Lemon Street Development Corporation
- Assets
- $9.0m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Marietta, GA
- Founding
- 02/2011
- Data as of
- 12/2021
- EIN
- 26-1380120
Organization Overview
Lemon Street Development Corporation is located in Marietta, GA. The organization was established in 2011. 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. Lemon Street 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, Lemon Street Development Corporation generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.7% each year . All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 3.0% 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
DEVELOP, FOSTER, MANAGE, AND OTHERWISE FACILITATE,DIRECTLY OR INDIRECTLY THROUGH OTHER ENTITIES, THE PROVISION OF HOUSING FOR LOW INCOME PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP, FOSTER, MANAGE, AND OTHERWISE FACILITATE,DIRECTLY OR INDIRECTLY THROUGH OTHER ENTITIES, THE PROVISION OF HOUSING FOR LOW INCOME PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Wright Vp/sec/treas | Officer | 14 | $0 |
Marion Waldrep Key Emp, Ed | Officer | 0 | $0 |
Noel Taylor President | Officer | 26 | $0 |
Ken Dollar Chair | Trustee | $0 | |
Mitch Hunter Director | Trustee | $0 | |
Diana Simmons Director | Trustee | $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 | $4,264,013 |
| Investment income | $7,741 |
| 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 | $4,271,754 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $756,236 |
| Fees for services: Legal | $6,243 |
| Fees for services: Accounting | $21,555 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,692 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,402 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $11,896 |
| All other expenses | $22,148 |
| Total functional expenses | $1,009,644 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,816,799 |
| Savings and temporary cash investments | $257,450 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $142,389 |
| 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 | $6,606 |
| Net Land, buildings, and equipment | $750,758 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,974,002 |
| Accounts payable and accrued expenses | $802,017 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $802,017 |
| Net assets without donor restrictions | $8,171,985 |
| 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 | $8,974,002 |
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