Civic Intelligence

Lanesboro Housing Development Inc C/O Life Style Inc

990 • Fiscal year 2015 • EIN 41-1319973

Jan 01, 2015 to Dec 31, 2015 • Filed on May 13, 2016

503 Parkway Ave SLanesboro, MN 55949

(507) 467-2222

Siviq Scores

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

Liabilities / Assets

71st percentile

0.22x

Higher debt load relative to assets than 71% of similar nonprofits.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

83rd percentile

0.89x

Higher debt load relative to revenue than 83% of similar nonprofits.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2015

Net Margin

16th percentile

-15%

Higher net margin than 16% of similar nonprofits.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

79th percentile

$14,153

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 7.3% of source-year revenue.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2015

Asset Growth

25th percentile

-4.6%

Faster asset growth than 25% of similar nonprofits.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

58th percentile

3.5%

Faster revenue growth than 58% of similar nonprofits.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Assets

Down

$800,801

Down $39,037 (-4.6%) from 2014

Net Assets

Down

$627,485

Down $28,284 (-4.3%) from 2014

Liabilities

Down

$173,316

Down $10,753 (-5.8%) from 2014

Revenue

Up

$193,905

Up $6,496 (+3.5%) from 2014

Expenses

Up

$222,189

Up $13,024 (+6.2%) from 2014

Net Income

Down

-$28,284

Down $6,528 (-30%) from 2014

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2010: $988,593Liabilities 2010: $226,916Net Assets 2010: $761,6772010Assets 2011: $945,732Liabilities 2011: $215,195Net Assets 2011: $730,5372011Assets 2012: $906,094Liabilities 2012: $205,672Net Assets 2012: $700,4222012Assets 2013: $871,777Liabilities 2013: $194,252Net Assets 2013: $677,5252013Assets 2014: $839,838Liabilities 2014: $184,069Net Assets 2014: $655,7692014Assets 2015: $800,801Liabilities 2015: $173,316Net Assets 2015: $627,4852015Assets 2016: $754,147Liabilities 2016: $162,948Net Assets 2016: $591,1992016Assets 2017: $715,788Liabilities 2017: $156,038Net Assets 2017: $559,7502017Assets 2018: $671,480Liabilities 2018: $148,195Net Assets 2018: $523,2852018Assets 2019: $612,283Liabilities 2019: $140,235Net Assets 2019: $472,0482019Assets 2020: $615,979Liabilities 2020: $129,786Net Assets 2020: $486,1932020Assets 2021: $632,198Liabilities 2021: $121,652Net Assets 2021: $510,5462021Assets 2022: $637,437Liabilities 2022: $112,426Net Assets 2022: $525,0112022Assets 2023: $584,767Liabilities 2023: $104,443Net Assets 2023: $480,3242023Assets 2024: $640,687Liabilities 2024: $95,076Net Assets 2024: $545,6112024Assets 2025: $716,263Liabilities 2025: $86,428Net Assets 2025: $629,8352025

Highlighted filing

2015

Assets$800,801
Liabilities$173,316
Net Assets$627,485

Operations Trend

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

$400K$200K$0-$200KExpenses 2010: $173,2782010Expenses 2011: $204,1792011Expenses 2012: $196,0292012Revenue 2013: $179,566Expenses 2013: $202,463Net Income 2013: -$22,8972013Revenue 2014: $187,409Expenses 2014: $209,165Net Income 2014: -$21,7562014Revenue 2015: $193,905Expenses 2015: $222,189Net Income 2015: -$28,2842015Revenue 2016: $203,604Expenses 2016: $239,890Net Income 2016: -$36,2862016Revenue 2017: $203,513Expenses 2017: $234,962Net Income 2017: -$31,4492017Revenue 2018: $215,512Expenses 2018: $251,977Net Income 2018: -$36,4652018Revenue 2019: $244,556Expenses 2019: $295,773Net Income 2019: -$51,2172019Revenue 2020: $261,488Expenses 2020: $247,002Net Income 2020: $14,4862020Revenue 2021: $260,776Expenses 2021: $236,423Net Income 2021: $24,3532021Revenue 2022: $261,253Expenses 2022: $246,788Net Income 2022: $14,4652022Revenue 2023: $297,945Expenses 2023: $342,632Net Income 2023: -$44,6872023Revenue 2024: $353,271Expenses 2024: $287,984Net Income 2024: $65,2872024Revenue 2025: $383,559Expenses 2025: $299,335Net Income 2025: $84,2242025

