Civic Intelligence

Luther Heights Inc C/O Homz Management

990 • Fiscal year 2021 • EIN 42-1389223

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 09, 2022

3118 Devils Glen RoadBettendorf, IA 52722

(816) 779-3131

Siviq Scores

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

Liabilities / Assets

44th percentile

0.04x

Higher debt load relative to assets than 44% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

66th percentile

0.21x

Higher debt load relative to revenue than 66% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

9th percentile

-25%

Higher net margin than 9% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

15th percentile

-4.1%

Faster asset growth than 15% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

28th percentile

-2.2%

Faster revenue growth than 28% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$1,242,690

Down $52,574 (-4.1%) from 2020

Net Assets

Down

$1,190,678

Down $62,317 (-5.0%) from 2020

Liabilities

Up

$52,012

Up $9,743 (+23%) from 2020

Revenue

Down

$249,622

Down $5,485 (-2.2%) from 2020

Expenses

Up

$311,939

Up $492 (+0.2%) from 2020

Net Income

Down

-$62,317

Down $5,977 (-11%) from 2020

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,941,030Liabilities 2010: $30,836Net Assets 2010: $1,910,1942010Assets 2011: $1,857,038Liabilities 2011: $54,283Net Assets 2011: $1,802,7552011Assets 2012: $1,771,700Liabilities 2012: $28,824Net Assets 2012: $1,742,8762012Assets 2013: $1,718,306Liabilities 2013: $29,938Net Assets 2013: $1,688,3682013Assets 2014: $1,655,333Liabilities 2014: $42,406Net Assets 2014: $1,612,9272014Assets 2015: $1,577,837Liabilities 2015: $47,437Net Assets 2015: $1,530,4002015Assets 2016: $1,517,686Liabilities 2016: $51,497Net Assets 2016: $1,466,1892016Assets 2017: $1,428,493Liabilities 2017: $33,210Net Assets 2017: $1,395,2832017Assets 2018: $1,383,396Liabilities 2018: $35,781Net Assets 2018: $1,347,6152018Assets 2019: $1,351,651Liabilities 2019: $42,316Net Assets 2019: $1,309,3352019Assets 2020: $1,295,264Liabilities 2020: $42,269Net Assets 2020: $1,252,9952020Assets 2021: $1,242,690Liabilities 2021: $52,012Net Assets 2021: $1,190,6782021Assets 2022: $1,189,758Liabilities 2022: $103,653Net Assets 2022: $1,086,1052022Assets 2023: $1,101,926Liabilities 2023: $52,017Net Assets 2023: $1,049,9092023Assets 2024: $1,101,462Liabilities 2024: $66,698Net Assets 2024: $1,034,7642024

Highlighted filing

2021

Assets$1,242,690
Liabilities$52,012
Net Assets$1,190,678

Operations Trend

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

$400K$200K$0-$200KExpenses 2010: $267,4802010Revenue 2011: $206,225Expenses 2011: $313,664Net Income 2011: -$107,4392011Expenses 2012: $265,4022012Revenue 2013: $208,059Expenses 2013: $262,567Net Income 2013: -$54,5082013Revenue 2014: $210,398Expenses 2014: $285,839Net Income 2014: -$75,4412014Revenue 2015: $204,849Expenses 2015: $287,376Net Income 2015: -$82,5272015Revenue 2016: $208,308Expenses 2016: $272,519Net Income 2016: -$64,2112016Revenue 2017: $209,973Expenses 2017: $280,879Net Income 2017: -$70,9062017Revenue 2018: $244,738Expenses 2018: $292,406Net Income 2018: -$47,6682018Revenue 2019: $256,321Expenses 2019: $294,601Net Income 2019: -$38,2802019Revenue 2020: $255,107Expenses 2020: $311,447Net Income 2020: -$56,3402020Revenue 2021: $249,622Expenses 2021: $311,939Net Income 2021: -$62,3172021Revenue 2022: $271,074Expenses 2022: $375,647Net Income 2022: -$104,5732022Revenue 2023: $333,507Expenses 2023: $369,703Net Income 2023: -$36,1962023Revenue 2024: $346,019Expenses 2024: $361,164Net Income 2024: -$15,1452024

