Nonprofit · EIN 88-2751895
LAKE NORMAN COMMUNITY DEVELOPMENT
Tax-exempt · CORNELIUS, NC 28031
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $66,358 | $213,994 | -$147,636 | $266,666 | $0 | $266,666 |
| June 30, 2024 | 990 | $498,609 | $113,659 | $384,950 | $414,302 | $0 | $414,302 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $66,358
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $68,053
- Salaries, compensation and benefits (total)
- $73,650
- Professional fundraising fees
- $0
- Occupancy
- $3,315
- Program services (functional)
- $144,610
- Management and general (functional)
- $53,671
- Fundraising (functional)
- $15,713
Balance sheet and other
- Total assets, start of year
- $414,302
- Total assets, end of year
- $266,666
- Total liabilities, end of year
- $0
- Net assets, end of year
- $266,666
- Net assets without donor restrictions
- $202,098
- Net assets with donor restrictions
- $64,568
- Gross receipts
- $66,358
- Employees
- 1
- Volunteers
- 9
- Year formed
- 2022
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KRISHNA FOUNTAIN | EXECUTIVE DI Trustee or director, Officer | 40 | $35,753 |
| MICHAEL CARTER | DIRECTOR Trustee or director, Officer | 1 | $0 |
| WAYNE HERON | DIRECTOR Trustee or director | 1 | $0 |
| ZSUZI KADAR | DIRECTOR Trustee or director | 1 | $0 |
| JOE LABOIVITZ | DIRECTOR Trustee or director | 1 | $0 |
| MIKE MILTICH | DIRECTOR Trustee or director, Officer | 1 | $0 |
| JOE ROY | DIRECTOR Trustee or director | 1 | $0 |
| NANCY LONGWORTH THOMAS | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHELLE HOVERSON | EXECUTIVE DI Trustee or director, Officer | 20 | $46,500 |
| MICHAEL CARTER | DIRECTOR Trustee or director, Officer | 4 | $0 |
| WAYNE HERON | DIRECTOR Trustee or director | 1 | $0 |
| ZSUZI KADAR | DIRECTOR Trustee or director | 0.5 | $0 |
| JOE LABOIVITZ | DIRECTOR Trustee or director | 1 | $0 |
| MIKE MILTICH | DIRECTOR Trustee or director, Officer | 1 | $0 |
| JOE ROY | DIRECTOR Trustee or director | 1 | $0 |
| GEORGE SEARLE | DIRECTOR Trustee or director, Officer | 4 | $0 |
| NANCY LONGWORTH THOMAS | DIRECTOR Trustee or director | 0.5 | $0 |
Address and contacts
- Address (IRS master file)
- 19837 S MAIN STREET, CORNELIUS, NC 28031-8830
- Principal officer (990 for 2024)
- KRISHNA FOUNTAIN, 19837 MAIN ST, CORNELIUS, NC 28031
- Signed the 990
- KRISHNA FOUNTAIN, EXECUTIVE DIRECTOR
- Phone
- (704) 897-7340
- Website
- WWW.LAKENORMANCDC.ORG
- Return prepared by
- DONNA MOFFETT LLC
Mission
A NON-PROFIT FOCUSED ON CHANGING PEOPLE'S LIVES THROUGH ADVANCING ATTAINABLE AFFORDABLE HOUSING IN THE LAKE NORMAN REGION.
Program accomplishments
- LAKE NORMAN CDC OFFERS RENTAL BRIDGE, SENIOR RELIEF AND HOME PRESERVATION PROGRAMS. WE ARE WORKING WITH MUNICIPALITIES TO ADVANCE NEW INITIATIVES FUNDING GRANTS. SENIOR RENT RELIEF AND RENTAL BRIDGE PROGRAMS WERE FULLY OPERATIONAL WITH PERSONS RECEIVING ASSISTANCE. OUR HOME PRESERVATION FUND BECAME OPERATIONAL WITH HOMES RECEIVING CRITICAL HOME REPAIRS TO KEEP THE HOMES IN THE AFFORDABLE HOUSING INVENTORY.Expenses $144,610
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 88-2751895
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2023
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31)
- Assets (IRS master file)
- $266,666
- Income (IRS master file)
- $66,358
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $66,358 | $213,994 | $266,666 | XML |
| 990 | June 2024 | $498,609 | $113,659 | $414,302 | XML |
| 990 | June 2023 | $74,311 | $44,959 | $76,666 | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 88-2751895).
Questions about LAKE NORMAN COMMUNITY DEVELOPMENT
- What is the EIN of LAKE NORMAN COMMUNITY DEVELOPMENT?
- The employer identification number (EIN) of LAKE NORMAN COMMUNITY DEVELOPMENT is 88-2751895.
- Is LAKE NORMAN COMMUNITY DEVELOPMENT tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to LAKE NORMAN COMMUNITY DEVELOPMENT tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LAKE NORMAN COMMUNITY DEVELOPMENT file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LAKE NORMAN COMMUNITY DEVELOPMENT due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAKE NORMAN COMMUNITY DEVELOPMENT last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of LAKE NORMAN COMMUNITY DEVELOPMENT?
- The 990 for the year ended June 30, 2025 names KRISHNA FOUNTAIN.
- Who are the officers and directors of LAKE NORMAN COMMUNITY DEVELOPMENT?
- The 990 for the year ended June 30, 2025 lists 8 people; 1 received compensation from the organization, the highest $35,753 (KRISHNA FOUNTAIN, EXECUTIVE DI).
- How much revenue does LAKE NORMAN COMMUNITY DEVELOPMENT have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $66,358, expenses of $213,994 and total assets of $266,666 at year end.
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- CAROLINAS FOOTBALL CLUB EIN 83-4522850 · last filed 990 for 2025
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All nonprofits in CORNELIUS · North Carolina · Community improvement and capacity building