Highlighted filing

2015

Revenue$193,905
Expenses$222,189
Net Income-$28,284
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 13, 2016
Return Version
2015v2.0
Gross Receipts
$193,905
Mission and Program Overview

Mission

ELDERLY HOUSING RENTAL

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$633,019$604,735▼ $28,284
Land, Buildings, and Equipment, Net$623,287$593,457▼ $29,830
Savings and Temporary Cash Investments$195,787$183,447▼ $12,340
Cash and Non-Interest-Bearing Accounts$20,744$23,877▲ $3,133
Cap Stk Tr Prin Current Funds$22,750$22,750→ $0
Accounts Receivable-$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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$839,838$800,801▼ $39,037
Other Assets Total$20$20→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$170,954$159,768▼ $11,186
Escrow Account Liability$13,115$13,548▲ $433
Total Liabilities$184,069$173,316▼ $10,753
Net Assets / Fund Balance
Total Net Assets Fund Balance$655,769$627,485▼ $28,284
Total Liabilities and Net Assets / Fund Balance$839,838$800,801▼ $39,037

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$426,491$812,804$1,239,295
Other Land Buildings$146,627$142,642$289,269
Land$20,000-$20,000
Leasehold Improvements$339$260$599
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Gretchen L SchwichtenbergSite ManagerPT$14,153$14,153

Board Members and Trustees

NameTitle
Dale KragePresident
Dorothy EvensonVice President
DORIS O'DELLDirector
Harriet LawstonDirector
Jeanette BergDirector
Jacque CrutcherSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$192,861
Investment Income
$1,044
Other Revenue
$0
Change in Net Assets
$-28,284
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$207,124
Salaries, Compensation, and Employee Benefits$15,065
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$98,502--$98,502
Depreciation Depletion$51,015--$51,015
Insurance$24,647--$24,647
Fees for Services Management-$19,653-$19,653
Current Officers, Directors, Trustees, and Key Employees$14,153--$14,153
Office Expenses$6,160--$6,160
Fees for Services Accounting$1,819--$1,819
Interest$1,665--$1,665
Payroll Taxes$912--$912
Advertising$597--$597
Other Expenses$150$934-$150
Total Functional Expenses$200,312$21,877$0$222,189
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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
No
Management duties delegated
Yes

Governance Explanations

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

Overall management of facilities. Manage repairs and maintenance, hires all staff and does the accounting. Files the required federal reporting.

Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings

Meeting minutes taken for each meeting under roberts rules of order.

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

No review was or will be conducted.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Conflict of interest issues are documented and approved by usda, rural houseing authority as needed.

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

Governing documents are available to the general public by making a verbal or written request to the governing officers.

Filing and Contact Details

Filer

Filer Name
Lanesboro Housing Development Inc
EIN
41-1319973
Phone
5074672222
Address
503 PARKWAY AVE S, LANESBORO, MN 55949

Signing Officer

Name
Dale Krage
Title
President
Signed
2016-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dale Krage
Formed
1975
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
6
Employees
1

Preparer

Firm
Bottomline Accounting
Address
118 Pearson Ct, St Charles, MN 55972
Preparer
Roy O Hazel Jr EA
Phone
5072592246
Supplemental Narrative

