Civic Intelligence

Lord Howe Estates Housing Development Fund Corporation

990 • Fiscal year 2015 • EIN 22-2434840

Apr 01, 2014 to Mar 31, 2015 • Filed on Jul 07, 2015

Organization ProfileN/A
1019 Wicker StreetTiconderoga, NY 12883

(518) 585-3864

Siviq Scores

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

Liabilities / Assets

79th percentile

1.26x

Higher debt load relative to assets than 79% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

65th percentile

4.68x

Higher debt load relative to revenue than 65% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Source year 2015

Net Margin

66th percentile

4.0%

Higher net margin than 66% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • NTEE L • $1M-$5M nonprofits • Source year 2015

Asset Growth

33rd percentile

-3.5%

Faster asset growth than 33% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

57th percentile

2.6%

Faster revenue growth than 57% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets79th percentile

Assets

Down

$1,309,206

Down $46,942 (-3.5%) from 2014

Net Assets

Up

-$339,849

Up $14,198 (+4.0%) from 2014

Liabilities

Down

$1,649,055

Down $61,140 (-3.6%) from 2014

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin66th percentile

Revenue

Up

$352,542

Up $9,025 (+2.6%) from 2014

Expenses

Down

$338,344

Down $10,305 (-3.0%) from 2014

Net Income

Up

$14,198

Up $19,330 (+377%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

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

$2.0M$1.0M$0-$1.0MAssets 2012: $1,380,832Liabilities 2012: $1,721,541Net Assets 2012: -$340,7092012Assets 2013: $1,364,481Liabilities 2013: $1,713,396Net Assets 2013: -$348,9152013Assets 2014: $1,356,148Liabilities 2014: $1,710,195Net Assets 2014: -$354,0472014Assets 2015: $1,309,206Liabilities 2015: $1,649,055Net Assets 2015: -$339,8492015Assets 2016: $1,309,094Liabilities 2016: $1,618,375Net Assets 2016: -$309,2812016Assets 2017: $1,187,337Liabilities 2017: $1,469,914Net Assets 2017: -$282,5772017Assets 2018: $1,174,261Liabilities 2018: $1,443,753Net Assets 2018: -$269,4922018Assets 2019: $1,198,765Liabilities 2019: $1,417,046Net Assets 2019: -$218,2812019Assets 2020: $1,151,555Liabilities 2020: $1,391,263Net Assets 2020: -$239,7082020Assets 2021: $1,164,433Liabilities 2021: $1,368,850Net Assets 2021: -$204,4172021Assets 2022: $1,157,443Liabilities 2022: $1,318,458Net Assets 2022: -$161,0152022Assets 2025: $1,191,596Liabilities 2025: $1,198,613Net Assets 2025: -$7,0172025

Highlighted filing

2015

Assets$1,309,206
Liabilities$1,649,055
Net Assets-$339,849
Open 2015 Filing

Operations Trend

Revenue Growth57th percentile

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

$600K$400K$200K$0-$200KRevenue 2012: $337,525Expenses 2012: $342,865Net Income 2012: -$5,3402012Revenue 2013: $341,390Expenses 2013: $349,596Net Income 2013: -$8,2062013Revenue 2014: $343,517Expenses 2014: $348,649Net Income 2014: -$5,1322014Revenue 2015: $352,542Expenses 2015: $338,344Net Income 2015: $14,1982015Revenue 2016: $355,513Expenses 2016: $324,945Net Income 2016: $30,5682016Revenue 2017: $355,331Expenses 2017: $328,627Net Income 2017: $26,7042017Revenue 2018: $353,750Expenses 2018: $340,665Net Income 2018: $13,0852018Revenue 2019: $365,528Expenses 2019: $314,317Net Income 2019: $51,2112019Revenue 2020: $336,205Expenses 2020: $357,632Net Income 2020: -$21,4272020Revenue 2021: $381,224Expenses 2021: $345,933Net Income 2021: $35,2912021Revenue 2022: $373,457Expenses 2022: $330,055Net Income 2022: $43,4022022Revenue 2025: $421,942Expenses 2025: $336,367Net Income 2025: $85,5752025

