Civic Intelligence

Lake Area Development Corporation

EIN 16-1492087 • 501(c)3 • Geneva, NY

Profile

LOW INCOME HOUSING

PO Box 153Geneva, NY 14456

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

89th percentile

0.73x

Higher debt load relative to assets than 89% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

90th percentile

1.36x

Higher debt load relative to revenue than 90% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

96th percentile

81%

Higher net margin than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

26th percentile

-3.5%

Faster asset growth than 26% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

94th percentile

133%

Faster revenue growth than 94% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$2,621,654

Down $95,647 (-3.5%) from 2022

Liabilities

Down

$1,919,207

Down $1,248,149 (-39%) from 2022

Net Assets

Up

$702,447

Up $1,152,502 (+256%) from 2022

Operations
Liabilities / Revenue90th percentileNet Margin96th percentile

Revenue

Up

$1,415,045

Up $808,677 (+133%) from 2022

Expenses

Down

$262,543

Down $306,280 (-54%) from 2022

Net Income

Up

$1,152,502

Up $1,114,957 (+2970%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth26th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $2,504,741Liabilities 2011: $2,890,349Net Assets 2011: -$385,6082011Assets 2012: $2,402,016Liabilities 2012: $2,800,353Net Assets 2012: -$398,3372012Assets 2013: $2,315,350Liabilities 2013: $2,697,616Net Assets 2013: -$382,2662013Assets 2014: $2,247,798Liabilities 2014: $2,612,539Net Assets 2014: -$364,7412014Assets 2015: $2,127,717Liabilities 2015: $2,450,490Net Assets 2015: -$322,7732015Assets 2016: $2,086,287Liabilities 2016: $2,399,687Net Assets 2016: -$313,4002016Assets 2017: $1,976,090Liabilities 2017: $2,271,657Net Assets 2017: -$295,5672017Assets 2018: $1,863,245Liabilities 2018: $2,179,262Net Assets 2018: -$316,0172018Assets 2019: $1,737,553Liabilities 2019: $2,138,171Net Assets 2019: -$400,6182019Assets 2020: $1,623,222Liabilities 2020: $2,060,001Net Assets 2020: -$436,7792020Assets 2021: $1,579,833Liabilities 2021: $2,067,433Net Assets 2021: -$487,6002021Assets 2022: $2,717,301Liabilities 2022: $3,167,356Net Assets 2022: -$450,0552022Assets 2023: $2,621,654Liabilities 2023: $1,919,207Net Assets 2023: $702,4472023

Highlighted filing

2023

Assets$2,621,654
Liabilities$1,919,207
Net Assets$702,447
Open 2023 Filing

Operations Trend

Revenue Growth94th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2011: $522,9282011Expenses 2012: $538,0092012Revenue 2013: $526,102Expenses 2013: $510,031Net Income 2013: $16,0712013Revenue 2014: $571,455Expenses 2014: $553,930Net Income 2014: $17,5252014Revenue 2015: $598,544Expenses 2015: $556,576Net Income 2015: $41,9682015Revenue 2016: $536,647Expenses 2016: $527,274Net Income 2016: $9,3732016Revenue 2017: $543,371Expenses 2017: $525,538Net Income 2017: $17,8332017Revenue 2018: $536,001Expenses 2018: $556,451Net Income 2018: -$20,4502018Revenue 2019: $515,833Expenses 2019: $600,434Net Income 2019: -$84,6012019Revenue 2020: $530,988Expenses 2020: $567,149Net Income 2020: -$36,1612020Revenue 2021: $526,387Expenses 2021: $577,208Net Income 2021: -$50,8212021Revenue 2022: $606,368Expenses 2022: $568,823Net Income 2022: $37,5452022Revenue 2023: $1,415,045Expenses 2023: $262,543Net Income 2023: $1,152,5022023

