LAUREL LAKE RETIREMENT COMMUNITY I… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1989

Legal Domicile

Principal Officer

DAVID A OSTER

Phone

3306500681

Tax Period

2023-01-01 to 2023-12-31

LAUREL LAKE RETIREMENT COMMUNITY INC, founded in 1989, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $29.9M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $26.2M left a modest 12% surplus.

Mission

LAUREL LAKE STRIVES TO BE THE COMMUNITY OF CHOICE FOR ADULTS WHO ASPIRE TO LIVE LIFE WITH MEANING, PURPOSE, AND LIFELONG OPPORTUNITIES FOR GROWTH SERVICES. LAUREL LAKE ACCOMPLISHES THIS PURPOSE BY DEMONSTRATING OUR CORE VALUES OF COMPASSION, RESPECT, EXCELLENCE, AND SERVICE.

Program Service Accomplishments

Program 1

Expenses: $16,598,218 Revenue: $18,274,459

LIFE PLAN COMMUNITY THAT PROVIDES AN ACTIVE RETIREMENT LIFESTYLE. THE COMMUNITY PROVIDES HOUSEKEEPING, ENVIRONMENTAL SERVICES, EDUCATIONAL AND ENTERTAINMENT ACTIVITIES. TOTAL OF 128,419 RESIDENT DAYS...

Program 2

Expenses: $5,276,558 Revenue: $5,682,873

PROVIDE SKILLED NURSING LONG-TERM CARE FOR RESIDENTS TO INCLUDE HOUSING, MEALS, ENVIRONMENTAL SERVICES, AND ACTIVITIES. TOTAL OF 22,519 RESIDENT DAYS AND AN AVERGAGE OF 62 RESIDENTS PER DAY.

Program 3

Expenses: $974,039 Revenue: $1,890,845

PROVIDE ASSISTED LIVING LONG-TERM CARE, INCLUDING MEMORY CARE SERVICES, FOR RESIDENTS TO INCLUDE: HOUSING, MEALS, ENVIRONMENTAL SERVICES, AND ACTIVITIES. TOTAL OF 12,287 RESIDENT DAYS AND AN AVERAGE...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,725,496

Program Service Revenue $25,015,095

Investment Income $2,342,598

Other Revenue $833,082

TOTAL REVENUE $29,916,271

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,100,224

Fundraising Expenses $132,090

Program Expenses $22,848,815

Other Expenses $16,085,571

TOTAL EXPENSES $26,185,795

Year-over-Year Comparison

	2023	2022	Change
Revenue	$29,916,271	$25,377,674	+0.2%
Expenses	$26,185,795	$25,697,038	+0.0%
Net Income	$3,730,476	$-319,364	-12.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

274

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$539,182

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM YOUNG	CHAIRMAN	1.00	Officer Director	$0	$0	$0
PAT BLAKE	TREASURER	2.00	Officer Director	$0	$0	$0
STEPHANIE FALLCREEK	SECRETARY	1.00	Officer Director	$0	$0	$0
CLINTON SIMMONS	TRUSTEE	1.00	Director	$0	$0	$0
DALE LEPPO	RESIDENT TRUSTEE	2.00	Director	$0	$0	$0
PHYLLIS DILLMAN	RESIDENT TRUSTEE	2.00	Director	$0	$0	$0
DAVID WILLIAMS	RESIDENT TRUSTEE	1.00	Director	$0	$0	$0
HARRY ALBRECHT	RESIDENT TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL BIRD	TRUSTEE	1.00	Director	$0	$0	$0
JOHN MULLIGAN	TRUSTEE	2.00	Director	$0	$0	$0
DAVID OSTER	CEO	40.00	Officer	$359,837	$27,202	$387,039
LORETTA STEVENS	CFO (UNTIL 5/23)	40.00	Officer	$75,993	$72	$76,065
MADELINE FREEMAN	CFO (BEG. 6/23)	40.00	Officer	$76,050	$28	$76,078
JEAN CLOUSE	MDS NURSE	40.00	Highest	$109,348	$12,065	$121,413
LISA MITCHELL	DIRECTOR OF HR AND ASSISTED LIVING	40.00	Highest	$106,836	$14,803	$121,639
ANDREW LOVANO	DIRECTOR OF CROWN CENTER	40.00	Highest	$102,093	$2,715	$104,808
VALERIE DUBOSE	STNA/NURSING ASSISTANT - SNF	40.00	Highest	$102,088	$54	$102,142
SANDRA BOCK	REGISTERED NURSE	40.00	Highest	$100,547	$33,996	$134,543

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$29,916,271	$26,185,795	$95,941,402	$3,730,476
2022	$25,377,674	$25,697,038	$91,214,495	$-319,364
2021	$26,906,563	$25,091,330	$95,012,524	$1,815,233
2020	$25,976,020	$24,364,467	$95,397,769	$1,611,553
2019	$24,879,963	$23,867,867	$89,610,260	$1,012,096
2018	$26,345,147	$23,497,506	$85,678,018	$2,847,641

LAUREL LAKE RETIREMENT COMMUNITY INC