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L J R Corporation EIN 03-0508346

L J R Corporation

EIN  03-0508346 Public charity (501(c)(3)) Providence, RI Founded 2002
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Size
$100K–1M
What they do
Provides low-income housing and services for people with disabilities.
Leadership
Henry Sachs III · President
Money in and out
$124K revenue, $169K expenses
Bottom line
73% program efficiency

Provides low-income housing and services for people with disabilities. For fiscal year 2024 it reported $124K in revenue, $169K in expenses, and $-118K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$124K
Pt VIII · Ln 12
Total expenses
$169K
Pt IX · Ln 25
Net assets
$-118K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$45K
Where spending went · Part IX cols B–D
Program services $0.73 Management & general $0.27
Program efficiency
73%
of spending reaches programs▲ +2% vs prior filing year
Operating runway
19.6mo
months of highly liquid reserves at operating expense rate▼ -19% vs prior filing year
Surplus margin
-36%
revenue over expenses, this year▼ -794% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$124K
FY2024▼ -10%
Expenses
$169K
FY2024▲ +18%
Total assets
$948K
FY2024▼ -6%
Total liabilities
$1.1M
FY2024▼ -1%
Total revenue
$124K
Pt VIII · Ln 12
Total expenses
$169K
Pt IX · Ln 25
Net assets
$-118K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$45K
Total assetsPt X · Ln 16$948K
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service account for $124K of program spending, described in the organization's own filed words · FY2024.
01

To provide low-income housing and access to support services to people with physical and psychological challenges. LJR has a total of 10 units located in a condominium complex at 1145 Hartford Avenue in Johnston, Rhode Island. The occupancy rate was 92% during the fiscal year covered in this return.

$124Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CL J R Corporation
EINHdr · item D03-0508346
Principal addressHdr · item CProvidence, RI
WebsiteHdr · item Jwww.gatewayhealth.org
Year of formationHdr · item L2002
State of legal domicileHdr · item MRI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L21)
Ruling yearIRS BMFSep 2003

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Scott Dichristofero
Former Officer
$0Pt VII · Sec A
Jay Burdick
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$73K · 59%
Program service revenue$47K · 38%
Investment income$4K · 3%
Other revenue$1K · 1%
Contributions & grants59%$73K
Program service revenue38%$47K
Investment income3%$4K
Other revenue1%$1K
— government grantsLn 1e$73K
Total revenueLn 12$124K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.27
Program services73%$124K
Management & general27%$45K
Total functional expensesLn 25$169K

Balance Sheet

Part X · end of year
CashLn 1$276K
Total assetsLn 16$948K
Total liabilitiesLn 26$1.1M
Total net assetsLn 32$-118K
Months of cash on handcomputed19.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $276K · Operating expenses/yr $169K
19.6 months
Where the money goes
Program services
Program services $124K · Total expenses $169K
73%
Management & General
Management & general $45K · Total expenses $169K
27%
Fundraising
Fundraising $0 · Total expenses $169K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $73K · Total revenue $124K
59%
Government reliance
Government grants $73K · Total revenue $124K
59%
Earned-income share
Program service revenue $47K · Total revenue $124K
38%
Investment reliance
Investment income $4K · Total revenue $124K
+3%
Program self-sufficiency
Program service revenue $47K · Total expenses $169K
28%
Growth & trend
Revenue growth (YoY)
This year $124K · Prior year $138K
-10%
Revenue CAGR
FY2019 $132K · FY2024 $124K
-1%
Net-asset trend (YoY)
End of year $-118K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $124K · Expenses $169K
-36%
Liabilities-to-Assets
Total liabilities — · Total assets $948K
—
Net-asset ratio
Net assets $-118K · Total assets $948K
-12%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $948K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Henry Sachs III · Reported title President · Highest reported compensation $0 · Total expenses $169K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $169K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 73%——
Overhead ratio 27%——
Revenue growth -10%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$138K revenue · ⤓ 990 PDF
FY2023$135K revenue · ⤓ 990 PDF
FY2022$135K revenue · ⤓ 990 PDF
FY2021$132K revenue · ⤓ 990 PDF
FY2020$132K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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