Civic Intelligence

Luther Crest Inc Co Homz Management

990 • Fiscal year 2021 • EIN 42-1492887

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

37th percentile

0.02x

Higher debt load relative to assets than 37% of similar nonprofits.

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

Liabilities / Revenue

62nd percentile

0.17x

Higher debt load relative to revenue than 62% of similar nonprofits.

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

Net Margin

6th percentile

-38%

Higher net margin than 6% 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

14th percentile

-4.5%

Faster asset growth than 14% of similar nonprofits.

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

Revenue Growth

33rd percentile

0.5%

Faster revenue growth than 33% of similar nonprofits.

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

Assets

Down

$3,063,865

Down $144,435 (-4.5%) from 2020

Net Assets

Down

$2,993,234

Down $155,928 (-5.0%) from 2020

Liabilities

Up

$70,631

Up $11,493 (+19%) from 2020

Revenue

Up

$405,832

Up $2,192 (+0.5%) from 2020

Expenses

Up

$561,760

Up $32,856 (+6.2%) from 2020

Net Income

Down

-$155,928

Down $30,664 (-24%) from 2020

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2010: $4,411,688Liabilities 2010: $41,754Net Assets 2010: $4,369,9342010Assets 2011: $4,307,648Liabilities 2011: $44,132Net Assets 2011: $4,263,5162011Assets 2012: $4,205,105Liabilities 2012: $47,371Net Assets 2012: $4,157,7342012Assets 2013: $4,084,023Liabilities 2013: $43,946Net Assets 2013: $4,040,0772013Assets 2014: $3,985,107Liabilities 2014: $57,326Net Assets 2014: $3,927,7812014Assets 2015: $3,854,758Liabilities 2015: $113,895Net Assets 2015: $3,740,8632015Assets 2016: $3,727,644Liabilities 2016: $115,529Net Assets 2016: $3,612,1152016Assets 2017: $3,527,785Liabilities 2017: $52,504Net Assets 2017: $3,475,2812017Assets 2018: $3,426,707Liabilities 2018: $55,529Net Assets 2018: $3,371,1782018Assets 2019: $3,328,067Liabilities 2019: $53,641Net Assets 2019: $3,274,4262019Assets 2020: $3,208,300Liabilities 2020: $59,138Net Assets 2020: $3,149,1622020Assets 2021: $3,063,865Liabilities 2021: $70,631Net Assets 2021: $2,993,2342021Assets 2022: $2,931,887Liabilities 2022: $81,725Net Assets 2022: $2,850,1622022Assets 2023: $2,874,247Liabilities 2023: $166,359Net Assets 2023: $2,707,8882023Assets 2024: $2,682,709Liabilities 2024: $50,676Net Assets 2024: $2,632,0332024

Highlighted filing

2021

Assets$3,063,865
Liabilities$70,631
Net Assets$2,993,234

Operations Trend

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $407,9042010Revenue 2011: $304,372Expenses 2011: $410,790Net Income 2011: -$106,4182011Expenses 2012: $412,8422012Revenue 2013: $309,379Expenses 2013: $427,036Net Income 2013: -$117,6572013Revenue 2014: $325,942Expenses 2014: $438,238Net Income 2014: -$112,2962014Revenue 2015: $325,750Expenses 2015: $512,668Net Income 2015: -$186,9182015Revenue 2016: $331,066Expenses 2016: $459,814Net Income 2016: -$128,7482016Revenue 2017: $346,775Expenses 2017: $483,609Net Income 2017: -$136,8342017Revenue 2018: $380,042Expenses 2018: $484,145Net Income 2018: -$104,1032018Revenue 2019: $400,606Expenses 2019: $497,358Net Income 2019: -$96,7522019Revenue 2020: $403,640Expenses 2020: $528,904Net Income 2020: -$125,2642020Revenue 2021: $405,832Expenses 2021: $561,760Net Income 2021: -$155,9282021Revenue 2022: $422,550Expenses 2022: $565,622Net Income 2022: -$143,0722022Revenue 2023: $470,440Expenses 2023: $612,714Net Income 2023: -$142,2742023Revenue 2024: $515,196Expenses 2024: $591,051Net Income 2024: -$75,8552024

Highlighted filing

2021

Revenue$405,832
Expenses$561,760
Net Income-$155,928
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 9, 2022
Return Version
2021v4.2
Gross Receipts
$405,832
Mission and Program Overview

Mission

To 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.

