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Lha Enterprise Development INC FY2023 filing

Tax-deductible

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

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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

FY2023 · 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
241 mo
of spending, in cash
Looks good: 241.4 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
$1.3M
×108 vs prior year
Spent
$39K
To programs
100%
Net assets
$3.9M
By yearFY2020–FY2024
Revenue
$1.3M
FY2023▲ ×108
Revenue by fiscal year
FY2020$248K
FY2021$40K
FY2022$12K
FY2023$1.3M
FY2024$143K
Expenses
$39K
FY2023▲ +45%
Expenses by fiscal year
FY2020$138K
FY2021$305K
FY2022$27K
FY2023$39K
FY2024$78K
Net assets
$3.9M
FY2023▲ +46%
Net assets by fiscal year
FY2020$1.3M
FY2021$1.0M
FY2022$2.7M
FY2023$3.9M
FY2024$4.0M

From the FY2023 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 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% · $39K

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

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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

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By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$1.3M
Investment incomeLn 3$12K
Money outPt IX
$39K
Ln 25
Programscol B$39K
Owns and owesPt X
$3.9M
net assets · Ln 32
Cash and savingsLn 1–2$794K
Total assetsLn 16$3.9M
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Government grantsLn 1e$1.3M
Investment incomeLn 3$12K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$794K
Cash and savings togetherLn 1–2$794K
Land, buildings, equipmentLn 10c$212K
Other assetsLn 15$2.9M
Total assetsLn 16$3.9M
LiabilitiesLn 26$0
Net assetsLn 32$3.9M
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 FY23End FY23
Cash and savingsLn 1–2$586K$794K
Land, buildings, equipmentLn 10c$212K$212K
Total assetsLn 16$2.7M$3.9M
LiabilitiesLn 26$0$0
Net assetsLn 32$2.7M$3.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$3K$3K
Other fees for servicesLn 11g$9K$9K
Office expensesLn 13$28K$28K
Total functional expensesLn 25$39K$39K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $143K$78K$66K$4.0M 990 PDF
FY2023 Viewing $1.3M$39K$1.2M$3.9M 990 PDF
FY2022 $12K$27K−$15K$2.7M 990 PDF
FY2021 $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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $1,276,596 across 4 lines filed
VIII-1e Government grants$1,264,936
VIII-1h Total contributions, gifts and grants$1,264,936
VIII-3 Investment incomeExcluded from tax $11,660$11,660
VIII-12 Total revenueExcluded from tax $11,660$1,276,596
Part IX · Statement of functional expenses $39,481 across 3 lines filed
IX-11b Legal feesPrograms $3,090$3,090
IX-11g Other fees for servicesPrograms $8,508$8,508
IX-13 Office expensesPrograms $27,883$27,883
IX-25 Total functional expensesPrograms $39,481 · Management $0 · Fundraising $0$39,481
Part X · Balance sheet $3,926,811 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $586,107$794,231
X-10c Land, buildings and equipment, netStart of year $212,250$212,250
X-15 Other assetsStart of year $1,891,339$2,920,330
X-16 Total assetsStart of year $2,689,696$3,926,811
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $2,689,696$3,926,811
X-32 Total net assets or fund balancesStart of year $2,689,696$3,926,811
X-33 Total liabilities and net assetsStart of year $2,689,696$3,926,811
Part XI · Reconciliation of net assets $3,926,811 net assets at year end
XI-1 Total revenue$1,276,596
XI-2 Total expenses$39,481
XI-3 Revenue less expenses$1,237,115
XI-4 Net assets at start of year$2,689,696
XI-10 Net assets at end of year$3,926,811

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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