Lafayette Yard Community Development Corporation in Bloomfield Hills, Michigan (MI)

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Lafayette Yard Community Development Corporation
Employer Identification Number (EIN)223618383
Name of OrganizationLafayette Yard Community Development Corporation
In Care of NameAcquest
Address4701 Woodward Ave 100, Bloomfield Hills, MI 48304
SubsectionCharitable Organization
Ruling Date02/2000
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$30,069,842
Amount of Income$24,034,683
Form 990 Revenue Amount$24,034,683
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Community Coalitions


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Amount of income in 2011: $24,034,683
Lafayette Yard Community Development Corporation: 

 $24,034,683
Other organizations performing similar types of work: 

 $70,400

Assets in 2011: $30,069,842
Lafayette Yard Community Development Corporation: 

 $30,069,842
Other organizations performing similar types of work: 

 $31,504

Expenses in 2007: $16,190,087
Lafayette Yard Community Development Corporation: 

 $16,190,087
Other organizations performing similar types of work: 

 $70,773

Income to expenses ratio in 2007: 0.6
Lafayette Yard Community Development Corporation: 

 0.6
Other organizations performing similar types of work: 

 0.8

Expenses allocated to program services in 2007: 100.0%
This organization: 

 100.0%
Other organizations performing similar types of work: 

