Looking Glass Terrace
- Assets
- $288.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lansing, MI
- Founding
- 10/1979
- Data as of
- 12/2023
- EIN
- 38-2110760
Organization Overview
Looking Glass Terrace is located in Lansing, MI. The organization was established in 1979. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Looking Glass Terrace is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Looking Glass Terrace generated $145.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $141.8k during the year ending 12/2023. While expenses have increased by 4.6% per year over the past 9 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
ORGANIZED TO DEVELOP, CONSTRUCT, OWN, MAINTAIN AND OPERATE A 25-UNIT RENTAL HOUSING PROJECT FOR ELDERLY PERSONS OF LOW AND MODERATE INCOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jody Frank Member | 0.1 | $0 | |
Mary Christensen Member | 0.1 | $0 | |
Shannon Graham Member | 0.1 | $0 | |
Dane Nickols Member | 0.1 | $0 | |
Jacqueline Bader Member | 0.1 | $0 | |
Lori Leonard Secretary | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $145,313 |
| Membership dues | $0 |
| Investment income | $416 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $145,729 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $43,222 |
| Professional fees and other payments to independent contractors | $3,381 |
| Occupancy, rent, utilities, and maintenance | $57,650 |
| Printing, publications, postage, and shipping | $274 |
| Other expenses | $37,235 |
| Total expenses | $141,762 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $4,838 |
| Other assets | $0 |
| Total assets | $288,310 |
| Total liabilities | $64,820 |
| Net assets or fund balances | $223,490 |