Prairie Lake Estates Homeowners Cooperative
- Assets
- $4.4m
- Revenue
- $509.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Kenosha, WI
- Founding
- 11/2014
- Data as of
- 12/2022
- EIN
- 32-0403047
Organization Overview
Prairie Lake Estates Homeowners Cooperative is located in Kenosha, WI. The organization was established in 2014. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Prairie Lake Estates Homeowners Cooperative 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 12/2022, Prairie Lake Estates Homeowners Cooperative generated $509.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $417.2k during the year ending 12/2022. While expenses have increased by 0.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LOW INCOME AFFORDABLE HOUSING WITHOUT PREJUDICE, WITH FINANCIAL RELIEF, ASSISTANCE, AND OPPORTUNITY TO RAISE THE STANDARD OF LIVING FOR FAMILIES AND FIXED INCOME RETIREES IN A SAFE AND STABLE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AFFORDABLE HOUSING ON A COOPERATIVE BASIS FOR VERY-LOW, LOW, AND MODERATE INCOME RESIDENTS, ELIMINATE PREJUDICE AND DISCRIMINATION, AND COMBAT COMMUNITY DETERIORATION, PROVIDE FINANCIAL RELIEF, ASSISTANCE, AND OPPORTUNITY FORA BETTER QUALITY OF LIFE IN A SAFE AND SECURE COMMUNITY WITHOUT PREJUDICE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teri Burns Secretary | OfficerTrustee | $0 | |
Bill Glidden Vice Preside | OfficerTrustee | $0 | |
Gary Hansen Director, Op | Trustee | $0 | |
Julie Harmon Treasurer | OfficerTrustee | $0 | |
Mike Huber Director At | Trustee | $0 | |
Randy Richie Director At | 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 | $503,900 |
| Investment income | $512 |
| 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 | $509,477 |
| 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 | $0 |
| Fees for services: Legal | $5,060 |
| Fees for services: Accounting | $7,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,950 |
| Advertising and promotion | $0 |
| Office expenses | $4,392 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $123,571 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $184,603 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,587 |
| Insurance | $3,868 |
| All other expenses | $0 |
| Total functional expenses | $417,223 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,101 |
| Savings and temporary cash investments | $242,911 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,983 |
| 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 | $2,517 |
| Net Land, buildings, and equipment | $3,954,187 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $240,824 |
| Total assets | $4,449,523 |
| Accounts payable and accrued expenses | $9,352 |
| 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 | $3,499,305 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $92,440 |
| Total liabilities | $3,601,097 |
| Net assets without donor restrictions | $848,426 |
| 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 | $4,449,523 |