Salem Lutheran Homes Charitable Foundation
- Assets
- $919.8k
- Revenue
- $82.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Elk Horn, IA
- Founding
- 07/1989
- Data as of
- 12/2021
- EIN
- 42-1306694
Organization Overview
Salem Lutheran Homes Charitable Foundation is located in Elk Horn, IA. The organization was established in 1989. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salem Lutheran Homes Charitable Foundation 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, Salem Lutheran Homes Charitable Foundation generated $82.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (18.4%) each year. All expenses for the organization totaled $22.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (31.8%) per year over the past 7 years. 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
SUPPORT THE ACTIVITIES OF SALEM LUTHERAN NURSING HOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE FOUNDATION IS FOR CHARITABLE & RELIGIOUS PURPOSES, INCLUDING ASSISTING & BENEFITTING SALEM LUTHERAN HOMES AND OTHER LUTHERAN CHARITABLE AND RELIGIOUS CORPORATIONS IN CARRYING OUT THEIR PURPOSES, PARTICULARLY THE PROVIDING OF CARE TO THE ELDERLY AND THE DISABLED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nikki Myers Treasurer | OfficerTrustee | 1 | $0 |
Deb Bieker President | OfficerTrustee | 1 | $0 |
Ron Rasmussen Vice President | OfficerTrustee | 1 | $0 |
Barbara Petersen Director | Trustee | 1 | $0 |
Keli Hansen Director | Trustee | 1 | $0 |
Justin Larsen Director | Trustee | 1 | $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 | $3,238 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,238 |
| Total Program Service Revenue | $0 |
| Investment income | $39,501 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $39,897 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $82,636 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,500 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,172 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $22,672 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $34,057 |
| 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 | $6,192 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $27,055 |
| Investments—publicly traded securities | $852,493 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $919,797 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $919,797 |
| 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 | $919,797 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Salem Lutheran Homes Charitable Foundation has recieved totaling $32.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $32 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mount Olivet Home Minneapolis, MN | $14,203,856 | $10,469,353 |
Ascension Living Via Christi Village Pittsburg St Louis, MO | $8,270,696 | $8,815,942 |
Apostolic Christian Home Peoria, IL | $13,378,426 | $10,165,137 |
Christian Home And Rehabilitation Center Inc Waupun, WI | $28,972,064 | $5,970,205 |
Bethel Home Inc Oshkosh, WI | $6,892,854 | $10,385,483 |
Village North Inc Saint Louis, MO | $7,100,790 | $9,993,048 |
Good Samaritan Independent Living Inc Valley Park, MO | $42,541,583 | $10,264,550 |
Ascension Living Via Christi Village Ponca City St Louis, MO | $6,026,969 | $7,789,601 |
Evangelical Retirement Homes Inc Edina, MN | $16,494,150 | $10,166,714 |
Little Sisters Of The Poor Chicago Inc Chicago, IL | $8,092,895 | $10,195,607 |
St Marks Lutheran Home Austin, MN | $10,818,407 | $9,006,197 |
Little Sisters Of The Poor Of St Paul St Paul, MN | $11,125,727 | $9,070,250 |