Lutheran Homes Of South Carolina Foundation Inc
- Assets
- $48.9m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Irmo, SC
- Founding
- 10/1942
- Data as of
- 09/2023
- EIN
- 57-0342978
Organization Overview
Lutheran Homes Of South Carolina Foundation Inc is located in Irmo, SC. The organization was established in 1942. According to its NTEE Classification (P11) the organization is classified as: Single Organization Support, 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. Lutheran Homes Of South Carolina Foundation 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 09/2023, Lutheran Homes Of South Carolina Foundation Inc generated $4.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $2.6m during the year ending 09/2023. While expenses have increased by 2.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE MINISTRY OF LUTHERAN HOMES OF SOUTH CAROLINA, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENT GRANT PROGRAM THE FOUNDATION'S RESIDENT GRANT PROGRAM SUBSIDIZED THE CARE OF 20 OLDER RESIDENTS, HOSPICE PATIENTS AND BEWELL CLIENTS SERVED BY LUTHERAN HOMES OF SC, INC. WHO DID NOT HAVE THE RESOURCES TO PAY THE FULL COST OF THEIR CARE.
ADDITIONAL COSTS RELATED TO PROGRAM SUPPORT AND SALARIES
CAPITAL PURCHASE FUNDINGTHE FOUNDATION FUNDS CAPITAL PURCHASES FOR THE FIVE LUTHERAN HOMES OF SC, INC. COMMUNITIES, BEWELL HOME SERVICES AND LUTHERAN HOSPICE TO ENHANCE AND EXPAND THE SERVICES PROVIDED TO RESIDENTS, CLIENTS, AND HOSPICE PATIENTS.
CONTRIBUTIONSTHE FOUNDATION RECEIVES ALL CONTRIBUTIONS FOR THE VARIOUS MINISTRIES OF LUTHERAN HOMES OF SC, INC. AND IMMEDIATELY TRANSFERS UP TO $5,000 OF EACH UNRESTRICTED CONTRIBUTION TO THE DESIGNATED MINISTRY TO ENHANCE THE SERVICES AND QUALITY OF CARE PROVIDED TO RESIDENT OR HOSPICE PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Balling Board Member | Trustee | 1 | $0 |
Susan Boland Chair | Trustee | 1 | $0 |
Michael W Boliek Board Member | Trustee | 1 | $0 |
Rev Dr Richard R Campbell Sr Secretary | Trustee | 1 | $0 |
Cf Carter IV Board Member | Trustee | 1 | $0 |
Carolyn Donges Vice Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $16,300 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $605,369 |
| Noncash contributions included in lines 1a–1f | $12,604 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $621,669 |
| Total Program Service Revenue | $0 |
| Investment income | $1,612,084 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,500 |
| Net Gain/Loss on Asset Sales | $1,790,106 |
| Net Income from Fundraising Events | -$6,058 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,026,901 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,010,622 |
| 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. | $278,163 |
| Compensation of current officers, directors, key employees. | $115,982 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $140,351 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $64,800 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,702 |
| Information technology | $18,535 |
| Royalties | $0 |
| Occupancy | $102 |
| Travel | $8,106 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,088 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,622 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,571,201 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,309,808 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,706 |
| Net Land, buildings, and equipment | $17,222 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $38,375,954 |
| Intangible assets | $0 |
| Other assets | $9,220,813 |
| Total assets | $48,931,503 |
| Accounts payable and accrued expenses | $44,499 |
| 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 | $66,934 |
| Total liabilities | $111,433 |
| Net assets without donor restrictions | $23,574,171 |
| Net assets with donor restrictions | $25,245,899 |
| 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 | $48,931,503 |