Civic Intelligence

Lakes Senior Housing Inc.

990 • Fiscal year 2016 • EIN 34-1343665

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 27, 2017

730 West Market StreetAkron, OH 44303

(330) 762-4011

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

98th percentile

1.87x

Higher debt load relative to assets than 98% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

93rd percentile

3.45x

Higher debt load relative to revenue than 93% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

64th percentile

7.6%

Higher net margin than 64% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

47th percentile

0.5%

Faster asset growth than 47% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

46th percentile

1.4%

Faster revenue growth than 46% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Up

$1,129,990

Up $5,227 (+0.5%) from 2015

Net Assets

Up

-$981,720

Up $46,636 (+4.5%) from 2015

Liabilities

Down

$2,111,710

Down $41,409 (-1.9%) from 2015

Revenue

Up

$612,578

Up $8,622 (+1.4%) from 2015

Expenses

Down

$565,942

Down $130,198 (-19%) from 2015

Net Income

Up

$46,636

Up $138,820 (+151%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2010: $1,610,695Liabilities 2010: $2,297,649Net Assets 2010: -$686,9542010Assets 2011: $1,571,373Liabilities 2011: $2,253,327Net Assets 2011: -$681,9542011Assets 2012: $1,546,355Liabilities 2012: $2,267,701Net Assets 2012: -$721,3462012Assets 2013: $1,352,483Liabilities 2013: $2,232,135Net Assets 2013: -$879,6522013Assets 2014: $1,238,534Liabilities 2014: $2,174,706Net Assets 2014: -$936,1722014Assets 2015: $1,124,763Liabilities 2015: $2,153,119Net Assets 2015: -$1,028,3562015Assets 2016: $1,129,990Liabilities 2016: $2,111,710Net Assets 2016: -$981,7202016Assets 2017: $1,053,704Liabilities 2017: $2,049,710Net Assets 2017: -$996,0062017Assets 2018: $1,014,619Liabilities 2018: $2,029,678Net Assets 2018: -$1,015,0592018Assets 2019: $966,155Liabilities 2019: $1,934,453Net Assets 2019: -$968,2982019Assets 2020: $994,514Liabilities 2020: $1,927,066Net Assets 2020: -$932,5522020Assets 2021: $867,671Liabilities 2021: $1,833,685Net Assets 2021: -$966,0142021Assets 2022: $858,663Liabilities 2022: $1,785,891Net Assets 2022: -$927,2282022Assets 2023: $755,819Liabilities 2023: $1,666,003Net Assets 2023: -$910,1842023Assets 2024: $808,003Liabilities 2024: $1,631,494Net Assets 2024: -$823,4912024

Highlighted filing

2016

Assets$1,129,990
Liabilities$2,111,710
Net Assets-$981,720

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $534,5022010Expenses 2011: $565,8052011Expenses 2012: $624,7532012Expenses 2013: $750,1142013Revenue 2014: $598,210Expenses 2014: $654,730Net Income 2014: -$56,5202014Revenue 2015: $603,956Expenses 2015: $696,140Net Income 2015: -$92,1842015Revenue 2016: $612,578Expenses 2016: $565,942Net Income 2016: $46,6362016Revenue 2017: $627,124Expenses 2017: $641,410Net Income 2017: -$14,2862017Revenue 2018: $639,689Expenses 2018: $658,742Net Income 2018: -$19,0532018Revenue 2019: $646,113Expenses 2019: $599,352Net Income 2019: $46,7612019Revenue 2020: $653,731Expenses 2020: $617,985Net Income 2020: $35,7462020Revenue 2021: $692,897Expenses 2021: $726,359Net Income 2021: -$33,4622021Revenue 2022: $687,007Expenses 2022: $648,221Net Income 2022: $38,7862022Revenue 2023: $660,390Expenses 2023: $643,346Net Income 2023: $17,0442023Revenue 2024: $732,995Expenses 2024: $646,302Net Income 2024: $86,6932024

Highlighted filing

2016

Revenue$612,578
Expenses$565,942
Net Income$46,636
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 27, 2017
Return Version
2015v3.0
Gross Receipts
$612,578
Mission and Program Overview

Mission

Low income housing for the elderly and disabled persons

Low-income housing for elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$750,655$675,903▼ $74,752
Savings and Temporary Cash Investments$13,693$71,231▲ $57,538
Prepaid Expenses and Deferred Charges$17,890$16,944▼ $946
Accounts Receivable$57$823▲ $766
Cash and Non-Interest-Bearing Accounts$100$100→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-1,028,356$-981,720▲ $46,636
Total Assets$1,124,763$1,129,990▲ $5,227
Other Assets Total$342,368$364,989▲ $22,621
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,070,079$2,025,438▼ $44,641
Accounts Payable and Accrued Expenses$67,765$68,504▲ $739
Other Liabilities$15,128$16,518▲ $1,390
Deferred Revenue$147$1,250▲ $1,103
Total Liabilities$2,153,119$2,111,710▼ $41,409
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,028,356$-981,720▲ $46,636
Total Liabilities and Net Assets / Fund Balance$1,124,763$1,129,990▲ $5,227

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$539,922$1,627,289$2,167,211
Equipment$43,889$176,301$220,190
Land$92,092-$92,092
Other Assets Org$27,049--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$612,340
Investment Income
$238
Other Revenue
$0
Change in Net Assets
$46,636

Audited Revenue Reconciliation

Revenue per Audited Statements
$612,578
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$612,578
Total Revenue per Form 990
$612,578
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$565,942
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$187,049--$187,049
Fees for Services Other$82,177$78,239-$160,416
Depreciation Depletion$75,946--$75,946
Interest$69,627--$69,627
Fees for Services Management-$25,987-$25,987
Office Expenses-$19,796-$19,796
Fees for Services Accounting-$13,090-$13,090
Insurance$9,216--$9,216
Advertising$1,341--$1,341
Other Expenses$120--$120
Total Functional Expenses$428,830$137,112$0$565,942

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$565,942
Total Expenses per Audited Statements$565,942
Total Expenses per Form 990$565,942
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$10,928
Other Liabilities$5,590
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

Day to day management is delegated to a management company.

