Parmly Lakeview Inc
- Assets
- $746.6k
- Revenue
- $623.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Shoreview, MN
- Founding
- 04/1988
- Data as of
- 12/2021
- EIN
- 26-3789732
Organization Overview
Parmly Lakeview Inc is located in Shoreview, MN. The organization was established in 1988. According to its NTEE Classification (S22) the organization is classified as: Neighborhood & Block Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Parmly Lakeview 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 12/2021, Parmly Lakeview Inc generated $623.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $637.5k during the year ending 12/2021. While expenses have increased by 1.2% 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
TO PROVIDE LOW INCOME HOUSING FOR THE ELDERLY AND DISABLED THROUGH A HUD-SPONSORED PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARMLY LAKEVIEW, INC. PROVIDES LOW INCOME HOUSING FOR THE ELDERLY THROUGH A HUD-SPONSORED 60-UNIT APARTMENT COMPLEX IN CHISAGO CITY, MINNESOTA. IN 2021, PARMLY LAKEVIEW, INC. HAD AN OCCUPANCY RATE OF 96.71%
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shelley Kendrick President & CEO | OfficerTrustee | 0.1 | $0 |
Emily Sommer Assistant Secretary | OfficerTrustee | 0.1 | $0 |
Morshed Alam Cfo, Secretary/treasurer | OfficerTrustee | 0.1 | $0 |
Mellanie Sullivan Sr VP And Chief People Officer | Trustee | 0.1 | $0 |
Bret Anderson Vice President | Trustee | 0.1 | $0 |
Scott Bjerketvedt Vice President | Trustee | 0.1 | $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 | $615,667 |
| Investment income | $136 |
| 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 | $623,901 |
| 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 | $151,426 |
| Pension plan accruals and contributions | $5,745 |
| Other employee benefits | $35,130 |
| Payroll taxes | $10,751 |
| Fees for services: Management | $45,407 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,918 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,728 |
| Advertising and promotion | $0 |
| Office expenses | $7,712 |
| Information technology | $6,253 |
| Royalties | $0 |
| Occupancy | $146,398 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $470 |
| Interest | $80,144 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $96,044 |
| Insurance | $16,716 |
| All other expenses | $1,137 |
| Total functional expenses | $637,536 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,079 |
| Savings and temporary cash investments | $256,622 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,206 |
| 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 | $1,839 |
| Net Land, buildings, and equipment | $440,425 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,400 |
| Total assets | $746,571 |
| Accounts payable and accrued expenses | $31,291 |
| Grants payable | $0 |
| Deferred revenue | $1,476 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $29,095 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,904,274 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $68,189 |
| Total liabilities | $2,034,325 |
| Net assets without donor restrictions | -$1,287,754 |
| 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 | $746,571 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Neighborhood House St Paul, MN | $15,235,722 | $7,956,172 |
Parmly Lakeview Inc Shoreview, MN | $746,571 | $623,901 |
Aurora-St Anthony Neighborhood Development Corporation Saint Paul, MN | $4,097,385 | $418,788 |
Sherman Park Community Association Inc Milwaukee, WI | $131,584 | $320,232 |
Kennedy Heights Neighborhood Association Inc Madison, WI | $307,972 | $387,589 |
Community Associations Institute Edina, MN | $720,037 | $447,152 |
Powderhorn Park Neighborhood Association Minneapolis, MN | $106,726 | $354,879 |
Webber-Camden Neighborhood Organization Minneapolis, MN | $74,313 | $0 |
Harrison Neighborhood Association Minneapolis, MN | $175,002 | $307,528 |
Atlas Of West Central Minnesota Willmar, MN | $191,627 | $0 |
Rice Lake Main Street Association Inc Rice Lake, WI | $37,607 | $126,134 |
Kingfield Neighborhood Association Minneapolis, MN | $343,218 | $205,407 |