Prairie Lake Estates Homeowners Cooperative
- Assets
- $4.3m
- Revenue
- $469.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Kenosha, WI
- Founding
- 11/2014
- Data as of
- 12/2021
- EIN
- 32-0403047
Organization Overview
Prairie Lake Estates Homeowners Cooperative is located in Kenosha, WI. The organization was established in 2014. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prairie Lake Estates Homeowners Cooperative is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Prairie Lake Estates Homeowners Cooperative generated $469.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $387.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LOW INCOME AFFORDABLE HOUSING WITHOUT PREJUDICE, WITH FINANCIAL RELIEF, ASSISTANCE, AND OPPORTUNITY TO RAISE THE STANDARD OF LIVING FOR FAMILIES AND FIXED INCOME RETIREES IN A SAFE AND STABLE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AFFORDABLE HOUSING ON A COOPERATIVE BASIS FOR VERY-LOW, LOW, AND MODERATE INCOME RESIDENTS, ELIMINATE PREJUDICE AND DISCRIMINATION, AND COMBAT COMMUNITY DETERIORATION, PROVIDE FINANCIAL RELIEF, ASSISTANCE, AND OPPORTUNITY FORA BETTER QUALITY OF LIFE IN A SAFE AND SECURE COMMUNITY WITHOUT PREJUDICE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Glidden Vice Preside | Officer | $0 | |
Teri Burns Secretary | Officer | $0 | |
Julie Harmon Treasurer | Officer | $0 | |
Frank Serpe President | Officer | $0 | |
Gary Hansen Director, Op | Trustee | $0 | |
Mike Huber Director At | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $466,200 |
| Investment income | $322 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $469,150 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,725 |
| Fees for services: Accounting | $6,865 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,611 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $114,901 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20 |
| Interest | $188,107 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,146 |
| Insurance | $3,348 |
| All other expenses | $0 |
| Total functional expenses | $387,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,100 |
| Savings and temporary cash investments | $181,774 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,390 |
| Net Land, buildings, and equipment | $3,942,021 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $141,751 |
| Total assets | $4,275,036 |
| Accounts payable and accrued expenses | $7,549 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,272,488 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $95,436 |
| Total liabilities | $3,375,473 |
| Net assets without donor restrictions | $899,563 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,275,036 |
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