Lake Forest Senior Living Community Inc

Lake Forest Senior Living Community Inc consistently generates surpluses with no reported officer compensation.

EIN: 141805657 · Plattsburgh, NY · NTEE: L22 · Updated: 2026-03-28

$2.5MRevenue

$11.5MAssets

92/100Mission Score (Excellent)

L22

About Lake Forest Senior Living Community Inc

Lake Forest Senior Living Community Inc (EIN: 141805657) is a nonprofit organization based in Plattsburgh, NY, classified under NTEE code L22. The organization reported total revenue of $2.5M and total assets of $11.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lake Forest Senior Living Community Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Lake Forest Senior Living Community Inc demonstrates consistent financial stability, with revenues generally exceeding expenses over the past several years. For instance, in 2023, the organization reported revenues of $2,486,881 against expenses of $2,052,117, indicating a healthy operating surplus. The organization's assets have also shown steady growth, reaching $11,204,933 in 2023, which provides a solid financial foundation. The absence of reported officer compensation across all available filings suggests a strong commitment to directing resources towards its mission, and potentially a volunteer-led or very lean administrative structure for its leadership.

Spending efficiency appears high, given the consistent surpluses and the lack of executive compensation. This implies that a significant portion of their revenue is likely allocated directly to program services for senior living. The organization's financial health is further bolstered by its increasing asset base, which has grown from $6,723,026 in 2016 to over $11 million in 2023, indicating prudent financial management and investment in its long-term sustainability. The organization's consistent filing history and the detailed financial data available contribute to its transparency.

Overall, Lake Forest Senior Living Community Inc appears to be a financially sound and efficiently managed organization. Its consistent revenue growth, controlled expenses, and increasing assets, coupled with no reported officer compensation, paint a picture of an organization dedicated to its mission with strong financial stewardship. The organization's long filing history further enhances its transparency, allowing for a comprehensive review of its financial trajectory.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Lake Forest Senior Living Community Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 8%
programs: 90%
fundraising: 2%

According to IRS 990 filings, Lake Forest Senior Living Community Inc allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership may be volunteer-based or compensated through other means not categorized as officer compensation, which is highly favorable for resource allocation.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Strengths

The following positive indicators were identified for Lake Forest Senior Living Community Inc:

Consistent operating surpluses (e.g., $434,764 in 2023)
No reported officer compensation across all filings
Steady growth in assets, indicating financial stability and long-term planning (from $6.7M in 2016 to $11.2M in 2023)
Long and consistent IRS 990 filing history, demonstrating transparency
Revenue consistently exceeding expenses over multiple years

Frequently Asked Questions about Lake Forest Senior Living Community Inc

Is Lake Forest Senior Living Community Inc a good charity?

Based on the available financial data, Lake Forest Senior Living Community Inc appears to be a very good charity. It consistently generates operating surpluses, has growing assets, and reports no officer compensation, suggesting a high dedication to its mission and efficient use of funds.

How does Lake Forest Senior Living Community Inc manage its finances?

The organization manages its finances prudently, consistently generating more revenue than expenses (e.g., $2,486,881 revenue vs. $2,052,117 expenses in 2023) and growing its asset base from $6.7 million in 2016 to over $11 million in 2023. This indicates strong financial stewardship and sustainability.

What is the trend in Lake Forest Senior Living Community Inc's revenue and expenses?

Lake Forest Senior Living Community Inc has shown a positive trend in both revenue and expenses, with revenue generally outpacing expenses. Revenue has grown from $1,533,007 in 2016 to $2,486,881 in 2023, while expenses have also increased but at a slower rate, leading to consistent operating surpluses.

Filing History

IRS 990 filing history for Lake Forest Senior Living Community Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2010–2023), Lake Forest Senior Living Community Inc's revenue has grown by 90.6%, moving from $1.3M to $2.5M. Total assets increased by 57% over the same period, from $7.1M to $11.2M. Total functional expenses rose by 59.6%, from $1.3M to $2.1M. In its most recent filing year (2023), Lake Forest Senior Living Community Inc reported a surplus of $435K, with revenue exceeding expenses. The organization holds $8.1M in liabilities against $11.2M in assets (debt-to-asset ratio: 72.3%), resulting in net assets of $3.1M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$2.5M	$2.1M	$11.2M	$8.1M	—	—
2022	$2.3M	$2.0M	$11.5M	$8.8M	—	—
2021	$2.1M	$2.0M	$10.5M	$8.2M	—	View 990
2020	$2.0M	$2.1M	$10.8M	$8.5M	—	—
2019	$2.0M	$1.9M	$10.6M	$8.3M	—	View 990
2018	$1.6M	$1.6M	$9.2M	$6.9M	—	View 990
2016	$1.5M	$1.5M	$6.7M	$4.4M	—	View 990
2015	$1.5M	$1.5M	$6.9M	$4.7M	—	View 990
2014	$1.6M	$1.4M	$7.2M	$5.0M	—	View 990
2013	$1.5M	$1.4M	$7.6M	$5.6M	—	View 990
2012	$1.4M	$1.3M	$7.3M	$5.4M	—	View 990
2011	$1.4M	$1.3M	$7.5M	$5.8M	—	View 990
2010	$1.3M	$1.3M	$7.1M	$5.5M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $2.5M, expenses of $2.1M, and assets of $11.2M (revenue +8.4% year-over-year).
2022: Revenue of $2.3M, expenses of $2.0M, and assets of $11.5M (revenue +9.0% year-over-year).
2021: Revenue of $2.1M, expenses of $2.0M, and assets of $10.5M (revenue +6.4% year-over-year).
2020: Revenue of $2.0M, expenses of $2.1M, and assets of $10.8M (revenue +1.2% year-over-year).
2019: Revenue of $2.0M, expenses of $1.9M, and assets of $10.6M (revenue +23.7% year-over-year).
2018: Revenue of $1.6M, expenses of $1.6M, and assets of $9.2M (revenue +3.1% year-over-year).
2016: Revenue of $1.5M, expenses of $1.5M, and assets of $6.7M (revenue +1.1% year-over-year).
2015: Revenue of $1.5M, expenses of $1.5M, and assets of $6.9M (revenue -3.3% year-over-year).
2014: Revenue of $1.6M, expenses of $1.4M, and assets of $7.2M (revenue +3.6% year-over-year).
2013: Revenue of $1.5M, expenses of $1.4M, and assets of $7.6M (revenue +6.1% year-over-year).
2012: Revenue of $1.4M, expenses of $1.3M, and assets of $7.3M (revenue +5.0% year-over-year).
2011: Revenue of $1.4M, expenses of $1.3M, and assets of $7.5M (revenue +4.0% year-over-year).
2010: Revenue of $1.3M, expenses of $1.3M, and assets of $7.1M.

Data Sources and Methodology

This transparency report for Lake Forest Senior Living Community Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.