Highlighted filing

2021

Revenue$249,622
Expenses$311,939
Net Income-$62,317
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 9, 2022
Return Version
2021v4.2
Gross Receipts
$249,622
Mission and Program Overview

Mission

To provide affordable housing for low-income senior citizens

Provide affordable housing for low-income senior citizens

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,089,996$1,009,536▼ $80,460
Cash and Non-Interest-Bearing Accounts$4,692$13,894▲ $9,202
Prepaid Expenses and Deferred Charges$14,980$738▼ $14,242
Accounts Receivable$25$247▲ $222
Total Assets$1,295,264$1,242,690▼ $52,574
Other Assets Total$185,571$218,275▲ $32,704
Liabilities
Accounts Payable and Accrued Expenses$18,451$29,518▲ $11,067
Other Liabilities$23,703$19,088▼ $4,615
Deferred Revenue$115$3,406▲ $3,291
Total Liabilities$42,269$52,012▲ $9,743
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,876,200$2,876,200→ $0
Net Assets Without Donor Restrictions$-1,623,205$-1,685,522▼ $62,317
Total Net Assets Fund Balance$1,252,995$1,190,678▼ $62,317
Total Liabilities and Net Assets / Fund Balance$1,295,264$1,242,690▼ $52,574

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$910,072$1,934,963$2,845,035
Equipment$29,760$58,816$88,576
Land$40,696-$40,696
Other Land Buildings$29,008$11,097$40,105
Other Assets Org$15,707--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joyce MarinaccioPresident
Kim WilkinsVice President
Craig SchledewitzDirector
Jane RockDirector
Jerrilea Jay EldredgeDirector
Kevin KrebsDirector
Melissa FrazerDirector
Mike WhitemanDirector
Nancy BeaderstadtDirector
Tom SchovilleDirector
Shari SchledewitzSecretary
John NewmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$249,609
Investment Income
$13
Other Revenue
$0
Change in Net Assets
$-62,317

Audited Revenue Reconciliation

Revenue per Audited Statements
$249,622
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$249,622
Total Revenue per Form 990
$249,622
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$256,103
Salaries, Compensation, and Employee Benefits$55,836
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$80,460--$80,460
Other Salaries and Wages$54,700--$54,700
Occupancy$50,709--$50,709
Fees for Services Management-$25,120-$25,120
Fees for Services Accounting-$16,434-$16,434
Insurance$12,937--$12,937
Office Expenses$5,253--$5,253
Information Technology$3,789--$3,789
Advertising$1,697--$1,697
Payroll Taxes$947--$947
Conferences and Meetings-$591-$591
Other Expenses$579--$579
All Other Expenses$30$400-$430
Other Employee Benefits$189--$189
Travel-$85-$85
Total Functional Expenses$269,309$42,630$0$311,939

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$311,939
Total Expenses per Audited Statements$311,939
Total Expenses per Form 990$311,939
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
Tenant Security Deposits$19,088
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 2

Shari schledewitz, director, and craig schledewitz, director, are married.

Form 990, Part VI, Section A, Line 3

The organization delegated control over management duties to cardinal capital management. Effective august 1, 2021, young management corporation became the management agent. The management company specializes in providing marketing, rental, collections, maintenance and repair, as well as other services for housing projects.

Form 990, Part VI, Section A, Line 6

A member of the corporation is any qualified congregation that elects to participate in conducting the affairs of the corporation by selecting at least one (1) voting delegate to represent such qualified congregation in conducting the corporation's affairs. Subject to the conditions of these by-laws, a qualified congregation may select its voting delegate(s) to represent the qualified congregation in any manner as that qualified congregation deems appropriate. A qualified congregation shall not be a member of the corporation unless it selects one or more voting delegates to represent the congregation in conducting the corporation's affairs, and notifies the corporation's board of such selection as provided herein. A qualified corporation shall be any congregation that is affiliated with the evangelical lutheran church of america (elca), and that has its principal place of worship situated in scott county, iowa. A qualified corporation is eligible to be a member of the corporation, but is not necessarily a member of the corporation. A statement of the names and addresses of the qualified congregations, as taken from the records of the southeast iowa synod of the elca as of the date of adoption of these bylaws. The statement separately identifies qualified congregations that are currently members of the corporation and qualified congregations that are not members of the corporation at the time these by-laws are adopted.

