Lutheran Residences Inc
- Assets
- $4.3m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- St Petersburg, FL
- Founding
- 01/1967
- Data as of
- 12/2021
- EIN
- 59-6178232
Organization Overview
Lutheran Residences Inc is located in St Petersburg, FL. The organization was established in 1967. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lutheran Residences 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 Residences Inc generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.2%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (11.2%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE A SENIOR HOUSING ORGANIZATION. OUR MISSION IS TO PROVIDE AFFORDABLE HOUSING AND OTHER SERVICES TO LOW-INCOME ELDERLY PERSONS. LUTHERAN RESIDENCES, INC. OWNS AND OPERATED ONE HUD HOUSING PROJECT (LUTHERAN RESIDENCES OF SOUTH PASADENA).
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE 180 RESIDENTIAL APARTMENT UNITS TO LOW-INCOME QUALIFIED ELDERLY PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bret Meyer Vice President | OfficerTrustee | 1 | $0 |
Theresa Ziegler President | OfficerTrustee | 1 | $0 |
James Geschke Secr/treasurer | OfficerTrustee | 1 | $0 |
Dennis Miller Director | Trustee | 1 | $0 |
Bob Depugh Director | Trustee | 1 | $0 |
Paul Gibson Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Elevation Property Management Management/bookkeep | 12/30/19 | $153,736 |
Tampa Bay Trane Chiller Replacement | 12/30/19 | $274,855 |
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 | $1,101,904 |
| Investment income | $64,558 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,650 |
| 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 | $1,422,922 |
| 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 | $207,949 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,104 |
| Payroll taxes | $19,956 |
| Fees for services: Management | $80,164 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,145 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,503 |
| Office expenses | $64,469 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $281,220 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,254 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,064 |
| Insurance | $119,463 |
| All other expenses | $24,528 |
| Total functional expenses | $1,120,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $321,449 |
| Savings and temporary cash investments | $229,372 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,998 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,648,450 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $91,313 |
| Net Land, buildings, and equipment | $931,754 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $98,121 |
| Total assets | $4,328,457 |
| Accounts payable and accrued expenses | $65,901 |
| Grants payable | $0 |
| Deferred revenue | $2,817 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $93,253 |
| Total liabilities | $161,971 |
| Net assets without donor restrictions | $4,166,486 |
| 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 | $4,328,457 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Andrews Residence Of The Diocese Of Southeast Florida Inc West Palm Beach, FL | $295,539 | $24,065,641 |
Lavender Mountain Senior Living Inc Mount Berry, GA | $141,195,331 | $5,176,789 |
Westminster Pines Inc Orlando, FL | $103,132,021 | $15,458,662 |
Skidaway Health And Living Services Inc Savannah, GA | $89,340,251 | $17,567,308 |
Palm Shores Retirement Community Inc Orlando, FL | $37,421,751 | $16,521,390 |
St George Village-Catholic Community Retirement Center Roswell, GA | $71,436,640 | $13,654,810 |
Wesley Homes Inc Atlanta, GA | $20,385,914 | $13,715,520 |
Tampa Life Plan Village Inc Tampa, FL | $57,175,002 | $4,514,952 |
Jewish Home Life Communities Inc Atlanta, GA | $30,539,364 | $15,353,434 |
Presbyterian Retirement Homes Of Birmingham Inc Birmingham, AL | $21,717,222 | $12,145,816 |
Senior Living Foundation Inc Perimeter 400 Center Dunwoody, GA | $12,804,149 | $11,238,892 |
University Plaza Rehabilitation And Nursing Center Inc N Miami Beach, FL | $4,092,400 | $13,157,641 |