Virginia Lutheran Homes Inc
- Assets
- $79.5m
- Revenue
- $23.1m
- Investments
- $0.0
- Employees
- 474
- Location
- Roanoke, VA
- Founding
- 08/1963
- Data as of
- 12/2022
- EIN
- 54-0852697
Organization Overview
Virginia Lutheran Homes Inc is located in Roanoke, VA. The organization was established in 1963. 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 12/2022, Virginia Lutheran Homes Inc employed 474 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Virginia Lutheran Homes 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 12/2022, Virginia Lutheran Homes Inc generated $23.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $25.6m during the year ending 12/2022. While expenses have increased by 2.1% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING LIFE-ENRICHING SERVICES THAT PROMOTE WELL-BEING AND BUILD COMMUNITY.
Describe the Organization's Program Activity:
VIRGINIA LUTHERAN HOMES, INC. PROVIDES HOUSING AND HEALTH CARE SERVICES TO OVER 500 ELDERLY AND/OR HANDICAPPED INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marie Malinchak Chair | OfficerTrustee | 2 | $0 |
Nancy K Overstreet Vice Chair | OfficerTrustee | 2 | $0 |
Rev K David Skole Secretary | OfficerTrustee | 2 | $0 |
Rev James Armentrout Director | Trustee | 2 | $0 |
George N Arthur Director | Trustee | 2 | $0 |
Allen Blackwood Jr Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lionberger Construction Construction | 12/30/16 | $2,718,778 |
Sodexo Management Services | 12/30/16 | $1,737,641 |
Gss Computer Technology Computer Consulting | 12/30/16 | $194,204 |
Joel Martinez Painting | 12/30/16 | $152,912 |
Comfort Systems Usa Hvac Servicing | 12/30/16 | $173,489 |
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 | $117,595 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $117,595 |
| Total Program Service Revenue | $22,826,839 |
| Investment income | $256,068 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$35,628 |
| Net Gain/Loss on Asset Sales | -$170,522 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,132,668 |
| 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. | $567,632 |
| Compensation of current officers, directors, key employees. | $567,632 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,496,764 |
| Pension plan accruals and contributions | $297,995 |
| Other employee benefits | $1,572,669 |
| Payroll taxes | $779,907 |
| Fees for services: Management | $86,427 |
| Fees for services: Legal | $17,109 |
| Fees for services: Accounting | $51,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $73,646 |
| Fees for services: Other | $492,599 |
| Advertising and promotion | $200,284 |
| Office expenses | $43,777 |
| Information technology | $240,794 |
| Royalties | $0 |
| Occupancy | $1,010,425 |
| Travel | $15,500 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $969,152 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,747,682 |
| Insurance | $475,913 |
| All other expenses | $0 |
| Total functional expenses | $25,551,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$593,414 |
| Savings and temporary cash investments | $18,414,391 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $820,175 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $33,333 |
| Prepaid expenses and deferred charges | $1,173,704 |
| Net Land, buildings, and equipment | $56,597,847 |
| Investments—publicly traded securities | $1,608,577 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,454,643 |
| Total assets | $79,509,256 |
| Accounts payable and accrued expenses | $1,320,049 |
| Grants payable | $0 |
| Deferred revenue | $39,342,467 |
| Tax-exempt bond liabilities | $39,077,796 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,914,405 |
| Unsecured mortgages and notes payable | $167,236 |
| Other liabilities | -$6,151,259 |
| Total liabilities | $86,670,694 |
| Net assets without donor restrictions | -$8,534,370 |
| Net assets with donor restrictions | $1,372,932 |
| 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 | $79,509,256 |