Civic Intelligence

Lake Ridge Elderly Development Inc.

990 • Fiscal year 2024 • EIN 20-8705744

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 18, 2025

Organization Profilewww.fellowshipsqaure.org
11260 Roger Bacon Drive Suite 20Reston, VA 20190

(703) 494-4455

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

94th percentile

1.02x

Higher debt load relative to assets than 94% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

94th percentile

2.42x

Higher debt load relative to revenue than 94% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

19th percentile

-12%

Higher net margin than 19% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

92nd percentile

$230,530

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 12.0% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

15th percentile

-9.3%

Faster asset growth than 15% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

41st percentile

3.2%

Faster revenue growth than 41% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$4,568,186

Down $470,236 (-9.3%) from 2023

Net Assets

Down

-$78,111

Down $240,011 (-148%) from 2023

Liabilities

Down

$4,646,297

Down $230,225 (-4.7%) from 2023

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin19th percentile

Revenue

Up

$1,920,574

Up $60,104 (+3.2%) from 2023

Expenses

Up

$2,160,585

Up $182,618 (+9.2%) from 2023

Net Income

Down

-$240,011

Down $122,514 (-104%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2015: $6,505,295Liabilities 2015: $5,858,060Net Assets 2015: $647,2352015Assets 2016: $6,493,232Liabilities 2016: $5,827,653Net Assets 2016: $665,5792016Assets 2017: $5,972,191Liabilities 2017: $5,277,032Net Assets 2017: $695,1592017Assets 2018: $5,658,329Liabilities 2018: $5,205,582Net Assets 2018: $452,7472018Assets 2019: $5,410,018Liabilities 2019: $5,030,598Net Assets 2019: $379,4202019Assets 2020: $5,347,959Liabilities 2020: $4,915,860Net Assets 2020: $432,0992020Assets 2021: $5,154,814Liabilities 2021: $4,741,023Net Assets 2021: $413,7912021Assets 2022: $4,977,031Liabilities 2022: $4,668,934Net Assets 2022: $308,0972022Assets 2023: $5,038,422Liabilities 2023: $4,876,522Net Assets 2023: $161,9002023Assets 2024: $4,568,186Liabilities 2024: $4,646,297Net Assets 2024: -$78,1112024

Highlighted filing

2024

Assets$4,568,186
Liabilities$4,646,297
Net Assets-$78,111
Open 2024 Filing

Operations Trend

Revenue Growth41st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $393,616Expenses 2015: $896,912Net Income 2015: -$503,2962015Revenue 2016: $1,569,018Expenses 2016: $1,550,461Net Income 2016: $18,5572016Revenue 2017: $1,587,206Expenses 2017: $1,557,626Net Income 2017: $29,5802017Revenue 2018: $1,626,346Expenses 2018: $1,821,902Net Income 2018: -$195,5562018Revenue 2019: $1,673,850Expenses 2019: $1,747,177Net Income 2019: -$73,3272019Revenue 2020: $1,757,344Expenses 2020: $1,704,665Net Income 2020: $52,6792020Revenue 2021: $1,728,421Expenses 2021: $1,746,729Net Income 2021: -$18,3082021Revenue 2022: $1,837,167Expenses 2022: $1,865,805Net Income 2022: -$28,6382022Revenue 2023: $1,860,470Expenses 2023: $1,977,967Net Income 2023: -$117,4972023Revenue 2024: $1,920,574Expenses 2024: $2,160,585Net Income 2024: -$240,0112024

Highlighted filing

2024

Revenue$1,920,574
Expenses$2,160,585
Net Income-$240,011
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 18, 2025
Return Version
2023v6.0
Gross Receipts
$1,920,574
Mission and Program Overview

Mission

The organization provides affordable housing and related support services to the elderly and physically handicapped or disabled persons.

