Lincoln-Westmoreland Housing Inc
- Assets
- $36.6m
- Revenue
- $935.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 04/1970
- Data as of
- 03/2022
- EIN
- 52-0894269
Organization Overview
Lincoln-Westmoreland Housing Inc is located in Washington, DC. The organization was established in 1970. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., 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. Lincoln-Westmoreland Housing 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 03/2022, Lincoln-Westmoreland Housing Inc generated $935.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $436.5k during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 7 years. 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
TO PROVIDE QUALITY, AFFORDABLE RENTAL HOUSING TO LOW INCOME RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP AND OPERATE TWO RENTAL APARTMENT BUILDINGS THAT PROVIDE QUALITY, AFFORDABLE HOUSING TO LOW INCOME RESIDENTS UNDER REGULATORY AGREEMENTS WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon L Bartholomew Vice-Preside | Officer | $0 | |
Karen J Hammond Treasurer | Officer | $0 | |
David E Jacobs President | Officer | $0 | |
Pamela Mertz Secretary | Officer | $0 | |
Annette T Adams-Beckford Director | Trustee | $0 | |
Sarah Goodwin Director | 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 | $0 |
| Investment income | $537,615 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $262,610 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $935,271 |
| 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 | $4,343 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $5,293 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $178 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,932 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $436,477 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $396,024 |
| Savings and temporary cash investments | $1,315,675 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,250 |
| 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 | $8,608,339 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,686,419 |
| Intangible assets | $0 |
| Other assets | $15,541,237 |
| Total assets | $36,561,944 |
| Accounts payable and accrued expenses | $114,439 |
| 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 | $8,443,110 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,557,549 |
| Net assets without donor restrictions | $28,004,395 |
| Net assets with donor restrictions | $0 |
| 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 | $36,561,944 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baltimore Regional Housing Partnership Inc Baltimore, MD | $17,869,604 | $87,260,949 |
Medstar Ambulatory Services Inc Columbia, MD | $191,556,915 | $22,068,997 |
Oxford House Inc Silver Spring, MD | $6,662,269 | $22,312,565 |
Dogwood Housing Inc North Bethesda, MD | $86,669,090 | $22,202,788 |
Abraham And Laura Lisner Home For Aged Women Washington, DC | $22,620,580 | $13,905,589 |
National Low Income Housing Coalition And Low Income Housing Washington, DC | $13,467,381 | $12,702,610 |
National Foundation For Affordable Housing Solutions Inc North Bethesda, MD | $263,616,606 | $53,198,670 |
Magnolia Housing Inc North Bethesda, MD | $6,233,975 | $1,178,678 |
Prologue Inc Baltimore, MD | $8,569,201 | $6,794,698 |
Jubilee Housing Inc Washington, DC | $81,340,567 | $5,811,871 |
Mason Housing Inc Fairfax, VA | $24,839,248 | $3,905,662 |
The House Inc Woodbridge, VA | $1,787,552 | $4,341,712 |