Laverna Terrace Housing Corporation

Organization Overview

Laverna Terrace Housing Corporation, operating under the name Provena Laverna Terrace, is located in Mokena, IL. The organization was established in 1946. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, under the broad grouping of Health Care and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Provena Laverna Terrace 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 06/2021, Provena Laverna Terrace generated $460.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (15.9%) each year. All expenses for the organization totaled $574.9k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE AFFORDABLE HOUSING FACILITIES FOR LOW-INCOME ELDERLY AND HANDICAPPED INDIVIDUALS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION PROVIDES AFFORDABLE HOUSING TO LOW-INCOME SENIOR INDIVIDUALS. THE ORGANIZATION OWNS & OPERATES A 51 UNIT APARTMENT COMMUNITY. THE RENTS CHARGED TO TENANTS ARE SUBSIDIZED AND REGULATED BY THE U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT. AS PART OF THE ASCENSION CATHOLIC HEALTH MINISTRY, THE FILING ORGANIZATION SERVED IN SUPPORT OF ASCENSION'S COMMITMENT TO BOTH CARE FOR PATIENTS AND COMMUNITIES AND SUPPORT CAREGIVERS AND OTHER ASSOCIATES THROUGH THE CHALLENGES OF THE COVID-19 GLOBAL PANDEMIC IN 2020 & 2021. THE APARTMENT COMMUNITY WAS CLASSIFIED AS HELD FOR SALE AS OF MAY 31, 2021.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Board, Officers & Key Employees

Name (title)Compensation
Daniel Stricker
President & Ceo, Ascension Living
$681,760
Joan Bachleitner
Secretary
$602,349
David Bordo
Board Member
$444,146
Michael Gordon
CFO
$418,029
Karen Lauer
Board Member
$198,462
Andrea Ohman
Treasurer
$179,600

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $252,236
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$252,236
Total Program Service Revenue$206,683
Investment income $262
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 $459,956

Create an account to unlock the data you need.

or