Affordable housing and services for low income seniors and those who are physically disabled.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,558,390$3,398,896▼ $159,494
Cash and Non-Interest-Bearing Accounts$276,774$161,547▼ $115,227
Accounts Receivable$28,800--
Total Assets$5,038,422$4,568,186▼ $470,236
Other Assets Total$1,174,458$1,007,743▼ $166,715
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,769,556$4,443,827▼ $325,729
Accounts Payable and Accrued Expenses$36,068$162,337▲ $126,269
Escrow Account Liability$36,835$36,577▼ $258
Deferred Revenue$27,376--
Other Liabilities$6,687$3,556▼ $3,131
Total Liabilities$4,876,522$4,646,297▼ $230,225
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$161,900$-78,111▼ $240,011
Total Net Assets Fund Balance$161,900$-78,111▼ $240,011
Total Liabilities and Net Assets / Fund Balance$5,038,422$4,568,186▼ $470,236

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,568,078$6,505,045$9,073,123
Equipment$316,793$275,685$592,478
Land$370,000-$370,000
Other Land Buildings$144,025$60,153$204,178
Other Assets Org$37,470--
Compensation and Service Providers
Top Officer Pay92nd percentile

Board Members and Trustees

NameTitle
Kathleen HardingPresident
Luzette NjweipiDirector
Wavery BrownDirector
Christina ZeitzCEO
Pastor Mark EdwardsSecretary
John S GrayTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
A Advanced LLC (John G Webster Co)Mechanical10738 Tucker St, Beltsville, MD 20705$105,088
Revenue and Support

Revenue Composition

Contributions and Grants
$80,499
Program Service Revenue
$1,800,221
Investment Income
$6,553
Other Revenue
$33,301
Change in Net Assets
$-240,011

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,920,574
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,920,574
Total Revenue per Form 990
$1,920,574
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,530,586
Salaries, Compensation, and Employee Benefits$629,999
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$549,108--$549,108
Depreciation Depletion$316,486--$316,486
Interest$165,552--$165,552
Insurance$105,709--$105,709
Office Expenses$101,541--$101,541
Fees for Services Management-$75,987-$75,987
Other Employee Benefits$43,903--$43,903
Payroll Taxes$36,369--$36,369
Other Expenses$21,415--$21,415
Fees for Services Accounting-$10,955-$10,955
Fees for Services Other$8,760--$8,760
All Other Expenses$5,658--$5,658
Travel$3,516--$3,516
Pension Plan Contributions$619--$619
Advertising$332--$332
Total Functional Expenses$2,073,643$86,942$0$2,160,585

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,160,585
Total Expenses per Audited Statements$2,160,585
Total Expenses per Form 990$2,160,585
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
Due to Affiliate Entity$3,556
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“The organization's activities are managed by a real estate management firm, S. L. Nusbuam. The company provides accounting, human resource, and management oversight for the organization. Susan Hoffler is an employee of S. L. Nusbaum and the manager for the property. Her compensation, which reflects her management for this and other properties, was $112,507.20.”

Form 990, Part VI, Section A, line 6

“Fellowship Sqaure Foundation,Inc. (EIN-XXX-XX-XXXX) is the parent organization of Lake Ridge Elderly Developments Inc. according to Lake Ridge's bylaws.”

Form 990, Part VI, Section A, line 7A

“The Fellowship Square Foundation, Inc. has the ability to appoint the governing body.”

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

“The Fellowship Square Foundation, Inc. approves many decisions made by Lake Ridge Board of Directors, as outlined in the organization's bylaws.”

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

“Fellowship Square executive staff perform an initial review. Once approved, the finance committee reviews the draft and subsequently the whole board reviews and approves the 990 prior to the return being filed.”

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

“The organization's conflict of interest policy requires each director and/or officer to annually disclose his/her knowledge and understanding of the policy which includes the duty of the director and/or officer to disclose to the board of directors any actual or potential conflicts of interest. Family and business relationships are expressly mentioned in the policy. The board of directors (excluding any member who is party to the conflict) is responsible for reviewing the potential conflict and making the determination if an actual conflict of interest exists. Upon knowledge that a conflict was not properly disclosed to the board of directors, appropriate corrective and disciplinary actions shall be taken. Individuals party to any conflicts of interest shall be precluded from voting on any matters associated with the arrangement or transaction involving such conflict.”

