Lutheran Retirement Ministries Of Alamance County North Carolina
- Assets
- $212.4m
- Revenue
- $46.9m
- Investments
- $0.0
- Employees
- 637
- Location
- Burlington, NC
- Founding
- 05/1981
- Data as of
- 09/2023
- EIN
- 56-1270984
Organization Overview
Lutheran Retirement Ministries Of Alamance County North Carolina, operating under the name Twin Lakes Community, is located in Burlington, NC. The organization was established in 1981. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, under the broad grouping of Housing & Shelter and related organizations. As of 09/2023, Twin Lakes Community employed 637 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Twin Lakes Community 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 09/2023, Twin Lakes Community generated $46.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $44.1m during the year ending 09/2023. While expenses have increased by 7.1% per year over the past 8 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.
Since 2015, Twin Lakes Community has awarded 40 individual grants totaling $928,175. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE COMPREHENSIVE RESIDENTIAL, SOCIAL, AND HEALTH RELATED SERVICES TO THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF CONTINUING CARE RETIREMENT COMMUNITY CONSISTING OF 104 NURSING CARE BEDS, 36 ASSISTED LIVING UNITS, 434 APARTMENTS, VILLAS AND GARDEN HOMES, AND 32 MEMORY CARE ASSISTED LIVING BEDS. THE NURSING FACILITY PROVIDES SERVICES TO RESIDENTS THROUGH BOTH MEDICARE AND MEDICAID. THE FACILITY ALSO PROVIDES REHABILITATIVE SERVICES INCLUDING PHYSICAL THERAPY, SPEECH THERAPY AND OCCUPATIONAL THERAPY. THIS CONTINUING CARE RETIREMENT COMMUNITY ALSO PROVIDES ADULT DAY CARE AND HOME CARE SERVICES. PARKINSON'S SUPPORT AND CAREGIVER'S SUPPORT IS AVAILABLE ALONG WITH SERVICES FOR OLDER ADULTS WITH DEVELOPMENTALLY DISABLED ADULT CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jackie S Cole Board Chair | OfficerTrustee | 2 | $0 |
Anthony E Foriest Vice Chair | OfficerTrustee | 2 | $0 |
Danny Craig Van Fleet Treasurer | OfficerTrustee | 2 | $0 |
Joy Isley Secretary | OfficerTrustee | 2 | $0 |
Alison Upton Board Member | Trustee | 1 | $0 |
David Koester Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ray A Whitesell Contracting Llc Building Renovations | 9/29/23 | $1,773,992 |
Landmark Builders Inc Building Renovations | 9/29/23 | $461,144 |
Ruston Paving Company Inc Road/parking Paving | 9/29/23 | $396,250 |
Dh Griffin Wrecking Co Inc Coble Creek Demolition | 9/29/23 | $196,000 |
Amplified Electronic Designs Inc Electronic Equipment/maintenance | 9/29/23 | $148,512 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,118,623 |
| All other contributions, gifts, grants, and similar amounts not included above | $267,460 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,386,083 |
| Total Program Service Revenue | $40,516,319 |
| Investment income | $623,844 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,215 |
| Net Gain/Loss on Asset Sales | $360,822 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,915,283 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $142,723 |
| Grants and other assistance to domestic individuals. | $1,749,349 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $666,449 |
| Compensation of current officers, directors, key employees. | $666,449 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,177,431 |
| Pension plan accruals and contributions | $461,509 |
| Other employee benefits | $2,066,785 |
| Payroll taxes | $1,243,396 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,511 |
| Fees for services: Accounting | $103,366 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $115,256 |
| Fees for services: Other | $1,305,359 |
| Advertising and promotion | $123,529 |
| Office expenses | $2,765,851 |
| Information technology | $455,259 |
| Royalties | $0 |
| Occupancy | $1,760,002 |
| Travel | $32,019 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,465,980 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,804,858 |
| Insurance | $1,187,282 |
| All other expenses | $0 |
| Total functional expenses | $44,065,773 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $21,772,168 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,880,724 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $369,027 |
| Prepaid expenses and deferred charges | $41,719 |
| Net Land, buildings, and equipment | $158,729,938 |
| Investments—publicly traded securities | $20,266,496 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,290,481 |
| Total assets | $212,350,553 |
| Accounts payable and accrued expenses | $7,236,082 |
| Grants payable | $0 |
| Deferred revenue | $64,418,522 |
| Tax-exempt bond liabilities | $74,747,348 |
| 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 | $146,401,952 |
| Net assets without donor restrictions | $61,153,967 |
| Net assets with donor restrictions | $4,794,634 |
| 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 | $212,350,553 |
Grants Awarded
Over the last fiscal year, Lutheran Retirement Ministries Of Alamance County North Carolina has awarded $118,746 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
LUTHERAN SERVICES IN AMERICA PURPOSE: ANNUAL GIFT | $10,000 |
TOWN OF ELON PURPOSE: CONTRIBUTION TO COST OF PROVIDING FIRE AND EMERGENCY RESPONSE. | $56,000 |
ALAMANCE COMMUNITY COLLEGE FOUNDATION PURPOSE: ANNUAL GIFT | $12,500 |
MEALS ON WHEELS OF ALAMANCE COUNTY PURPOSE: LANES OF LIGHT PROCEEDS/CAMPAIGN GIFT | $32,623 |
SALVATION ARMY PURPOSE: LANES OF LIGHT PROCEEDS | $7,623 |