LAKE SENIOR HOUSING CORP

EIN: 810612142 501(c)(3) Housing & Shelter

CANTON, OH

Total Revenue
$290,102
Total Expenses
$320,108
Total Assets
$2,098,163
Net Assets
$-233,011
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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
2006
Legal Domicile
OH
Principal Officer
MATTHEW BAILEY
Phone
6142733508
Tax Period
2024-01-01 to 2024-12-31

LAKE SENIOR HOUSING CORP, founded in 2006, is a small nonprofit in the Housing & Shelter sector that reported $290K in total revenue in fiscal year 2024. Expenses of $320K exceeded revenue, resulting in a 10% operating deficit.

Mission

TO PROVIDE LOW-INCOME HOUSING TO THE ELDERLY.

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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 $148,569
Program Service Revenue $135,178
Investment Income $6,355
Other Revenue $0
TOTAL REVENUE $290,102

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $293,826
Other Expenses $320,108
TOTAL EXPENSES $320,108

Year-over-Year Comparison

2024 2023 Change
Revenue $290,102 $295,874 0.0%
Expenses $320,108 $302,624 +0.1%
Net Income $-30,006 $-6,750 +3.4%
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

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Governance

Voting Members
1
Independent Members
1
Employees
N/A
Volunteers
1

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
1
$0
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATTHEW BAILEY PRESIDENT 1.00
Officer Director
$0 $0 $0
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 $290,102 $320,108 $2,098,163 $-30,006
2023 $295,874 $302,624 $2,120,147 $-6,750
2022 $252,170 $326,210 $2,165,174 $-74,040
2021 $255,420 $302,136 $2,234,670 $-46,716
2020 $256,131 $351,417 $2,279,925 $-95,286
2019 $251,085 $290,117 $2,401,427 $-39,032
2018 $253,820 $302,577 $2,441,416 $-48,757
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