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Lha Enterprise Development INC FY2021 filing

Tax-deductible

Laurel, MS501(c)(3)HousingEIN 20-4597332

Lha enterprise development, INC. Is organized exclusively for charitable, religious, scientific, medical, literary or educational purposes within the meaning of section 501(c)(3) of the internal revenue code. The corporation is organized and shall be operated as an instrumentality of and to support the housing authority of the city of laurel, mississippi (the authority), a public housing authority estabilished under (I) the mississippi housing authorities law, and (II) the mississippi supplemental housing authorities law to provide decent, safe and sanitary urban or rural dwellings, apartments, or other living accommodations for persons of low income; including the acquisition, development, construction and operation of buildings, land, equipment, facilities, and other real or personal property for necessary, convenient, or desirable appurtenances, streets, sewers, water service, parks, site preparation, gardening, administrative, community, health, recreational, welfare or other purpo

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $226K a year · 66% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
24 mo
of spending, in cash
Looks good: 23.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$40K
-84% vs prior year
Spent
$305K
To programs
100%
Net assets
$1.0M
By yearFY2020–FY2024
Revenue
$40K
FY2021▼ -84%
Revenue by fiscal year
FY2020$248K
FY2021$40K
FY2022$12K
FY2023$1.3M
FY2024$143K
Expenses
$305K
FY2021▲ +120%
Expenses by fiscal year
FY2020$138K
FY2021$305K
FY2022$27K
FY2023$39K
FY2024$78K
Net assets
$1.0M
FY2021▼ -21%
Net assets by fiscal year
FY2020$1.3M
FY2021$1.0M
FY2022$2.7M
FY2023$3.9M
FY2024$4.0M

From the FY2021 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $305K

Form 990 Part IX, line 25. Every line is in By the numbers.

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Rev George Barnes
Vice Preside
$0Pt VII · Sec A
Ailrick Young
President
$0Pt VII · Sec A
See Lha Enterprise Development INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Develops and supports affordable housing for low-income individuals and families.

Provided by the organization

This section is blank until Lha Enterprise Development INC claims this page.

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By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$40K
Ln 12
Other incomeLn 4–11$40K
Investment incomeLn 3$463
Money outPt IX
$305K
Ln 25
Programscol B$305K
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$602K
Total assetsLn 16$1.0M
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$463
Other incomeLn 4–11$40K
Total revenueLn 12$40K
Assets in detailPt X, end of year
CashLn 1$602K
Cash and savings togetherLn 1–2$602K
Land, buildings, equipmentLn 10c$212K
Other assetsLn 15$200K
Total assetsLn 16$1.0M
LiabilitiesLn 26$0
Net assetsLn 32$1.0M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$867K$602K
Land, buildings, equipmentLn 10c$212K$212K
Total assetsLn 16$1.3M$1.0M
LiabilitiesLn 26$828$0
Net assetsLn 32$1.3M$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$4K$4K
Management feesLn 11a$35K$35K
Legal feesLn 11b$7K$7K
Accounting feesLn 11c$185$185
Other fees for servicesLn 11g$59K$59K
Office expensesLn 13$64$64
Payments to affiliatesLn 21$199K$199K
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$305K$305K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $143K$78K$66K$4.0M 990 PDF
FY2023 $1.3M$39K$1.2M$3.9M 990 PDF
FY2022 $12K$27K−$15K$2.7M 990 PDF
FY2021 Viewing $40K$305K−$264K$1.0M 990 PDF
FY2020 $248K$138K$109K$1.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $40,245 across 3 lines filed
VIII-3 Investment incomeRelated to mission $463$463
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $39,782$39,782
VIII-12 Total revenueRelated to mission $40,245$40,245
Part IX · Statement of functional expenses $304,652 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $4,000$4,000
IX-11a Management feesPrograms $35,000$35,000
IX-11b Legal feesPrograms $7,230$7,230
IX-11c Accounting feesPrograms $185$185
IX-11g Other fees for servicesPrograms $58,627$58,627
IX-13 Office expensesPrograms $64$64
IX-21 Payments to affiliatesPrograms $198,512$198,512
IX-24 Other expenses (24a–d)Programs $1,034$1,034
IX-25 Total functional expensesPrograms $304,652 · Management $0 · Fundraising $0$304,652
Part X · Balance sheet $1,013,759 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $866,744$601,509
X-10c Land, buildings and equipment, netStart of year $212,250$212,250
X-15 Other assetsStart of year $200,000$200,000
X-16 Total assetsStart of year $1,278,994$1,013,759
X-26 Total liabilitiesStart of year $828$0
X-27 Net assets without donor restrictionsStart of year $1,278,166$1,013,759
X-32 Total net assets or fund balancesStart of year $1,278,166$1,013,759
X-33 Total liabilities and net assetsStart of year $1,278,994$1,013,759
Part XI · Reconciliation of net assets $1,013,759 net assets at year end
XI-1 Total revenue$40,245
XI-2 Total expenses$304,652
XI-3 Revenue less expenses−$264,407
XI-4 Net assets at start of year$1,278,166
XI-10 Net assets at end of year$1,013,759

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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