L & T Affordable Housing Urban Renewal Corporation
- Assets
- $1.8m
- Revenue
- $712.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Cliffside Park, NJ
- Founding
- Data as of
- 12/2021
- EIN
- 84-4675709
Organization Overview
L & T Affordable Housing Urban Renewal Corporation is located in Cliffside Park, NJ. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, 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. L & T Affordable Housing Urban Renewal 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 12/2021, L & T Affordable Housing Urban Renewal Corporation generated $712.1k in total revenue. All expenses for the organization totaled $180.1k during the year ending 12/2021. While expenses have increased by 469.1% per year over the past 2 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AND MANAGE HOUSING FOR LOW AND MODERATE INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING FOR LOW AND MODERATE INCOME FAMILIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Seranfin Craig Chair Person | Trustee | 1 | $0 |
Thomas Haralampoudis Trustee | Trustee | 1 | $0 |
Elizabeth Decoursey Trustee | Trustee | 1 | $0 |
Hattie Evans Trustee | Trustee | 1 | $0 |
Joan Valkys Trustee | Trustee | 1 | $0 |
David Gavasheli Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $200,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $209,502 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $409,502 |
| Total Program Service Revenue | $302,510 |
| Investment income | $0 |
| 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 | $712,092 |
| 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 | $32,731 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,196 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $981 |
| Fees for services: Accounting | $2,600 |
| 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 | $4,449 |
| 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 | $47,673 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,853 |
| Insurance | $1,552 |
| All other expenses | $0 |
| Total functional expenses | $180,084 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $191,271 |
| Savings and temporary cash investments | $177,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,113 |
| 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 | $960,763 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $452,391 |
| Total assets | $1,792,538 |
| Accounts payable and accrued expenses | $28,807 |
| Grants payable | $0 |
| Deferred revenue | $4,459 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $1,178,865 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $32,152 |
| Total liabilities | $1,244,283 |
| Net assets without donor restrictions | $0 |
| 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 | $548,255 |
| Total liabilities and net assets/fund balances | $1,792,538 |
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