Highlighted filing

2015

Revenue$352,542
Expenses$338,344
Net Income$14,198
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2014 to Mar 31, 2015
Signed
Jul 7, 2015
Return Version
2014v5.0
Gross Receipts
$352,542
Mission and Program Overview

Mission

Lord howe estates housing development fund company, inc. Is a not for profit corporation formed to operate a 40 apartment units housing project for low and moderate income senior citizen and disabled residents in ticonderoga,new york.

To provide affordable housing for elderly and for disabled tenants

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,033,556$972,687▼ $60,869
Intangible Assets$110,592$106,995▼ $3,597
Prepaid Expenses and Deferred Charges$26,176$25,132▼ $1,044
Cash and Non-Interest-Bearing Accounts$1,767$12,046▲ $10,279
Accounts Receivable$18,401$606▼ $17,795
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$1,356,148$1,309,206▼ $46,942
Other Assets Total$165,656$191,740▲ $26,084
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,622,690$1,601,433▼ $21,257
Accounts Payable and Accrued Expenses$75,004$35,902▼ $39,102
Other Liabilities$10,751$11,708▲ $957
Deferred Revenue$1,750$12▼ $1,738
Total Liabilities$1,710,195$1,649,055▼ $61,140
Net Assets / Fund Balance
Temporarily Rstr Net Assets$154,905$176,197▲ $21,292
Unrestricted Net Assets$-508,952$-516,046▼ $7,094
Total Net Assets Fund Balance$-354,047$-339,849▲ $14,198
Total Liabilities and Net Assets / Fund Balance$1,356,148$1,309,206▼ $46,942

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$801,534$1,170,046$1,971,580
Other Land Buildings$88,568$99,001$187,569
Leasehold Improvements$16,674$85,673$102,347
Equipment$19,207$70,222$89,429
Land$46,704-$46,704
Other Assets Org$11,708--
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Roland AllenChair Person
Robert DedrickVice Chair Pers
Dawn StoddardBoard Member
Dr Glen ChapmanBoard Member
Michael DiskinBoard Member
Walter LenderBoard Member
Chattie Van WertSecretary
Ross KelleyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$352,093
Investment Income
$449
Other Revenue
$0
Change in Net Assets
$14,198

Audited Revenue Reconciliation

Revenue per Audited Statements
$352,542
Total Revenue per Audited Statements
$352,542
Total Revenue per Form 990
$352,542
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$338,344
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$86,203--$86,203
Depreciation Depletion$75,816--$75,816
All Other Expenses$32,892--$32,892
Insurance$18,402--$18,402
Office Expenses$10,989--$10,989
Other Expenses$8,412--$8,412
Advertising$1,910--$1,910
Fees for Services Legal$1,329--$1,329
Total Functional Expenses$338,344$0$0$338,344

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$338,344
Total Expenses per Audited Statements$338,344
Total Expenses per Form 990$338,344
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$11,708
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“Organization has entered into a management agreement, approved by hud, with crm rental management, inc. To provide management services for the project. Management fees have been computed at a rate of 5.5% of gross rental collections. Management fees of $18,879 were expensed for the fiscal year ended march 31, 2015. The management arrangement has been approved by the board of directors.”

