Lakefront Senior Residences Inc

Analysis

Lakefront Senior Residences Inc is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in July 1996, 30 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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 May 2023, Lakefront Senior Residences Inc reported income of $276k and spending of $352k, spending 127% of what it took in. Across the 4 years on record, from May 2020 to May 2023, income grew from $229k to $276k (+21%), an average of +6.5% a year. Over the whole period it spent 130% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lakefront Senior Residences Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 60th percentile within KS. Charities of a similar size with the same main cause include San Francisco Succulent and Cactus Society ($276k), Hayfork Senior Nutrition Center Coral St ($276k) and Society of Experimental Test Pilots Scholarship Foundation ($276k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 42% and program service revenue 52% of the total. At year end it held assets of $540k against liabilities of $57k, net assets of $483k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.