2025-05-13T13:31:44-05:00 2024-06-30 450250958 EIDE BAILLY LLP 931 N PLUM GROVE RD SCHAUMBURG IL 601734853 990 2023-07-01 341343665 LAKES SENIOR HOUSING INC LAKE 3307624011 730 WEST MARKET STREET AKRON OH 44303 JAMES DAVIS PRESIDENT 3307624011 2025-05-13 1 1 HEATHER L BIRKETT CPA P01058933 8475174300 2025-05-13 2023 2025-03-06 01:10:19Z JAMES DAVIS 730 WEST MARKET STREET AKRON OH 44303 732995 0 X N/A X 1979 OH OWN AND OPERATE LOW-INCOME HOUSING FOR ELDERLY AND HANDICAPPED PERSONS 9 9 0 9 0 0 0 0 658892 731663 162 271 1336 1061 660390 732995 0 0 0 0 0 0 0 0 0 643346 646302 643346 646302 17044 86693 755819 808003 1666003 1631494 -910184 -823491 LOW-INCOME HOUSING FOR ELDERLY AND HANDICAPPED PERSONS 0 0 604003 731663 THE ORGANIZATION OPERATES LOW-INCOME HOUSING FOR ELDERLY AND HANDICAPPED PERSONS. THE FACILITY CONSISTS OF 45 UNITS AND IS REGULATED BY HUD. 604003 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 OH X BRENT MEYER 3307624011 730 W MARKET AKRON OH 44303 X THURMAN COLE III VICE PRESIDENT 1.00 X X 0 0 0 THOMAS E BURGE TREASURER 1.00 X X 0 0 0 SUSAN J FASSOLES SECRETARY 1.00 X X 0 0 0 JAMES DAVIS PRESIDENT 1.00 X X 0 0 0 ALFRED GRZESCHIK TRUSTEE 1.00 X 0 0 0 JOHN P SCHERMESSER TRUSTEE 1.00 X 0 0 0 VICKI KEPNES TRUSTEE 1.00 X 0 0 0 CHARLES SEELEY TRUSTEE 1.00 X 0 0 0 TIMOTHY PETERSON TRUSTEE 1.00 X 0 0 0 0 0 0 0 0 0 0 0 RENTAL INCOME 531110 727633 727633 LAUNDRY AND VENDING 531110 2588 2588 TENANT CHARGES 531110 1442 1442 731663 271 271 MISCELLANEOUS REVENUE 900099 1061 1061 1061 732995 731663 0 1332 X 24840 24840 996 996 21590 21590 245333 226775 18558 4080 4080 29353 28198 1155 202096 202096 20386 20386 7509 7509 MAINTENANCE 59323 59323 SOCIAL SERVICES 11425 11425 BAD DEBT 318 318 19053 19053 646302 604003 42299 0 100 100 66041 68096 1804 11 25309 32451 2563606 2269409 314583 294197 347982 413148 755819 808003 35065 61877 359 898 1611925 1549312 18654 19407 1666003 1631494 X -910184 -823491 -910184 -823491 755819 808003 86693 0 X X 0 1 X 1 1 1 X 653529 692771 683894 658892 731663 3420749 653529 692771 683894 658892 731663 3420749 0 0 0 3420749 202 126 96 162 271 857 202 126 96 162 271 857 3017 1336 1061 5414 653731 692897 687007 660390 732995 3427020 0.99820 0.99530 0.00030 0.00020 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE - 2021 AMOUNT: $ 3,017. 2022 AMOUNT: $ 1,336. 2023 AMOUNT: $ 1,061. 92092 92092 2221889 2042448 179441 200887 178223 22664 48738 48738 0 294197 MORTGAGE ESCROW 27970 REPLACEMENT RESERVE 344721 RESIDUAL RECEIPTS 40457 413148 SECURITY DEPOSITS 19407 19407 X 732995 0 732995 0 732995 646302 0 646302 0 646302 PART X, LINE 2: THE ORGANIZATION QUALIFIES FOR TAX EXEMPT STATUS UNDER IRS CODE SECTION 501(C)(3). ACCORDINGLY, NO PROVISION IS NECESSARY FOR FEDERAL, STATE, AND LOCAL INCOME TAXES. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION A, LINE 3 SUMMIT MANAGEMENT MANAGES THE DAY TO DAY OPERATIONS OF THE AFFORDABLE HOUSING PROJECT, WHICH MAKES UP 100% OF THE NONPROFIT'S ASSETS AND ACTIVITIES. SUMMIT MANAGEMENT PROVIDES THE ACCOUNTING SERVICES FOR THE OPERATIONS OF THE AFFORDABLE HOUSING PROJECT OWNED BY LAKES SENIOR HOUSING. LAKES SENIOR HOUSING HAS NO DIRECT EMPLOYEES AND NO EMPLOYEES OF SUMMIT MANAGEMENT ARE MEMBERS OF THE BOARD OF LAKES SENIOR HOUSING. SUMMIT MANAGEMENT DOES PREPARE THE OPERATING BUDGET FOR THE PROJECT, HOWEVER, APPROVAL OF THAT BUDGET AND ANY OTHER MAJOR DECISIONS ON POLICIES AND GOVERNANCE OF LAKE SENIOR HOUSING REMAIN WITH THE INDEPENDENT BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 8B ENTITY HAS OTHER COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED WITH THE PRESIDENT OF THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST FORM 990, PART IX, LINE 11G OTHER FEES - OFFICE SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 15,756. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 15,756. OTHER FEES - MANAGER: PROGRAM SERVICE EXPENSES 49,300. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 49,300. OTHER FEES - MAINTENANCE SERVICES: PROGRAM SERVICE EXPENSES 126,070. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 126,070. OTHER FEES - SNOW REMOVAL: PROGRAM SERVICE EXPENSES 5,023. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,023. OTHER FEES - ALL OTHER CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 46,382. MANAGEMENT AND GENERAL EXPENSES 2,802. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 49,184.