Lakefront Senior Residences Inc
- Assets
- $539.5k
- Revenue
- $276.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Wichita, KS
- Founding
- 07/1996
- Data as of
- 05/2023
- EIN
- 48-1179782
Organization Overview
Lakefront Senior Residences Inc is located in Wichita, KS. The organization was established in 1996. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakefront Senior Residences Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2023, Lakefront Senior Residences Inc generated $276.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $352.0k during the year ending 05/2023. While expenses have increased by 4.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
MAINTENANCE AND OPERATIONS OF LOW-INCOME HOUSING PROJECTS FOR LOW-INCOME ELDERLY INDIVIDUALS THROUGH H.U.D. PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKEFRONT SENIOR RESIDENCES, INC (A KANSAS NOT-FOR-PROFIT CORPORATION)WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 40 UNIT APARTMENT COMMUNITY IN WICHITA, KANSAS, KNOWN AS LAKEFRONT SENIOR RESIDENCES, PURSUANT TO SECTION 202 OF THE NATIONAL AFFORDABLE ACT, AS AMENDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Byron Adrian President | OfficerTrustee | 1 | $0 |
Chuck Graber Vice-President | OfficerTrustee | 1 | $0 |
Nate Jiwanlal Secretary | OfficerTrustee | 1 | $0 |
Dorothy Shelby Secretary Thru 9.27 | OfficerTrustee | 1 | $0 |
Lane Kvasnicka Treasurer (vp Thru 9.27) | OfficerTrustee | 1 | $0 |
Steve Howard Director (treasurer Thru 9.27) | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $116,325 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $116,325 |
| Total Program Service Revenue | $144,471 |
| Investment income | $206 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $276,411 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $34,814 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,440 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $366 |
| Office expenses | $12,042 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $148,619 |
| Travel | $4,956 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $108 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,044 |
| Insurance | $784 |
| All other expenses | $0 |
| Total functional expenses | $352,017 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $738 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,072 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,839 |
| Net Land, buildings, and equipment | $497,535 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $23,299 |
| Intangible assets | $0 |
| Other assets | $14,034 |
| Total assets | $539,517 |
| Accounts payable and accrued expenses | $42,343 |
| Grants payable | $0 |
| Deferred revenue | $593 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,662 |
| Total liabilities | $56,598 |
| Net assets without donor restrictions | -$1,680,981 |
| Net assets with donor restrictions | $2,163,900 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $539,517 |