Twin Lakes in Cincinnati, Ohio (OH)

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Twin Lakes
Employer Identification Number (EIN)311708926
Name of OrganizationTwin Lakes
In Care of NameJames Bowersox
Address9840 Montgomery Road, Cincinnati, OH 45242-6255
SubsectionCharitable Organization
Ruling Date04/2003
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$110,728,955
Amount of Income$20,428,949
Form 990 Revenue Amount$19,698,664
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Senior Citizens' Housing/Retirement Communities


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Amount of income in 2013: $20,428,949
This organization: 

 $20,428,949
Other organizations performing similar types of work: 

 $284,463

Assets in 2013: $110,728,955
This organization: 

 $110,728,955
Other organizations performing similar types of work: 

 $1,921,874

Expenses in 2012: $18,906,430
This organization: 

 $18,906,430
Other organizations performing similar types of work: 

 $319,873

Income to expenses ratio in 2012: 1.1
Twin Lakes: 

 1.1
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 90.8%
This organization: 

 90.8%
Other organizations performing similar types of work: 

 88.6%

Grants share in income in 2012: 0.3%
This organization: 

 0.3%
Other organizations performing similar types of work: 

 0.5%

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$18,981,258
Contributions, Gifts, Grants and Other Similar Amounts$53,372
Program Service Revenue$18,299,661
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$940,201
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$1,787
Gross rents (Real / Personal)$91,728 / $0
Less: rental expenses (Real / Personal)$89,941 / $0
Rental income or (loss) (Real / Personal)$1,787 / $0
Net loss from sales of assets other than inventory$-458,218
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $39,003
Less: cost or other basis and sales expenses (Securities / Other)$0 / $497,221
Gain or (loss) (Securities / Other)$0 / $-458,218
Net income from fundraising events$1,448
Gross income from fundraising events$31,237
Less: direct expenses$29,789
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$143,007
Statement of Functional Expenses (for 2012)
Total functional expenses$18,906,430
Compensation of current officers, directors, trustees, and key employees$116,731
Other salaries and wages$3,606,128
Payroll taxes$277,714
Professional fundraising services$0
Other$14,905,857
Balance Sheet (for 2012)
Total assets$109,025,746
Total liabilities$109,784,849
Tax-exempt bond liabilities$62,670,676
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$47,114,173
Total net assets or fund balances$-759,103
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Support Schedule for Organizations Described in Section 509(a)(2) (for 2012)
2008 - 2012 Total
Total support$92,269,802
Gifts, grants, contributions, and membership fees received$1,369,324
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$86,443,496
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$4,229,291
Other$227,691
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20032004200520062007
Total revenue$8,925,221$3,306,493$8,179,161$14,200,838$16,410,336
Contributions, gifts, grants, and similar amounts received$8,783,411$802,729$501,886$131,795$127,969
Contributions to donor advised funds$0$0
Direct public support$0$0$0$35,931$0
Indirect public support$8,783,411$802,729$501,886$95,864$127,969
Government contributions (grants)$0$0$0$0$0
Program service revenue including government fees and contracts$89,367$2,091,661$6,380,162$13,651,392$15,718,769
Membership dues and assessments$0$0$0$0$0
Interest on savings and temporary cash investments$0$42,158$0$0$0
Dividends and interest from securities$31,696$0$110,891$284,503$389,512
Net rental income or (loss)$0$0$0$0$0
Gross rents$0$0$0$0$0
Less: rental expenses$0$0$0$0$0
Other investment income$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$5,860$26,847$-9,894$-17,088$30,463
Gross amount from sales of assets other than inventory$236,930$697,422$1,803,282$1,303,407$173,963
Less: cost or other basis and sales expenses$231,070$670,575$1,813,176$1,320,495$143,500
Net income or (loss) from special events and activities$0$0$0$0$0
Gross revenue$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0
Other revenue$14,887$343,098$1,196,116$150,236$143,623
Total expenses$1,427,072$3,530,450$11,478,238$17,852,848$16,765,468
Program services$1,369,633$3,312,378$10,071,961$15,457,936$15,216,782
Management and general$57,439$218,071$1,406,277$2,394,912$1,548,686
Fundraising$0$0$0$0$0
Payments to affiliates$0$0$0$0$0
Net assets or fund balances at end of year$7,739,556$7,441,651$4,175,519$-1,159,317$-2,014,277
Excess or (deficit) for the year$7,498,149$-223,957$-3,299,077$-3,652,010$-355,132
Net assets or fund balances at beginning of year$131,396$7,739,556$7,441,651$4,175,520$-1,159,317
Other changes in net assets or fund balances$110,011$-73,948$32,945$-1,682,827$-499,828
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$16,765,468$15,216,782$1,548,686$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$296,234$0$296,234$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$3,462,493$3,276,940$185,553$0
Pension plan contributions not included above$60,582$51,205$9,377$0
