New Life Estates Ltd
- Assets
- $124.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Algona, IA
- Founding
- 03/1980
- Data as of
- 12/2023
- EIN
- 42-1135285
Organization Overview
New Life Estates Ltd is located in Algona, IA. The organization was established in 1980. 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. New Life Estates Ltd 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 12/2023, New Life Estates Ltd generated $81.7k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $80.5k during the year ending 12/2023. While expenses have increased by 5.8% per year over the past 5 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
TO PROVIDE LOW RENT HOUSING FOR THE ELDERLY, DISABLED, AND FAMILIES. RENT IS BASED ON 30% OF THE APPLICANT'S YEARLY INCOME WITH THE REMAINDER SUBSIDIZED BY USDA/RURAL DEVELOPMENT. THIS ORGANIZATION MADE IT POSSIBLE FOR 12 FAMILIES TO FIND SAFE AND AFFORDABLE HOUSING IN FOREST CITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Bilyeu President | 0 | $0 | |
Kathy Rohlfsen Vice President | 0 | $0 | |
Darin Theel Secretary/treasurer | 0 | $0 | |
Steve Bakke Director | 0 | $0 | |
Scott Wilson Director | 0 | $0 | |
Eric Guth Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $72,334 |
| Membership dues | $0 |
| Investment income | $2 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $9,342 |
| Total Revenue | $81,678 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $4,500 |
| Professional fees and other payments to independent contractors | $8,440 |
| Occupancy, rent, utilities, and maintenance | $45,149 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $22,370 |
| Total expenses | $80,459 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $11,890 |
| Other assets | $0 |
| Total assets | $124,139 |
| Total liabilities | $46,649 |
| Net assets or fund balances | $77,490 |