The Admiral at the Lake

What it reported doing in 2025

The admiral at the lake (the admiral) is a non-profit continuing care retirement community, or life plan community, in chicago, Illinois consisting of 196 independent living apartments, 39 assisted living suites, 17 memory care units, and 36 private skilled nursing beds.in 2025, the admiral at the lake fulfilled its mission and charitable purpose by providing housing, healthcare, supportive services, and opportunities for engagement to more than 450 adults age 62 and older. As of december 31, 2025, the community maintained an overall occupancy rate of 89% across 196 independent living apartments and its assisted living, memory support, and skilled nursing residences. Together, these residences provide a continuum of care that allows residents to receive additional services and support as their needs change.the admiral offered wellness, social, educational, and cultural programs supporting residents' physical, emotional, intellectual, and social well-being. Services included fitness and aquatic programs, individualized wellness coaching, nutrition counseling from a licensed dietitian, and chef-prepared meals tailored to dietary and health needs. Residents also participated in lectures, performing arts programs, cultural outings, creative activities, and resident-led interest groups that encouraged lifelong learning, social connection, and meaningful engagement.residents entering independent living sign life care residency agreements that provide access to housing, services, and healthcare throughout their time at the admiral. Consistent with its charitable mission, the admiral provides financial assistance to qualifying residents who experience financial hardship. In 2025, the admiral provided more than $98,000 in direct financial assistance and subsidies for room and board, as well as medical expenses. The admiral also continued to honor commitments under certain legacy residency agreements covering qualifying medical and related expenses.the admiral's charitable activities also extended to the surrounding chicago community. During 2025, the admiral hosted luncheons for more than 100 students and teachers from goudy school and partnered with st. Ignatius college prep to create intergenerational tutoring opportunities involving residents and students. The admiral served as a polling location for the chicago board of elections and made its facilities available to neighborhood organizations for meetings, educational programs, and community events.residents and staff supported local organizations through volunteer service, fundraising, and collection drives. Activities included reading to elementary school students, supporting the alzheimer's association through the walk to end alzheimer's, and organizing charitable donations. A winter clothing drive collected donations for cornerstone community outreach. The quarterly "trash to treasure" program promoted reuse and charitable giving. The admiral also supported its immediate neighborhood through snow removal in shared alleyways and on adjacent sidewalks.as an active participant in uptown and edgewater business and community organizations, the admiral provided space for educational and networking events and supported neighborhood initiatives, including uptown pride activities. Through these programs and partnerships, the admiral continued to advance its mission of enhancing the lives of older adults while serving as an engaged member of the broader community.

Financial Efficiency

• Mission deployment rate: 87.9%; rating input score 88
• Program expense ratio: 79.2%; rating input score 79
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 16th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 94.1%; rating input score 94; 23rd percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • 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: -12.3%; rating input score 5; 5th percentile among comparable filings
• Total-asset coverage ratio: 4.01; rating input score 73; 73rd percentile among comparable filings
• Liabilities to assets ratio: 2.14; rating input score 0; 0th percentile among comparable filings
• Officer compensation ratio: 4.5%; rating input score 61; 61st percentile among comparable filings

Growth

• Program expense growth: -0.6% per year; rating input score 0; 9th percentile among comparable filings
• Revenue growth: 10.5% per year; rating input score 100; 75th percentile among comparable filings
• Asset growth: -4.2% per year; rating input score 0; 2nd percentile among comparable filings