Overview
What is Lake Forest Senior Living Community Inc?
Lake Forest Senior Living Community Inc is a non-profit retirement community located in Plattsburgh, New York, nestled amidst the picturesque Adirondack Mountains. Spanning over 24 acres, it offers a mix of secure apartment-style and town-style duplexes, providing various living options for its senior residents aged 68 and above. The community is renowned for its high-quality independent living, coupled with exceptional services that cater to the individual needs of its residents. The focus is on promoting healthy aging and encouraging meaningful activities and relationships within a respectful and dignified environment. Residents can enjoy a variety of amenities such as dining, transportation, social activities, and maintenance-free living, with opportunities to engage in off-site activities as well. Lake Forest Senior Living Community serves around 117 individuals, attracting residents from various locations across the United States and Canada.
Official website here: www.onlakeforest.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Lake Forest Senior Living Community Inc has earned a three-star rating from Charity Navigator, indicating a generally positive assessment of its accountability and financial practices. The organization scored well in areas such as having a majority of independent board members and maintaining robust financial oversight, which suggests strong governance practices.
One of the notable strengths of Lake Forest Senior Living Community is its excellent program expense ratio of 85.47%, indicating that a significant portion of its expenses is directed towards its programs rather than administrative costs. The organization has also established comprehensive policies related to conflict of interest, whistleblower protections, and document retention, which reflect a commitment to transparency and ethical governance.
However, the organization did face a challenge with its liabilities to assets ratio, which was reported at 72.31%. This high ratio may raise concerns about financial stability and the ability to meet long-term obligations. Overall, while Lake Forest Senior Living Community demonstrates strong accountability and effective governance, potential donors should consider the implications of its financial ratios.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Forest Senior Living Community Inc legitimate?
Lake Forest Senior Living Community Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Forest Senior Living Community Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $113,222
Professional Fundraising Fees: $0
Other Salaries and Wages: $477,452
For more financial information, click here
Official website here: www.onlakeforest.org
What is the mission statement of Lake Forest Senior Living Community Inc?
Lake Forest Senior Living Community Inc is a non-profit retirement community, exclusively committed to catering to the needs of seniors aged 68 years and above. The emphasis is on providing high-quality independent living, supplemented by exceptional services tailored to the unique requirements of its residents. Healthy aging and opportunities for meaningful engagements and relationships are prioritized. The community is dedicated to fostering a trusting, respectful, and dignified environment, embedding these qualities within its established community.
Official website here: www.onlakeforest.org
What is the revenue of Lake Forest Senior Living Community Inc?
Lake Forest Senior Living Community Inc's revenue in 2023 was $2,486,881.
Official website here: www.onlakeforest.org
Who are the executives of Lake Forest Senior Living Community Inc and what are their salaries?
The average compensation at Lake Forest Senior Living Community Inc during 2023 was $25,681. There are 23 employees at Lake Forest Senior Living Community Inc.
Here are 15 key members and their salaries:
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Official website here: www.onlakeforest.org
Where can I find the form 990 for Lake Forest Senior Living Community Inc?
Lake Forest Senior Living Community Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.onlakeforest.org
Learn more at the official website: www.onlakeforest.org
Mission Statement of Lake Forest Senior Living Community Inc
Lake Forest Senior Living Community Inc is a non-profit organization dedicated to serving seniors aged 68 years and above. The community emphasizes high-quality independent living, offering exceptional services tailored to the unique needs of its residents. Their mission is centered around promoting healthy aging and providing opportunities for meaningful activities and relationships. Lake Forest strives to create a trusting, respectful, and dignified environment, ensuring that these qualities are deeply ingrained in the community's atmosphere. This commitment to seniors' well-being and quality of life is what sets Lake Forest Senior Living Community Inc apart.
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Impact
October, 2024
Lake Forest Senior Living Community Inc significantly enriches the lives of seniors aged 68 and older by providing a vibrant, engaging, and supportive environment tailored to their needs. Located in the picturesque Adirondack Mountains, it offers a range of living options, including a 44-unit apartment-style secured building and 28 town-style duplexes, all designed to foster independence and community interaction.
Residents benefit from a plethora of high-quality services aimed at promoting healthy aging and meaningful connections. With an emphasis on autonomy, seniors can choose their activities, whether it's indulging in freshly prepared fine dining, participating in cultural events like musical performances and historical presentations, or enjoying social gatherings and recreational activities. The community encourages active lifestyles through opportunities for hiking, boating, skiing, and more, all set against the beautiful backdrop of Lake Champlain.
In addition to individual living spaces, the communal aspect of Lake Forest fosters relationships among residents, creating a trusting and dignified environment. Regular maintenance and modern amenities ensure a comfortable living experience, while scheduled services like cleaning and transportation enhance convenience.
By catering to the diverse needs and interests of its residents and promoting a holistic approach to aging, Lake Forest Senior Living Community Inc plays a vital role in enhancing quality of life for seniors, making it a desirable choice for individuals seeking community and care in their later years.
This information is meant to be a general summary of Lake Forest Senior Living Community Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $134,338
- Program Service Revenue: $2,321,577
- Gross Receipts: $2,486,881
Assets and Liabilities:
- Total Assets: $11,459,321
- Total Liabilities: $8,821,083
- Net Assets: $2,638,238
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$2,321,577
Organization Details
Founding Year
1998
Principal Officer
Brian Minchoff
Website
www.onlakeforest.orgNTEE Category
Code: L22 - Housing
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