LASALLE PARK HOMES II INC

EIN: 200646982 501(c)(3) Housing & Shelter

SOUTH BEND, IN

Total Revenue
$308,432
Total Expenses
$376,187
Total Assets
$1,773,682
Net Assets
$-1,350,290
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
IN
Principal Officer
ROD LUDWIG
Phone
8778295500
Tax Period
2023-01-01 to 2023-12-31

LASALLE PARK HOMES II INC, founded in 2006, is a small nonprofit in the Housing & Shelter sector that reported $308K in total revenue in fiscal year 2023. Expenses of $376K exceeded revenue, resulting in a 22% operating deficit.

Mission

LASALLE PARK HOMES II, INC. IS AN INDIANA NOT-FOR-PROFIT CORPORATION WHICH WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 42 UNIT APARTMENT COMMUNITY IN SOUTH BEND, INDIANA KNOWN AS WILLIAM C. ELLISON RESIDENCE, PURSUANT TO SECTION 202 OF THE NATIONAL AFFORDABLE HOUSING ACT. THE CORPORATION HAS EXECUTED A REGULATORY AGREEMENT WITH HUD WHICH GOVERNS THE OPERATIONS OF THE PROJECT WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. IT HAS ALSO ENTERED INTO A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC CONTRACT) WITH HUD. THE PRAC CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW-INCOME FAMILIES OR PERSONS AS PROVIDED BY THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $161,733
Program Service Revenue $143,686
Investment Income $0
Other Revenue $3,013
TOTAL REVENUE $308,432

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $256,803
Other Expenses $376,187
TOTAL EXPENSES $376,187

Year-over-Year Comparison

2023 2022 Change
Revenue $308,432 $302,137 +0.0%
Expenses $376,187 $368,583 +0.0%
Net Income $-67,755 $-66,446 +0.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
9
Independent Members
9
Employees
N/A
Volunteers
9

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LYNN COLEMAN PRESIDENT 0.50
Officer Director
$0 $0 $0
ANTHONY DOUGLAS VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
JOHN NURKOWSKI CPA TREASURER 0.50
Officer Director
$0 $0 $0
CYNTHIA TAYLOR DIRECTOR 0.50
Director
$0 $0 $0
DAVE SCHROEDER DIRECTOR 0.50
Director
$0 $0 $0
SISTER SUSAN KINTZELE DIRECTOR 0.50
Director
$0 $0 $0
KOMONIQUE THOMAS DIRECTOR 0.50
Director
$0 $0 $0
LATONIA NEWHOUSE DIRECTOR 0.50
Director
$0 $0 $0
JIM TUESLEY DIRECTOR 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $308,432 $376,187 $1,773,682 $-67,755
2022 $302,137 $368,583 $1,830,172 $-66,446
2021 $282,388 $354,876 $1,885,237 $-72,488
2020 $274,552 $361,071 $1,956,701 $-86,519
2019 $279,744 $332,753 $2,026,390 $-53,009
2018 $274,738 $327,955 $2,089,463 $-53,217
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