Civic Intelligence

Laurel Lake Retirement Community Inc

EIN 34-1481142 • 501(c)3 • Hudson, OH

Profile

Laurel lake strives to be the community of choice for adults who aspire to live life with meaning, purpose, and lifelong opportunities for growth services. Laurel lake accomplishes this purpose by demonstrating our core values of compassion, respect, excellence, and service.

200 Laurel Lake DriveHudson, OH 44236

www.laurellake.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

83rd percentile

0.71x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

87th percentile

2.50x

Higher debt load relative to revenue than 87% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

58th percentile

7.2%

Higher net margin than 58% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

42nd percentile

4.2%

Faster asset growth than 42% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2024

Revenue Growth

46th percentile

5.7%

Faster revenue growth than 46% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2024

Assets

Up

$99,094,295

Up $3,152,893 (+3.3%) from 2023

Liabilities

Down

$70,836,099

Down $911,263 (-1.3%) from 2023

Net Assets

Up

$28,258,196

Up $4,064,156 (+17%) from 2023

Revenue

Down

$28,334,680

Down $1,581,591 (-5.3%) from 2023

Expenses

Up

$26,290,826

Up $105,031 (+0.4%) from 2023

Net Income

Down

$2,043,854

Down $1,686,622 (-45%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$100M$50M$0Assets 2010: $64,723,426Liabilities 2010: $64,708,641Net Assets 2010: $14,7852010Assets 2011: $63,858,091Liabilities 2011: $62,831,231Net Assets 2011: $1,026,8602011Assets 2012: $68,177,584Liabilities 2012: $61,863,601Net Assets 2012: $6,313,9832012Assets 2013: $84,262,200Liabilities 2013: $84,262,200Net Assets 2013: $02013Assets 2014: $87,995,765Liabilities 2014: $86,227,456Net Assets 2014: $1,768,3092014Assets 2015: $89,041,132Liabilities 2015: $84,115,614Net Assets 2015: $4,925,5182015Assets 2016: $89,391,645Liabilities 2016: $81,547,095Net Assets 2016: $7,844,5502016Assets 2018: $85,678,018Liabilities 2018: $71,096,651Net Assets 2018: $14,581,3672018Assets 2019: $89,610,260Liabilities 2019: $73,494,840Net Assets 2019: $16,115,4202019Assets 2020: $95,397,769Liabilities 2020: $77,267,755Net Assets 2020: $18,130,0142020Assets 2021: $95,012,524Liabilities 2021: $73,284,197Net Assets 2021: $21,728,3272021Assets 2022: $91,214,495Liabilities 2022: $71,229,667Net Assets 2022: $19,984,8282022Assets 2023: $95,941,402Liabilities 2023: $71,747,362Net Assets 2023: $24,194,0402023Assets 2024: $99,094,295Liabilities 2024: $70,836,099Net Assets 2024: $28,258,1962024

Highlighted filing

2024

Assets$99,094,295
Liabilities$70,836,099
Net Assets$28,258,196

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MExpenses 2010: $19,460,7882010Expenses 2011: $20,572,4732011Expenses 2012: $20,843,5082012Revenue 2013: $25,609,783Expenses 2013: $21,021,226Net Income 2013: $4,588,5572013Revenue 2014: $24,140,089Expenses 2014: $22,656,621Net Income 2014: $1,483,4682014Revenue 2015: $24,568,343Expenses 2015: $21,411,134Net Income 2015: $3,157,2092015Revenue 2016: $24,655,709Expenses 2016: $21,870,022Net Income 2016: $2,785,6872016Revenue 2018: $26,345,147Expenses 2018: $23,497,506Net Income 2018: $2,847,6412018Revenue 2019: $24,879,963Expenses 2019: $23,867,867Net Income 2019: $1,012,0962019Revenue 2020: $25,976,020Expenses 2020: $24,364,467Net Income 2020: $1,611,5532020Revenue 2021: $26,906,563Expenses 2021: $25,091,330Net Income 2021: $1,815,2332021Revenue 2022: $25,377,674Expenses 2022: $25,697,038Net Income 2022: -$319,3642022Revenue 2023: $29,916,271Expenses 2023: $26,185,795Net Income 2023: $3,730,4762023Revenue 2024: $28,334,680Expenses 2024: $26,290,826Net Income 2024: $2,043,8542024

