Lake Forest Senior Living Community Inc

Analysis

Lake Forest Senior Living Community Inc is a registered charity in United States, based in Plattsburgh, NY. It received its IRS tax-exemption ruling in November 1998, 28 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lake Forest Senior Living Community Inc reported income of $2.5m and spending of $2.1m, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.0m to $2.5m (+27%), an average of +6.2% a year. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lake Forest Senior Living Community Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Haywood Street Community Development ($2.5m), New Walton Avenue HDFC ($2.5m) and Townspeople ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $113k (5.5% of expenses). Other salaries and wages came to $477k. At year end it held assets of $11.2m against liabilities of $8.1m, net assets of $3.1m. It reported 23 employees.