Chrysalis Lutheran Homes Inc
- Assets
- $1.2m
- Revenue
- $585.8k
- Investments
- $0.0
- Employees
- 11
- Location
- Grand Island, NE
- Founding
- 06/1978
- Data as of
- 08/2022
- EIN
- 47-0600604
Organization Overview
Chrysalis Lutheran Homes Inc is located in Grand Island, NE. The organization was established in 1978. 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. As of 08/2022, Chrysalis Lutheran Homes Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chrysalis Lutheran Homes Inc 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 08/2022, Chrysalis Lutheran Homes Inc generated $585.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $632.5k during the year ending 08/2022. While expenses have increased by 1.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ELDERLY AND LOW-INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION WAS ORGANIZED TO CONSTRUCT AND OPERATE AN APARTMENT COMPLEX OF 72 UNITS UNDER SECTION 21218 OF THE NATIONAL HOUSING ACT. IT OFFERS HUD-ASSISTED HOUSING TO ELDERLY AND LOW-INCOME TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duane Burns President | Trustee | 2 | $0 |
Phyllis Eriksen Vice Preside | Trustee | $0 | |
Karen Niedfelt Secretary | Trustee | $0 | |
Gary Tank Member Of Bo | Trustee | $0 | |
Dennis Harder Member Of Bo | Trustee | $0 | |
Louann Phipps Member Of Bo | Trustee | $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 | $573,407 |
| Investment income | $414 |
| 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 | $585,818 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $93,647 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,440 |
| Payroll taxes | $7,325 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,678 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,894 |
| Office expenses | $15,682 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $122,848 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,399 |
| Interest | $49,678 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $131,007 |
| Insurance | $53,990 |
| All other expenses | $56,595 |
| Total functional expenses | $632,452 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45 |
| Savings and temporary cash investments | $120,497 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $150 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,041,747 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $79,321 |
| Total assets | $1,241,760 |
| Accounts payable and accrued expenses | $31,448 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,760,351 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,280 |
| Total liabilities | $1,813,079 |
| Net assets without donor restrictions | -$663,029 |
| Net assets with donor restrictions | $91,710 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,241,760 |