Lacasa Of Goshen Inc
- Assets
- $28.4m
- Revenue
- $5.5m
- Investments
- $905.2k
- Employees
- 46
- Location
- Goshen, IN
- Founding
- 11/1970
- Data as of
- 12/2022
- EIN
- 35-1554538
Organization Overview
Lacasa Of Goshen Inc, operating under the name Lacasa Inc, is located in Goshen, IN. The organization was established in 1970. 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. As of 12/2022, Lacasa Inc employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lacasa 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 12/2022, Lacasa Inc generated $5.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $4.2m during the year ending 12/2022. While expenses have increased by 4.3% per year over the past 8 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
LACASA WORKS WITH INDIVIDUALS AND COMMUNITY PARTNERS TO CREATE OPPORTUNITY FOR PERSONAL EMPOWERMENT, FAMILY STABILITY AND NEIGHBORHOOD VITALITY. THIS MISSION IS CARRIED OUT THROUGH REAL ESTATE DEVELOPMENT, ASSET AND PROPERTY MANAGEMENT, FINANCIAL EMPOWERMENT, AND COMMUNITY BUILDING AND ENGAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSET AND PROPERTY MANAGEMENT: MANAGES LEASING AND MAINTENANCE FOR ALL LACASA-OWNED RENTAL PROPERTY AND PROVIDES SAFE, ATTRACTIVE AND AFFORDABLE HOUSING TO LOW- AND MODERATE-INCOME FAMILIES. AS OF THE END OF 2022, LACASA OWNED AND MANAGED 344 RENTAL UNITS LOCATED IN THE CITIES OF GOSHEN AND ELKHART, INDIANA. DURING 2022, LACASA COMPLETED AN 8-UNIT, 4 DUPLEX (ONE HISTORIC REHAB AND 3 NEW CONSTRUCTION) PROJECT IN A HISTORIC ARTS DISTRICT NEIGHBORHOOD NEAR DOWNTOWN ELKHART.
COMMUNITY BUILDING & ENGAGEMENT: EMPOWERS NEIGHBORS TO ORGANIZE AND REVERSE TRENDS THAT CAUSE NEIGHBORHOODS TO DETERIORATE AND EXPERIENCE SOCIAL AND FINANCIAL DISINVESTMENT. COMMUNITY BUILDING AND ENGAGEMENT PROVIDES EDUCATION AND ENCOURAGES NEIGHBORHOOD RESIDENTS TO COLLABORATE WITH LACASA AND CITY/COUNTY OFFICIALS IN MAKING DECISIONS THAT AFFECT THEIR NEIGHBORHOODS. LACASA'S GOAL IS THAT NEIGHBORHOODS SELECTED FOR DEVELOPMENT BECOME SAFE AND ATTRACTIVE PLACES WHERE FAMILIES CHOOSE TO INVEST THEIR TIME, MONEY AND OTHER RESOURCES. IN 2022, LACASA CONTINUED ITS HISTORICAL WORK WITH MULTIPLE NEIGHBORHOODS IN GOSHEN AND WITH THE TOLSON NEIGHBORHOOD IN SOUTH-CENTRAL ELKHART.
REAL ESTATE DEVELOPMENT: MANAGES THE ACQUISITION OF PROPERTY, REHABILITATION AND/OR CONSTRUCTION OF HOUSING FOR RE-SALE TO HOMEBUYERS OR FOR LONG TERM RENTAL MANAGEMENT. DURING 2022, LACASA COMPLETED CONSTRUCTION ON 4 DUPLEXES IN ELKHART AND BEGAN REHABILITATION OF 7 SINGLE FAMILY UNITS IN GOSHEN, 4 OF WHICH ARE HISTORIC. LACASA COMPLETED AND SOLD ITS THIRD NEW CONSTRUCTION, FOR-SALE HOME IN A PILOT PROGRAM TO ASSESS THE USE OF MODULAR HOUSING TO REVITALIZE AGING AND UNDERSERVED NEIGHBORHOODS WITH NEW OWNER-OCCUPIED HOUSING. LACASA BEGAN CONSTRUCTION OF 8 FOR-SALE HOMES AS PART OF A PROGRAM DESIGNED TO IMPROVE THE QUALITY OF EXISTING HOUSING STOCK WHILE BENEFITING LOW-INCOME HOUSEHOLDS. FINALLY, AS PART OF LACASA'S HELP-A-HOUSE PROGRAM, 4 OWNER-OCCUPIED HOMES WERE REHABILITATED.
