Faith Lutheran Home
- Assets
- $4.6m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 109
- Location
- Osage, IA
- Founding
- 11/1961
- Data as of
- 12/2021
- EIN
- 42-0896119
Organization Overview
Faith Lutheran Home is located in Osage, IA. The organization was established in 1961. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. As of 12/2021, Faith Lutheran Home employed 109 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Faith Lutheran Home 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, Faith Lutheran Home generated $5.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $5.4m during the year ending 12/2021. While expenses have increased by 3.6% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A FACILITY WHICH HAS A PLEASANT AND HOME-LIKE ATMOSPHERE AND ALSO PROVIDE AND MADE AVAILABLE AN ENRICHING PROGRAM OF SERVICES THAT APPLY TO THE NEEDS OF THE RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAITH LUTHERAN HOME CORPORATION PROVIDES HOUSING AND NECESSARY MEDICAL CARE FOR INDIVIDUALS REQUIRING NURSING HOME CARE. THEY ALSO PROVIDE ASSISTED LIVING FOR THE ELDERLY AND DISABLED PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Halbach Administrato | Officer | 40 | $79,792 |
Hunter Laurtisen Prior Admini | Officer | 40 | $25,083 |
Jim Moody Vice Preside | OfficerTrustee | 1 | $0 |
Dale Tabbert Treasurer | OfficerTrustee | 1 | $0 |
Leanna Troge President | OfficerTrustee | 1 | $0 |
Paul Bodtke Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grapetree Medical Staffing Inc Temp Nursing | 12/30/21 | $213,179 |
Bluestone Therapy Therapy | 12/30/21 | $461,195 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $775,833 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,551 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $795,384 |
| Total Program Service Revenue | $4,344,078 |
| Investment income | $28,523 |
| 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 | $5,533,666 |
| 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. | $104,875 |
| Compensation of current officers, directors, key employees. | $104,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,031,335 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $625,910 |
| Payroll taxes | $169,063 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| 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 | $66,476 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $182,117 |
| Insurance | $0 |
| All other expenses | $171,616 |
| Total functional expenses | $5,392,768 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $832,478 |
| Savings and temporary cash investments | $684,613 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $628,860 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,000 |
| Prepaid expenses and deferred charges | $14,487 |
| Net Land, buildings, and equipment | $2,448,094 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,614,532 |
| Accounts payable and accrued expenses | $495,330 |
| 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 | $1,635,961 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $530,276 |
| Total liabilities | $2,661,567 |
| Net assets without donor restrictions | $1,939,360 |
| Net assets with donor restrictions | $13,605 |
| 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 | $4,614,532 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Faith Lutheran Home has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
First Citizens National Bank Charitable Foundation Inc Mason City, IA PURPOSE: BOILERSYSTEM | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Veap Inc Bloomington, MN | $8,119,973 | $16,891,199 |
Good Neighbor Society Manchester, IA | $17,383,047 | $14,618,459 |
Our Lady Of Angels Retirement Home Joliet, IL | $4,374,771 | $9,679,285 |
Mount St Joseph Lake Zurich, IL | $18,625,069 | $8,392,155 |
Fabricators & Manufacturers Association International Elgin, IL | $36,664,883 | $10,492,496 |
St Josephs Home Of Springfield Springfield, IL | $6,765,138 | -$5,947,093 |
Plain Church Medical Group Inc Arthur, IL | $1,903,756 | $9,584,459 |
Lutheran Home For The Aged Development Corp Prairie View Luth Danforth, IL | $5,765,834 | $9,143,268 |
Holy Spirit Retirement Home Inc Sioux City, IA | $7,907,297 | $9,080,099 |
Brahmananda Saraswati Yagya Foundation Fairfield, IA | $15,294,355 | $10,246,793 |
Ssm Health Foundation St Louis St Louis, MO | $35,477,442 | $11,468,412 |
St Francis Home Breckenridge, MN | $31,134,827 | $7,139,521 |