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

The board of directors of each corporation shall consist of not more than fifteen (15) directors. The voting delegates may determine and change the number of director positions that are available to be filled from time to time. Each voting delegate shall be entitled to nominate for election, one or more persons to serve as board members(s) by submitting the name(s) and address(es) of the nominee(s) that the voting delegate desires to serve on the board. A member congregation (qualified congregation with at least one current voting delegate) may have more than one board member, and can nominate more than one person to serve on the board. Until changed by the voting delegates, the projects board shall have fifteen (15) positions. If one or more vacancies occur, the projects board shall consist of the number of established board positions less the number of vacancies until the vacancies are filled as provided herein.

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

The form 990, with all applicable schedules, is reviewed by the board of directors before it is filed with the internal revenue service.

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

Each year, all members of the board review the conflict of interest policy and procurement policy, which expands on the conflict of interest procedures.

Form 990, Part VI, Section C, Line 19

Luther heights, inc. Makes its governing documents, conflict of interest policy and financial statements available to the public upon request. These documents are available for the same period of time as described in internal revenue code section 6104(d) for other public disclosure documents.

Filing and Contact Details

Filer

Filer Name
Luther Heights Inc
EIN
42-1389223
Phone
8167793131
Address
3118 DEVILS GLEN ROAD, BETTENDORF, IA 52722

Signing Officer

Name
Joyce Marinaccio
Title
President
Phone
8167793131
Signed
2022-06-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joyce Marinaccio
Formed
1992
Legal Domicile
Ia
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
10

Preparer

Firm
Carter & Company Cpas LLC
Address
PO BOX 279, DESTIN, FL 32540
Preparer
Samuel T Boerma
Phone
8506500125
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. The organization has adopted accounting for uncertainty in income taxes (fasb accounting standards codification (asc) 740, income taxes). It requires that a tax position be recognized or derecognized based on a 'more-likely-than-not' threshold. This applies to positions taken or expected to be taken in a tax return. The implementation had no impact on the organization's statement of financial position or statement of activities. The organization does not believe its financial statements include any uncertain tax positions and that no income taxes are due for its activities. Therefore, no provision for income taxes is included in the financial statements.