FINANCIAL EMPOWERMENT CENTER: WORKS WITH LOW- AND MODERATE-INCOME FAMILIES AND COMMUNITY PARTNERS TO PREPARE FOR, PROVIDE AND MAINTAIN HOMEOWNERSHIP. IN 2020, LACASA REDESIGNED AND REPACKAGED ITS FINANCIAL TRAINING CURRICULUM UNDER THE "MASTER IT" UMBRELLA WITH MASTER YOUR MONEY, MASTER HOMEOWNERSHIP, MASTER YOUR DEBT, AND MASTER YOUR CREDIT. THESE CLASSES WERE ALSO REFORMATTED FOR DELIVERY IN A VIRTUAL ENVIRONMENT IN RESPONSE TO THE PANDEMIC. IN 2022, THESE CLASSES GRADUATED 149, 110, 32, AND 93, RESPECTIVELY. LACASA OFFERS INDIVIDUAL DEVELOPMENT SAVINGS ACCOUNTS USED FOR HOMEOWNERSHIP, SECONDARY EDUCATION, TRANSPORTATION NEEDS OR TO START A BUSINESS. IN 2022, 18 HOMEOWNERSHIP CLASS GRADUATES PURCHASED HOMES. LACASA ALSO OFFERS ONE-ON-ONE INDIVIDUAL COUNSELING FOR PRE- AND POST-PURCHASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deb Jones Vice-Chair | Trustee | 0.8 | $0 |
Brett Weddell Chair | Trustee | 0.8 | $0 |
Amber Wolfer Treasurer | Trustee | 0.8 | $0 |
Linda Schlabach Miller Secretary | Trustee | 0.8 | $0 |
Eriberta Perez Board Member | Trustee | 0.8 | $0 |
Alison Romero Board Member | Trustee | 0.8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,492,231 |
| All other contributions, gifts, grants, and similar amounts not included above | $518,136 |
| Noncash contributions included in lines 1a–1f | $6,670 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,010,367 |
| Total Program Service Revenue | $1,973,556 |
| Investment income | $396,594 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,133 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,543,630 |
| 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. | $259,820 |
| Compensation of current officers, directors, key employees. | $105,020 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,179,574 |
| Pension plan accruals and contributions | $64,811 |
| Other employee benefits | $274,212 |
| Payroll taxes | $120,331 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,878 |
| Fees for services: Accounting | $32,455 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $116,500 |
| Advertising and promotion | $11,747 |
| Office expenses | $25,266 |
| Information technology | $109,451 |
| Royalties | $0 |
| Occupancy | $70,728 |
| Travel | $40,157 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,815 |
| Interest | $216,354 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $708,396 |
| Insurance | $216,174 |
| All other expenses | $79,175 |
| Total functional expenses | $4,234,534 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,209 |
| Savings and temporary cash investments | $1,873,292 |
| Pledges and grants receivable | $15,000 |
| Accounts receivable, net | $513,238 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,573,755 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $92,870 |
| Net Land, buildings, and equipment | $17,745,702 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $905,249 |
| Investments—program-related | $22,022 |
| Intangible assets | $1,385 |
| Other assets | $2,494,976 |
| Total assets | $28,426,698 |
| Accounts payable and accrued expenses | $565,089 |
| Grants payable | $91,704 |
| Deferred revenue | $11,917 |
| 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 | $5,035,227 |
| Unsecured mortgages and notes payable | $859,760 |
| Other liabilities | $136,746 |
| Total liabilities | $6,700,443 |
| Net assets without donor restrictions | $21,726,255 |
| 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 | $28,426,698 |