Rise Ltd Development Corporation
- Assets
- $157.0k
- Revenue
- $70.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Elkader, IA
- Founding
- 08/1986
- Data as of
- 06/2022
- EIN
- 42-1233462
Organization Overview
Rise Ltd Development Corporation is located in Elkader, IA. The organization was established in 1986. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rise Ltd Development Corporation 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 06/2022, Rise Ltd Development Corporation generated $70.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $63.5k during the year ending 06/2022. While expenses have increased by 3.1% per year over the past 6 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
RISE DEVELOPMENT CORP PROVIDES SECTION 8 HUD SUBSIDIZED HOUSING IN A 10-UNIT GROUP HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allan Nelson Chair | 1 | $0 | |
Robert Hankey Vice-Chair | 1 | $0 | |
Audie Baumgartner Director (through March 2022) | 1 | $0 | |
Jade Beck Director | 1 | $0 | |
Courtney Vorwald Director | 1 | $0 | |
Steve Bunn Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $24 |
| 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 | $69,930 |
| Total Revenue | $69,954 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $5,167 |
| Pension plans, employee benefits | $0 |
| Interest | $9,404 |
| Taxes | $0 |
| Depreciation | $8,981 |
| Occupancy | $20,744 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,191 |
| Total operating and administrative expenses | $63,471 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $63,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,244 |
| Savings and temporary cash investments | $35,851 |
| Net Accounts receivable | $0 |
| 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 | $118,879 |
| Other assets | $0 |
| Total assets | $156,974 |
| Accounts payable and accrued expenses | $874 |
| Grants payable | $0 |
| Deferred revenue | $6,358 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $110,133 |
| Other liabilities | $21,601 |
| Total liabilities | $138,966 |
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