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Nonprofiteer
← LAKESHORE ESTATE INC

Form 990 for tax year 2022

Filed by LAKESHORE ESTATE INC.

Totals

Total revenue
$18,358,530
Total expenses
$20,825,482
Contributions and grants received
$468,558
Grants paid
$0
Program service revenue
$17,794,351
Investment income
$55,349
Other revenue
$40,272
Total assets, end of year
$25,561,597
Total liabilities, end of year
$24,269,898
Net assets or fund balances, end of year
$1,291,699
Program services expenses (Part IX)
$16,753,824
Management and general expenses
$4,071,658
Fundraising expenses
$0
Program service expenses (Part III)
$16,753,824

Program services were 80.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $468,283

  • 1f · All other contributions, gifts and grants

    $275

  • 2a · Program service revenue: SERVICE REVENUE

    total $15,835,870 · related or exempt $15,835,870

  • 2b · Program service revenue: HOME OCCUPANCY REVENUE

    total $1,522,063 · related or exempt $1,522,063

  • 2c · Program service revenue: HOME MAITENANCE FEES

    total $436,418 · related or exempt $436,418

  • 3 · Investment income

    total $18,676 · related or exempt $18,676

  • 7a · Gross sales of assets other than inventory

    securities $890,577

  • 7b · Less cost or other basis and sales expenses

    securities $853,904

  • 7c · Gain or loss

    securities $36,673

  • 7d · Net gain or loss

    total $36,673 · excluded $36,673

  • 11a · Other revenue: OTHER INCOME

    total $40,272 · related or exempt $40,272

  • 11e · Other revenue, total

    $40,272

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $10,441,519 · program services $8,507,783 · management and general $1,933,736

  • 11b · Fees: legal

    total $2,472 · management and general $2,472

  • 11c · Fees: accounting

    total $88,900 · management and general $88,900

  • 11f · Fees: investment management

    total $7,136 · management and general $7,136

  • 11g · Fees: other

    total $3,753,994 · program services $3,662,608 · management and general $91,386

  • 12 · Advertising and promotion

    total $162,304 · program services $51,406 · management and general $110,898

  • 16 · Occupancy

    total $837,687 · program services $753,111 · management and general $84,576

  • 17 · Travel

    total $5,652 · program services $4,230 · management and general $1,422

  • 19 · Conferences, conventions and meetings

    total $57,871 · program services $39,266 · management and general $18,605

  • 20 · Interest

    total $107,507 · program services $107,507

  • 22 · Depreciation, depletion and amortization

    total $1,502,923 · program services $1,497,531 · management and general $5,392

  • 23 · Insurance

    total $588,339 · program services $92,959 · management and general $495,380

  • 24a · Other expenses: SUPPLIES

    total $1,302,877 · program services $1,270,025 · management and general $32,852

  • 24b · Other expenses: TAXES & LICENSES

    total $963,646 · management and general $963,646

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $597,718 · program services $591,289 · management and general $6,429

  • 24d · Other expenses: MISCELLANEOUS

    total $217,511 · program services $84,470 · management and general $133,041

  • 24e · All other expenses

    total $187,426 · program services $91,639 · management and general $95,787

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,579,361 · end of year $1,300,112

  • 2 · Savings and temporary cash investments

    beginning of year $813,970 · end of year $0

  • 4 · Accounts receivable

    beginning of year $1,812,177 · end of year $1,151,091

  • 9 · Prepaid expenses and deferred charges

    beginning of year $192,338 · end of year $138,024

  • 10a · Land, buildings and equipment: cost or other basis

    $46,951,822

  • 10b · Land, buildings and equipment: accumulated depreciation

    $26,073,072

  • 10c · Land, buildings and equipment, net

    beginning of year $22,108,375 · end of year $20,878,750

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $558,421 · end of year $2,093,620

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,065,338 · end of year $4,368,775

  • 19 · Deferred revenue

    beginning of year $5,980,540 · end of year $6,457,054

  • 23 · Secured mortgages and notes payable

    beginning of year $1,709,690 · end of year $1,725,305

  • 25 · Other liabilities

    beginning of year $10,439,223 · end of year $11,718,764

  • 27 · Net assets without donor restrictions

    beginning of year $3,869,851 · end of year $1,291,699

  • 28 · Net assets with donor restrictions

    end of year $0

Mission and programs · 2022

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE REASONABLY PRICED RETIREMENT AND HEALTH CARE SERVICES, TO PROMOTE LIVING WITH DIGNITY IN A SECURE CHRISTIAN ENVIRONMENT WITH DAILY EFFORTS TO ENHANCE EACH RESIDENT'S SPIRITUAL, MENTAL AND PHYSICAL LIFE. THE ORGANIZATION WILL ASSIST, WHERE POSSIBLE, IN SECURING FINANCIAL ASSISTANCE FOR THOSE RESIDENTS WITH INADEQUATE RESOURCES TO PROVIDE FOR THEIR CARE.

Activities or mission (Part I)

LAKESHORE ESTATES IS A CHRISTIAN BASED COMPANY DEDICATED TO AFFORDABLE CARE OF SENIORS IN DAVIDSON COUNTY,TN. THE ORGANIZATION PROVIDES FINANCIAL ASSISTANCE TO RESIDENTS WITH LIMITED RESOURCES AS WELL AS RESIDENTIAL, INTERMEDIATE & SKILLED NURSING CARE INCLUDING MEDICARE AND MADICAID. THE ORGANIZATION'S MISSION IS TO PROVIDE REASONABLY PRICED RETIREMENT AND HEALTH CARE SERVICES, TO PROMOTE LIVING WITH DIGNITY IN A SECURE CHRISTIAN ENVIRONMENT WITH DAILY EFFORTS TO ENHANCE EACH RESIDENT'S SPIRITUAL, MENTAL AND PHYSICAL LIFE. THE ORGANIZATION WILL ASSIST, WHERE POSSIBLE, IN SECURING FINANCIAL ASSISTANCE FOR THOSE RESIDENTS WITH INADEQUATE RESOURCES TO PROVIDE FOR THEIR CARE.

  • TO PROVIDE REASONABLY PRICED RETIREMENT LIVING AND NURSING HOME CARE TO RESDIENTS AND WHERE POSSIBLE, SECURE FINANCIAL ASSISTANCE FOR THOSE RESIDENTS WITH LIMITED RESOURCES TWO CAMPUSES ARE MAINTAINED WITH COMBINED LICENSES FOR 42 RESIDENTIAL HOME BEDS (21 ROOMS) AND 179 NURSING BEDS ROOMS CONFIGURED BED CAPACTITES ARE 21 RESIDENTIAL AND 160 NURSING DUE TO INCREASING DEMAND FOR PRIVATE ROOMS. THE ORGANIZATION ALSO MAINTAINS SINGLE-FAMILY AND/OR DUPLEX HOMES FOR INDEPENDENT LIVING RESIDENTS AT BOTH LOCATIONS.

    Expenses $16,753,824 · Revenue $17,853,299

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Emily Acuff

    VICE-CHAIRMAN

    Total calculated
    $0
    Hours/week
    3

  • Barbara Outhier

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • John Robinson

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Blake Brock

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Jon Jablonski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Scott Gilmer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lee Horn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Debbie H Lambert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Susan Lloyd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Roy Tom Purkey Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202333179349306378

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