LAKESIDE GARDENS INC

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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

1967

Legal Domicile

Principal Officer

RICHARD DENURE

Phone

8583128170

Tax Period

2024-10-01 to 2025-09-30

LAKESIDE GARDENS INC, founded in 1967, is a community nonprofit in the Housing & Shelter sector that reported $1.3M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $1.2M left a modest 13% surplus.

Mission

To operate an apartment complex of 85 units to provide low-income housing for elderly tenants.

Program Service Accomplishments

Program 1

Expenses: $888,190 Revenue: $1,323,522

H.U.D. PROJECT #129-44803 PROVIDES 85 UNITS OF RENTAL HOUSING TO LOW-INCOME ELDERLY TENANTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,323,522

Investment Income $19,209

Other Revenue $0

TOTAL REVENUE $1,342,731

Expense Breakdown

Grants Paid $0

Salaries & Benefits $289,277

Fundraising Expenses $0

Program Expenses $888,190

Other Expenses $874,679

TOTAL EXPENSES $1,163,956

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,342,731	$1,146,640	+0.2%
Expenses	$1,163,956	$1,000,433	+0.2%
Net Income	$178,775	$146,207	+0.2%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN JENNINGS	Director	2.00	Director	$0	$0	$0
RICHARD DENURE	President	2.00	Officer Director	$0	$0	$0
CHARLIE OWENS	Director	2.00	Director	$0	$0	$0
GARY MACDONALD	Director	2.00	Director	$0	$0	$0
RUSTY COOMBS	Treasurer	2.00	Officer Director	$0	$0	$0
DALE COMBS	Vice President	2.00	Officer Director	$0	$0	$0
GARY ARNOLD	Secretary	2.00	Officer Director	$0	$0	$0
TIM AVAZIAN	Treasurer	2.00	Officer Director	$0	$0	$0
GRACE VANESELTINE	Director	2.00	Director	$0	$0	$0
DAVE OWENS	Director	2.00	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
2025	$1,342,731	$1,163,956	$1,680,758	$178,775
2024	No data	No data	No data	No data
2023	$1,130,514	$1,089,138	$1,419,218	$41,376
2022	$996,076	$1,034,544	$1,435,069	$-38,468
2021	$1,000,671	$935,320	$1,529,604	$65,351
2020	$975,374	$858,522	$1,493,505	$116,852
2019	$945,548	$860,427	$1,407,139	$85,121
2018	$921,603	$876,755	$1,354,319	$44,848