Martin Luther Home Corporation
- Assets
- $34.4m
- Revenue
- $17.3m
- Investments
- $0.0
- Employees
- 385
- Location
- Dubuque, IA
- Founding
- 11/1961
- Data as of
- 12/2020
- EIN
- 42-0713635
Organization Overview
Martin Luther Home Corporation is located in Dubuque, IA. The organization was established in 1961. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Martin Luther Home Corporation employed 385 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Martin Luther Home Corporation 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 12/2020, Martin Luther Home Corporation generated $17.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $16.8m during the year ending 12/2020. While expenses have increased by 10.1% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTHCARE AND OTHER RELATED SERVICES FOR AGING PERSONS REGARDLESS OF THE ABILITY OF RESIDENTS TO PAY FOR THESE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATES 2 RETIRMENT COMMUNITY CAMPUSES. IN DUBUQUE, IA THE CAMPUS INCLUDES 103 NURSING BEDS OF WHICH 16 ARE ALZHEIMERS UNITS, AND 33 INDEPENDENT LIVING APARTMENTS. THE ASBURY CAMPUS INCLUDES A 32 BED NURSING FACILITY, 50 LICENSED BEDS FOR ASSISTED LIVING INCLUDING 34 FOR RESIDENTS WITH DEMENTIA, AND 48 INDEPENDENT LIVING TOWN HOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janet Warren Executive Director | Officer | 40 | $165,283 |
Susan Hansen Secretary/treasurer | OfficerTrustee | 2 | $0 |
Larry Croghan President | OfficerTrustee | 2 | $0 |
Justin Mills Vice President | OfficerTrustee | 2 | $0 |
Jim Sass Director | Trustee | 2 | $0 |
Mark Arnold Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Millennium Rehab Therapy | 12/30/20 | $835,421 |
Conlon Construction Construction | 12/30/20 | $291,992 |
Ryun Givens & Company Accounting Firm | 12/30/20 | $102,295 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,806,907 |
| Investment income | $3,142 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,283,638 |
| Statement of Expenses | |
|---|---|
| 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. | $171,352 |
| Compensation to disqualified persons | $8,543,212 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $833,115 |
| Payroll taxes | $657,423 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,346,953 |
| Advertising and promotion | $42,012 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $772,112 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $657,855 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,954,528 |
| Insurance | $165,265 |
| All other expenses | $0 |
| Total functional expenses | $16,831,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,800,662 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $729,486 |
| 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 | $242,301 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $189,262 |
| Total assets | $34,357,421 |
| Accounts payable and accrued expenses | $2,054,063 |
| Grants payable | $0 |
| Deferred revenue | $12,234,847 |
| 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 | $19,110,643 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $33,399,553 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $957,868 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Martin Luther Home Corporation has recieved totaling $10,680.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Dubuque Dubuque, IA PURPOSE: Community Support | $10,680 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lutheran Home Belle Plaine, MN | $28,969,103 | $28,215,877 |
Martin Luther Home Corporation Dubuque, IA | $34,357,421 | $17,283,638 |
Apple Canyon Lake Property Owners Association Apple River, IL | $10,186,851 | $3,960,232 |
North Oaks Home Owners Association Inc North Oaks, MN | $5,590,480 | $4,009,438 |
820 W Belle Plaine Cooperative Chicago, IL | $8,052,333 | $2,389,201 |
Building Owners And Managers Association Of Chicago Chicago, IL | $1,459,387 | $2,903,504 |
Minnesota Multi Housing Assn Bloomington, MN | $1,831,730 | $2,659,160 |
Lake Holiday Property Owners Association Inc Somonauk, IL | $7,075,550 | $2,253,751 |
Carr Square Tenant Corporation Saint Louis, MO | $3,519,634 | $1,262,069 |
Platte Lake Property Owners Association Hillman, MN | $0 | $1,817,640 |
Eastern Iowa Regional Housing Corporation Dubuque, IA | $5,116,993 | $1,481,771 |
Home Builders Assn Of Des Moines Johnston, IA | $702,713 | $1,312,598 |