Civic Intelligence

Lemon Street Development Corporation

990 • Fiscal year 2019 • EIN 26-1380120

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 30, 2020

95 Cole StreetMarietta, GA 30060

(770) 419-5127

Siviq Scores

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

Liabilities / Assets

64th percentile

0.16x

Higher debt load relative to assets than 64% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

70th percentile

0.38x

Higher debt load relative to revenue than 70% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Net Margin

91st percentile

57%

Higher net margin than 91% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

97th percentile

$364,250

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 17.4% of source-year revenue.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Asset Growth

89th percentile

32%

Faster asset growth than 89% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

20th percentile

-11%

Faster revenue growth than 20% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$4,926,831

Up $1,205,793 (+32%) from 2018

Net Assets

Up

$4,133,804

Up $1,201,106 (+41%) from 2018

Liabilities

Up

$793,027

Up $4,687 (+0.6%) from 2018

Revenue

Down

$2,091,241

Down $262,574 (-11%) from 2018

Expenses

Up

$890,135

Up $197,616 (+29%) from 2018

Net Income

Down

$1,201,106

Down $460,190 (-28%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2012: $1,345,110Liabilities 2012: $776,565Net Assets 2012: $568,5452012Assets 2013: $1,539,722Liabilities 2013: $765,892Net Assets 2013: $773,8302013Assets 2014: $1,852,444Liabilities 2014: $768,466Net Assets 2014: $1,083,9782014Assets 2015: $1,688,579Liabilities 2015: $768,480Net Assets 2015: $920,0992015Assets 2016: $2,034,013Liabilities 2016: $783,648Net Assets 2016: $1,250,3652016Assets 2017: $2,050,981Liabilities 2017: $779,579Net Assets 2017: $1,271,4022017Assets 2018: $3,721,038Liabilities 2018: $788,340Net Assets 2018: $2,932,6982018Assets 2019: $4,926,831Liabilities 2019: $793,027Net Assets 2019: $4,133,8042019Assets 2020: $5,740,105Liabilities 2020: $830,230Net Assets 2020: $4,909,8752020Assets 2021: $8,974,002Liabilities 2021: $802,017Net Assets 2021: $8,171,9852021Assets 2022: $10,904,163Liabilities 2022: $905,537Net Assets 2022: $9,998,6262022Assets 2023: $12,517,334Liabilities 2023: $827,812Net Assets 2023: $11,689,5222023Assets 2024: $14,361,998Liabilities 2024: $809,492Net Assets 2024: $13,552,5062024

Highlighted filing

2019

Assets$4,926,831
Liabilities$793,027
Net Assets$4,133,804

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2012: $1,121,8042012Revenue 2013: $1,113,959Expenses 2013: $908,674Net Income 2013: $205,2852013Revenue 2014: $999,343Expenses 2014: $747,987Net Income 2014: $251,3562014Revenue 2015: $654,456Expenses 2015: $818,335Net Income 2015: -$163,8792015Revenue 2016: $983,083Expenses 2016: $652,817Net Income 2016: $330,2662016Revenue 2017: $733,185Expenses 2017: $712,148Net Income 2017: $21,0372017Revenue 2018: $2,353,815Expenses 2018: $692,519Net Income 2018: $1,661,2962018Revenue 2019: $2,091,241Expenses 2019: $890,135Net Income 2019: $1,201,1062019Revenue 2020: $1,732,730Expenses 2020: $956,659Net Income 2020: $776,0712020Revenue 2021: $4,271,754Expenses 2021: $1,009,644Net Income 2021: $3,262,1102021Revenue 2022: $3,111,587Expenses 2022: $1,284,946Net Income 2022: $1,826,6412022Revenue 2023: $3,046,824Expenses 2023: $1,355,928Net Income 2023: $1,690,8962023Revenue 2024: $3,174,438Expenses 2024: $1,311,454Net Income 2024: $1,862,9842024

Highlighted filing

2019

Revenue$2,091,241
Expenses$890,135
Net Income$1,201,106
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 30, 2020
Return Version
2019v5.0
Gross Receipts
$2,091,241
Mission and Program Overview

Mission

Develop, foster, manage, and otherwise facilitate,directly or indirectly through other entities, the provision of housing for low income persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,900,921$3,916,737▲ $2,015,816
Land, Buildings, and Equipment, Net$750,810$750,758▼ $52
Savings and Temporary Cash Investments$248,387$252,141▲ $3,754
Accounts Receivable$820,703$7,008▼ $813,695
Prepaid Expenses and Deferred Charges$217$187▼ $30
Total Assets$3,721,038$4,926,831▲ $1,205,793
Liabilities
Accounts Payable and Accrued Expenses$788,340$793,027▲ $4,687
Total Liabilities$788,340$793,027▲ $4,687
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,932,698$4,133,804▲ $1,201,106
Total Net Assets Fund Balance$2,932,698$4,133,804▲ $1,201,106
Total Liabilities and Net Assets / Fund Balance$3,721,038$4,926,831▲ $1,205,793

