Lakeshore Estate Inc
- Assets
- $27.1m
- Revenue
- $18.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 12/1955
- Data as of
- 12/2021
- EIN
- 62-0604630
Organization Overview
Lakeshore Estate Inc is located in Nashville, TN. The organization was established in 1955. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakeshore Estate 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 12/2021, Lakeshore Estate Inc generated $18.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $19.8m during the year ending 12/2021. While expenses have increased by 3.7% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
LAKESHORE ESTATES IS A CHRISTIAN BASED COMPANY DEDICATED TO AFFORDABLE CARE OF SENIORS IN DAVIDSON COUNTY,TN. THE ORGANIZATION PROVIDES FINANCIAL ASSISTANCE TO RESIDENTS WITH LIMITED RESOURCES AS WELL AS RESIDENTIAL, INTERMEDIATE & SKILLED NURSING CARE INCLUDING MEDICARE AND MADICAID. THE ORGANIZATION'S MISSION IS TO PROVIDE REASONABLY PRICED RETIREMENT AND HEALTH CARE SERVICES, TO PROMOTE LIVING WITH DIGNITY IN A SECURE CHRISTIAN ENVIRONMENT WITH DAILY EFFORTS TO ENHANCE EACH RESIDENT'S SPIRITUAL, MENTAL AND PHYSICAL LIFE. THE ORGANIZATION WILL ASSIST, WHERE POSSIBLE, IN SECURING FINANCIAL ASSISTANCE FOR THOSE RESIDENTS WITH INADEQUATE RESOURCES TO PROVIDE FOR THEIR CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE REASONABLY PRICED RETIREMENT LIVING AND NURSING HOME CARE TO RESDIENTS AND WHERE POSSIBLE, SECURE FINANCIAL ASSISTANCE FOR THOSE RESIDENTS WITH LIMITED RESOURCES TWO CAMPUSES ARE MAINTAINED WITH COMBINED LICENSES FOR 42 RESIDENTIAL HOME BEDS (21 ROOMS) AND 179 NURSING BEDS ROOMS CONFIGURED BED CAPACTITES ARE 21 RESIDENTIAL AND 160 NURSING DUE TO INCREASING DEMAND FOR PRIVATE ROOMS. THE ORGANIZATION ALSO MAINTAINS SINGLE-FAMILY AND/OR DUPLEX HOMES FOR INDEPENDENT LIVING RESIDENTS AT BOTH LOCATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Outhier Secretary | OfficerTrustee | 3 | $0 |
John Robinson Treasurer | OfficerTrustee | 3 | $0 |
Mike Purkey Dec'd 621 Chairman | OfficerTrustee | 2 | $0 |
Emily Acuff Vice-Chairman | OfficerTrustee | 3 | $0 |
Patricia Gammel Director | Trustee | 3 | $0 |
Roy Tom Purkey Jr Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Edward Applebyappleby's Painting Paint/repairs | 12/30/20 | $191,125 |
Head Brothers Landscaping | 12/30/20 | $127,675 |
Frank Tyreefrank Tyree & Associates Construction | 12/30/20 | $1,217,238 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,368,609 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,412 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,370,021 |
| Total Program Service Revenue | $16,524,424 |
| Investment income | $21,079 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $73,217 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,022,154 |
| 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 | $10,035,927 |
| Fees for services: Legal | $8,691 |
| Fees for services: Accounting | $78,480 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,841 |
| Fees for services: Other | $3,581,982 |
| Advertising and promotion | $53,411 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $731,850 |
| Travel | $1,824 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,771 |
| Interest | $107,539 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,486,166 |
| Insurance | $517,820 |
| All other expenses | $262,357 |
| Total functional expenses | $19,766,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,579,361 |
| Savings and temporary cash investments | $813,970 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,812,177 |
| 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 | $192,338 |
| Net Land, buildings, and equipment | $22,108,375 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $558,421 |
| Total assets | $27,064,642 |
| Accounts payable and accrued expenses | $5,065,338 |
| Grants payable | $0 |
| Deferred revenue | $5,980,540 |
| 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 | $1,709,690 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,439,223 |
| Total liabilities | $23,194,791 |
| Net assets without donor restrictions | $3,869,851 |
| Net assets with donor restrictions | $0 |
| 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 | $27,064,642 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lakeshore Estate Inc has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Washington Foundation Nashville, TN PURPOSE: UNRESTRICTED GIFT | $15,000 |
Ezell Foundation Inc Nashville, TN PURPOSE: GENERAL | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Methodist Home For The Aging Birmingham, AL | $118,213,803 | $51,510,138 |
Presbyterian Homes Inc Colfax, NC | $256,348,828 | $62,438,008 |
Aldersgate United Methodist Retirement Community Inc Charlotte, NC | $165,248,151 | $44,725,662 |
Everyage Newton, NC | $158,969,277 | $58,100,743 |
Lenbrook Square Foundation Inc Atlanta, GA | $291,448,667 | $46,078,205 |
Southminster Inc Charlotte, NC | $251,267,272 | $46,562,509 |
Sunnyside Presbyterian Home Harrisonburg, VA | $146,625,946 | $50,868,403 |
Masonic Homes Of Kentucky Inc Masonic Home, KY | $92,700,057 | $43,584,418 |
Carolina Meadows Inc Chapel Hill, NC | $159,623,308 | $43,472,709 |
Springmoor Inc Raleigh, NC | $57,744,266 | $37,768,204 |
Williamsburg Landing Inc Williamsburg, VA | $188,766,508 | $45,342,775 |
Friendship Village Of West County Chesterfield, MO | $195,171,509 | $29,494,334 |