East Lake Community Development Inc
- Assets
- $8.6m
- Revenue
- $773.6k
- Investments
- $4.4m
- Employees
- 1
- Location
- Birmingham, AL
- Founding
- 09/1983
- Data as of
- 06/2021
- EIN
- 63-0849453
Organization Overview
East Lake Community Development Inc is located in Birmingham, AL. The organization was established in 1983. 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. East Lake Community Development Inc 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 06/2021, East Lake Community Development Inc generated $773.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.5% each year . All expenses for the organization totaled $741.2k during the year ending 06/2021. 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
LOW INCOME RENTAL REAL ESTATE
Describe the Organization's Program Activity:
Part 3 - Line 4a
EAST LAKE COMMUNITY DEVELOPMENT, INC. PROVIDES LOW INCOME HOUSING TO THE COMMUNITY VIA INVESTMENTS IN VARIOUS APARTMENT COMPLEXES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Lipp Executive Director | Officer | 30 | $106,995 |
John Wilson Director | Trustee | 0 | $0 |
Jessica Zorn Director | Trustee | 0 | $0 |
Youvinza Price Director | Trustee | 0 | $0 |
Nikeshia Bailey Director | Trustee | 0 | $0 |
Joann Sanders Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $2,275 |
| 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 | $773,646 |
| Statement of Expenses | |
|---|---|
| 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 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 | $0 |
| Fees for services: Accounting | $0 |
| 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 | $259,584 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $71,431 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $79,921 |
| Insurance | $51,112 |
| All other expenses | $0 |
| Total functional expenses | $741,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $234,969 |
| Savings and temporary cash investments | $0 |
| 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 | $40,269 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,415,216 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,615,377 |
| Accounts payable and accrued expenses | $251,971 |
| 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 | $8,126,189 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,872 |
| Total liabilities | $8,401,032 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $214,345 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that East Lake Community Development Inc has recieved totaling $298,108.
| Awarding Organization | Amount |
|---|---|
Community Food Bank Of Central Alabama Birmingham, AL PURPOSE: To provide food to the needy. | $86,047 |
Community Food Bank Of Central Alabama Birmingham, AL PURPOSE: To provide food to the needy. | $69,925 |
Community Food Bank Of Central Alabama Birmingham, AL PURPOSE: To provide food to the needy. | $33,612 |
Community Food Bank Of Central Alabama Birmingham, AL PURPOSE: To provide food to the needy. | $33,423 |
Community Food Bank Of Central Alabama Birmingham, AL PURPOSE: To provide food to the needy. | $29,421 |
Community Food Bank Of Central Alabama Birmingham, AL PURPOSE: To provide food to the needy. | $17,386 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St James Residence Of The Palm Beaches Inc West Palm Beach, FL | $94,288 | $38,104,096 |
Orlando Lutheran Towers Inc Orlando, FL | $80,032,894 | $34,936,633 |
Bonita Springs Retirement Village Inc Gainesville, FL | $109,847,615 | $18,938,390 |
Federation Gulfstream Housing Inc Boca Raton, FL | $0 | $28,667,255 |
Redstone Military Retirement Residence Association Huntsville, AL | $75,839,783 | $19,548,176 |
Concordia Of Florida Inc Tampa, FL | $31,059,059 | $25,497,159 |
St Andrews Residence Of The Diocese Of Southeast Florida Inc West Palm Beach, FL | $295,539 | $24,065,641 |
Lavender Mountain Senior Living Inc Mount Berry, GA | $141,195,331 | $5,176,789 |
Westminster Pines Inc Orlando, FL | $103,132,021 | $15,458,662 |
Skidaway Health And Living Services Inc Savannah, GA | $89,340,251 | $17,567,308 |
Palm Shores Retirement Community Inc Orlando, FL | $37,421,751 | $16,521,390 |
St George Village-Catholic Community Retirement Center Roswell, GA | $71,436,640 | $13,654,810 |