Provide affordable housing for low-income senior citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,011,656$2,881,585▼ $130,071
Cash and Non-Interest-Bearing Accounts$12,378$2,403▼ $9,975
Prepaid Expenses and Deferred Charges$21,372$1,853▼ $19,519
Accounts Receivable$296$413▲ $117
Total Assets$3,208,300$3,063,865▼ $144,435
Other Assets Total$162,598$177,611▲ $15,013
Liabilities
Accounts Payable and Accrued Expenses$20,899$41,116▲ $20,217
Other Liabilities$37,322$27,597▼ $9,725
Deferred Revenue$917$1,918▲ $1,001
Total Liabilities$59,138$70,631▲ $11,493
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,132,800$5,132,800→ $0
Net Assets Without Donor Restrictions$-1,983,638$-2,139,566▼ $155,928
Total Net Assets Fund Balance$3,149,162$2,993,234▼ $155,928
Total Liabilities and Net Assets / Fund Balance$3,208,300$3,063,865▼ $144,435

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,541,348$2,621,476$5,162,824
Land$290,000-$290,000
Equipment$14,577$84,603$99,180
Other Land Buildings$35,660$12,296$47,956
Other Assets Org$19,251--
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
$405,817
Investment Income
$15
Other Revenue
$0
Change in Net Assets
$-155,928

Audited Revenue Reconciliation

Revenue per Audited Statements
$405,832
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$405,832
Total Revenue per Form 990
$405,832
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$417,864
Salaries, Compensation, and Employee Benefits$143,896
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$146,170--$146,170
Other Salaries and Wages$135,904--$135,904
Occupancy$72,616--$72,616
Fees for Services Management-$46,960-$46,960
Fees for Services Accounting-$20,995-$20,995
Insurance$18,705--$18,705
Office Expenses$7,789--$7,789
Payroll Taxes$5,646--$5,646
Information Technology$5,109--$5,109
Other Expenses$4,992$2,855-$2,855
Other Employee Benefits$2,346--$2,346
Advertising$2,171--$2,171
All Other Expenses$902--$902
Conferences and Meetings-$214-$214
Travel-$26-$26
Total Functional Expenses$490,710$71,050$0$561,760

