Lake Senior Housing Corporation

Analysis

Lake Senior Housing Corporation is a registered charity in United States, based in Canton, OH. It received its IRS tax-exemption ruling in February 2004, 22 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 December 2023, Lake Senior Housing Corporation reported income of $296k and spending of $303k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $251k to $296k (+18%), an average of +4.2% a year. The sharpest change came in the year to December 2023, when income rose by 17%. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lake Senior Housing Corporation sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 61st percentile within OH. Charities of a similar size with the same main cause include Mercy Gardens ($296k), Norma Locklear-Pitts Senior Community Inc ($296k) and RVM Roseburg Corporation ($296k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 45% of the total. At year end it held assets of $2.1m against liabilities of $2.3m, net assets of -$203k.

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.