Virginia Lutheran Homes Inc
- Assets
- $83.7m
- Revenue
- $28.6m
- Investments
- $0.0
- Employees
- 447
- Location
- Roanoke, VA
- Founding
- 08/1963
- Data as of
- 12/2021
- EIN
- 54-0852697
Organization Overview
Virginia Lutheran Homes Inc is located in Roanoke, VA. The organization was established in 1963. 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 12/2021, Virginia Lutheran Homes Inc employed 447 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Virginia Lutheran Homes 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 12/2021, Virginia Lutheran Homes Inc generated $28.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $24.0m during the year ending 12/2021. While expenses have increased by 1.5% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING LIFE-ENRICHING SERVICES THAT PROMOTE WELL-BEING AND BUILD COMMUNITY.
Describe the Organization's Program Activity:
VIRGINIA LUTHERAN HOMES, INC. PROVIDES HOUSING AND HEALTH CARE SERVICES TO OVER 500 ELDERLY AND/OR HANDICAPPED INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather L Neff President & CEO | Officer | 32 | $329,088 |
Ben Burks Executive Director | Officer | 40 | $217,664 |
Gary Ventola CFO | Officer | 32 | $179,528 |
Charles Downs VP Operations | Officer | 40 | $153,756 |
Christi Nicely Director Of Rehabilitation | 40 | $130,049 | |
Natalie Wynegar Nursing Administrator | 40 | $124,935 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lionberger Construction Construction | 12/30/16 | $2,718,778 |
Sodexo Management Services | 12/30/16 | $1,737,641 |
Gss Computer Technology Computer Consulting | 12/30/16 | $194,204 |
Comfort Systems Usa Hvac Servicing | 12/30/16 | $173,489 |
Joel Martinez Painting | 12/30/16 | $152,912 |
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 | $588,531 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $588,531 |
| Total Program Service Revenue | $20,716,064 |
| Investment income | $216,328 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$24,227 |
| Net Gain/Loss on Asset Sales | $1,298,892 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,580,430 |
| 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. | $550,840 |
| Compensation of current officers, directors, key employees. | $550,840 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,299,942 |
| Pension plan accruals and contributions | $273,259 |
| Other employee benefits | $1,521,138 |
| Payroll taxes | $719,719 |
| Fees for services: Management | $128,580 |
| Fees for services: Legal | $14,109 |
| Fees for services: Accounting | $56,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $62,081 |
| Fees for services: Other | $108,305 |
| Advertising and promotion | $213,999 |
| Office expenses | $232,119 |
| Information technology | $446,565 |
| Royalties | $0 |
| Occupancy | $1,030,237 |
| Travel | $14,839 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $646,559 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,687,620 |
| Insurance | $437,863 |
| All other expenses | $405,843 |
| Total functional expenses | $23,984,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,949 |
| Savings and temporary cash investments | $8,061,300 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,439,415 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $33,333 |
| Prepaid expenses and deferred charges | $1,272,992 |
| Net Land, buildings, and equipment | $53,520,698 |
| Investments—publicly traded securities | $17,159,903 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,217,781 |
| Total assets | $83,707,371 |
| Accounts payable and accrued expenses | $1,526,749 |
| Grants payable | $0 |
| Deferred revenue | $22,417,121 |
| 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 | $53,393,863 |
| Unsecured mortgages and notes payable | $207,793 |
| Other liabilities | $16,311,988 |
| Total liabilities | $93,857,514 |
| Net assets without donor restrictions | -$11,961,067 |
| Net assets with donor restrictions | $1,810,924 |
| 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 | $83,707,371 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Virginia Lutheran Homes Inc has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $8,908,021 |
| Earnings | $710,055 |
| Net Contributions | $588,437 |
| Other Expense | $89,115 |
| Ending Balance | $10,117,398 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
King Farm Presbyterian Retirement Rockville, MD | $301,432,870 | $34,783,503 |
Arbor Acres United Methodist Retirement Community Inc Winstonsalem, NC | $155,220,604 | $40,394,713 |
Chapel Hill Residential Retirement Center Inc Chapel Hill, NC | $120,640,930 | $31,949,437 |
Stoddard Baptist Global Care Washington, DC | $21,239,255 | $34,652,539 |
Carolina Village Inc Hendersonville, NC | $124,169,436 | $34,185,742 |
Galloway Ridge Inc Pittsboro, NC | $130,866,786 | $36,150,184 |
Kenton Housing Inc Latonia, KY | $68,380,829 | $31,745,821 |
Village At Orchard Ridge Inc Frederick, MD | $155,766,299 | $22,895,299 |
Virginia Lutheran Homes Inc Roanoke, VA | $83,707,371 | $28,580,430 |
The Lutheran Village At Millers Grant Inc Westminster, MD | $146,336,066 | $23,586,793 |
Mercy Ridge Inc Timonium, MD | $148,105,442 | $23,349,399 |
Maryland Masonic Homes Ltd Cockeysville, MD | $7,522,127 | $24,357,243 |