2024-09-23T13:37:36-05:00 2023-12-31 340677006 MALONEY NOVOTNY LLC 1111 SUPERIOR AVE SUITE 700 CLEVELAND OH 441142540 990 2023-01-01 341481142 LAUREL LAKE RETIREMENT COMMUNITY INC LAUR 3306500681 200 LAUREL LAKE DRIVE HUDSON OH 44236 DAVID A OSTER CEO 3306500681 2024-09-11 1 0 CHRISTOPHER B ANDERSON P00226559 2163630100 2023 2024-08-08 14:25:15Z DAVID A OSTER 200 LAUREL LAKE DRIVE HUDSON OH 44236 29916271 0 X WWW.LAURELLAKE.ORG X 1989 OH A RETIREMENT COMMUNITY OF CHOICE FOR ADULTS WHO ASPIRE TO LEAD LIVES FILLED WITH MEANING, PURPOSE, AND LIFELONG OPPORTUNITIES FOR GROWTH AND SERVICE. 8 8 274 22 27246 25872 620919 1725496 23824810 25015095 931945 2342598 0 833082 25377674 29916271 0 0 0 0 10293021 10100224 0 0 132090 15404017 16085571 25697038 26185795 -319364 3730476 91214495 95941402 71229667 71747362 19984828 24194040 X LAUREL LAKE STRIVES TO BE THE COMMUNITY OF CHOICE FOR ADULTS WHO ASPIRE TO LIVE LIFE WITH MEANING, PURPOSE, AND LIFELONG OPPORTUNITIES FOR GROWTH SERVICES. LAUREL LAKE ACCOMPLISHES THIS PURPOSE BY DEMONSTRATING OUR CORE VALUES OF COMPASSION, RESPECT, EXCELLENCE, AND SERVICE. 0 0 16598218 0 18274459 LIFE PLAN COMMUNITY THAT PROVIDES AN ACTIVE RETIREMENT LIFESTYLE. THE COMMUNITY PROVIDES HOUSEKEEPING, ENVIRONMENTAL SERVICES, EDUCATIONAL AND ENTERTAINMENT ACTIVITIES. TOTAL OF 128,419 RESIDENT DAYS AND AN AVERAGE OF 352 RESIDENTS PER DAY. 5276558 0 5682873 PROVIDE SKILLED NURSING LONG-TERM CARE FOR RESIDENTS TO INCLUDE HOUSING, MEALS, ENVIRONMENTAL SERVICES, AND ACTIVITIES. TOTAL OF 22,519 RESIDENT DAYS AND AN AVERGAGE OF 62 RESIDENTS PER DAY. 974039 0 1890845 PROVIDE ASSISTED LIVING LONG-TERM CARE, INCLUDING MEMORY CARE SERVICES, FOR RESIDENTS TO INCLUDE: HOUSING, MEALS, ENVIRONMENTAL SERVICES, AND ACTIVITIES. TOTAL OF 12,287 RESIDENT DAYS AND AN AVERAGE OF 34 RESIDENTS PER DAY. 22848815 1 1 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 62 0 1 274 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OH X X MADELINE FREEMAN 3306500681 200 LAUREL LAKE DR HUDSON OH 44236 WILLIAM YOUNG CHAIRMAN 1.00 0.00 X X 0 0 0 PAT BLAKE TREASURER 2.00 0.00 X X 0 0 0 STEPHANIE FALLCREEK SECRETARY 1.00 0.00 X X 0 0 0 CLINTON SIMMONS TRUSTEE 1.00 0.00 X 0 0 0 DALE LEPPO RESIDENT TRUSTEE 2.00 0.00 X 0 0 0 PHYLLIS DILLMAN RESIDENT TRUSTEE 2.00 0.00 X 0 0 0 DAVID WILLIAMS RESIDENT TRUSTEE 1.00 0.00 X 0 0 0 HARRY ALBRECHT RESIDENT TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL BIRD TRUSTEE 1.00 0.00 X 0 0 0 JOHN MULLIGAN TRUSTEE 2.00 0.00 X 0 0 0 DAVID OSTER CEO 40.00 0.50 X 359837 0 27202 LORETTA STEVENS CFO (UNTIL 5/23) 40.00 0.50 X 75993 0 72 MADELINE FREEMAN CFO (BEG. 6/23) 40.00 0.50 X 76050 0 28 JEAN CLOUSE MDS NURSE 40.00 0.00 X 109348 0 12065 LISA MITCHELL DIRECTOR OF HR AND ASSISTED LIVING 40.00 0.00 X 106836 0 14803 ANDREW LOVANO DIRECTOR OF CROWN CENTER 40.00 0.00 X 102093 0 2715 VALERIE DUBOSE STNA/NURSING ASSISTANT - SNF 40.00 0.00 X 102088 0 54 SANDRA BOCK REGISTERED NURSE 40.00 0.00 X 100547 0 33996 1032792 0 90935 6 0 1 0 TED KNIGHT & SONS CONSTRUCTION 620 TEREX ROAD HUDSON OH 44236 CONSTRUCTION 838115 ALL SHIFTSALL AMERICAN 494 BROAD STREET NEWARK NJ 07102 STAFFING SERVICES-NURSING 376877 THINK LLP PO BOX 200543 DALLAS TX 75320 TAX CONSULTING SERVICES 275031 TIMOTHY L AMBLER 9147 ROOT DR STREETSBORO OH 44241 PAINTING 140178 4 166986 1558510 1725496 RESIDENT SERVICES 623000 24188223 24188223 ANCILLARY SVCS.REV. 623000 826872 826872 25015095 728026 27246 700780 1614572 0 1614572 1614572 1614572 OTHER NON-OP.INCOME 900099 833082 833082 833082 29916271 25848177 27246 2315352 X 539182 464960 73465 757 7245277 6245392 993010 6875 137965 119875 16720 1370 1505867 1308417 182493 14957 671933 583829 81430 6674 142806 142806 61969 61969 131037 131037 3196268 3117638 78630 75181 11607 63574 54271 52987 1284 379008 329563 45657 3788 3561246 3087283 448531 25432 1239772 1014253 217383 8136 4032659 3508413 483919 40327 469306 408296 56317 4693 DIETARY COSTS 1261831 1261831 FRANCHISE FEE 383842 383842 MEDICAL SUPPLIES 378450 378450 BANK FEES 164598 134657 28861 1080 