Highlighted filing

2023

Revenue$1,415,045
Expenses$262,543
Net Income$1,152,502
Open 2023 Filing

Filings

Most recent year

2023 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$2,621,654
Liabilities
$1,919,207
Net assets
$702,447
Revenue
$1,415,045
Expenses
$262,543
Net income
$1,152,502
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.62$1.92$0.70$1.42$0.26$1.15
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.72$3.17$0.45$0.61$0.57$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.58$2.07$0.49$0.53$0.58$0.05
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.62$2.06$0.44$0.53$0.57$0.04
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.74$2.14$0.40$0.52$0.60$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.86$2.18$0.32$0.54$0.56$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.98$2.27$0.30$0.54$0.53$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.09$2.40$0.31$0.54$0.53$0.01
2015Detailed filing. Detailed filing data is available for this year.$2.13$2.45$0.32$0.60$0.56$0.04
2014Detailed filing. Detailed filing data is available for this year.$2.25$2.61$0.36$0.57$0.55$0.02
2013Detailed filing. Detailed filing data is available for this year.$2.32$2.70$0.38$0.53$0.51$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.40$2.80$0.40$0.54
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.50$2.89$0.39$0.52
Latest Detailed Filing

The latest 2023 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 13, 2023
Return Version
2022v5.0
Gross Receipts
$606,368
Mission and Program Overview

Mission

LOW INCOME HOUSING

LOW-INCOME HOUSING.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,439,467$1,334,648▼ $104,819
Cash and Non-Interest-Bearing Accounts$44,034$110,036▲ $66,002
Accounts Receivable-$31,000-
Pledges and Grants Receivable$13,511$15,419▲ $1,908
Prepaid Expenses and Deferred Charges$3,762$4,327▲ $565
Inventories for Sale or Use$1,745$1,745→ $0
Total Assets$1,579,833$2,717,301▲ $1,137,468
Other Assets Total$77,314$1,220,126▲ $1,142,812
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,994,747$1,994,076▼ $671
Unsecured Notes Loans Payable-$1,115,059-
Accounts Payable and Accrued Expenses$56,156$42,540▼ $13,616
Other Liabilities$16,530$15,681▼ $849
Total Liabilities$2,067,433$3,167,356▲ $1,099,923
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-487,600$-450,055▲ $37,545
Total Net Assets Fund Balance$-487,600$-450,055▲ $37,545
Total Liabilities and Net Assets / Fund Balance$1,579,833$2,717,301▲ $1,137,468

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,176,067$2,422,767$3,598,834
Equipment$105,081$93,946$199,027
Land$53,500-$53,500
Other Assets Org$15,681--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Dominick VedoraPresident
Phil BeckleyVice President
Robert P DoeblinC.E.O. (BEG OCT '22)
Andrew R TymanC.E.O. (THRU SEPT '22)
John Parrott JrSecretary
Jim VedoraTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$57,617
Program Service Revenue
$484,605
Investment Income
$21
Other Revenue
$64,125
Change in Net Assets
$37,545

Audited Revenue Reconciliation

Revenue per Audited Statements
$606,368
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$606,368
Total Revenue per Form 990
$606,368
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$419,741
Salaries, Compensation, and Employee Benefits$149,082
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$54,062$95,020-$149,082
Depreciation Depletion$118,191--$118,191
Occupancy$50,977--$50,977
Fees for Services Management-$37,761-$37,761
Fees for Services Other$24,207$9,885-$34,092
Interest$29,683--$29,683
All Other Expenses$16,056$8,189-$24,245
Insurance$22,840--$22,840
Office Expenses-$15,223-$15,223
Other Expenses$12,519$14,090-$12,519
Fees for Services Accounting-$6,720-$6,720
Fees for Services Legal-$4,979-$4,979
Total Functional Expenses$360,464$208,359$0$568,823

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$568,823
Total Expenses per Audited Statements$568,823
Total Expenses per Form 990$568,823
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
TENANTS' SECURITY DEPOSITS$15,681
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

“The board's president, dominick vedora, is the father of the treasurer, james vedora.”

