Maximum Accessible Housing-Lake
- Assets
- $1.1m
- Revenue
- $367.0k
- Investments
- $0.0
- Employees
- 14
- Location
- Cleveland, OH
- Founding
- 03/1993
- Data as of
- 09/2023
- EIN
- 34-1712575
Organization Overview
Maximum Accessible Housing-Lake, operating under the name Lake Vistas Apartments, is located in Cleveland, OH. The organization was established in 1993. As of 09/2023, Lake Vistas Apartments employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Vistas Apartments 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 09/2023, Lake Vistas Apartments generated $367.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $356.3k during the year ending 09/2023. While expenses have increased by 2.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ACCESSIBLE HOUSING FOR LOW-INCOME PEOPLE WITH MOBILITY DISABILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ACCESSIBLE, AFFORDABLE HOUSING FOR LOW-INCOME PEOPLE WITH MOBILITY DISABILITIES. OPERATES A 24-UNIT APARTMENT BUILDING UNDER SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT, REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jon Scandling Chairperson | OfficerTrustee | 0.4 | $0 |
David M Loomis Past Chair | OfficerTrustee | 0.3 | $0 |
Brian Corrigan Vice Chairperson | OfficerTrustee | 0.3 | $0 |
Anya Kulcsar Secretary | OfficerTrustee | 0.3 | $0 |
Jordan Batch Treasurer | OfficerTrustee | 0.5 | $0 |
Kevin Adelstein Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $254,416 |
| 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 | $254,416 |
| Total Program Service Revenue | $112,518 |
| Investment income | $89 |
| 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 | $367,023 |
| 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. | $30,129 |
| Compensation of current officers, directors, key employees. | $16,872 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $76,721 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,051 |
| Payroll taxes | $9,384 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,056 |
| Advertising and promotion | $1,068 |
| Office expenses | $17,206 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $59,735 |
| Travel | $1,730 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,161 |
| Insurance | $23,926 |
| All other expenses | $0 |
| Total functional expenses | $356,287 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,419 |
| Savings and temporary cash investments | $344,467 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $338 |
| 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 | $2,304 |
| Net Land, buildings, and equipment | $724,929 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,101,457 |
| Accounts payable and accrued expenses | $79,120 |
| 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 | $1,498,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,690 |
| Total liabilities | $1,584,810 |
| Net assets without donor restrictions | -$483,353 |
| 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 | $1,101,457 |
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