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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt012
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ProgramServicesAmt03789
IRS990/InformationTechnologyGrp/TotalAmt03789
IRS990/InsuranceGrp/ProgramServicesAmt012937
IRS990/InsuranceGrp/TotalAmt012937
IRS990/InvestmentIncomeGrp/ExclusionAmt013
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt013
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02004876
IRS990/LandBldgEquipBasisNetGrp/BOYAmt01089996
IRS990/LandBldgEquipBasisNetGrp/EOYAmt01009536
IRS990/LandBldgEquipCostOrOtherBssAmt03014412
IRS990/LegalDomicileStateCd0IA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROVIDE ELDERLY OR DISABLED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS AND USEFULNESS IN LONGER LIVING.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01252995
IRS990/NetAssetsOrFundBalancesEOYAmt01190678
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-1623205
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-1685522
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt050709
IRS990/OccupancyGrp/TotalAmt050709
IRS990/OfficeExpensesGrp/ProgramServicesAmt05253
IRS990/OfficeExpensesGrp/TotalAmt05253
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0185571
IRS990/OtherAssetsTotalGrp/EOYAmt0218275
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0189
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0189
IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1ELDERLY CARE SERVICES
IRS990/OtherExpensesGrp/Desc2SECURITY
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS TAXES AND
IRS990/OtherExpensesGrp/ProgramServicesAmt039428
IRS990/OtherExpensesGrp/ProgramServicesAmt116939
IRS990/OtherExpensesGrp/ProgramServicesAmt21652
IRS990/OtherExpensesGrp/ProgramServicesAmt3579
IRS990/OtherExpensesGrp/TotalAmt039428
IRS990/OtherExpensesGrp/TotalAmt116939
IRS990/OtherExpensesGrp/TotalAmt21652
IRS990/OtherExpensesGrp/TotalAmt3579
IRS990/OtherLiabilitiesGrp/BOYAmt023703
IRS990/OtherLiabilitiesGrp/EOYAmt019088
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt054700
IRS990/OtherSalariesAndWagesGrp/TotalAmt054700
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt0947
IRS990/PayrollTaxesGrp/TotalAmt0947
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt014980
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0738
IRS990/PrincipalOfficerNm0JOYCE MARINACCIO
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1LAUNDRY & VENDING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0245181
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt14428
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0245181
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt14428
IRS990/ProgSrvcAccomActy2Grp/Desc0TO PROVIDE SERVICES TO ENHANCE THE QUALITY OF LIVING OF THE RESIDENTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt016939
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt042
IRS990/PYOtherExpensesAmt0236669
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0255065
IRS990/PYRevenuesLessExpensesAmt0-56340
IRS990/PYSalariesCompEmpBnftPaidAmt074778
IRS990/PYTotalExpensesAmt0311447
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0255107
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-62317
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0249609
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt013
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt042
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0176
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt061
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt057
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0349
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0249609
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0255065
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0256145
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0244677
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0209916
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01215412
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt013
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt042
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0176
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt061
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt057
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0349
IRS990ScheduleA/InvestmentIncomeCYPct00.00030
IRS990ScheduleA/InvestmentIncomePYPct00.00030
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99970
IRS990ScheduleA/PublicSupportPY509Pct00.99970
IRS990ScheduleA/PublicSupportTotal509Amt01215412
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0249609
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0255065
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0256145
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0244677
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0209916
IRS990ScheduleA/Total509Grp/TotalAmt01215412
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0249622
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0255107
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0256321
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0244738
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0209973
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01215761
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0910072
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01934963
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02845035
IRS990ScheduleD/EquipmentGrp/BookValueAmt029760
IRS990ScheduleD/EquipmentGrp/DepreciationAmt058816
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt088576
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0311939
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt040696
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt040696
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt019468
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt18060
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2175040
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt315707
