Lagoon Beach Residents Association Inc
- Assets
- $2.6m
- Revenue
- $302.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 10/1992
- Data as of
- 12/2021
- EIN
- 77-0284592
Organization Overview
Lagoon Beach Residents Association Inc is located in Denver, CO. The organization was established in 1992. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, 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. Lagoon Beach Residents Association 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 12/2021, Lagoon Beach Residents Association Inc generated $302.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $425.5k during the year ending 12/2021. While expenses have increased by 13.4% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION'S EXEMPT FUNCTION/PURPOSE IS TO PROVIDE AFFORDABLE HOUSING AS A LIMITED EQUITY HOUSING COOPERATIVE TO LOW- OR VERY LOW-INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION'S EXEMPT FUNCTION AND PURPOSE IS TO PROVIDE AFFORDABLE HOUSING AS A LIMITED EQUITY HOUSING COOPERATIVE TO LOW- OR VERY LOW-INCOME FAMILIES AS DEFINED BY CALIFORNIA DEPARTMENT OF HOUSING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kitzia Orozco Secretary | Officer | 1 | $0 |
Sabrina Castro President | Officer | 1 | $0 |
Guadalupe Presa Director | Trustee | 1 | $0 |
Martha Chavez Director | Trustee | 1 | $0 |
Janette Hernandez Director | Trustee | 1 | $0 |
Nancy Fragozo Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $32,304 |
| 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 | $32,304 |
| Total Program Service Revenue | $269,784 |
| Investment income | $812 |
| 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 | $302,900 |
| 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 | $38,285 |
| Pension plan accruals and contributions | $1,546 |
| Other employee benefits | $14,701 |
| Payroll taxes | $2,700 |
| Fees for services: Management | $16,368 |
| Fees for services: Legal | $1,529 |
| Fees for services: Accounting | $11,314 |
| 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 | $5,540 |
| Information technology | $1,197 |
| Royalties | $0 |
| Occupancy | $182,563 |
| Travel | $36 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $100 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,261 |
| Insurance | $20,000 |
| All other expenses | $1,207 |
| Total functional expenses | $425,457 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,538 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $51,015 |
| 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 | $922,068 |
| Net Land, buildings, and equipment | $1,310,711 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $318,629 |
| Total assets | $2,617,961 |
| Accounts payable and accrued expenses | $60,207 |
| Grants payable | $0 |
| Deferred revenue | $6,595 |
| 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 | $4,062,498 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $807,557 |
| Total liabilities | $4,936,857 |
| Net assets without donor restrictions | -$2,318,896 |
| 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 | $2,617,961 |
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