Form 990, Part VI, Section C, line 19

“The organization makes its conflict of interest policy, governing documents, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Lake Ridge Elderly Development Inc
EIN
20-8705744
Phone
7034944455
Address
11260 Roger Bacon Drive Suite 20, Reston, VA 20190

Signing Officer

Name
John Gray
Title
Treasurer
Phone
7034944455
Signed
2025-02-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Gray
Formed
1983
Legal Domicile
Va
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
54

Preparer

Firm
Aprio Advisory Group LLC
Address
2002 Summit Boulevard Suite 120, Atlanta, GA 30319
Preparer
Stacy Cullen
Phone
4048929651
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

“No change in process from prior year.”

Financial Statement Notes

Part IV, Line 2B:

“The escrow account holds tenent security deposits.”

Part X, Line 2:

“The Corporation is organized and operated exclusively for charitable, not-for-profit purposes. The Internal Revenue Service has, in prior years, issued its determination letter reflecting that Lake Ridge Elderly Development, Inc. is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. The Corporation is also exempt from state corporate income tax. The Corporation has also been classified as an entity that is not a private foundation within the meaning of Section 509(a) and qualifies for deductible contributions as provided in Section 170(b)(1)(A)(vi). Therefore, no income tax provision has been included in the financial statements. The Corporation is no longer subject to income tax examinations for calendar years up to and including the year ended June 30, 2020.”

