Overview
What is Lake Preston Housing Inc?
Lake Preston Housing Inc is a nonprofit organization situated in Lake Preston, South Dakota. Its primary mission is to provide affordable housing solutions for individuals with limited income, as they manage and oversee the construction and maintenance of 40 housing units in the area. Their activities are centered around ensuring that these units are well-maintained and accessible, contributing to the community's housing needs.
Is Lake Preston Housing Inc legitimate?
Lake Preston Housing Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. Lake Preston Housing Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of Lake Preston Housing Inc?
Lake Preston Housing Inc's mission is centered around providing affordable housing. Specifically, they engage in the development, construction, and management of 40 units of low-income housing units. By doing so, they aim to contribute to the housing needs of individuals with limited financial resources, thereby enhancing their living conditions. The organization's activities are focused on ensuring that these housing units are well-maintained and accessible, thereby providing a decent place to live for those in need.
Who is the CEO of Lake Preston Housing Inc?
Rick Hillestad is the President of Lake Preston Housing Inc.
What is the revenue of Lake Preston Housing Inc?
Lake Preston Housing Inc's revenue in 2022 was $248,890.
Who are the executives of Lake Preston Housing Inc and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Lake Preston Housing Inc?
Lake Preston Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lake Preston Housing Inc
Lake Preston Housing Inc, a nonprofit organization, is devoted to providing affordable housing solutions. Their primary mission is to develop, construct, and manage 40 units of low-income housing, aiming to make housing accessible for individuals who might otherwise struggle to secure suitable living accommodations. By taking on this role, Lake Preston Housing Inc contributes significantly to the community, ensuring that a diverse range of individuals can reside in a safe and comfortable environment.
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Impact
October, 2024
Lake Preston Housing Inc significantly impacts the community by providing 40 units of low-income housing in Lake Preston, SD. This initiative addresses the critical need for affordable housing in the area, creating accessible living options for individuals and families who might otherwise struggle to find suitable accommodations. By developing, constructing, and managing these housing units, Lake Preston Housing Inc plays a pivotal role in enhancing the quality of life for residents, fostering stability, and contributing to the overall well-being of the community. The presence of these affordable units can also stimulate local economic activity, as stable housing allows residents to engage more fully in their neighborhoods and the local economy.
This information is meant to be a general summary of Lake Preston Housing Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $271
- Program Service Revenue: $248,619
- Gross Receipts: $248,890
Assets and Liabilities:
- Total Assets: $560,670
- Total Liabilities: $597,644
- Net Assets: -$36,974
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$214,328
LAUNDRY INCOME
Revenue
$4,673
INSURANCE CLAIM
Revenue
$29,618
Organization Details
Founding Year
1973
Principal Officer
Rick Hillestad
Main Address
PO BOX 64, LAKE PRESTON, SD, 572490064
NTEE Category
Code: L20 - Housing
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