Maximum Accessible Housing-Lake
- Assets
- $1.0m
- Revenue
- $366.1k
- Investments
- $0.0
- Employees
- 11
- Location
- Cleveland, OH
- Founding
- 03/1993
- Data as of
- 09/2021
- EIN
- 34-1712575
Organization Overview
Maximum Accessible Housing-Lake, operating under the name Lake Vistas Apartments, is located in Cleveland, OH. The organization was established in 1993. As of 09/2021, Lake Vistas Apartments employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Vistas Apartments 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 09/2021, Lake Vistas Apartments generated $366.1k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $342.0k during the year ending 09/2021. While expenses have increased by 3.0% 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 ACCESSIBLE HOUSING FOR LOW-INCOME PEOPLE WITH MOBILITY DISABILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ACCESSIBLE, AFFORDABLE HOUSING FOR LOW-INCOME PEOPLE WITH MOBILITY DISABILITIES. OPERATES A 24-UNIT APARTMENT BUILDING UNDER SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT, REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Hansler President | Officer | 8.25 | $22,301 |
David M Loomis Chairperson | OfficerTrustee | 0.4 | $0 |
Brian Iorio Secretary | OfficerTrustee | 0.3 | $0 |
Brian Corrigan Vice Chairperson | OfficerTrustee | 0.3 | $0 |
Mike Smolko Treasurer | OfficerTrustee | 0.5 | $0 |
John Cotman Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $264,738 |
| 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 | $264,738 |
| Total Program Service Revenue | $97,577 |
| Investment income | $102 |
| 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 | $366,076 |
| 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. | $26,743 |
| Compensation of current officers, directors, key employees. | $15,145 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,467 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,836 |
| Payroll taxes | $7,617 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,629 |
| Advertising and promotion | $3,154 |
| Office expenses | $12,798 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $65,403 |
| Travel | $1,832 |
| 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 | $49,257 |
| Insurance | $20,334 |
| All other expenses | $0 |
| Total functional expenses | $341,994 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,348 |
| Savings and temporary cash investments | $252,490 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,210 |
| 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 | $1,955 |
| Net Land, buildings, and equipment | $735,978 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,038,981 |
| Accounts payable and accrued expenses | $44,219 |
| 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 | $1,498,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,746 |
| Total liabilities | $1,549,965 |
| Net assets without donor restrictions | -$510,984 |
| 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 | $1,038,981 |
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Pine Lake Fund Plainwell, MI | $1,887,391 | $1,254,351 |
Disability Network Lakeshore Holland, MI | $944,262 | $1,270,593 |
Lucy Idol Center Inc Vermilion, OH | $2,468,437 | $1,362,124 |
Creative Living Inc Columbus, OH | $4,155,829 | $760,385 |
Tri-County Independent Living Center Inc Akron, OH | $1,040,907 | $637,573 |
Monongalia County Society For Disabled Children And Adults Morgantown, WV | $1,685,443 | $376,114 |
Maximum Accessible Housing-Lake Cleveland, OH | $1,038,981 | $366,076 |