Luke Inc
- Assets
- $251.2m
- Revenue
- $9.5m
- Investments
- $0.0
- Employees
- 299
- Location
- Collierville, TN
- Founding
- 07/2006
- Data as of
- 12/2022
- EIN
- 20-3524338
Organization Overview
Luke Inc is located in Collierville, TN. The organization was established in 2006. 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, Luke Inc employed 299 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Luke 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, Luke Inc generated $9.5m in total revenue. All expenses for the organization totaled $26.4m during the year ending 12/2022. While expenses have increased by 45.9% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LUKE, INC. D/B/A THE FARMS AT BAILEY STATION IS DEDICATED TO PROVIDING RESIDENTS WITH A QUALITY LIFESTYLE IN A QUALITY ENVIRNMENT, SUPPORTING THE CONCEPT OF CONTINUED INDEPENDENCE AS A PRIORITY IN THE LIFE CARE DECISION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDEPENDENT LIVING IN APARTMENTS, GARDEN HOMES, AND OTHER LONG-TERM CARE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr James Latimer Chairman/director | OfficerTrustee | 1 | $0 |
Bill Mcgaughey Vice President | OfficerTrustee | 1 | $0 |
Cindy Cox Director | Trustee | 1 | $0 |
Cindy Reeves Director | Trustee | 1 | $0 |
John Farris Director | Trustee | 1 | $0 |
Rudolf W Herzke President | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gcd Tennessee Llc Owner Direct Purchase | 12/30/22 | $1,174,301 |
Thrifty Building Supply Owner Direct Purchase | 12/30/22 | $669,214 |
Landon Homes General Contractor | 12/30/22 | $620,316 |
Gmsc Of Tennessee Llc Owner Direct Purchase | 12/30/22 | $606,873 |
Magnolia Landscaping Services Landscaping | 12/30/22 | $464,656 |
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 | $8,942,657 |
| Investment income | $534,793 |
| 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 | $9,477,450 |
| 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 | $3,592,861 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $367,348 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $374,370 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,490,625 |
| Advertising and promotion | $808,902 |
| Office expenses | $56,799 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $76,688 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,900,674 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,424,199 |
| Insurance | $0 |
| All other expenses | $803,744 |
| Total functional expenses | $26,356,308 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,140,355 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,249,832 |
| 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 | $43,885 |
| Net Land, buildings, and equipment | $205,112,203 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,627,851 |
| Total assets | $251,174,126 |
| Accounts payable and accrued expenses | $3,354,655 |
| Grants payable | $0 |
| Deferred revenue | $35,107,863 |
| 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 | $561,806 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $246,467,213 |
| Total liabilities | $285,491,537 |
| Net assets without donor restrictions | -$34,317,411 |
| 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 | $251,174,126 |