Lake Forest Senior Living Inc

Nonprofit profile at a glance

EIN
141805657
IRS 990 coverage
2016–2025
Forms available
Form 990 2025
Location
Plattsburgh, NY, USA
Phone
5185616431
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$2,542,333
Expenses
$2,040,613
Assets
$11,359,616
Liabilities
$7,133,766

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • PETER STONE (President)

Highest reported compensation

  • BRIAN MINCHOFF (Executive Dir.): $122,823 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Lake forest is a non-profit retirement community solely dedicated to serving seniors aged 68 and over. Emphasis is pledged on high quality independent living, combined with exceptional services that focus on the individualized needs of residents. Emphasis is directed toward healthy aging and opportunities to engage in meaningfulactivities and relationships. There is a commitment to promoting a trusting, respectful, and dignified environment. These qualities are embedded in the milieu of an affordable, non-subsidized housing community.form 990, part iii, line 4 - first accomplishmentlake forest is perched on a 24-acre parcel encompassing a 44-unit apartment-style secured building and 28 town-style duplexes overlooking beautiful lake champlain. Lake forest is nestled in the adirondack mountains, just accross the lake from burlington, Vermont, and about one hour north of the olympic village of lake placid. Hiking, boating, skiing, golfing, fishing, and swimming are just a few of the outdo

What it reported doing in 2025

In 2025, lake forest served 109 individuals. Many residents were already familiar with lake forest before joining the wait list. The average age of residents in apartments was 85 years old. The average age of residents in town style homes was 78 years old.residents hail from various parts of the united states and canada. While some choose lake forest to be closer to familyand friends, others are drawn to the tranquility of the adirondack region of upstate New York, renowned for its natural beauty. Regardless of their reasons, all residents share a common interest in downsizing, enriching their social experiences, enjoying a carefree life style, and receiving support to maintain their independence.turnovers are handled smoothly and swiftly. We excel in communication with prospective residents through routine communication during the move-in process. We offer several written handouts to educate new residents and provide a remarkable orientation at the time of occupancy. Lake forest managed a less than 2% vacancy rate in 2025.

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 65
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.2%; rating input score 65
  • Program expense ratio: 88.2%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 19.7%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 5.57; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.63; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 6%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 6.1% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 65.2% of revenue deployed · 88.2% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $123K · 12 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2016 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.