Highlighted filing

2024

Revenue$28,334,680
Expenses$26,290,826
Net Income$2,043,854

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$99.1$70.8$28.3$28.3$26.3$2.04
2023Detailed filing. Detailed filing data is available for this year.$95.9$71.7$24.2$29.9$26.2$3.73
2022Detailed filing. Detailed filing data is available for this year.$91.2$71.2$20.0$25.4$25.7$0.32
2021Detailed filing. Detailed filing data is available for this year.$95.0$73.3$21.7$26.9$25.1$1.82
2020Detailed filing. Detailed filing data is available for this year.$95.4$77.3$18.1$26.0$24.4$1.61
2019Detailed filing. Detailed filing data is available for this year.$89.6$73.5$16.1$24.9$23.9$1.01
2018Detailed filing. Detailed filing data is available for this year.$85.7$71.1$14.6$26.3$23.5$2.85
2016Detailed filing. Detailed filing data is available for this year.$89.4$81.5$7.84$24.7$21.9$2.79
2015Detailed filing. Detailed filing data is available for this year.$89.0$84.1$4.93$24.6$21.4$3.16
2014Detailed filing. Detailed filing data is available for this year.$88.0$86.2$1.77$24.1$22.7$1.48
2013Detailed filing. Detailed filing data is available for this year.$84.3$84.3$0.00$25.6$21.0$4.59
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.2$61.9$6.31$20.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.9$62.8$1.03$20.6
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$64.7$64.7$0.01$19.5
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$28,334,680
Mission and Program Overview

Mission

Laurel lake strives to be the community of choice for adults who aspire to lead lives filled with meaning, purpose, and lifelong opportunites for growth services. Laurel lake accomplishes this purpose by demonstrating our core values of compassion, respect, excellence, and service.

A retirement community of choice for adults who aspire to lead lives filled with meaning, purpose, and lifelong opportunities for growth and service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$63,489,732$63,680,896▲ $191,164
Investments in Publicly Traded Securities$25,339,472$27,941,533▲ $2,602,061
Savings and Temporary Cash Investments$3,413,281$4,021,584▲ $608,303
Intangible Assets$1,500,000$1,500,000→ $0
Accounts Receivable$678,257$610,398▼ $67,859
Investments Other Securities$539,308$539,308→ $0
Prepaid Expenses and Deferred Charges$159,983$171,448▲ $11,465
Inventories for Sale or Use$18,708$17,808▼ $900
Total Assets$95,941,402$99,094,295▲ $3,152,893
Other Assets Total$802,661$611,320▼ $191,341
Liabilities
Deferred Revenue$37,002,246$38,170,901▲ $1,168,655
Mortgage Notes Payable Secured by Investment Property$21,165,417$18,129,166▼ $3,036,251
Tax Exempt Bond Liabilities$6,533,875$6,217,819▼ $316,056
Other Liabilities$4,945,356$5,752,669▲ $807,313
Accounts Payable and Accrued Expenses$2,100,468$2,565,544▲ $465,076
Total Liabilities$71,747,362$70,836,099▼ $911,263
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$24,194,040$28,258,196▲ $4,064,156
Total Net Assets Fund Balance$24,194,040$28,258,196▲ $4,064,156
Total Liabilities and Net Assets / Fund Balance$95,941,402$99,094,295▲ $3,152,893

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$55,004,025$30,119,739$85,123,764
Equipment$2,646,871$7,677,959$10,324,830
Other Land Buildings$2,267,172$1,885,875$4,153,047
Land$3,762,828-$3,762,828
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David OsterCEOFT$348,123$45,578$393,701
Madeline FreemanCFOFT$158,859$7,764$166,623
Andrew LovanoDirector-crown CenterFT$112,275$29,497$141,772
Lisa MitchellDirector-hr&assisted LivingFT$120,916$14,823$135,739
Denise DiscipioDirector-clinical ServicesFT$114,787$17,961$132,748
Donna AndersonDirector-marketingFT$103,074$13,053$116,127

Board Members and Trustees

NameTitle
William YoungChairman
Dale LeppoResident Trustee
William WooldredgeResident Trustee
Gregory NaplesTrustee
Harry AlbrechtTrustee
Jeffrey DunlapTrustee
Joseph SeldenTrustee
Liz MurphyTrustee
Michael BirdTrustee
Stephanie FallcreekSecretary
Pat BlakeTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Ted Knight & Sons ConstructionConstruction620 TEREX ROAD, Hudson, OH 44236$899,992
American Medical PersonnelStaffing Services-nursing1440 E TURKEYFOOT LAKE RD, Akron, OH 44312$622,651
Intelycare INCStaffing Services-nursingPO BOX 787317, Philadelphia, PA 19178$540,985
Shiftmed LLCStaffing Services-nursingPO BOX 124004, Dallas, TX 75312$280,937
Tim's Pressure Cleaning And PaintingPainting Services9147 ROOT DR, Streetsboro, OH 44241$202,668
Revenue and Support

Revenue Composition

Contributions and Grants
$1,147,174
Program Service Revenue
$26,161,143
Investment Income
$876,396
Other Revenue
$149,967
All Other Contributions
$897,132
Change in Net Assets
$2,043,854

