Lb Homes Foundation Inc
- Assets
- $125.0k
- Revenue
- $143.5k
- Investments
- $106.4k
- Employees
- 0
- Location
- Fergus Falls, MN
- Founding
- 03/2007
- Data as of
- 04/2021
- EIN
- 20-4760841
Organization Overview
Lb Homes Foundation Inc is located in Fergus Falls, MN. The organization was established in 2007. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lb Homes Foundation 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 04/2021, Lb Homes Foundation Inc generated $143.5k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $271.6k during the year ending 04/2021. 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
THE PURPOSE OF LB HOMES FOUNDATION IS TO PROVIDE COMPASSIONATE, EMOTIONAL, SPIRITUAL, AND QUALITY HEALTHCARE TO EACH PATIENT, PROMOTING INDEPENDENCE, COMFORT, AND DISGINTY IN ALL STAGES OF LIFE'S JOURNEY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE LB HOMES FOUNDATION IS TO RAISE, MANAGE, PROTECT, AND DISTRIBUTE FUNDS TO SUPPORT HOSPICE PATIENTS SO THAT EVERY PATIENT WHO MAY NEED US CAN BE CARED FOR IN THEIR END-OF-LIFE JOURNEY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Moline Vice Chair | Officer | 0.5 | $0 |
Leland Rogness Chairman | Officer | 1 | $0 |
Ron Fuhrman Secretary | Officer | 1 | $0 |
Paul Larson Director | Trustee | 0.5 | $0 |
Gaylord Golden Director | Trustee | 0.5 | $0 |
John Austin Director | Trustee | 0.5 | $0 |
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 | $126,585 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $126,585 |
| Total Program Service Revenue | $0 |
| Investment income | $16,957 |
| 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 | $143,542 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $244,471 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,919 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $271,619 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,653 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $106,370 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $125,023 |
| Accounts payable and accrued expenses | $125 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $125 |
| Net assets without donor restrictions | $124,640 |
| Net assets with donor restrictions | $258 |
| 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 | $125,023 |
Grants Awarded
Over the last fiscal year, Lb Homes Foundation Inc has awarded $244,471 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Fergus Falls, MN PURPOSE: PROMOTE HOME HEALTH AND HOSPICE SERVICE | $238,662 |
Fergus Falls, MN PURPOSE: PROMOTE NURSING AND ASSISTED LIVING CARE FOR THE ELDERLY | $5,809 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lb Homes Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
West Central Initiative Fergus Falls, MN PURPOSE: HOSPICE | $10,000 |
Endowment Analysis
| Beg. Balance | $69,259 |
| Ending Balance | $69,259 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Childserve Foundation Inc Johnston, IA | $15,317,194 | $6,918,113 |
Presbyterian Homes Foundation Roseville, MN | $93,078,808 | $19,725,550 |
Iowa Community Action Association Des Moines, IA | $753,837 | $3,823,427 |
Eastern Congo Initiative Minneapolis, MN | $7,833,187 | $4,435,607 |
Re Power Fund Minneapolis, MN | $5,415,294 | $4,322,617 |
American Warrior Initiative Inc Madison, WI | $3,298,583 | $1,806,705 |
The World Orphan Fund Inc Randolph, WI | $777,063 | $1,129,281 |
Sunshine Place Inc Sun Prairie, WI | $2,711,848 | $1,376,571 |
Sheltering Arms Foundation Minneapolis, MN | $14,379,135 | $578,208 |
Big T Foundation Lakeville, MN | $11,785 | $483,542 |
Sioux Falls Hope Coalition Sioux Falls, SD | $1,074,906 | $918,262 |
Foundation For Essential Needs Minneapolis, MN | $452,815 | $582,063 |