Lourdes Inc
- Assets
- $28.6m
- Revenue
- $12.3m
- Investments
- $0.0
- Employees
- 189
- Location
- Waterford, MI
- Founding
- 03/1946
- Data as of
- 12/2021
- EIN
- 38-1789460
Organization Overview
Lourdes Inc, operating under the name Lourdes Rehabilitation And Healthcare Center, is located in Waterford, MI. The organization was established in 1946. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 12/2021, Lourdes Rehabilitation And Healthcare Center employed 189 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Lourdes Rehabilitation And Healthcare Center 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, Lourdes Rehabilitation And Healthcare Center generated $12.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $11.1m during the year ending 12/2021. 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
OPERATION OF A 100-BED SKILLED NURSING FACILITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A 100-BED SKILLED NURSING FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Acho CFO | Officer | 10 | $209,269 |
Maureen Mcgee Administrator | 40 | $128,190 | |
Judith Murray Director Of Nursing | 40 | $119,098 | |
Rebecca Latta Hi Director | 40 | $104,256 | |
Sister Maureen Comer Op President/ceo | OfficerTrustee | 10 | $0 |
Brian Condit Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Select Rehabilitation Llc Resident Therapy Services | 12/30/21 | $876,174 |
Dominican Sisters Of Adrian Management Services | 12/30/21 | $219,696 |
Albaugh Masonry Stone And Tile Llc Masonry Construction Work | 12/30/21 | $200,297 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,929,482 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,143 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,930,625 |
| Total Program Service Revenue | $10,302,267 |
| Investment income | $35,734 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,366 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,264,129 |
| 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. | $227,487 |
| Compensation of current officers, directors, key employees. | $227,487 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,911,427 |
| Pension plan accruals and contributions | $23,545 |
| Other employee benefits | $503,822 |
| Payroll taxes | $323,838 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,762 |
| Fees for services: Accounting | $43,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,465,130 |
| Advertising and promotion | $38,758 |
| Office expenses | $992,141 |
| Information technology | $101,024 |
| Royalties | $0 |
| Occupancy | $338,823 |
| Travel | $983 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $602 |
| Interest | $304,969 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $938,622 |
| Insurance | $74,069 |
| All other expenses | $4,200 |
| Total functional expenses | $11,123,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $617,137 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $757,846 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $74,546 |
| Prepaid expenses and deferred charges | $162,110 |
| Net Land, buildings, and equipment | $24,909,636 |
| Investments—publicly traded securities | $1,999,851 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $77,128 |
| Total assets | $28,598,454 |
| Accounts payable and accrued expenses | $5,425,187 |
| Grants payable | $0 |
| Deferred revenue | $1,300 |
| Tax-exempt bond liabilities | $13,930,988 |
| 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 | $986,902 |
| Total liabilities | $20,344,377 |
| Net assets without donor restrictions | $8,254,077 |
| 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 | $28,598,454 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Lourdes Inc has recieved totaling $22,064.
| Awarding Organization | Amount |
|---|---|
Serra Family Foundation Grand Blanc, MI PURPOSE: GENERAL USE | $15,000 |
Hudson-Webber Foundation Detroit, MI PURPOSE: MEETING RESERVE | $7,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $64 |
Endowment Analysis
Peer Organizations
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|---|---|---|
Lutheran Homes Of Michigan Inc Saginaw, MI | $57,940,344 | $38,263,375 |
The Montefiore Home Beachwood, OH | $34,596,808 | $25,002,473 |
Jennings Center For Older Adults Garfield Heights, OH | $56,940,447 | $33,313,522 |
The Lutheran Home Inc Wauwatosa, WI | $32,526,623 | $29,348,190 |
Grace Lutheran Foundation Inc Eau Claire, WI | $34,935,456 | $25,987,857 |
Westminster Village North Inc Indianapolis, IN | $65,231,339 | $24,703,425 |
Uvmc Nursing Care Inc Dayton, OH | $28,595,230 | $22,808,264 |
Jewish Home And Care Center Inc Milwaukee, WI | $33,036,142 | $18,800,726 |
Marwood Manor Nursing Home Port Huron, MI | $35,416,366 | $24,316,598 |
Bethany-St Joseph Corp La Crosse, WI | $31,103,859 | $21,334,588 |
Indianapolis Jewish Home Inc Hooverwood Indianapolis, IN | $50,044,251 | $22,178,302 |
Botsford Continuing Care Corporation Southfield, MI | $28,554,348 | $16,692,642 |