Asset Categories

AssetBook ValueDepreciationBasis
Land$750,758-$750,758
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Marion WaldrepKey Emp, EdPT$364,250$364,250

Board Members and Trustees

NameTitle
Ken DollarChair
Noel TaylorPresident
Andre SimsVice Chair
Chervonta Taye PughDirector
Diana SimmonsDirector
Larry StephensDirector
Mitch HunterDirector
Marion WaldrepKey Emp, Ed of Mha
Mark WrightVP/sec/treas
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,076,066
Investment Income
$15,175
Other Revenue
$0
Change in Net Assets
$1,201,106
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$890,135
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
Fees for Services Management$724,722--$724,722
Insurance$18,821--$18,821
All Other Expenses$17,902--$17,902
Fees for Services Accounting$14,065--$14,065
Other Expenses$6,461--$6,461
Travel$5,456--$5,456
Office Expenses$3,950--$3,950
Fees for Services Legal$2,095--$2,095
Advertising$238--$238
Depreciation Depletion$52--$52
Total Functional Expenses$890,135$0$0$890,135
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
Subject to proxy tax
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Draft form of tax return is emailed to all board members prior to filing.

Form 990, Page 6, Part VI, Line 12C

Organization abides by and enforced by the same conflict of interest policies as the marietta housing authority. There is regular training and review of policies with staff and board members as well as requirement annually to disclose interests that might be in conflict.

Form 990, Page 6, Part VI, Line 15A

Annual performance evaluations are performed by an independent board of directors of marietta housing authority with annual renewal of contract and compensation determined by the same board.

Form 990, Page 6, Part VI, Line 15B

Annual performance evaluations are performed and approved by the executive director.

Form 990, Page 6, Part VI, Line 19

All governing documents, conflict of interest policy are available upon request. Financial statements are provided regularly to the board of directors at a regular meeting of the board which is open to the public.

Filing and Contact Details

Filer

Filer Name
Lemon Street Development
EIN
26-1380120
Phone
7704195127
Address
95 COLE STREET, MARIETTA, GA 30060

Signing Officer

Name
Noel Taylor
Title
President
Phone
7704195127
Signed
2020-09-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Noel Taylor
Formed
2007
Legal Domicile
Ga
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Rector Reeder & Lofton Pc
Address
623 TOM BREWER ROAD, LOGANVILLE, GA 30052-4042
Preparer
Mary Beth Smith CPA
Phone
7708798411
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IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DRAFT FORM OF TAX RETURN IS EMAILED TO ALL BOARD MEMBERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION ABIDES BY AND ENFORCED BY THE SAME CONFLICT OF INTEREST POLICIES AS THE MARIETTA HOUSING AUTHORITY. THERE IS REGULAR TRAINING AND REVIEW OF POLICIES WITH STAFF AND BOARD MEMBERS AS WELL AS REQUIREMENT ANNUALLY TO DISCLOSE INTERESTS THAT MIGHT BE IN CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUAL PERFORMANCE EVALUATIONS ARE PERFORMED BY AN INDEPENDENT BOARD OF DIRECTORS OF MARIETTA HOUSING AUTHORITY WITH ANNUAL RENEWAL OF CONTRACT AND COMPENSATION DETERMINED BY THE SAME BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL PERFORMANCE EVALUATIONS ARE PERFORMED AND APPROVED BY THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE PROVIDED REGULARLY TO THE BOARD OF DIRECTORS AT A REGULAR MEETING OF THE BOARD WHICH IS OPEN TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0DORSEY MANOR DEVELOPMENT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1LEMON STREET TOWER DEV LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt2LEGACY TERRACE DEVELOPMENT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt3LEMON STREET RENAISSANCE DEV LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt4SCHOOL STREET LSDC DEVELOPMENT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt5WHITE CIRCLE PHASE I LSDC LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0208866324
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IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt295 COLE STREET
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt395 COLE STREET
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt495 COLE STREET
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt595 COLE STREET
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0MARIETTA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm1MARIETTA
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IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd4GA
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IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd030060
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd4N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0208883123
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN1943451061
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN4465640181
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0GA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd1GA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd2GA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd3GA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd4GA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0LOW INC HG
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1LOW INC HG
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt2LOW INC HG
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt3LOW INC HG
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt4LOW INC HG
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0LEMON STREET GP LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1LEMON STREET TOWER GP LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt2LEMON STREET RENAISSANCE GP LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt3LEMON STREET TERRACE GP LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt4SCHOOL STREET LSDC GP LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt095 COLE STREET
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt195 COLE STREET
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt295 COLE STREET
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt395 COLE STREET
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt495 COLE STREET
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0MARIETTA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm1MARIETTA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm2MARIETTA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm3MARIETTA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm4MARIETTA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0GA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd1GA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd2GA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd3GA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd4GA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd030060
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd130060
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd230060
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd330060
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1MHA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MARIETTA HOUSING AUTHORITY (MHA)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1COLE STREET DEVELOPMENT CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0586002424
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt095 COLE STREET NE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt195 COLE STREET NE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0MARIETTA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1MARIETTA

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