Lakewood Residential Care Facility

Charity Navigator Rating: 0 stars (48%)

Lakewood Residential Care Facility has received a low rating of 48%, resulting in a Zero-Star out of Four Stars designation. This rating highlights significant concerns regarding the organization's accountability and financial transparency. While the nonprofit has a fully independent board, it lacks essential financial documentation and policies, including conflict of interest and whistleblower policies, which are critical for maintaining trust and transparency.

Despite achieving a satisfactory ratio of liabilities to assets and having documented board meeting minutes, the absence of audited financial statements and other crucial documents hampers its financial assessment. The program expense ratio of 55.07% indicates that over half of its expenses are directed toward its programs, but this is overshadowed by the lack of public financial disclosures that are typically expected from nonprofits.

Overall, while Lakewood Residential Care Facility maintains a fully independent board, the substantial gaps in financial reporting and governance policies present significant limitations that potential donors and supporters should consider when evaluating the organization.

This AI summary has been generated from information found on Charity Navigator.

Lakewood Residential Care Facility is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lakewood Residential Care Facility 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: $190,716

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