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IRS990/Desc0Fellowship Square provides affordable housing and services to seniors, 62 and older, at four apartment buildings within the Washington DC region. In1983, Fellowship Square opened Lake Ridge Fellowship House (LRFH), an independent living community of 100 apartments and a variety of programs and supportive services. LRFH boasts a beautiful common space for activities, games, exercise, social events, and wellness programs. The property is adjacent to a local shopping plaza which makes daily errands easy and convenient for residents. The property operates a 14-seat passenger van for weekly shopping and errands and seasonal field trips for residents. The organization provides a robust monthly calendar of programs and events focused on keeping residents active and engaged to lead richer, healthier, and more satisfying lives. These programs and events rely on a variety of volunteers and community partners, such as healthcare specialists, legal expertise, and other pro bono services. An onsite service coordinator is the linchpin to connect residents to other community resources, such as Medicare, Medicaid, and other benefits to which they are entitled. The property operates under Section 223 (F) of the National Housing Act and participates in the Section 8 program.
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IRS990/OtherRevenueMiscGrp/ExclusionAmt25013
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt021968
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt16320
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt25013
IRS990/OtherRevenueTotalAmt033301
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0549108
IRS990/OtherSalariesAndWagesGrp/TotalAmt0549108
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt036369
IRS990/PayrollTaxesGrp/TotalAmt036369
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0619
IRS990/PensionPlanContributionsGrp/TotalAmt0619
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0John Gray
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0HUD Subsidy Rental Inc
IRS990/ProgramServiceRevenueGrp/Desc1Rental Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01331564
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1468657
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1468657
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt0591452
IRS990/PYContributionsGrantsAmt089258
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt05786
IRS990/PYOtherExpensesAmt01386515
IRS990/PYOtherRevenueAmt039096
IRS990/PYProgramServiceRevenueAmt01726330
IRS990/PYRevenuesLessExpensesAmt0-117497
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01977967
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01860470
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-240011
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01800221
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt080499
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt089258
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0113579
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt018979
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt050674
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0352989
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt06553
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt05786
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0744
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0845
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt01741
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt015669
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01800221
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01726330
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01674652
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01643946
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01605021
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt08450170
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt06553
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt05786
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0744
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0845
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01741
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt015669
IRS990ScheduleA/InvestmentIncomeCYPct00.00170
IRS990ScheduleA/InvestmentIncomePYPct00.00110
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt033301
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt039096
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt048192
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt064651
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt099908
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0285148
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.96700
IRS990ScheduleA/PublicSupportPY509Pct00.96580
IRS990ScheduleA/PublicSupportTotal509Amt08803159
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01880720
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01815588
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01788231
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01662925
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01655695
IRS990ScheduleA/Total509Grp/TotalAmt08803159
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01920574
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01860470
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01837167
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01728421
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01757344
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt09103976
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02568078
IRS990ScheduleD/BuildingsGrp/DepreciationAmt06505045
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09073123
IRS990ScheduleD/EquipmentGrp/BookValueAmt0316793
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0275685
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0592478
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02160585
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt0370000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0370000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt099615
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1473310
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2397348
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt337470
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Escrow Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Replacement Reserve
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Residual Receipts Reserve
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Tenent Deposits Held in Trust
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0144025
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt060153
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0204178
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03556
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to Affiliate Entity
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01920574
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The escrow account holds tenent security deposits.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Corporation is organized and operated exclusively for charitable, not-for-profit purposes. The Internal Revenue Service has, in prior years, issued its determination letter reflecting that Lake Ridge Elderly Development, Inc. is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. The Corporation is also exempt from state corporate income tax. The Corporation has also been classified as an entity that is not a private foundation within the meaning of Section 509(a) and qualifies for deductible contributions as provided in Section 170(b)(1)(A)(vi). Therefore, no income tax provision has been included in the financial statements. The Corporation is no longer subject to income tax examinations for calendar years up to and including the year ended June 30, 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 2b:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03398896
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01007743
IRS990ScheduleD/TotalExpensesPerForm990Amt02160585
IRS990ScheduleD/TotalLiabilityAmt03556
IRS990ScheduleD/TotalRevenuePerForm990Amt01920574
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01920574
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02160585
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt012731
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0188846
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt010000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt018953
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Christina Zeitz
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0230530
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization's activities are managed by a real estate management firm, S. L. Nusbuam. The company provides accounting, human resource, and management oversight for the organization. Susan Hoffler is an employee of S. L. Nusbaum and the manager for the property. Her compensation, which reflects her management for this and other properties, was $112,507.20.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Fellowship Sqaure Foundation,Inc. (EIN-XXX-XX-XXXX) is the parent organization of Lake Ridge Elderly Developments Inc. according to Lake Ridge's bylaws.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Fellowship Square Foundation, Inc. has the ability to appoint the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Fellowship Square Foundation, Inc. approves many decisions made by Lake Ridge Board of Directors, as outlined in the organization's bylaws.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Fellowship Square executive staff perform an initial review. Once approved, the finance committee reviews the draft and subsequently the whole board reviews and approves the 990 prior to the return being filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The organization's conflict of interest policy requires each director and/or officer to annually disclose his/her knowledge and understanding of the policy which includes the duty of the director and/or officer to disclose to the board of directors any actual or potential conflicts of interest. Family and business relationships are expressly mentioned in the policy. The board of directors (excluding any member who is party to the conflict) is responsible for reviewing the potential conflict and making the determination if an actual conflict of interest exists. Upon knowledge that a conflict was not properly disclosed to the board of directors, appropriate corrective and disciplinary actions shall be taken. Individuals party to any conflicts of interest shall be precluded from voting on any matters associated with the arrangement or transaction involving such conflict.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The organization makes its conflict of interest policy, governing documents, and financial statements available upon request.

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,568,186
Liabilities
$4,646,297
Net assets
-$78,111
Revenue
$1,920,574
Expenses
$2,160,585
Net income
-$240,011
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.57$4.65$0.08$1.92$2.16$0.24
2023Summary only. Only limited summary data is available for this year.$5.04$4.88$0.16$1.86$1.98$0.12
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.98$4.67$0.31$1.84$1.87$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.15$4.74$0.41$1.73$1.75$0.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.35$4.92$0.43$1.76$1.70$0.05
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.41$5.03$0.38$1.67$1.75$0.07
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.66$5.21$0.45$1.63$1.82$0.20
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.97$5.28$0.70$1.59$1.56$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.49$5.83$0.67$1.57$1.55$0.02
2015Detailed filing. Detailed filing data is available for this year.$6.51$5.86$0.65$0.39$0.90$0.50