Lutheran Retirement Home Inc
- Assets
- $9.4m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 102
- Location
- Northwood, IA
- Founding
- 11/1961
- Data as of
- 12/2021
- EIN
- 42-0807185
Organization Overview
Lutheran Retirement Home Inc is located in Northwood, IA. The organization was established in 1961. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Lutheran Retirement Home Inc employed 102 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Lutheran Retirement Home 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 12/2021, Lutheran Retirement Home Inc generated $4.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $4.6m during the year ending 12/2021. While expenses have increased by 0.7% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
LUTHERAN RETIREMENT HOME IS A CHRISTIAN BASED CONTINUUM OF SERVICE ENRICHING LIVES BY PROVIDING CARE AND COMPASSION TO OUR RESIDENTS AND OUR COMMUNITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
LUTHERAN RETIREMENT HOME PROVIDES SKILLED, INTERMEDIATE LEVELS OF CARE, AND ASSISTED LIVING FOR THE ELDERLY AND DISABLED PEOPLE IN THE NURSING HOME AND LEASE APARTMENTS TO THE ELDERLY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Shell Administrato | Officer | 40 | $47,254 |
Jerry Brunsvold Board Presid | OfficerTrustee | 1 | $0 |
Ron Christianson Vice Preside | OfficerTrustee | 1 | $0 |
Lynn Davis Treasurer | OfficerTrustee | 1 | $0 |
Barry Eustice Director | Trustee | 1 | $0 |
Mike Kennedy Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grapetree Medical Staffing Temp Nursing | 12/30/20 | $107,366 |
Larson Plumbing & Heating Plumbing | 12/30/20 | $101,141 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $328,319 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,415 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $335,734 |
| Total Program Service Revenue | $3,752,514 |
| Investment income | $480,641 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $77 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,608,086 |
| 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 | $2,405,774 |
| Pension plan accruals and contributions | $26,747 |
| Other employee benefits | $455,732 |
| Payroll taxes | $178,556 |
| 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 | $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 | $64,411 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $234,320 |
| Insurance | $0 |
| All other expenses | $570 |
| Total functional expenses | $4,570,430 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $246,540 |
| Savings and temporary cash investments | $387,023 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $98,033 |
| 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 | $15,000 |
| Net Land, buildings, and equipment | $4,139,901 |
| Investments—publicly traded securities | $4,518,752 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $14,673 |
| Other assets | $0 |
| Total assets | $9,419,922 |
| Accounts payable and accrued expenses | $92,032 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $1,090,486 |
| 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 | $287,673 |
| Total liabilities | $1,470,191 |
| Net assets without donor restrictions | $7,949,731 |
| 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 | $9,419,922 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minnesota Odd Fellows Home Inc Northfield, MN | $22,867,310 | $19,456,798 |
Oakwood Village Prairie Ridge Homes Inc Madison, WI | $61,014,266 | $15,535,778 |
Volunteers Of America Inc Eden Prairie, MN | $8,598,450 | $19,135,120 |
Friends Of Faith Retirement Homes Inc Waterloo, IA | $88,184,689 | $24,765,907 |
Lewis Memorial Christian Village St Louis, MO | $48,381,888 | $18,539,239 |
Phs Cottage Grove Inc Roseville, MN | $59,058,430 | $15,462,606 |
Evans Park Inc Elk River, MN | $42,762,027 | $16,308,522 |
Volunteers Of America Inc Eden Prairie, MN | $2,912,114 | $17,645,281 |
Fairhaven Christian Home Rockford, IL | $28,131,692 | $15,992,551 |
Carondelet Village Inc Roseville, MN | $51,351,409 | $15,659,631 |
Villa St Benedict Lisle, IL | $63,409,322 | $15,184,886 |
Bethesda Senior Living Inc St Louis, MO | $51,618,462 | $21,887,696 |