Lutheran Housing Services 7 Incorporated
- Assets
- $2.0m
- Revenue
- $378.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Toledo, OH
- Founding
- 08/1982
- Data as of
- 12/2022
- EIN
- 34-1364624
Organization Overview
Lutheran Housing Services 7 Incorporated, operating under the name Luther Woods, is located in Toledo, OH. The organization was established in 1982. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. Luther Woods 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 12/2022, Luther Woods generated $378.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $514.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
NONPROFIT AFFORDABLE HOUSING FACILITY CONSISTING OF 52 UNITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONPROFIT AFFORDABLE HOUSING FACILITY CONSISTING OF 52 UNITS PER OUR MISSION STATEMENT AS FOLLOWS: INSPIRED BY THE CHRISTIAN FAITH, WE EMBRACE INDIVIDUALS AND FAMILIES WITH COMPASSIONATE CARE AND SERVICES THROUGHOUT LIFE'S JOURNEY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William R Marshall President/ce | Officer | 1 | $0 |
Lorinda Schalk Treasurer/cf | Officer | 1 | $0 |
Amanda Schroeder Vp-Home & Co | 3 | $0 | |
Ann Marshall Director | Trustee | 0.25 | $0 |
Kathy Martin Director | Trustee | 0.25 | $0 |
Kevin Rahe Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $500 |
| 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 | $500 |
| Total Program Service Revenue | $376,501 |
| Investment income | $1,242 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$16 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $378,923 |
| 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 | $328 |
| Fees for services: Accounting | $8,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,437 |
| Advertising and promotion | $199 |
| Office expenses | $7,401 |
| Information technology | $5,202 |
| Royalties | $0 |
| Occupancy | $159,673 |
| Travel | $49 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $35 |
| Interest | $86,226 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $98,767 |
| Insurance | $7,872 |
| All other expenses | $5,450 |
| Total functional expenses | $514,021 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,318 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $321 |
| Prepaid expenses and deferred charges | $3,523 |
| Net Land, buildings, and equipment | $1,531,151 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $427,906 |
| Total assets | $1,977,219 |
| Accounts payable and accrued expenses | $72,071 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $762,627 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,571,748 |
| Total liabilities | $3,406,446 |
| Net assets without donor restrictions | -$1,429,227 |
| 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 | $1,977,219 |