Form 990, Part VI, Section A, Line 3

“Geneva housing authority, a new york public corporation, is the management service provider to manage the operations of the apartment project. Responsibilities include advice and assistance with respect to hud regulations and the administering of daily operations for the project.”

Form 990, Part VI, Section A, Line 7B

“The corporation has entered into a contract with the geneva housing authority to manage the operations of the apartment project. Responsibilities include advise and assistance with respect to hud regulations and the administering of daily operations for the project.”

Form 990, Part VI, Section A, Line 8B

“No meetings held during the year.”

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by officers and board members before filing.”

Form 990, Part VI, Section B, Line 12C

“Voluntary disclosure required.”

Form 990, Part VI, Section C, Line 19

“Information available upon request.”

Filing and Contact Details

Filer

Filer Name
Lake Area Development Corporation
EIN
16-1492087
Phone
3157898010
Address
PO BOX 153, GENEVA, NY 14456

Signing Officer

Name
Robert P Doeblin
Title
Chief Executive Officer
Phone
3157898010
Signed
2023-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert P Doeblin
Formed
1995
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Efpr Group Cpas Pllc
Address
6390 MAIN STREET SUITE 200, WILLIAMSVILLE, NY 14221
Preparer
David a Urban CPA
Phone
7166340700
Supplemental Narrative

Additional Explanations

FORM 990, PART XII LINE 2:

“Audited financial statements are issued for the seneca apartments (the project), which is a restricted project of lake area development corporation. The assets, liabilities, and activity of lake area development corporation is not included in the audited financial statements, but has been included in the form 990.”

FORM 990, PART XII LINE 2C:

“There have been no changes to audit oversight in the current year.”

Financial Statement Notes

PART X, LINE 2:

“The corporation is exempt from income taxes under section 501(c)(3) of the internal revenue code (the code); therefore, no provision for income taxes is reflected in the financial statements. The corporation has been classified as a publicly supported organization that is not a private foundation under section 509(a) of the code. The corporation presently discloses or recognizes income tax position based on management's estimate of whether it is reasonably possible or probable that a liability has been incurred or unrecognized income taxes. Management has concluded that the corporation has taken no uncertain tax positions that require adjustment in its financial statements. U.s. Forms 990 filed by the corporation are subject to examination by taxing authorities.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Incentive performance fee”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Lake area development corp expenses”

