Faith Lutheran Home
- Assets
- $3.8m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 124
- Location
- Osage, IA
- Founding
- 11/1961
- Data as of
- 12/2023
- 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 12/2023, Faith Lutheran Home employed 124 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 12/2023, Faith Lutheran Home generated $6.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $6.1m during the year ending 12/2023. While expenses have increased by 4.3% per year over the past 9 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
2023
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 LUTHERN 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 |
|---|---|---|---|
Leanna Troge President | OfficerTrustee | 1 | $0 |
Mark Penny Vice President | OfficerTrustee | 1 | $0 |
Dale Tobbert Treasurer | OfficerTrustee | 1 | $0 |
Nancy Klemesrud Director | Trustee | 1 | $0 |
Bob Klemesrud Director | Trustee | 1 | $0 |
Bonnie Blake Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grapetree Medical Staffing Inc Temp Nursing | 12/30/22 | $541,645 |
Bluestone Therapy Therapy | 12/30/22 | $435,791 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $402,733 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,749 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $436,482 |
| Total Program Service Revenue | $5,549,953 |
| Investment income | $4,742 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $200 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,991,377 |
| 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. | $135,463 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,353,680 |
| Pension plan accruals and contributions | $38,887 |
| Other employee benefits | $448,858 |
| Payroll taxes | $223,480 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $650 |
| Fees for services: Accounting | $51,728 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,074,668 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $238,884 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $50,725 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $178,639 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,139,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $340,423 |
| Savings and temporary cash investments | $856,657 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $281,731 |
| 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 | $10,843 |
| Net Land, buildings, and equipment | $2,284,816 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,739 |
| Total assets | $3,796,209 |
| Accounts payable and accrued expenses | $710,231 |
| 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 | $1,528,223 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $511,907 |
| Total liabilities | $2,750,361 |
| Net assets without donor restrictions | $1,036,243 |
| Net assets with donor restrictions | $9,605 |
| 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 | $3,796,209 |