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INSURANCE RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt029008
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt011097
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt040105
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt019088
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0249622
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION HAS ADOPTED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES). IT REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A 'MORE-LIKELY-THAN-NOT' THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE IMPLEMENTATION HAD NO IMPACT ON THE ORGANIZATION'S STATEMENT OF FINANCIAL POSITION OR STATEMENT OF ACTIVITIES. THE ORGANIZATION DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS AND THAT NO INCOME TAXES ARE DUE FOR ITS ACTIVITIES. THEREFORE, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01009536
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0218275
IRS990ScheduleD/TotalExpensesPerForm990Amt0311939
IRS990ScheduleD/TotalLiabilityAmt019088
IRS990ScheduleD/TotalRevenuePerForm990Amt0249622
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0249622
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0311939
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SHARI SCHLEDEWITZ, DIRECTOR, AND CRAIG SCHLEDEWITZ, DIRECTOR, ARE MARRIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DELEGATED CONTROL OVER MANAGEMENT DUTIES TO CARDINAL CAPITAL MANAGEMENT. EFFECTIVE AUGUST 1, 2021, YOUNG MANAGEMENT CORPORATION BECAME THE MANAGEMENT AGENT. THE MANAGEMENT COMPANY SPECIALIZES IN PROVIDING MARKETING, RENTAL, COLLECTIONS, MAINTENANCE AND REPAIR, AS WELL AS OTHER SERVICES FOR HOUSING PROJECTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A MEMBER OF THE CORPORATION IS ANY QUALIFIED CONGREGATION THAT ELECTS TO PARTICIPATE IN CONDUCTING THE AFFAIRS OF THE CORPORATION BY SELECTING AT LEAST ONE (1) VOTING DELEGATE TO REPRESENT SUCH QUALIFIED CONGREGATION IN CONDUCTING THE CORPORATION'S AFFAIRS. SUBJECT TO THE CONDITIONS OF THESE BY-LAWS, A QUALIFIED CONGREGATION MAY SELECT ITS VOTING DELEGATE(S) TO REPRESENT THE QUALIFIED CONGREGATION IN ANY MANNER AS THAT QUALIFIED CONGREGATION DEEMS APPROPRIATE. A QUALIFIED CONGREGATION SHALL NOT BE A MEMBER OF THE CORPORATION UNLESS IT SELECTS ONE OR MORE VOTING DELEGATES TO REPRESENT THE CONGREGATION IN CONDUCTING THE CORPORATION'S AFFAIRS, AND NOTIFIES THE CORPORATION'S BOARD OF SUCH SELECTION AS PROVIDED HEREIN. A QUALIFIED CORPORATION SHALL BE ANY CONGREGATION THAT IS AFFILIATED WITH THE EVANGELICAL LUTHERAN CHURCH OF AMERICA (ELCA), AND THAT HAS ITS PRINCIPAL PLACE OF WORSHIP SITUATED IN SCOTT COUNTY, IOWA. A QUALIFIED CORPORATION IS ELIGIBLE TO BE A MEMBER OF THE CORPORATION, BUT IS NOT NECESSARILY A MEMBER OF THE CORPORATION. A STATEMENT OF THE NAMES AND ADDRESSES OF THE QUALIFIED CONGREGATIONS, AS TAKEN FROM THE RECORDS OF THE SOUTHEAST IOWA SYNOD OF THE ELCA AS OF THE DATE OF ADOPTION OF THESE BYLAWS. THE STATEMENT SEPARATELY IDENTIFIES QUALIFIED CONGREGATIONS THAT ARE CURRENTLY MEMBERS OF THE CORPORATION AND QUALIFIED CONGREGATIONS THAT ARE NOT MEMBERS OF THE CORPORATION AT THE TIME THESE BY-LAWS ARE ADOPTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS OF EACH CORPORATION SHALL CONSIST OF NOT MORE THAN FIFTEEN (15) DIRECTORS. THE VOTING DELEGATES MAY DETERMINE AND CHANGE THE NUMBER OF DIRECTOR POSITIONS THAT ARE AVAILABLE TO BE FILLED FROM TIME TO TIME. EACH VOTING DELEGATE SHALL BE ENTITLED TO NOMINATE FOR ELECTION, ONE OR MORE PERSONS TO SERVE AS BOARD MEMBERS(S) BY SUBMITTING THE NAME(S) AND ADDRESS(ES) OF THE NOMINEE(S) THAT THE VOTING DELEGATE DESIRES TO SERVE ON THE BOARD. A MEMBER CONGREGATION (QUALIFIED CONGREGATION WITH AT LEAST ONE CURRENT VOTING DELEGATE) MAY HAVE MORE THAN ONE BOARD MEMBER, AND CAN NOMINATE MORE THAN ONE PERSON TO SERVE ON THE BOARD. UNTIL CHANGED BY THE VOTING DELEGATES, THE PROJECTS BOARD SHALL HAVE FIFTEEN (15) POSITIONS. IF ONE OR MORE VACANCIES OCCUR, THE PROJECTS BOARD SHALL CONSIST OF THE NUMBER OF ESTABLISHED BOARD POSITIONS LESS THE NUMBER OF VACANCIES UNTIL THE VACANCIES ARE FILLED AS PROVIDED HEREIN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990, WITH ALL APPLICABLE SCHEDULES, IS REVIEWED BY THE BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5EACH YEAR, ALL MEMBERS OF THE BOARD REVIEW THE CONFLICT OF INTEREST POLICY AND PROCUREMENT POLICY, WHICH EXPANDS ON THE CONFLICT OF INTEREST PROCEDURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6LUTHER HEIGHTS, INC. MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THESE DOCUMENTS ARE AVAILABLE FOR THE SAME PERIOD OF TIME AS DESCRIBED IN INTERNAL REVENUE CODE SECTION 6104(D) FOR OTHER PUBLIC DISCLOSURE DOCUMENTS.
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 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.07$1.03$0.35$0.36$0.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.10$0.05$1.05$0.33$0.37$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.19$0.10$1.09$0.27$0.38$0.10
2021Detailed filing. Detailed filing data is available for this year.$1.24$0.05$1.19$0.25$0.31$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.30$0.04$1.25$0.26$0.31$0.06
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$0.04$1.31$0.26$0.29$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.38$0.04$1.35$0.24$0.29$0.05
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.03$1.40$0.21$0.28$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.52$0.05$1.47$0.21$0.27$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.58$0.05$1.53$0.20$0.29$0.08
2014Detailed filing. Detailed filing data is available for this year.$1.66$0.04$1.61$0.21$0.29$0.08
2013Detailed filing. Detailed filing data is available for this year.$1.72$0.03$1.69$0.21$0.26$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.77$0.03$1.74$0.27
2011Summary only. Only limited summary data is available for this year.$1.86$0.05$1.80$0.21$0.31$0.11
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.94$0.03$1.91$0.27