Centro Lancaster Ltd
- Assets
- $3.7m
- Revenue
- $208.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Lancaster, PA
- Founding
- 06/2017
- Data as of
- 12/2021
- EIN
- 81-3782414
Organization Overview
Centro Lancaster Ltd is located in Lancaster, PA. The organization was established in 2017. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Centro Lancaster Ltd 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, Centro Lancaster Ltd generated $208.5k in total revenue. All expenses for the organization totaled $371.0k during the year ending 12/2021. While expenses have increased by 31.2% per year over the past 5 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
OPERATE A COMMERCIAL CENTER TO PROMOTE AND STIMULATE COMMERCIAL ACTIVITY IN LANCASTER, PA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURRENT TENANTS INCLUDE AN INTERNATIONAL GROCERY STORE, CELL PHONE STORE, BARBER SHOP, REAL ESTATE AGENT AND A CHINESE RESTAURANT. THE SIXTH UNIT, A WINE AND BOOK BAR, IS CURRENTLY DOING FITOUT AND IS SCHEDULED TO OPEN THIS SUMMER. THE COMMUNITY HAS EMBRACED THE PLAZA AND THE BUSINESSES ARE DOING WELL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
C Ted Darcus Vice President | OfficerTrustee | 1 | $0 |
Robert Frankhouser Treasurer | OfficerTrustee | 1 | $0 |
Miriam Ortega Secretary | OfficerTrustee | 1 | $0 |
Carlos Graupera President | OfficerTrustee | 1 | $0 |
Rosa Graupera CFO | Officer | 1 | $0 |
Jodie Richardson Board Member | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $208,469 |
| Investment income | $0 |
| 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 | $208,469 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $437 |
| Fees for services: Accounting | $1,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,300 |
| Advertising and promotion | $7,875 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $95,911 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $122,438 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $107,764 |
| Insurance | $4,278 |
| All other expenses | $190 |
| Total functional expenses | $370,993 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,915 |
| Savings and temporary cash investments | $240,300 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,264 |
| 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 | $668,447 |
| Net Land, buildings, and equipment | $2,739,023 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,705,949 |
| Accounts payable and accrued expenses | $24,903 |
| Grants payable | $0 |
| Deferred revenue | $16,624 |
| 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 | $4,308,833 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $31,748 |
| Total liabilities | $4,382,108 |
| Net assets without donor restrictions | -$676,159 |
| 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 | $3,705,949 |
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