Southlake Tri-city Rba Corporation Dba Lake Park Residential Care

Nonprofit profile at a glance

EIN
205153554
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Merrillville, IN, USA
Phone
2197571921
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$2,189,848
Expenses
$2,290,504
Assets
$2,950,167
Liabilities
$3,521,708

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • WILLIAM TROWBRIDGE (EX-OFFICIO & REGIONAL CEO)

Highest reported compensation

  • WILLIAM TROWBRIDGE (EX-OFFICIO & REGIONAL CEO): $410,049 total reported compensation
  • LASHAUN WOODS (EX-OFFICIO & GEMINUS CFO): $148,697 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide low income housing.

What it reported doing in 2024

Lake park residential is a licensed residential care facility serving persons incapable of living in their own home due to dementia, mental illness or physical disability, but whose needs do not require placement in a skilled nursing or intermediate care facility. Lake park residential provides room, board and assistance to its residents and has staff available 24 hours per day, 7 days per week. The facility delivered approximately 365 days of care in fiscal year 2025.

Operating model

Revenue model
Grant-funded. 92% of the money available for current operations came from government grants.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 65
  • Accountability: 91
  • Sustainability: 30
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.2%; rating input score 91
  • Program expense ratio: 87.2%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.6%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 1.29; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 1.19; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 54; 54th percentile among comparable filings

Growth

  • Program expense growth: 1.4% per year; rating input score 100; 19th percentile among comparable filings
  • Revenue growth: 0.3% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: -2% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 91.2% of revenue deployed · 87.2% of spending went to programs
  • Governance: 12 of 12 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2M in reported program spending
  • Leadership: top reported pay $410K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 11 filed related-organization links
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 21/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Review — Sustainability: Officer compensation ratio scored 54/100.