Martin Luther Memorial Home Inc
- Assets
- $8.7m
- Revenue
- $409.3k
- Investments
- $8.2m
- Employees
- 0
- Location
- Superior Township, MI
- Founding
- 03/1966
- Data as of
- 12/2023
- EIN
- 38-6076645
Organization Overview
Martin Luther Memorial Home Inc is located in Superior Township, MI. The organization was established in 1966. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. Martin Luther Memorial Home 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 12/2023, Martin Luther Memorial Home Inc generated $409.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $568.9k during the year ending 12/2023. While expenses have increased by 7.6% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING FOR THE SPIRITUAL NEEDS OF THE ELDERLY IN NURSING HOMES AND ASSISTED LIVING FACILITIES
MARTIN LUTHER COLLEGE - TO PROVIDE FOR THE TRAINING OF FUTURE PASTORS AND TEACHERS
WISCONSIN LUTHERAN SEMINARY - TO PROVIDE FOR THE TRAINING OF FUTURE PASTORS
WTCM-AM - TO PROVIDE FOR THE TRAINING OF FUTURE PASTORS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Watts President/ce | 0 | $0 | |
Tim Benecke Treasurer | 0 | $0 | |
Michael Bater Secretary | 0 | $0 | |
Edward G Zell Chairman | 0 | $0 | |
Thomas Schroeder Board Member | 0 | $0 | |
Samuel Korth Board Member | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $930 |
| Interest on Savings | $13,575 |
| Dividends & Interest | $212,256 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $178,791 |
| Capital Gain Net Income | $178,791 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,758 |
| Total Revenue | $409,310 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,400 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $24,154 |
| Printing and publications | $0 |
| Other expenses | $534,329 |
| Total operating and administrative expenses | $568,883 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $568,883 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,006 |
| Savings and temporary cash investments | $184,288 |
| Net Accounts receivable | $250,000 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,060 |
| Total assets | $8,715,228 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |