Lowell Area Housing
- Assets
- $2.1m
- Revenue
- $609.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Lowell, MI
- Founding
- 06/1971
- Data as of
- 12/2023
- EIN
- 38-1945437
Organization Overview
Lowell Area Housing is located in Lowell, MI. The organization was established in 1971. 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. Lowell Area Housing 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 12/2023, Lowell Area Housing generated $609.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $499.2k during the year ending 12/2023. While expenses have increased by 1.8% per year over the past 9 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE AFFORDABLE HOUSING FOR SENIOR AND DISABLED CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Pfaller President | 4 | $0 | |
Jim Hodges Vice Preside | 2 | $0 | |
Terra Bieneman Treasurer/ma | 30 | $30,385 | |
Don Dubbink Trustee | 1 | $0 | |
Erni Bundy Trustee | 1 | $0 | |
Brad Brillhart Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $105,524 |
| Interest on Savings | $1,054 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $502,976 |
| Total Revenue | $609,554 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,385 |
| Other employee salaries and wages | $70,775 |
| Pension plans, employee benefits | $7,688 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $143,451 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $240,563 |
| Total operating and administrative expenses | $499,226 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $499,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,689 |
| Savings and temporary cash investments | $636,212 |
| Net Accounts receivable | $16,795 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,448,097 |
| Other assets | $0 |
| Total assets | $2,115,793 |
| Accounts payable and accrued expenses | $3,230 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $27,357 |
| Total liabilities | $30,587 |