Form 990, Part VI, Section B, line 11

No review has or will be conducted.

Form 990, Part VI, Section C, line 19

Available Upon Request

Filing and Contact Details

Filer

Filer Name
Lakes Senior Housing Inc
EIN
34-1343665
Phone
3307624011
Address
730 West Market Street, AKRON, OH 44303

Signing Officer

Name
Thurman Cole Iii
Title
President
Phone
3307624011
Signed
2017-01-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thurman Cole III
Formed
1979
Legal Domicile
Oh
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
Apple Growth Partners
Address
1540 WEST MARKET ST, AKRON, OH 44313
Preparer
Christopher J Benko CPA
Phone
3308677350
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Staffing expense through management co: Program service expenses 70,752. Management and general expenses 78,239. Fundraising expenses 0. Total expenses 148,991. professional fees: Program service expenses 11,425. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,425.

Form 990, Part XII, Line 2C:

Process has not changed from the prior year.

Financial Statement Notes

Part X, Line 2:

The Organization qualifies for tax exempt status under IRS code section 501(c)(3). Accordingly, no provision is necessary for federal, state and local income taxes. The Organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0-1028356
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-981720
IRS990/SavingsAndTempCashInvstGrp/BOYAmt013693
IRS990/SavingsAndTempCashInvstGrp/EOYAmt071231
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0437448
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0430766
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0430846
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0330853
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0427651
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02057564
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0238
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0172
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0248
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0264
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0436
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01358
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0820531
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0367
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt03540
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt02161
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt03581
IRS990ScheduleA/OtherIncome170Grp/TotalAmt09649
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99000
IRS990ScheduleA/PublicSupportPY170Pct00.99110
IRS990ScheduleA/PublicSupportTotal170Amt02057564
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0437448
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0430766
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0430846
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0330853
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0427651
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02057564
IRS990ScheduleA/TotalSupportAmt02078291
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearAmt02195
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus1YearAmt02392
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus2YearsAmt02662
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus3YearsAmt02471
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt09720
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0539922
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01627289
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02167211
IRS990ScheduleD/EquipmentGrp/BookValueAmt043889
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0176301
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0220190
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0565942
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt092092
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt092092
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0294499
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt131036
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt212405
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt327049
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Replacement Reserve
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1LOAN FEES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Residual Receipts
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Mortgage Escrow
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010928
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15590
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Security Deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Other Liabilities
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0612578
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization qualifies for tax exempt status under IRS code section 501(c)(3). Accordingly, no provision is necessary for federal, state and local income taxes. The Organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0675903
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0364989
IRS990ScheduleD/TotalExpensesPerForm990Amt0565942
IRS990ScheduleD/TotalLiabilityAmt016518
IRS990ScheduleD/TotalRevenuePerForm990Amt0612578
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0612578
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0565942
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Day to day management is delegated to a management company.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review has or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Available Upon Request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Staffing expense through management co: Program service expenses 70,752. Management and general expenses 78,239. Fundraising expenses 0. Total expenses 148,991. professional fees: Program service expenses 11,425. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,425.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XII, Line 2c:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01124763
IRS990/TotalAssetsEOYAmt01129990
IRS990/TotalAssetsGrp/BOYAmt01124763
IRS990/TotalAssetsGrp/EOYAmt01129990
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0137112
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0428830
IRS990/TotalFunctionalExpensesGrp/TotalAmt0565942
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02153119
IRS990/TotalLiabilitiesEOYAmt02111710
IRS990/TotalLiabilitiesGrp/BOYAmt02153119
IRS990/TotalLiabilitiesGrp/EOYAmt02111710
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1028356
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-981720
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0428830
IRS990/TotalProgramServiceRevenueAmt0612340
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt02433
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0610145
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0612578
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01124763
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01129990
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0730 West Market Street
IRS990/USAddress/CityNm0AKRON
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044303

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.81$1.63$0.82$0.73$0.65$0.09
2023Detailed filing. Detailed filing data is available for this year.$0.76$1.67$0.91$0.66$0.64$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.86$1.79$0.93$0.69$0.65$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.87$1.83$0.97$0.69$0.73$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.99$1.93$0.93$0.65$0.62$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.97$1.93$0.97$0.65$0.60$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.01$2.03$1.02$0.64$0.66$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.05$2.05$1.00$0.63$0.64$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.13$2.11$0.98$0.61$0.57$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.12$2.15$1.03$0.60$0.70$0.09
2014Detailed filing. Detailed filing data is available for this year.$1.24$2.17$0.94$0.60$0.65$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$2.23$0.88$0.75
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.55$2.27$0.72$0.62
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.57$2.25$0.68$0.57
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.61$2.30$0.69$0.53