Lutheran Home Hickory West Property Inc
- Assets
- $17.5m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Salisbury, NC
- Founding
- 04/1988
- Data as of
- 09/2021
- EIN
- 20-5304712
Organization Overview
Lutheran Home Hickory West Property Inc is located in Salisbury, NC. The organization was established in 1988. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Lutheran Home Hickory West Property 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 09/2021, Lutheran Home Hickory West Property Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $916.4k during the year ending 09/2021. 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
EMPOWERED BY CHRIST, WE WALK TOGETHER WITH ALL WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LUTHERAN HOME HICKORY WEST PROPERTY, INC. OWNS THE LAND AND BUILDING LOCATED AT 2140 MEDICAL PARK DRIVE IN HICKORY, NC. THE CORPORATION LEASES THE NURSING HOME TO LUTHERAN HOME HICKORY WEST, INC., WHICH STRIVES TO BE A TRUE HOME FOR ITS RESIDENTS, A PLACE OF COMFORT, SECURITY AND BELONGING. AS LESSOR, LUTHERAN HOME HICKORY WEST PROPERTY, INC. CHARGES REASONABLE LEASE PAYMENTS SUFFICIENT TO PROVIDE ON-GOING UPKEEP OF THE FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ted Goins Ceo/president | OfficerTrustee | 1 | $0 |
Karen Maddry Secretary | Officer | 1 | $0 |
Kesha Smith COO - Senior Services | Officer | 1 | $0 |
Kirby Nickerson Chief Financial Officer | Officer | 1 | $0 |
Gregory Hudgins Chair | Trustee | 1 | $0 |
Cary M Grant Vice Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $820,000 |
| Investment income | $33,268 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $269,453 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,068,606 |
| 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 | $0 |
| Fees for services: Legal | $244 |
| Fees for services: Accounting | $250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,603 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $423,389 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $468,219 |
| Insurance | $22,694 |
| All other expenses | $0 |
| Total functional expenses | $916,399 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $179,021 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $57,245 |
| 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 | $0 |
| Net Land, buildings, and equipment | $11,933,922 |
| Investments—publicly traded securities | $1,639,087 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,702,339 |
| Total assets | $17,511,614 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $12,685,591 |
| 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 | $0 |
| Total liabilities | $12,685,591 |
| Net assets without donor restrictions | $4,826,023 |
| 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 | $17,511,614 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lutheran Home-Hickory West Inc Salisbury, NC | $4,616,109 | $14,117,518 |
Lutheran Home - Wilmington Inc Salisbury, NC | $3,485,965 | $12,654,546 |
Community Affordable Housing Equity Corporation Raleigh, NC | $30,228,876 | $11,307,712 |
Lutheran Home-Albemarle Inc Salisbury, NC | $5,090,743 | $9,142,249 |
Chambliss Center For Children Chattanooga, TN | $13,773,339 | $7,553,657 |
Passage Home Inc Raleigh, NC | $13,185,958 | $5,411,567 |
Covenant House Georgia Inc Atlanta, GA | $22,755,199 | $6,304,494 |
Seacliff Village Shopping Center Inc Charlotte, NC | $151,078,311 | $8,901,233 |
Mason Housing Inc Fairfax, VA | $24,839,248 | $3,905,662 |
The House Inc Woodbridge, VA | $1,787,552 | $4,341,712 |
Monroe Harding Inc Nashville, TN | $12,177,860 | $4,360,503 |
South Carolina Community Loan Fund Charleston, SC | $42,539,456 | $4,959,016 |