savings and temporary cash investments | $447,890 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,031 |
| 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 | $45,797 |
| Net Land, buildings, and equipment | $470,233 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $316,220 |
| Total assets | $1,281,291 |
| Accounts payable and accrued expenses | $32,502 |
| 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 | $1,436,196 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $62,734 |
| Total liabilities | $1,531,432 |
| Net assets without donor restrictions | -$250,141 |
| 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 | $1,281,291 |