Raw XML AppendixShowing 400 of 514 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
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IRS990/AccountsPayableAccrExpnssGrp/EOYAmt042540
IRS990/AccountsReceivableGrp/EOYAmt031000
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0LOW-INCOME HOUSING.
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt08189
IRS990/AllOtherExpensesGrp/ProgramServicesAmt016056
IRS990/AllOtherExpensesGrp/TotalAmt024245
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0ROBERT DOEBLIN
IRS990/BooksInCareOfDetail/PhoneNum03157898010
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0PO BOX 153
IRS990/BooksInCareOfDetail/USAddress/CityNm0GENEVA
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NY
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IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
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IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd01
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IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt057617
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt021
IRS990/CYOtherExpensesAmt0419741
IRS990/CYOtherRevenueAmt064125
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IRS990/CYRevenuesLessExpensesAmt037545
IRS990/CYSalariesCompEmpBnftPaidAmt0149082
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IRS990/DepreciationDepletionGrp/TotalAmt0118191
IRS990/Desc0THE ORGANIZATION DEVELOPS AND OPERATES LOW-INCOME HOUSING FOR THE BENEFIT OF LOW AND MODERATE INCOME ELDERLY AND HANDICAPPED TENANTS IN A 50-UNIT APARTMENT COMPLEX IN GENEVA, NEW YORK.
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IRS990/EmployeeCnt00
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IRS990/ExpenseAmt0360464
IRS990/FamilyOrBusinessRlnInd01
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IRS990/FederalGrantAuditRequiredInd01
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt06720
IRS990/FeesForServicesAccountingGrp/TotalAmt06720
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IRS990/Form990PartVIISectionAGrp/OfficerInd0X
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IRS990/Form990PartVIISectionAGrp/OfficerInd2X
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IRS990/Form990PartVIISectionAGrp/PersonNm1PHIL BECKLEY
IRS990/Form990PartVIISectionAGrp/PersonNm2JOHN PARROTT JR
IRS990/Form990PartVIISectionAGrp/PersonNm3JIM VEDORA
IRS990/Form990PartVIISectionAGrp/PersonNm4ANDREW R TYMAN
IRS990/Form990PartVIISectionAGrp/PersonNm5ROBERT P DOEBLIN
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4C.E.O. (THRU SEPT '22)
IRS990/Form990PartVIISectionAGrp/TitleTxt5C.E.O. (BEG OCT '22)
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IRS990/MoreThan5000KToOrgInd00
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IRS990/OtherAssetsTotalGrp/EOYAmt01220126
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0REAL ESTATE TAXES
IRS990/OtherExpensesGrp/Desc1INCENTIVE PERFORMANCE F
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc3SUPPLIES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt016492
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt114090
IRS990/OtherExpensesGrp/ProgramServicesAmt031688
IRS990/OtherExpensesGrp/ProgramServicesAmt1241
IRS990/OtherExpensesGrp/ProgramServicesAmt212519
IRS990/OtherExpensesGrp/TotalAmt031688
IRS990/OtherExpensesGrp/TotalAmt116492
IRS990/OtherExpensesGrp/TotalAmt214331
IRS990/OtherExpensesGrp/TotalAmt312519
IRS990/OtherLiabilitiesGrp/BOYAmt016530
IRS990/OtherLiabilitiesGrp/EOYAmt015681
IRS990/OtherRevenueMiscGrp/BusinessCd0531310
IRS990/OtherRevenueMiscGrp/BusinessCd1812300
IRS990/OtherRevenueMiscGrp/BusinessCd2531390
IRS990/OtherRevenueMiscGrp/Desc0CELL TOWER INCOME
IRS990/OtherRevenueMiscGrp/Desc1LAUNDRY & VENDING
IRS990/OtherRevenueMiscGrp/Desc2TENANT CHARGES
IRS990/OtherRevenueMiscGrp/ExclusionAmt058069
IRS990/OtherRevenueMiscGrp/ExclusionAmt15385
IRS990/OtherRevenueMiscGrp/ExclusionAmt2671
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt058069
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt15385
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt2671
IRS990/OtherRevenueTotalAmt064125
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt095020
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt054062
IRS990/OtherSalariesAndWagesGrp/TotalAmt0149082
IRS990/PartialLiquidationInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt013511
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt015419
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03762
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04327
IRS990/PrincipalOfficerNm0ROBERT P DOEBLIN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0TENANT ASSISTANCE PAYM
IRS990/ProgramServiceRevenueGrp/Desc1RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0334589
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1150016
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0334589
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1150016
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt028
IRS990/PYOtherExpensesAmt0442315
IRS990/PYOtherRevenueAmt090209
IRS990/PYProgramServiceRevenueAmt0436150
IRS990/PYRevenuesLessExpensesAmt0-50821
IRS990/PYSalariesCompEmpBnftPaidAmt0134893
IRS990/PYTotalExpensesAmt0577208
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0526387
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt037545
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0484605
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt057617
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt057617
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt058090
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt058970
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt048408
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt040702
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt039205
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0245375
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0484605
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0436150
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0475272
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0469155
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0489288