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Inter-lakes health inc is the sole corporate member of lord howe estates housing development fund corporation”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The form 990 was prepared by an independent accounting firm. A copy of form 990 was provided to the organization's board of directors for review and approval prior to filing.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Although there are no executives at the organization, leased employee compensation and related expenses are approved by the board of directors annually based on comparability to compensation and benefits paid for similar positions in the local area.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Although there are no executives at the organization, leased employee compensation and related expenses are approved by the board of directors annually based on comparability to compensation and benefits paid for similar positions in the local area.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“The organization makes its form 1023 and form 990 available to the public upon written request. The form 990 is also found at guidestar.org.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization makes its governing documents and financial statements available to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
Lord Howe Estates Housing Development
EIN
22-2434840
Phone
5185853864
Address
1019 WICKER STREET, TICONDEROGA, NY 12883

Signing Officer

Name
Roland Allen
Title
Chair Person
Signed
2015-07-07

Organization Details

Formed
1980
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Christopher L Rauscher CPA Pc
Address
8065 Merrimac Drive, Manlius, NY 13104
Preparer
Christopher L Rauscher
Phone
3152257780
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Company is a not-for-profit corporation classified within the meaning of the Internal Revenue Code Section 509(a)(1), organized on March 27, 1980 and is exempt from income taxes under Section 501(c)(3) of the U.S. Internal Revenue Code and Section 402 of the New York State Not-for-Profit Corporation law. FASB has provided guidance for how uncertain tax positions should be recognized, measured, disclosed and presented in the financial statements. This requires the evaluation of tax positions taken or expected to be taken in the course of preparing the entity's tax returns to determine whether the tax positions are more-likely-than-not of being sustained when challenged or when examined by the applicable taxing authority. Management has determined that there are no material uncertain income tax positions.”