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

RENTAL SECURITY DEPOSITS

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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt323260
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt436887
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02043
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt158862
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt270643
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt323260
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt436887
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0775
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0194488
IRS990/PYProgramServiceRevenueAmt0186634
IRS990/PYRevenuesLessExpensesAmt0-21756
IRS990/PYSalariesCompEmpBnftPaidAmt014677
IRS990/PYTotalExpensesAmt0209165
IRS990/PYTotalRevenueAmt0187409
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-28284
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0192861
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0633019
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0604735
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0195787
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0183447
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0426491
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0812804
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01239295
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/LandGrp/BookValueAmt020000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt020000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0339
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0260
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0599
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0146627
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0142642
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0289269
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0RENTAL SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 2b: Explanation of escrow account liability
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0593457
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Overall management of facilities. Manage repairs and maintenance, hires all staff and does the accounting. Files the required federal reporting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEETING MINUTES TAKEN FOR EACH MEETING UNDER ROBERTS RULES OF ORDER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST ISSUES ARE DOCUMENTED AND APPROVED BY USDA, RURAL HOUSEING AUTHORITY AS NEEDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE TO THE GENERAL PUBLIC BY MAKING A VERBAL OR WRITTEN REQUEST TO THE GOVERNING OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0839838
IRS990/TotalAssetsEOYAmt0800801
IRS990/TotalAssetsGrp/BOYAmt0839838
IRS990/TotalAssetsGrp/EOYAmt0800801
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt021877
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0200312
IRS990/TotalFunctionalExpensesGrp/TotalAmt0222189
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0184069
IRS990/TotalLiabilitiesEOYAmt0173316
IRS990/TotalLiabilitiesGrp/BOYAmt0184069
IRS990/TotalLiabilitiesGrp/EOYAmt0173316
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0655769
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0627485
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt01166
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt01166
IRS990/TotalProgramServiceExpensesAmt0200312
IRS990/TotalProgramServiceRevenueAmt0192861
IRS990/TotalReportableCompFromOrgAmt014153
IRS990/TotalRevenueGrp/ExclusionAmt01044
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0192861
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0193905
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0839838
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0800801
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0706 CALHOUN AVE S
IRS990/USAddress/CityNm0LANESBORO
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055949
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DALE KRAGE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LANESBORO HOUSING DEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0LANE
ReturnHeader/Filer/EIN0411319973
ReturnHeader/Filer/PhoneNum05074672222
ReturnHeader/Filer/USAddress/AddressLine1Txt0503 PARKWAY AVE S
ReturnHeader/Filer/USAddress/CityNm0LANESBORO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055949
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Bottomline Accounting
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0118 Pearson Ct
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0St Charles
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055972
ReturnHeader/PreparerPersonGrp/PhoneNum05072592246
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Roy O Hazel Jr EA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.16$0.86$6.30$3.84$2.99$0.84
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.41$0.95$5.46$3.53$2.88$0.65
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.85$1.04$4.80$2.98$3.43$0.45
2022Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$6.37$1.12$5.25$2.61$2.47$0.14
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.32$1.22$5.11$2.61$2.36$0.24
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.16$1.30$4.86$2.61$2.47$0.14
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.12$1.40$4.72$2.45$2.96$0.51
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.71$1.48$5.23$2.16$2.52$0.36
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.16$1.56$5.60$2.04$2.35$0.31
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.54$1.63$5.91$2.04$2.40$0.36
2015Detailed filing. Detailed filing data is available for this year.$8.01$1.73$6.27$1.94$2.22$0.28
2014Detailed filing. Detailed filing data is available for this year.$8.40$1.84$6.56$1.87$2.09$0.22
2013Detailed filing. Detailed filing data is available for this year.$8.72$1.94$6.78$1.80$2.02$0.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.06$2.06$7.00$1.96
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.46$2.15$7.31$2.04
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.89$2.27$7.62$1.73
Peer Organizations

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