Lake County Land Reutilization Corp
- Assets
- $7.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 1
- Location
- Painesville, OH
- Founding
- 08/2014
- Data as of
- 12/2021
- EIN
- 90-0889645
Organization Overview
Lake County Land Reutilization Corp is located in Painesville, OH. The organization was established in 2014. 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. Lake County Land Reutilization Corp 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, Lake County Land Reutilization Corp generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.7%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOLDS AND MANAGES VACANT, ABANDONED OR TAX-FORECLOSED REAL PROPERTY PENDING ITS RECLAMATION, REHABILITATION AND REUTILIZATION. ASSISTS GOVERNMENTAL ENTITIES AND OTHER NON-PROFIT OR FOR-PROFIT PERSONS TO ASSEMBLE AND CLEAR THE TITLE OF THE PREVIOUSLY DESCRIBED PROPERTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John M Rogers Executive Di | Officer | 40 | $73,450 |
Hon Timothy S Manross Chairman | OfficerTrustee | 1 | $0 |
Malcolm A Chafer Board Member | Trustee | 1 | $0 |
Gabe Cicconetti Board Member | Trustee | 1 | $0 |
Jack Cornachio Board Member | Trustee | 1 | $0 |
Kenneth Filipiak Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,442,535 |
| All other contributions, gifts, grants, and similar amounts not included above | $68,409 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,510,944 |
| Total Program Service Revenue | $17,335 |
| Investment income | $6,878 |
| 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 | $1,535,157 |
| 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. | $73,450 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $53,055 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,051 |
| Payroll taxes | $4,272 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,000 |
| Fees for services: Accounting | $9,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,466 |
| Office expenses | $5,451 |
| Information technology | $136 |
| Royalties | $0 |
| Occupancy | $5,400 |
| Travel | $443 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,145 |
| Insurance | $4,901 |
| All other expenses | $165,610 |
| Total functional expenses | $1,044,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,527 |
| Savings and temporary cash investments | $3,111,725 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,110 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,944,379 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $8,566 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $157,566 |
| Total assets | $7,298,873 |
| Accounts payable and accrued expenses | $1,473 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,473 |
| Net assets without donor restrictions | $7,297,400 |
| 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 | $7,298,873 |
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|---|---|---|
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Mountainheart Community Servces Inc Oceana, WV | $5,735,709 | $13,660,570 |
West Ohio Community Action Partnership Lima, OH | $6,981,623 | $15,279,840 |
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