 38.3%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200220032004200520062007
Total revenue$5,944,852$11,740,375$12,354,908$10,743,210$9,955,088$9,852,087
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0
Program service revenue including government fees and contracts$5,944,852$11,596,105$11,434,907$10,743,210$9,888,446$9,790,722
Membership dues and assessments$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$144,270$920,001$0$66,642$61,365
Dividends and interest from securities$0$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$0
Less: cost or other basis and sales expenses$0$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0
Total expenses$11,626,442$16,120,041$15,123,145$16,018,203$15,144,242$16,190,087
Program services$11,626,442$16,120,041$15,123,145$16,018,203$15,144,242$16,190,087
Management and general$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0
Net assets or fund balances at end of year$-5,681,590$-9,615,035$-12,383,270$-17,658,263$-22,847,417$-28,166,572
Excess or (deficit) for the year$-5,681,590$-4,379,666$-2,768,237$-5,274,993$-5,189,154$-6,338,000
Net assets or fund balances at beginning of year$0$-5,681,590$-9,615,033$-12,383,270$-17,658,263$-22,847,417
Other changes in net assets or fund balances$0$446,221$0$0$0$1,018,845
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$16,190,087$16,190,087$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$147,198$147,198$0$0
Postage and shipping$0$0$0$0
Occupancy$697,975$697,975$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$1,890,771$1,890,771$0$0
Depreciation, depletion, etc.$2,566,800$2,566,800$0$0
Other expenses not covered above$10,887,343$10,887,343$0$0
Balance Sheets
200220032004200520062007
Total assets$57,221,085$55,728,532$53,115,268$41,069,745$37,519,014$34,056,002
Cash - non-interest-bearing$721,668$123,687$321,517$516,368$342,633$161,188
Savings and temporary cash investments$2,731,469$2,552,288$2,568,181$3,369,454$3,932,807$3,043,419
Accounts receivable less allowance for doubtful accounts$624,094$12,659$340,677$662,866$468,818$653,362
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0
Inventories for sale or use$48,764$0$50,999$61,620$52,391$30,333
Prepaid expenses and deferred charges$0$0$0$0$0$0
Investments - publicly-traded securities$0$0
Investments - other securities$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$52,362,593$52,339,319$49,156,115$35,804,458$32,090,186$29,558,321
Other assets, including program-related investments$732,497$700,579$677,779$654,979$632,179$609,379
Total liabilities$62,902,675$65,343,567$65,498,538$58,728,008$60,366,431$62,222,574
Accounts payable and accrued expenses$12,560,936$12,485,331$13,133,719$2,832,303$3,090,200$3,409,371
Grants payable$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0
Tax-exempt bond liabilities$30,616,468$33,770,000$33,770,000$33,260,000$32,725,000$32,165,000
Mortgages and other notes payable$0$1,727,427$0$10,840,000$13,070,157$13,549,326
Other liabilities$19,725,271$17,360,809$18,594,819$11,795,705$11,481,074$13,098,877
Total liabilities and net assets/fund balances$57,221,085$55,728,532$53,115,268$41,069,745$37,519,014$34,056,002
Total net assets or fund balances$-5,681,590$-9,615,035$-12,383,270$-17,658,263$-22,847,417$-28,166,572
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200220032004200520062007
Total revenue$5,944,852$11,740,375$12,354,908$0$0$0
Total revenue, gains, and other support per audited financial statements$5,944,852$11,740,375$12,354,908$0$0$0
Other expenses$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0
Other$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200220032004200520062007
Total expenses$11,626,442$16,120,041$15,123,145$0$0$0
Total expenses and losses per audited financial statements$11,626,442$16,120,041$15,123,145$0$0$0
Other revenue$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0
Losses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings5
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$61,365$9,790,722
Program service revenue
Program service revenue 1000000$000$0$5,087,610
Program service revenue 2000000$000$0$165,544
Program service revenue 3000000$000$0$1,001,534
Program service revenue 4000000$000$0$2,319,179
Program service revenue 5000000$000$0$1,216,855
000000$000$0$5,087,610
000000$000$0$165,544
000000$000$0$1,001,534
000000$000$0$2,319,179
000000$000$0$72,570
000000$000$0$410,279
000000$000$0$352,128
000000$000$0$381,878
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$61,365$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
200120022003200420052006
Total$0$6,054,957$11,740,375$12,354,908$10,743,210$9,955,088
Gifts, grants, and contributions received$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$5,944,852$11,596,105$11,434,907$10,743,210$9,888,446
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$110,105$144,270$920,001$0$66,642
Net income from unrelated business activities not included above$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0
Other income$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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IdNameAddressStateEstablishedTotal Income
1Brrh Foundation Inc745 Meadows Rd, Boca Raton, FL 33486-2324FL2004-12$34,699,724
2Lafayette Yard Community Development Corporation4701 Woodward Ave 100, Bloomfield Hills, MI 48304MI2000-02$24,034,683
3New Hampshire Citizens Alliance For Action4 Park St Ste 304, Concord, NH 03301-6313NH1999-11$214,070
4Westmoreland County Area Labor Management Committee, 4205 Bci145 Pavilion Ln, Youngwood, PA 15697-1814PA2000-09$202,574
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8Northwest Indiana Community Action Corp5240 Fountain Dr, Crown Point, IN 46307-1084IN1966-11$26,773,729
9Community Action Of Northeast Indiana IncPO BOX 10570, Fort Wayne, IN 46853-0570IN1965-12$20,479,295
10PolicylinkSuite 303, Oakland, CA 94612CA1998-11$11,538,493
11Shackelford County Community Resource CenterPO BOX 2435, Albany, TX 76430-8020TX1995-01$7,106,094
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15New Town Macon Inc479 Cherry St, Macon, GA 31201-3320GA1998-05$4,331,147
16Action Greensboro317 S Elm St, Greensboro, NC 27401-2603NC2002-03$3,537,723
17Grow Benzie Inc5885 Frankfort Hwy, Beulah, MI 49617MI2008-12$266,029
18Greater Pontiac Community Coalition Inc143 Oneida St, Pontiac, MI 48341-1626MI1996-04$59,577
19Homecor151 Central Avenue, Holland, MI 49423-2831MI1996-06$56,663
20Pine River Superfund Citizen Task Force Of Gratiot County IncPO BOX 172, St Louis, MI 48880-0172MI2007-12$19,228
Number of organizations performing similar types of work
Alaska3
Alabama21
Arkansas8
Arizona17
California208
Colorado25
Connecticut15
District of Columbia14
Delaware5
Florida78
Georgia44
Hawaii7
Iowa17
Idaho17
Illinois43
Indiana23
Kansas16
Kentucky19
Louisiana17
Massachusetts27
Maryland36
Maine13
Michigan47
Minnesota14
Missouri35
Mississippi12
Montana10
North Carolina46
North Dakota3
Nebraska10
New Hampshire6
New Jersey40
New Mexico11
Nevada14
New York80
Ohio37
Oklahoma15
Oregon26
Pennsylvania54
Rhode Island12
South Carolina17
South Dakota3
Tennessee27
Texas102
Utah8
Virginia35
Vermont8
Washington43
Wisconsin21
West Virginia11
Wyoming3
International3
Total1,426

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