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$561,760
Total Expenses per Audited Statements$561,760
Total Expenses per Form 990$561,760
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$27,597
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 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 by-laws. The statement separately identities 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 member(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 crest, 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 Crest Inc
EIN
42-1492887
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
1999
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/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt012
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ProgramServicesAmt05109
IRS990/InformationTechnologyGrp/TotalAmt05109
IRS990/InsuranceGrp/ProgramServicesAmt018705
IRS990/InsuranceGrp/TotalAmt018705
IRS990/InvestmentIncomeGrp/ExclusionAmt015
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt015
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02718375
IRS990/LandBldgEquipBasisNetGrp/BOYAmt03011656
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02881585
IRS990/LandBldgEquipCostOrOtherBssAmt05599960
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/NetAssetsOrFundBalancesBOYAmt03149162
IRS990/NetAssetsOrFundBalancesEOYAmt02993234
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-1983638
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-2139566
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt072616
IRS990/OccupancyGrp/TotalAmt072616
IRS990/OfficeExpensesGrp/ProgramServicesAmt07789
IRS990/OfficeExpensesGrp/TotalAmt07789
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0162598
IRS990/OtherAssetsTotalGrp/EOYAmt0177611
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt02346
IRS990/OtherEmployeeBenefitsGrp/TotalAmt02346
IRS990/OtherExpensesGrp/Desc0REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc1SERVICE COORDINATOR
IRS990/OtherExpensesGrp/Desc2SECURITY CONTRACT
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS ADMINISTR
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02855
IRS990/OtherExpensesGrp/ProgramServicesAmt057086
IRS990/OtherExpensesGrp/ProgramServicesAmt131274
IRS990/OtherExpensesGrp/ProgramServicesAmt24992
IRS990/OtherExpensesGrp/TotalAmt057086
IRS990/OtherExpensesGrp/TotalAmt131274
IRS990/OtherExpensesGrp/TotalAmt24992
IRS990/OtherExpensesGrp/TotalAmt32855
IRS990/OtherLiabilitiesGrp/BOYAmt037322
IRS990/OtherLiabilitiesGrp/EOYAmt027597
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0135904
IRS990/OtherSalariesAndWagesGrp/TotalAmt0135904
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt05646
IRS990/PayrollTaxesGrp/TotalAmt05646
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt021372
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01853
IRS990/PrincipalOfficerNm0JOYCE MARINACCIO
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1LAUNDRY & VENDING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0396195
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt19622
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0396195
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt19622
IRS990/ProgSrvcAccomActy2Grp/Desc0TO PROVIDE SERVICE TO ENHANCE THE QUALITY OF LIVING OF THE RESIDENTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt031274
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt045
IRS990/PYOtherExpensesAmt0394289
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0403595
IRS990/PYRevenuesLessExpensesAmt0-125264
IRS990/PYSalariesCompEmpBnftPaidAmt0134615
IRS990/PYTotalExpensesAmt0528904
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0403640
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-155928
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0405817
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt015
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt045
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0226
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt081
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt088
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0455
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0405817
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0403595
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0400380
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0379961
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0346687
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01936440
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt015
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt045
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0226
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt081
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt088
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0455
IRS990ScheduleA/InvestmentIncomeCYPct00.00020
IRS990ScheduleA/InvestmentIncomePYPct00.00030
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99980
IRS990ScheduleA/PublicSupportPY509Pct00.99970
IRS990ScheduleA/PublicSupportTotal509Amt01936440
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0405817
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0403595
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0400380
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0379961
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0346687
IRS990ScheduleA/Total509Grp/TotalAmt01936440
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0405832
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0403640
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0400606
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0380042
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0346775
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01936895
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02541348
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02621476
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05162824
IRS990ScheduleD/EquipmentGrp/BookValueAmt014577
IRS990ScheduleD/EquipmentGrp/DepreciationAmt084603
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt099180
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0561760
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0290000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0290000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt027831
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt111381
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2119148
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt319251
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INSURANCE RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt035660
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt012296
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt047956
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt027597
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0405832
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/TotalBookValueLandBuildingsAmt02881585
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0177611
IRS990ScheduleD/TotalExpensesPerForm990Amt0561760
IRS990ScheduleD/TotalLiabilityAmt027597
IRS990ScheduleD/TotalRevenuePerForm990Amt0405832
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0405832
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0561760
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 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 BY-LAWS. THE STATEMENT SEPARATELY IDENTITIES 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 MEMBER(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 CREST, 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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C

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.$2.68$0.05$2.63$0.52$0.59$0.08
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.87$0.17$2.71$0.47$0.61$0.14
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.93$0.08$2.85$0.42$0.57$0.14
2021Detailed filing. Detailed filing data is available for this year.$3.06$0.07$2.99$0.41$0.56$0.16
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.21$0.06$3.15$0.40$0.53$0.13
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.33$0.05$3.27$0.40$0.50$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.43$0.06$3.37$0.38$0.48$0.10
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.53$0.05$3.48$0.35$0.48$0.14
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.73$0.12$3.61$0.33$0.46$0.13
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.85$0.11$3.74$0.33$0.51$0.19
2014Detailed filing. Detailed filing data is available for this year.$3.99$0.06$3.93$0.33$0.44$0.11
2013Detailed filing. Detailed filing data is available for this year.$4.08$0.04$4.04$0.31$0.43$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.21$0.05$4.16$0.41
2011Summary only. Only limited summary data is available for this year.$4.31$0.04$4.26$0.30$0.41$0.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.41$0.04$4.37$0.41