Employee benefits not included above$410,147$398,839$11,308$0
Payroll taxes$407,722$379,593$28,129$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$12,634$0$12,634$0
Supplies$551,772$544,230$7,542$0
Telephone$55$55$0$0
Postage and shipping$9,618$4,196$5,422$0
Occupancy$1,743,205$1,743,205$0$0
Equipment rental and maintenance$145,014$145,014$0$0
Printing and publications$27,285$3,504$23,781$0
Travel$4,210$2,394$1,816$0
Conferences, conventions, and meetings$5,205$3,323$1,882$0
Interest$3,042,757$3,034,307$8,450$0
Depreciation, depletion, etc.$2,758,386$2,735,119$23,267$0
Other expenses not covered above$3,828,149$2,894,858$933,291$0
Balance Sheets
20032004200520062007
Total assets$101,434,589$124,085,949$114,745,270$112,796,979$111,838,363
Cash - non-interest-bearing$70,741$1,760$797,374$4,438,308$8,903,592
Savings and temporary cash investments$0$0$0$0$0
Accounts receivable less allowance for doubtful accounts$59,729$174,490$224,696$845,158$689,879
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0
Grants receivable$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$689,713$1,918,052$2,994,136$1,982,981$444,500
Inventories for sale or use$0$0$0$0$0
Prepaid expenses and deferred charges$3,762$143,856$145,410$54,336$38,572
Investments - publicly-traded securities$1,032,505$685,671
Investments - other securities$3,644,582$2,875,461$1,040,297$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0
Investments - other$52,959,568$26,285,616$4,590,608$2,678,829$0
Land, buildings, and equipment less accumulated depreciation$39,134,967$88,431,788$100,598,192$101,170,751$100,503,576
Other assets, including program-related investments$4,871,527$4,254,926$4,354,557$594,111$572,573
Total liabilities$93,695,033$116,644,297$110,569,750$113,956,296$113,852,640
Accounts payable and accrued expenses$1,094,368$7,839,325$3,864,558$5,241,114$4,535,846
Grants payable$0$0$0$0$0
Deferred revenue$0$0$41,615,818$13,408,533$13,784,817
Loans from officers, directors, trustees, and key employees$0$0$0$0$0
Tax-exempt bond liabilities$85,000,000$85,000,000$65,000,000$65,000,000$65,400,049
Mortgages and other notes payable$0$0$89,374$66,762$42,143
Other liabilities$7,600,665$23,804,972$0$30,239,887$30,089,785
Total liabilities and net assets/fund balances$101,434,589$124,085,948$114,745,270$112,796,979$111,838,363
Total net assets or fund balances$7,739,556$7,441,651$4,175,520$-1,159,317$-2,014,277
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20032004200520062007
Total revenue$0$0$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0$0
Other expenses$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0
Other$0$0$0$0$0
Other revenue$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20032004200520062007
Total expenses$0$0$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0$0
Other revenue$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Prior year adjustments$0$0$0$0$0
Losses$0$0$0$0$0
Other$0$0$0$0$0
Other expenses$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
17$80,620$9,672$3,506
13$42,536$6,574$0
15$32,281$3,976$0
16$7,693$4,703$0
50$90,042$14,631$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings11
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$3,818
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006146
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$563,598$15,718,769
Program service revenue
Program service revenue 1000000$000$0$14,277,080
Program service revenue 2000000$000$0$1,441,689
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$389,512$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$30,463$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$143,623$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$82,037$16,764$0
$77,837$10,975$0
$65,600$9,829$0
$58,117$15,093$0
$64,236$8,795$0
Total number of other employees paid over $50,00014
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$127
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
20022003200420052006
Total$331,530$404,474$2,998,482$6,372,477$14,373,205
Gifts, grants, and contributions received$295,412$283,411$802,729$501,886$131,795
Membership fees received$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$21,540$89,367$2,136,881$5,756,888$13,795,400
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$14,578$31,696$58,872$113,703$295,774
Net income from unrelated business activities not included above$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0
Other income$0$0$0$0$150,236
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Number of organizations performing similar types of work
Alaska13
Alabama39
Arkansas54
Arizona36
California254
Colorado60
Connecticut29
District of Columbia9
Delaware8
Florida162
Georgia94
Hawaii13
Iowa34
Idaho8
Illinois82
Indiana47
Kansas26
Kentucky31
Louisiana50
Massachusetts80
Maryland68
Maine21
Michigan95
Minnesota109
Missouri60
Mississippi16
Montana11
North Carolina75
North Dakota13
Nebraska21
New Hampshire18
New Jersey69
New Mexico15
Nevada6
New York174
Ohio130
Oklahoma35
Oregon56
Pennsylvania120
Rhode Island26
South Carolina38
South Dakota11
Tennessee79
Texas157
Utah8
Virginia57
Vermont13
Washington51
Wisconsin58
West Virginia12
Wyoming8
International77
Total2,836

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