Lakes Senior Housing Inc

Analysis

Lakes Senior Housing Inc is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in November 1981, 45 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lakes Senior Housing Inc reported income of $660k and spending of $643k, spending 97% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $654k to $660k (+1.0%), an average of +0.3% a year. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lakes Senior Housing Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 75th percentile within OH. Charities of a similar size with the same main cause include Rockwall Housing Development Corporation ($660k), Telacu Housing-San Bernardino II Inc ($660k) and Elder Care One Inc ($660k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $756k against liabilities of $1.7m, net assets of -$910k.