CEDAR LAKE RESIDENCES INC

EIN: 611247246 501(c)(3) Housing & Shelter

LOUISVILLE, KY

Total Revenue
$7,995,952
Total Expenses
$8,029,232
Total Assets
$2,984,337
Net Assets
$1,031,352
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1993
Legal Domicile
KY
Principal Officer
RICK DAVIS
Phone
5024954946
Tax Period
2024-01-01 to 2024-12-31

CEDAR LAKE RESIDENCES INC, founded in 1993, is a community nonprofit in the Housing & Shelter sector that reported $8.0M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

CEDAR LAKE RESIDENCES, INC. PROVIDES A WIDE ARRAY OF COMMUNITY SUPPORT. (SEE SCHEDULE O) THE SUPPORT INCLUDES COMMUNITY-BASED RESIDENTIAL OPTIONS, HOUSING OPTIONS, DAY PROGRAMS AND SUPPORT FOR ADULTS WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES IN JEFFERSON COUNTY AND OLDHAM COUNTY, KENTUCKY AND THE SURROUNDING AREA. CEDAR LAKE RESIDENCES PROVIDES MANAGEMENT SERVICES FOR ALL CEDAR LAKE - HUD CORPORATIONS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $453,254
Program Service Revenue $7,373,019
Investment Income $16,838
Other Revenue $152,841
TOTAL REVENUE $7,995,952

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,601,531
Fundraising Expenses $0
Program Expenses $6,873,796
Other Expenses $2,427,701
TOTAL EXPENSES $8,029,232

Year-over-Year Comparison

2024 2023 Change
Revenue $7,995,952 $7,216,368 +0.1%
Expenses $8,029,232 $7,919,242 +0.0%
Net Income $-33,280 $-702,874 -1.0%
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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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
43

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
7
$557,285
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THERESA STIEBLING DIRECTOR 1.00
Director
$0 $0 $0
NICK GARBER VICE CHAIR 1.00
Officer Director
$0 $0 $0
PATRICIA ELLISON TREASURER 1.00
Officer Director
$0 $0 $0
WENDY GONZALES DIRECTOR 1.00
Director
$0 $0 $0
DEBORAH CAMPBELL DIRECTOR 1.00
Director
$0 $0 $0
BRUCE BEICKMAN CHAIR 1.00
Officer Director
$0 $0 $0
CAIT WHATLEY SECRETARY 1.00
Officer Director
$0 $0 $0
ADAM WALDNER DIRECTOR 1.00
Director
$0 $0 $0
JASON SQUIRES CHIEF OPERATING OFFICER (THRU 1.2024) 13.00
Officer
$0 $930 $66,423
RICK DAVIS PRESIDENT AND CEO 13.00
Officer
$0 $11,133 $298,171
MARGARET WAUGH VP OF FINANCE 13.00
Officer
$0 $19,952 $192,691
ILESE ANDERSON EXECUTIVE DIRECTOR 40.00
Highest
$104,709 $23,825 $128,534
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
2025 No data No data No data No data
2024 $7,995,952 $8,029,232 $2,984,337 $-33,280
2023 $7,216,368 $7,919,242 $2,944,769 $-702,874
2022 $7,496,378 $6,970,902 $2,935,723 $525,476
2021 $7,918,008 $6,883,748 $2,301,086 $1,034,260
2020 $5,741,822 $7,179,751 $2,589,544 $-1,437,929
2019 $6,990,273 $7,563,699 $2,651,899 $-573,426
2018 $5,827,847 $6,841,317 $3,342,740 $-1,013,470
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