Lanesboro Housing Development Inc

Organization Overview

Lanesboro Housing Development Inc is located in Owatonna, MN. The organization was established in 1978. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Lanesboro Housing Development Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 12/2021, Lanesboro Housing Development Inc generated $260.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $236.4k during the year ending 12/2021. While expenses have increased by 0.9% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

ELDERLY HOUSING RENTAL

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE 34 ELDERLY HOUSING APARTMENT UNITS.


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Board, Officers & Key Employees

Name (title)Compensation
Elizabeth Mitchel
Secretary
$0
Julia Borgan
Vice President
$0
Dorothy Evenson
Treasurer
$0
Philip Dybing
President & CEO
$0
Dale Krage
Director
$0
Ed Taylor
Director
$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$260,361
Investment income $415
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 $260,776

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