Audited Revenue Reconciliation

Revenue per Audited Statements
$28,269,224
Revenue Not Reported on Financial Statements
$65,456
Revenue Not Reported on Form 990
$2,020,302
Total Revenue per Audited Statements
$30,289,526
Total Revenue per Form 990
$28,334,680
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$15,249,715
Salaries, Compensation, and Employee Benefits$11,041,111
Total Fundraising Expense$230,304
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,980,857$957,545$106,062$8,044,464
Depreciation Depletion$3,489,559$481,319$40,110$4,010,988
Occupancy$3,173,678$448,014$26,214$3,647,906
Fees for Services Other$2,734,967-$655$2,735,622
Other Employee Benefits$1,485,782$204,936$17,078$1,707,796
Interest$1,003,404$138,400$11,533$1,153,337
Payroll Taxes$531,839$73,357$6,113$611,309
Current Officers, Directors, Trustees, and Key Employees$486,275$66,711$7,338$560,324
Insurance$449,229$61,963$5,164$516,356
All Other Expenses$447,360$17,429$5,090$469,879
Information Technology$270,449$37,303$3,109$310,861
Pension Plan Contributions$101,980$14,066$1,172$117,218
Fees for Service Investment Mgmnt Fees-$65,456-$65,456
Advertising$55,942$7,716$643$64,301
Other Expenses$267,546$48,661-$48,661
Fees for Services Accounting-$48,062-$48,062
Office Expenses$40,985$301$23$41,309
Fees for Services Legal-$35,807-$35,807
Total Functional Expenses$23,353,476$2,707,046$230,304$26,290,826

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$26,290,826
Expenses per Audited Statements$26,225,370
Total Expenses per Audited Statements$26,225,370
Expenses Not Reported on Financial Statements$65,456
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
Refundable Entrance Fees$2,355,376
Security Deposits$2,238,470
Accrued Real Estate Taxes$1,158,823

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACounty of Summit Ohio2013-12-30$14,280,000To finance the acquisition, construction, improvement and equipping of llrc

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$14,280,000-$7,765,000$285,600

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Review of form 990 - form 990 is prepared by laurel lake's independent accounting firm and reviewed by the chief financial officer. Form 990 is approved by the board's finance committee and accepted by the board of directors. The return is provided to the governing body prior to filing with the irs.

Form 990, Part VI, Section B, Line 12C

Monitoring and enforcement of conflict policy - all board members are covered by the laurel lake retirement community conflict of interest policy which requires disclosure on an annual basis. All potential conflicts of interest are reviewed by laurel lake retirement community's corporate compliance officer. At the beginning of each board meeting, all board members are required to disclose any conflicts of interest. Board members determined to have a conflict of interest are prohibited from participating in deliberations and decision-making for the transaction in which the conflict exists.

Form 990, Part VI, Section B, Line 15

Compensation review and approval - for the organization's ceo, laurel lake utilizes a written employment contract, a compensation survey or study, compensation data from similar organizations, and approval by the executive committee of the board of directors. The members of the executive committee are independent of the ceo.

Form 990, Part VI, Section C, Line 19

Availability of documents - the organization makes its governing documents, conflict of interest policy, and audited financial statements available to the general public upon request. Additionally, audited financial statements are available on the organization's website.

Filing and Contact Details

Filer

Filer Name
Laurel Lake Retirement Community Inc
EIN
34-1481142
Phone
3306500681
Address
200 LAUREL LAKE DRIVE, HUDSON, OH 44236

Signing Officer

Name
Anthony Berardi
Title
CEO
Phone
3306500681
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anthony Berardi
Formed
1989
Legal Domicile
Oh
Voting Board Members
11
Independent Board Members
11
Employees
310
Volunteers
20

Preparer

Firm
Maloney Novotny LLC
Address
1111 SUPERIOR AVE SUITE 700, CLEVELAND, OH 44114-2540
Preparer
Christopher B Anderson
Phone
2163630100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contract and purchased services: program service expenses 2,734,967. Management and general expenses 0. Fundraising expenses 655. Total expenses 2,735,622.

Financial Statement Notes

PART II, LINE 9:

Financial statement reporting of easements - laurel lake does not report any amounts in the financial statements since the easement is only a commitment not to build on wetland areas.

Raw XML AppendixShowing 400 of 772 raw XML fields

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/MissionDesc0LAUREL LAKE STRIVES TO BE THE COMMUNITY OF CHOICE FOR ADULTS WHO ASPIRE TO LIVE LIFE WITH MEANING, PURPOSE, AND LIFELONG OPPORTUNITIES FOR GROWTH SERVICES. LAUREL LAKE ACCOMPLISHES THIS PURPOSE BY DEMONSTRATING OUR CORE VALUES OF COMPASSION, RESPECT, EXCELLENCE, AND SERVICE.
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