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IRS990/OfficeExpensesGrp/TotalAmt010989
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt0165656
IRS990/OtherAssetsTotalGrp/EOYAmt0191740
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0LEASED EES & RELATED EXPENSES
IRS990/OtherExpensesGrp/Desc1WATER & SEWER
IRS990/OtherExpensesGrp/Desc2HUD MANDATED MANAGEMENT
IRS990/OtherExpensesGrp/Desc3UTILITIES
IRS990/OtherExpensesGrp/ProgramServicesAmt064122
IRS990/OtherExpensesGrp/ProgramServicesAmt119390
IRS990/OtherExpensesGrp/ProgramServicesAmt218879
IRS990/OtherExpensesGrp/ProgramServicesAmt38412
IRS990/OtherExpensesGrp/TotalAmt064122
IRS990/OtherExpensesGrp/TotalAmt119390
IRS990/OtherExpensesGrp/TotalAmt218879
IRS990/OtherExpensesGrp/TotalAmt38412
IRS990/OtherInd0X
IRS990/OtherLiabilitiesGrp/BOYAmt010751
IRS990/OtherLiabilitiesGrp/EOYAmt011708
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt026176
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt025132
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531190
IRS990/ProgramServiceRevenueGrp/Desc0TENANT RENT & RELATED REV
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0352093
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0352093
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0405
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0297672
IRS990/PYProgramServiceRevenueAmt0343112
IRS990/PYRevenuesLessExpensesAmt0-5132
IRS990/PYSalariesCompEmpBnftPaidAmt050977
IRS990/PYTotalExpensesAmt0348649
IRS990/PYTotalRevenueAmt0343517
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt014198
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0352542
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0449
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0405
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0526
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0598
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0675
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt02653
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0352093
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0343112
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0340864
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0336927
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0330206
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01703202
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0449
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0405
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0526
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0598
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0675
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02653
IRS990ScheduleA/InvestmentIncomeCYPct00.00160
IRS990ScheduleA/InvestmentIncomePYPct00.00160
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99840
IRS990ScheduleA/PublicSupportPY509Pct00.99840
IRS990ScheduleA/PublicSupportTotal509Amt01703202
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0352093
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0343112
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0340864
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0336927
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0330206
IRS990ScheduleA/Total509Grp/TotalAmt01703202
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0352542
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0343517
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0341390
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0337525
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0330881
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01705855
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0801534
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01170046
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01971580
IRS990ScheduleD/EquipmentGrp/BookValueAmt019207
IRS990ScheduleD/EquipmentGrp/DepreciationAmt070222
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt089429
IRS990ScheduleD/ExpensesSubtotalAmt0338344
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt046704
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt046704
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt016674
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt085673
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0102347
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0180032
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt111708
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED CASH - ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt088568
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt099001
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0187569
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt011708
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0352542
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Company is a not-for-profit corporation classified within the meaning of the Internal Revenue Code Section 509(a)(1), organized on March 27, 1980 and is exempt from income taxes under Section 501(c)(3) of the U.S. Internal Revenue Code and Section 402 of the New York State Not-for-Profit Corporation law. FASB has provided guidance for how uncertain tax positions should be recognized, measured, disclosed and presented in the financial statements. This requires the evaluation of tax positions taken or expected to be taken in the course of preparing the entity's tax returns to determine whether the tax positions are more-likely-than-not of being sustained when challenged or when examined by the applicable taxing authority. Management has determined that there are no material uncertain income tax positions.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0972687
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0191740
IRS990ScheduleD/TotalExpensesPerForm990Amt0338344
IRS990ScheduleD/TotalLiabilityAmt011708
IRS990ScheduleD/TotalRevenuePerForm990Amt0352542
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0352542
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0338344
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION HAS ENTERED INTO A MANAGEMENT AGREEMENT, APPROVED BY HUD, WITH CRM RENTAL MANAGEMENT, INC. TO PROVIDE MANAGEMENT SERVICES FOR THE PROJECT. MANAGEMENT FEES HAVE BEEN COMPUTED AT A RATE OF 5.5% OF GROSS RENTAL COLLECTIONS. MANAGEMENT FEES OF $18,879 WERE EXPENSED FOR THE FISCAL YEAR ENDED MARCH 31, 2015. THE MANAGEMENT ARRANGEMENT HAS BEEN APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1INTER-LAKES HEALTH INC IS THE SOLE CORPORATE MEMBER OF LORD HOWE ESTATES HOUSING DEVELOPMENT FUND CORPORATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. A COPY OF FORM 990 WAS PROVIDED TO THE ORGANIZATION'S BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALTHOUGH THERE ARE NO EXECUTIVES AT THE ORGANIZATION, LEASED EMPLOYEE COMPENSATION AND RELATED EXPENSES ARE APPROVED BY THE BOARD OF DIRECTORS ANNUALLY BASED ON COMPARABILITY TO COMPENSATION AND BENEFITS PAID FOR SIMILAR POSITIONS IN THE LOCAL AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALTHOUGH THERE ARE NO EXECUTIVES AT THE ORGANIZATION, LEASED EMPLOYEE COMPENSATION AND RELATED EXPENSES ARE APPROVED BY THE BOARD OF DIRECTORS ANNUALLY BASED ON COMPARABILITY TO COMPENSATION AND BENEFITS PAID FOR SIMILAR POSITIONS IN THE LOCAL AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. THE FORM 990 IS ALSO FOUND AT GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1false

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,309,206
Liabilities
$1,649,055
Net assets
-$339,849
Revenue
$352,542
Expenses
$338,344
Net income
$14,198
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.19$1.20$0.01$0.42$0.34$0.09
2022Detailed filing. Detailed filing data is available for this year.$1.16$1.32$0.16$0.37$0.33$0.04
2021Detailed filing. Detailed filing data is available for this year.$1.16$1.37$0.20$0.38$0.35$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.15$1.39$0.24$0.34$0.36$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.20$1.42$0.22$0.37$0.31$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.17$1.44$0.27$0.35$0.34$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.19$1.47$0.28$0.36$0.33$0.03
2016Detailed filing. Detailed filing data is available for this year.$1.31$1.62$0.31$0.36$0.32$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.31$1.65$0.34$0.35$0.34$0.01
2014Summary only. Only limited summary data is available for this year.$1.36$1.71$0.35$0.34$0.35$0.01
2013Summary only. Only limited summary data is available for this year.$1.36$1.71$0.35$0.34$0.35$0.01
2012Summary only. Only limited summary data is available for this year.$1.38$1.72$0.34$0.34$0.34$0.01