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02354470
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt058090
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt058970
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt048408
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt040702
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt039205
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0245375
IRS990ScheduleA/InvestmentIncomeCYPct00.09040
IRS990ScheduleA/InvestmentIncomePYPct00.08490
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt05956
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt031267
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt07275
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt05976
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt07508
IRS990ScheduleA/OtherIncome509Grp/TotalAmt057982
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.88830
IRS990ScheduleA/PublicSupportPY509Pct00.89240
IRS990ScheduleA/PublicSupportTotal509Amt02412087
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0542222
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0436150
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0475272
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0469155
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0489288
IRS990ScheduleA/Total509Grp/TotalAmt02412087
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0606268
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0526387
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0530955
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0515833
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0536001
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02715444
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt01176067
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02422767
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03598834
IRS990ScheduleD/EquipmentGrp/BookValueAmt0105081
IRS990ScheduleD/EquipmentGrp/DepreciationAmt093946
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0199027
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0568823
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt053500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt053500
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01115059
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt185708
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt23678
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt315681
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LEASES RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESERVE FOR REPLACEMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TAX & INSURANCE ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3TENANTS' SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt015681
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANTS' SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0606368
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE); THEREFORE, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THE FINANCIAL STATEMENTS. THE CORPORATION HAS BEEN CLASSIFIED AS A PUBLICLY SUPPORTED ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE CODE. THE CORPORATION PRESENTLY DISCLOSES OR RECOGNIZES INCOME TAX POSITION BASED ON MANAGEMENT'S ESTIMATE OF WHETHER IT IS REASONABLY POSSIBLE OR PROBABLE THAT A LIABILITY HAS BEEN INCURRED OR UNRECOGNIZED INCOME TAXES. MANAGEMENT HAS CONCLUDED THAT THE CORPORATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT IN ITS FINANCIAL STATEMENTS. U.S. FORMS 990 FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INCENTIVE PERFORMANCE FEE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2LAKE AREA DEVELOPMENT CORP EXPENSES
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01334648
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01220126
IRS990ScheduleD/TotalExpensesPerForm990Amt0568823
IRS990ScheduleD/TotalLiabilityAmt015681
IRS990ScheduleD/TotalRevenuePerForm990Amt0606368
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0606368
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0568823
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD'S PRESIDENT, DOMINICK VEDORA, IS THE FATHER OF THE TREASURER, JAMES VEDORA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GENEVA HOUSING AUTHORITY, A NEW YORK PUBLIC CORPORATION, IS THE MANAGEMENT SERVICE PROVIDER TO MANAGE THE OPERATIONS OF THE APARTMENT PROJECT. RESPONSIBILITIES INCLUDE ADVICE AND ASSISTANCE WITH RESPECT TO HUD REGULATIONS AND THE ADMINISTERING OF DAILY OPERATIONS FOR THE PROJECT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CORPORATION HAS ENTERED INTO A CONTRACT WITH THE GENEVA HOUSING AUTHORITY TO MANAGE THE OPERATIONS OF THE APARTMENT PROJECT. RESPONSIBILITIES INCLUDE ADVISE AND ASSISTANCE WITH RESPECT TO HUD REGULATIONS AND THE ADMINISTERING OF DAILY OPERATIONS FOR THE PROJECT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO MEETINGS HELD DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990 IS REVIEWED BY OFFICERS AND BOARD MEMBERS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5VOLUNTARY DISCLOSURE REQUIRED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6INFORMATION AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7AUDITED FINANCIAL STATEMENTS ARE ISSUED FOR THE SENECA APARTMENTS (THE PROJECT), WHICH IS A RESTRICTED PROJECT OF LAKE AREA DEVELOPMENT CORPORATION. THE ASSETS, LIABILITIES, AND ACTIVITY OF LAKE AREA DEVELOPMENT CORPORATION IS NOT INCLUDED IN THE AUDITED FINANCIAL STATEMENTS, BUT HAS BEEN INCLUDED IN THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THERE HAVE BEEN NO CHANGES TO AUDIT OVERSIGHT IN THE CURRENT YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XII LINE 2:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XII LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0GENEVA HOUSING AUTHORITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1FINGER LAKES COMMUNITY DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0166013650
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1161561999
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0115
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NY

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