Lutheran Senior Services Inc
- Assets
- $18.2m
- Revenue
- $18.6m
- Investments
- $0.0
- Employees
- 15
- Location
- Wilmington, DE
- Founding
- 03/1968
- Data as of
- 12/2023
- EIN
- 51-6021992
Organization Overview
Lutheran Senior Services Inc is located in Wilmington, DE. The organization was established in 1968. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Lutheran Senior Services Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lutheran Senior Services 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, Lutheran Senior Services Inc generated $18.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 18.6% each year . All expenses for the organization totaled $6.1m during the year ending 12/2023. While expenses have increased by 5.8% 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
PROVIDE HOUSING FOR ELDERLY AND HANDICAPPED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE 217 ONE-BEDROOM AND 145 EFFICIENCY APARTMENTS FOR RENT TO THE ELDERLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip J Keller PHD President | OfficerTrustee | 1 | $0 |
John Schneeweis Secretary | OfficerTrustee | 1 | $0 |
W Scott Wycoff PHD Treas./asst. Secretary | OfficerTrustee | 1 | $0 |
Jim Foskett Director | Trustee | 1 | $0 |
Rev Patricia V Wallace - RN Director | Trustee | 1 | $0 |
Kathleen Schell PHD RN Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marcus & Millichap Settlement Brokerage Fee | 12/30/23 | $700,000 |
Allied Universal Sercurity Services Security Services | 12/30/23 | $360,426 |
Chilimidos Construction And Renovation | 12/30/23 | $274,639 |
Wipfli Llp Consulting Services | 12/30/23 | $165,841 |
Prd Management Consulting Services | 12/30/23 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $389,720 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $389,720 |
| Total Program Service Revenue | $4,609,985 |
| Investment income | $718 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,577,323 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,577,746 |
| 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. | $603,730 |
| Compensation of current officers, directors, key employees. | $64,065 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $939,747 |
| Pension plan accruals and contributions | $11,217 |
| Other employee benefits | $106,519 |
| Payroll taxes | $79,466 |
| Fees for services: Management | $120,000 |
| Fees for services: Legal | $28,703 |
| Fees for services: Accounting | $255,341 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $446,216 |
| Advertising and promotion | $12,018 |
| Office expenses | $121,473 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,161,061 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $463,867 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $671,793 |
| Insurance | $251,525 |
| All other expenses | $0 |
| Total functional expenses | $6,105,934 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,447,112 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $31,066 |
| Accounts receivable, net | $53,024 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,080 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $16,595,277 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,160,559 |
| Accounts payable and accrued expenses | $335,317 |
| 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 | $46,011 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $381,328 |
| Net assets without donor restrictions | $17,779,231 |
| 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 | $18,160,559 |