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Centro Lancaster Ltd FY2021 filing

Tax-deductible

Lancaster, PA501(c)(3)Community DevelopmentEIN 81-3782414

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Operate a commercial center to promote and stimulate commercial activity in Lancaster, PA.

501(c)(3) charity; gifts are tax-deductible.
60¢ 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
1 of 5
filings with a surplus
Average surplus $102K a year · 21% of revenue · last 5 filings
Worth a look: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
60%
of spending
Worth a look: 60% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 9.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4.4M
118% of total assets
Concern: liabilities are 118% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$208K
-13% vs prior year
Spent
$371K
To programs
60%
Net assets
−$676K
By yearFY2020–FY2024
Revenue
$208K
FY2021▼ -13%
Revenue by fiscal year
FY2020$240K
FY2021$208K
FY2022$221K
FY2023$1.4M
FY2024$258K
Expenses
$371K
FY2021▲ +0.9%
Expenses by fiscal year
FY2020$368K
FY2021$371K
FY2022$414K
FY2023$441K
FY2024$271K
Net assets
−$676K
FY2021▼ -32%
Net assets by fiscal year
FY2020−$514K
FY2021−$676K
FY2022−$870K
FY2023$135K
FY2024$122K

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 Jun 2017.

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

Where the money goes

60 cents of each dollar spent went to programs.

Program services 60% · $224K Management & general 40% · $147K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
C Ted Darcus
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Miriam Ortega
Secretary
$0Pt VII · Sec A
Jodie Richardson
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
See Centro Lancaster Ltd 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Operates a commercial center to boost business activity in Lancaster, PA.

Provided by the organization

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1 program · $224K · in their own filed words · FY2021
01

Current tenants include an international grocery store, cell phone store, barber shop, real estate agent and a chinese restaurant. The sixth unit, a wine and book bar, is currently doing fitout and is scheduled to open this summer. The community has embraced the plaza and the businesses are doing well.

$224Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$208K
Ln 12
Fees for servicesLn 2g$208K
Money outPt IX
$371K
Ln 25
Programscol B$224K
Managementcol C$147K
Owns and owesPt X
−$676K
net assets · Ln 32
Cash and savingsLn 1–2$282K
Total assetsLn 16$3.7M
LiabilitiesLn 26$4.4M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$208K
Total revenueLn 12$208K
Assets in detailPt X, end of year
CashLn 1$42K
SavingsLn 2$240K
Cash and savings togetherLn 1–2$282K
Land, buildings, equipmentLn 10c$2.7M
Total assetsLn 16$3.7M
LiabilitiesLn 26$4.4M
Net assetsLn 32−$676K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$343K$282K
Land, buildings, equipmentLn 10c$2.8M$2.7M
Total assetsLn 16$3.8M$3.7M
LiabilitiesLn 26$4.3M$4.4M
Net assetsLn 32−$514K−$676K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$437$437
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$30K$8K$22K
Advertising and promotionLn 12$8K$8K
OccupancyLn 16$96K$96K
InterestLn 20$122K$122K
Depreciation, depletion and amortizationLn 22$108K$108K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$190$190
Total functional expensesLn 25$371K$224K$147K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $258K$271K−$12K$122K 990 PDF
FY2023 $1.4M$441K$1.0M$135K 990 PDF
FY2022 $221K$414K−$193K−$870K 990 PDF
FY2021 Viewing $208K$371K−$163K−$676K 990 PDF
FY2020 $240K$368K−$128K−$514K 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 $208,469 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $208,469$208,469
VIII-12 Total revenueRelated to mission $208,469 · Unrelated business $0 · Excluded from tax $0$208,469
Part IX · Statement of functional expenses $370,993 across 9 lines filed
IX-11b Legal feesManagement $437$437
IX-11c Accounting feesManagement $1,800$1,800
IX-11g Other fees for servicesPrograms $7,800 · Management $22,500$30,300
IX-12 Advertising and promotionPrograms $7,875$7,875
IX-16 OccupancyPrograms $95,911$95,911
IX-20 InterestManagement $122,438$122,438
IX-22 Depreciation, depletion and amortizationPrograms $107,764$107,764
IX-23 InsurancePrograms $4,278$4,278
IX-24 Other expenses (24a–d)Programs $190$190
IX-25 Total functional expensesPrograms $223,818 · Management $147,175 · Fundraising $0$370,993
Part X · Balance sheet $3,705,949 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $83,517$41,915
X-2 Savings and temporary cash investmentsStart of year $259,383$240,300
X-4 Accounts receivableStart of year $28,129$16,264
X-9 Prepaid expenses and deferred chargesStart of year $694,963$668,447
X-10c Land, buildings and equipment, netStart of year $2,764,290$2,739,023
X-16 Total assetsStart of year $3,830,282$3,705,949
X-17 Accounts payable and accrued expensesStart of year $14,795$24,903
X-19 Deferred revenueStart of year $16,624$16,624
X-25 Other liabilitiesStart of year $31,748$31,748
X-26 Total liabilitiesStart of year $4,343,917$4,382,108
X-27 Net assets without donor restrictionsStart of year −$513,635−$676,159
X-32 Total net assets or fund balancesStart of year −$513,635−$676,159
X-33 Total liabilities and net assetsStart of year $3,830,282$3,705,949
Part XI · Reconciliation of net assets −$676,159 net assets at year end
XI-1 Total revenue$208,469
XI-2 Total expenses$370,993
XI-3 Revenue less expenses−$162,524
XI-4 Net assets at start of year−$513,635
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$676,159

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

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