Living Development Concepts Inc.
Fiscal Year
Fiscal Year Start
01/01/2024
Fiscal Year End
12/31/2024
Projected Revenue
$1,700,900.00
Projected Expenses
$1,125,900.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| IRS Letter of Determination |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $1,274,306.00 | $1,454,077.00 | $485,041.00 |
| Total Expenses | $780,565.00 | $750,461.00 | $303,938.00 |
| Revenue Less Expenses | $493,741.00 | $703,616.00 | $181,103.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $718,221.00 | $690,358.00 | $300,117.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $424,000.00 | $521,500.00 | $0.00 |
| Government - Unspecified | $94,375.00 | $0.00 | $143,125.00 |
| Contributions, Gifts, and Grants | $20,730.00 | $74,215.00 | $17,969.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $13,608.00 | $0.00 | $10,538.00 |
| Investment Income, Net of Losses | $13,608.00 | $0.00 | $0.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $0.00 | $0.00 |
| Revenue In-Kind | $0.00 | $0.00 | $0.00 |
| Other | $3,372.00 | $168,004.00 | $13,292.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $780,565.00 | $744,123.00 | $295,980.00 |
| Administration Expense | $0.00 | $6,338.00 | $7,958.00 |
| Fundraising Expense | $0.00 | $0.00 | $0.00 |
| Total Revenue/Total Expenses | 163% | 194% | 160% |
| Program Expense/Total Expenses | 100% | 99% | 97% |
| Fundraising Expense/Contributed Revenue | 0% | 0% | 0% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Foundation and Corporations $718,221.00 | Foundation and Corporations $690,358.00 | Foundation and Corporations $300,117.00 |
| Second Highest Funding Source & Dollar Amount | Local Government Grants $424,000.00 | Local Government Grants $521,500.00 | Government Grants $143,125.00 |
| Third Highest Funding Source & Dollar Amount | Government Grants $94,375.00 | Other Revenue $168,004.00 | Contributions, Gifts, Grants $17,969.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $1,776,098.00 | $1,335,927.00 | $624,509.00 |
| Current Assets | $715,907.00 | $699,736.00 | $427,101.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $43,313.00 |
| Current Liabilities | $1,660.00 | $61,627.00 | $1,660.00 |
| Total Net Assets | $1,774,438.00 | $1,274,300.00 | $579,536.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
June
Permit Expiration Year
2024
Solicitations Permit
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| LDC desires dedicated resources to develop more housing projects since this is a performance-based environment. Affiliating with other non-profits or for-profits entities is very important in developing affordable housing while operating in an atmosphere of collaboration. Our organization capacity must be increased to ensure successful growth as well as being structured to address needs and risks of development, positioning our organization for success. |
Foundation Staff Comments
| Financial figures taken from the Form 990, which was prepared by SPD, CPAs. Comments provided by Hayley Sulfridge 3/13/24. |