553327 437522 97804 18001 26185795 22848815 3204890 132090 3831013 3413281 541192 678257 0 18708 152262 159983 99205561 35715829 64838823 63489732 18679743 25339472 539308 539308 1500000 1500000 1132154 802661 91214495 95941402 2074870 2100468 35537718 37002246 6834932 6533875 22195414 21165417 4586733 4945356 71229667 71747362 X 19984828 24194040 19984828 24194040 91214495 95941402 3730476 478736 0 X 0 1 X 1 0 X 349654 757542 2567309 620919 1725496 6020920 24064526 24724987 22837815 23880785 25015095 120523208 24414180 25482529 25405124 24501704 26740591 126544128 0 0 0 126544128 271166 492957 581074 644172 728026 2717395 27195 52461 41412 121068 298361 545418 622486 644172 728026 2838463 833082 833082 24712541 26027947 26027610 25145876 28301699 130215673 0.97180 0.98140 0.02180 0.01860 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER NON-OP REV - 2023 AMOUNT: $ 833,082. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 45.00 1 0 0.00 0 0 3762828 3762828 81960925 26930873 55030052 9713229 7081941 2631288 3768579 1703015 2065564 63489732 ACCRUED REAL ESTATE TAXES 1155709 REFUNDABLE ENTRANCE FEES 1490367 SECURITY DEPOSITS 2299280 4945356 30263970 478736 478736 29785234 131037 131037 29916271 26054758 0 26054758 131037 131037 26185795 PART II, LINE 9: FINANCIAL STATEMENT REPORTING OF EASEMENTS - LAUREL LAKE DOES NOT REPORT ANY AMOUNTS IN THE FINANCIAL STATEMENTS SINCE THE EASEMENT IS ONLY A COMMITMENT NOT TO BUILD ON WETLAND AREAS. X X X 0 0 0 0 0 0 0 0 0 DAVID OSTER CEO 359837 0 0 0 0 0 0 0 27202 0 387039 0 0 0 A COUNTY OF SUMMIT OHIO 346002767 86605HBA7 2013-12-30 14280000 TO FINANCE THE ACQUISITION, CONSTRUCTION, IMPROVEMENT AND EQUIPPING OF LLRC 0 0 0 A 7420000 14280000 461813 308388 285600 13224199 2013 0 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 1 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: COUNTY OF SUMMIT OHIO DATE THE REBATE COMPUTATION WAS PERFORMED: 11/13/2018 FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990 - FORM 990 IS PREPARED BY LAUREL LAKE'S INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY THE CHIEF FINANCIAL OFFICER. FORM 990 IS APPROVED BY THE BOARD'S FINANCE COMMITTEE AND ACCEPTED BY THE BOARD OF DIRECTORS. THE RETURN IS PROVIDED TO THE GOVERNING BODY PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - ALL BOARD MEMBERS ARE COVERED BY THE LAUREL LAKE RETIREMENT COMMUNITY CONFLICT OF INTEREST POLICY WHICH REQUIRES DISCLOSURE ON AN ANNUAL BASIS. ALL POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED BY LAUREL LAKE RETIREMENT COMMUNITY'S CORPORATE COMPLIANCE OFFICER. AT THE BEGINNING OF EACH BOARD MEETING, ALL BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST. BOARD MEMBERS DETERMINED TO HAVE A CONFLICT OF INTEREST ARE PROHIBITED FROM PARTICIPATING IN DELIBERATIONS AND DECISION-MAKING FOR THE TRANSACTION IN WHICH THE CONFLICT EXISTS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW AND APPROVAL - FOR THE ORGANIZATION'S CEO, LAUREL LAKE UTILIZES A WRITTEN EMPLOYMENT CONTRACT, A COMPENSATION SURVEY OR STUDY, COMPENSATION DATA FROM SIMILAR ORGANIZATIONS, AND APPROVAL BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. THE MEMBERS OF THE EXECUTIVE COMMITTEE ARE INDEPENDENT OF THE CEO. THESE COMPENSATION PROCEDURES WERE LAST PERFORMED FOR THE CEO IN 2020. A COMPENSATION ANALYSIS WAS LAST PERFORMED FOR THE ORGANIZATION'S CHIEF FINANCIAL OFFICER IN JANUARY, 2018. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. ADDITIONALLY, AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 144,232. MANAGEMENT AND GENERAL EXPENSES 78,630. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 222,862. CONTRACT AND PURCHASED SERVICES: PROGRAM SERVICE EXPENSES 2,973,406. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,973,406. LAUREL LAKE RETIREMENT COMMUNITY FOUNDATION 200 LAUREL LAKE DRIVE HUDSON OH 44236 341779303 CHARITABLE GIVING OH 501(C)(3) LINE 12A, I LAUREL LAKE RETIREMENT COMMUNITY INC 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 LAUREL LAKE RETIREMENT COMMUNITY FOUNDATION C 166986 FMV