Overview
What is Laurel Lake Retirement Community Foundation Inc?
Laurel Lake Retirement Community Foundation Inc, established in 1994, serves as the charitable arm of Laurel Lake Retirement Community. This nonprofit organization's mission is to support and enrich the lives of the community's residents, catering to their social, intellectual, physical, and emotional needs. Over the past two decades, the foundation has provided resources to help alleviate financial hardships faced by some residents, ensuring their continued care despite unanticipated circumstances. The foundation generates and manages resources to fund a variety of projects and programs, aiming to maintain an active, stimulating, and rewarding lifestyle for the residents.
Official website here: www.laurellake.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 60%)
Laurel Lake Retirement Community Foundation Inc has received a Two-Star rating from Charity Navigator, indicating a need for improvement in its accountability and financial practices. While the organization scored well in areas such as having a fully independent board, adherence to a conflict of interest policy, and the presence of a whistleblower policy, it struggles with its financial ratios. The program expense ratio is particularly low at 31.23%, suggesting that a significant portion of the budget may not be allocated toward its core mission.
The organization demonstrates good governance, with 100% of board members being independent and a strong emphasis on transparency through available financial documentation. Notably, there has been no material diversion of assets, which reflects positively on its financial oversight. Additionally, the existence of a robust audit and oversight committee is a strength that supports trust in the organization's management.
However, the low liabilities to assets ratio of 9.48% and the low program expense ratio both raise concerns about the foundation's capacity to effectively utilize its resources for programmatic purposes. These financial indicators will need to be addressed for the organization to improve its rating and better fulfill its mission in the community.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Laurel Lake Retirement Community Foundation Inc?
86% of the 13 reviewers on Facebook recommend Laurel Lake Retirement Community Foundation Inc. Here’s a summary of their insights:
Recent feedback highlights a particularly positive experience at the Crown Center for skilled nursing, where one reviewer expressed great satisfaction with the care provided. They noted the nurses' kindness and the overall comfort they felt during their stay, indicating that the staff's approach significantly contributes to a supportive atmosphere.
Overall, the sentiments conveyed by those who have interacted with Laurel Lake Retirement Community reflect a commendable level of care and attention from the team, supporting the belief that residents are well cared for in this community.
This AI summary has been generated from reviews found on Facebook.
Is Laurel Lake Retirement Community Foundation Inc legitimate?
Laurel Lake Retirement Community Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Laurel Lake Retirement Community Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.laurellake.org
What is the mission statement of Laurel Lake Retirement Community Foundation Inc?
The Laurel Lake Retirement Community Foundation Inc's mission is to encourage, administer, and coordinate charitable giving to fund enrichment projects, programs, and services for the benefit of the residents of Laurel Lake Retirement Community. Established in 1994, this charitable organization aims to generate and manage resources to enhance the quality of life for its residents, catering to their social, intellectual, physical, and emotional needs at all stages of life. The foundation is dedicated to inspiring the community of families, friends, and staff, and funds a variety of projects and programs that help care for residents during life's transitions, contributing to the active, stimulating, and rewarding lifestyle enjoyed by Laurel Lake residents.
Official website here: www.laurellake.org
Who is the CEO of Laurel Lake Retirement Community Foundation Inc?
David A Oster is the President of Laurel Lake Retirement Community Foundation Inc.
Official website here: www.laurellake.org
What is the revenue of Laurel Lake Retirement Community Foundation Inc?
Laurel Lake Retirement Community Foundation Inc's revenue in 2022 was $814,844.
Official website here: www.laurellake.org
Who are the executives of Laurel Lake Retirement Community Foundation Inc and what are their salaries?
There 7 volunteers at Laurel Lake Retirement Community Foundation Inc.
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $368,034
- Other: $34,964
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
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- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.laurellake.org
Where can I find the form 990 for Laurel Lake Retirement Community Foundation Inc?
Laurel Lake Retirement Community Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.laurellake.org
Learn more at the official website: www.laurellake.org
Mission Statement of Laurel Lake Retirement Community Foundation Inc
Laurel Lake Retirement Community Foundation Inc, established in 1994, serves as the charitable arm of Laurel Lake Retirement Community. Its primary mission is to generate and manage resources to enrich the quality of life for Laurel Lake residents, catering to their social, intellectual, physical, and emotional needs at various stages of life. The foundation is dedicated to inspiring the community of families, friends, and staff, and it funds a wide array of projects and programs that help care for residents during life's transitions and contribute to the active, stimulating, and rewarding lifestyle enjoyed by Laurel Lake residents. The foundation's purpose is to vigorously support and enhance the living experiences of the residents, ensuring their needs are met throughout their journey.
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Impact
October, 2024
Laurel Lake Retirement Community Foundation Inc significantly enriches the lives of its residents by fostering a culture of support and well-being. Established in 1994, the foundation plays a crucial role in administering charitable giving aimed at enhancing campus-wide projects, programs, and services. This commitment ensures that residents, particularly those with Life Care contracts, receive the necessary resources to maintain their quality of life, even in the face of unexpected financial challenges.
The impact of the foundation is evident in the peace of mind it provides to residents who may otherwise face anxiety about their ability to pay for essential services. By supporting between two and six residents annually with subsidies in times of need, the foundation helps to alleviate the stress associated with financial instability, allowing individuals to focus on their well-being and community engagement.
In addition to financial assistance, the foundation funds a diverse range of initiatives that cater to the social, intellectual, physical, and emotional needs of the residents. These programs create an active and stimulating environment, fostering connections and enhancing the overall lifestyle of community members. The foundation's dedication not only addresses immediate needs but also promotes long-term enrichment and fulfillment, inspiring a vibrant community of families, friends, and staff who are all invested in the well-being of Laurel Lake residents.
This information is meant to be a general summary of Laurel Lake Retirement Community Foundation 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 2022.
- Investment Income: $4,416
- Gross Receipts: $2,048,516
Assets and Liabilities:
- Total Assets: $5,076,444
- Total Liabilities: $481,629
- Net Assets: $4,594,815
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Organization Details
Founding Year
1995
Phone
(330) 650-0681Principal Officer
David A Oster
Main Address
200 Laurel Lake Drive, Hudson, OH, 44236
Website
www.laurellake.orgNTEE Category
Code: T30 - Philanthropy
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