Luther Court Inc
- Assets
- $1.4m
- Revenue
- $434.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Cranberry Township, PA
- Founding
- 06/1987
- Data as of
- 06/2021
- 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 06/2021, Luther Court Inc generated $434.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 17.5% each year . All expenses for the organization totaled $396.3k during the year ending 06/2021. While expenses have increased by 13.7% per year over the past 6 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
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 |
Donna Van Kirk VP Systems Development | OfficerTrustee | 1 | $0 |
Jeffrey L Carraway CFO | OfficerTrustee | 1 | $0 |
Rev Ron Brown Treasurer | OfficerTrustee | 1 | $0 |
Jeannette Christensen Secretary | OfficerTrustee | 1 | $0 |
Laura Roy Executive Director - Left 2021 | 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 | $436,015 |
| Investment income | $452 |
| 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 | $434,939 |
| 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 | $68,361 |
| Pension plan accruals and contributions | $387 |
| Other employee benefits | $25,887 |
| Payroll taxes | $2,319 |
| Fees for services: Management | $33,330 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,043 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,900 |
| Advertising and promotion | $2,786 |
| Office expenses | $5,607 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $90,850 |
| Travel | $1,628 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $35,032 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,486 |
| Insurance | $35,980 |
| All other expenses | $12 |
| Total functional expenses | $396,262 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120 |
| Savings and temporary cash investments | $731,944 |
| 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 | $24,637 |
| Net Land, buildings, and equipment | $360,494 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $308,991 |
| Total assets | $1,426,186 |
| Accounts payable and accrued expenses | $41,023 |
| 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 | $1,480,727 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $38,382 |
| Total liabilities | $1,560,132 |
| Net assets without donor restrictions | -$133,946 |
| 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 | $1,426,186 |
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Corporation For Supportive Housing New York, NY | $191,922,281 | $44,983,722 |
Arundel Community Development Services Inc Annapolis, MD | $42,935,600 | $33,111,572 |
Community Options New York Inc Princeton, NJ | $30,057,554 | $34,330,215 |
Lantern Community Services Inc New York, NY | $8,603,902 | $30,172,757 |
Pathstone Corporation Rochester, NY | $88,645,469 | $21,347,590 |
1260 Housing Development Corporation Philadelphia, PA | $75,955,661 | $16,577,131 |
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |