Larue Development Corporation FY2024 filing

Not tax-deductible

La Rue, OH501(c)(4)EIN 23-7284122Revenue $141K in FY2024

On file with the IRS647 N Section St, 43332-9298 · La Rue, OHTax-exempt since Oct 1973

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The mission is to provide affordable apartments to medium and low income senior citizens.

96¢ of each $1 spent went to programs.
$4K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $6K a year · 5% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$4K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$146K
81% of total assets
Concern: liabilities are 81% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 9 voting members
Concern: none of 9 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$141K
+6% vs prior year
Spent
$124K
To programs
96%
Net assets
$35K
By yearFY2020–FY2025
Revenue
$141K
FY2024▲ +6%
Tap a bar for its year
Revenue by fiscal year
FY2020$128K
FY2021$138K
FY2022$138K
FY2023$133K
FY2024$141K
FY2025$146K
Expenses
$124K
FY2024▼ -15%
Tap a bar for its year
Expenses by fiscal year
FY2020$121K
FY2021$127K
FY2022$138K
FY2023$146K
FY2024$124K
FY2025$131K
Net assets
$35K
FY2024▲ +377%
Tap a bar for its year
Net assets by fiscal year
FY2020$10K
FY2021$21K
FY2022$21K
FY2023$7K
FY2024$35K
FY2025$51K

From the FY2024 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1973.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $120K Management & general 4% · $5K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990; $4K paid to officers and key staff.

Part VII, Section A · reportable compensation
Bkpr Trustee
$3,600Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President & Tru
$0Pt VII · Sec A
$0Pt VII · Sec A
V Pres & Truste
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2024FY2023FY2022FY2020
Pam Clawson$3,600$3,600$5,400$6,000
Don King——$4,707—
Vicki Long—$3,600$1,800—
Jeffrey Wall———$3,188
Donald Friend——$1,786—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Provides affordable apartments for low and medium-income seniors.

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Provided by the organization

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1 program · $120K · in their own filed words · FY2024
01

To provode 36 one and two bedroom apartments to medium and low income senior citizens. Monthly rents are approx $300 for one bedroom,and $350 for two bedroom apartments, which include water and sewer. The aprtment complex includes laundry facilities and a social hall for tenants' recreational activiites

$120Kprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$141K
Ln 12
Fees for servicesLn 2g$134K
Other incomeLn 4–11$7K
Money outPt IX
$124K
Ln 25
Programscol B$120K
Managementcol C$5K
Owns and owesPt X
$35K
net assets · Ln 32
Cash and savingsLn 1–2$35K
Total assetsLn 16$181K
LiabilitiesLn 26$146K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$134K
Other incomeLn 4–11$7K
Gains on assetsLn 7$0
Total revenueLn 12$141K
Assets in detailPt X, end of year
CashLn 1$32K
SavingsLn 2$3K
Cash and savings togetherLn 1–2$35K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$145K
Other assetsLn 15$0
Total assetsLn 16$181K
LiabilitiesLn 26$146K
Net assetsLn 32$35K
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$39K$35K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$122K$145K
Total assetsLn 16$162K$181K
LiabilitiesLn 26$154K$146K
Net assetsLn 32$7K$35K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$4K$4K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$12K$12K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$2K$2K
Management feesLn 11a$0
Legal feesLn 11b$400$400
Accounting feesLn 11c$2K$2K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$150$150
Office expensesLn 13$2K$2K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$7K$7K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$38K$38K
Other expenses (24a–d)Ln 24$57K$57K
All other expensesLn 24e$213$213
Total functional expensesLn 25$124K$120K$5K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $146K$131K$16K$51K 990 PDF
FY2024 Viewing $141K$124K$17K$35K 990 PDF
FY2023 $133K$146K−$13K$7K 990 PDF
FY2022 $138K$138K−$12$21K 990 PDF
FY2021 $138K$127K$11K$21K 990 PDF
FY2020 $128K$121K$7K$10K 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 FY2024 990 (6 parts)
Part I · Summary $141,150 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $128,096$134,048
I-10 Investment incomePrior year $35$0
I-11 Other revenuePrior year $5,342$7,102
I-12 Total revenuePrior year $133,473$141,150
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $20,486$17,458
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $125,963$106,744
I-18 Total expensesPrior year $146,449$124,202
I-19 Revenue less expensesPrior year −$12,976$16,948
Part VI · Governance 0 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $141,150 across 9 lines filed
Lines not itemized here account for $938 of total revenue; see the IRS return.
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $134,048$134,048
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $6,164$6,164
VIII-12 Total revenueRelated to mission $141,150$141,150
Part IX · Statement of functional expenses $124,202 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $3,600$3,600
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $12,074$12,074
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $1,784$1,784
IX-11a Management fees$0
IX-11b Legal feesManagement $400$400
IX-11c Accounting feesManagement $2,000$2,000
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionManagement $150$150
IX-13 Office expensesManagement $1,882$1,882
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $7,283$7,283
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $37,915$37,915
IX-24 Other expenses (24a–d)Programs $56,901$56,901
IX-24e All other expensesManagement $213$213
IX-25 Total functional expensesPrograms $119,557 · Management $4,645 · Fundraising $0$124,202
Part X · Balance sheet $180,782 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $24,660$32,071
X-2 Savings and temporary cash investmentsStart of year $14,340$3,201
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $122,010$144,677
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assetsStart of year $518$833
X-15 Other assets$0
X-16 Total assetsStart of year $161,528$180,782
X-17 Accounts payable and accrued expensesStart of year $865$1,529
X-26 Total liabilitiesStart of year $154,274$146,175
X-32 Total net assets or fund balancesStart of year $7,254$34,607
X-33 Total liabilities and net assetsStart of year $161,528$180,782
Part XI · Reconciliation of net assets $34,607 net assets at year end
XI-1 Total revenue$141,150
XI-2 Total expenses$124,202
XI-3 Revenue less expenses$16,948
XI-4 Net assets at start of year$7,254
XI-8 Prior period adjustments$10,405
XI-10 Net assets at end of year$34,607

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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