Elders Lodge Corporation

Organization Overview

Elders Lodge Corporation is located in St Paul, MN. The organization was established in 1995. 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. Elders Lodge Corporation 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 12/2023, Elders Lodge Corporation generated $474.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $574.8k during the year ending 12/2023. While expenses have increased by 0.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE SUBSIDIZED APARTMENT HOUSING TO LOW INCOME SENIORS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ELDERS LODGE CORPORATION (THE ORGANIZATION) IS A NON-PROFIT CORPORATION, WHICH OPERATES A 43-UNIT APARTMENT COMPLEX UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. THE COMPLEX, WHICH IS LOCATED IN SAINT PAUL, MINNESOTA, BEGAN RENTAL OPERATIONS IN APRIL 1997. THIS ORGANIZATION IS REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AS TO RENT CHARGES AND OPERATING METHODS AND PARTICIPATES IN THE HUD RENT SUPPLEMENT PROGRAM. THE ORGANIZATION'S MAJOR PROGRAM IS ITS SECTION 202 CAPITAL ADVANCE.THE ORGANIZATION IS SUBJECT TO PROJECT RENTAL ASSISTANCE CONTRACT AGREEMENTS WITH HUD, AND A SIGNIFICANT PORTION OF THE ORGANIZATION'S RENTAL INCOME IS RECEIVED FROM HUD. PROJECT RENTAL ASSISTANCE CONTRACT MN46-S941-002 EXPIRES MARCH 31ST, 2028. HUD HAS AGREED TO PAY THE DIFFERENCE BETWEEN THE CONTRACT RENT, AS DEFINED IN THE AGREEMENT, AND THAT PORTION OF RENT PAYABLE BY QUALIFIED TENANTS. THE ORGANIZATION'S NON-MAJOR PROGRAM IS ITS PROJECT RENTAL ASSISTANCE, HOWEVER, FOR FEDERAL AWARDS COMPLIANCE PURPOSES THIS PROGRAM IS INCLUDED AS A MAJOR PROGRAM.


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Board, Officers & Key Employees

Name (title)Compensation
Suzanne Nash
President
$0
Ivy Rasmusson
Vice President
$0
Pam Gokey
Secretary/treasurer
$0
Sarah Anderson
Director
$0
Nelda Goodman
Director
$0
Carol Hernandez
Director
$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$300
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$300
Total Program Service Revenue$474,356
Investment income $12
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 $474,668

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