Lutheran Haven
- Assets
- $45.3m
- Revenue
- $10.1m
- Investments
- $742.0k
- Employees
- 321
- Location
- Oviedo, FL
- Founding
- 03/1949
- Data as of
- 08/2022
- EIN
- 59-0637873
Organization Overview
Lutheran Haven is located in Oviedo, FL. The organization was established in 1949. 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. As of 08/2022, Lutheran Haven employed 321 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lutheran Haven 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 08/2022, Lutheran Haven generated $10.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $12.8m during the year ending 08/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A MINISTRY OF THE LUTHERAN CHURCH WHICH DEMONSTRATES THE LOVE OF GOD IN JESUS CHRIST TO OLDER ADULTS BY PROVIDING NURSING AND MEDICAL CARE AND A RETIREMENT COMMUNITY WHERE MEMBERS OF THE COMMUNITY MAY LIVE WITH HOPE AND CONFIDENCE UNTIL THE DAY THAT GOD CALLS THEM FOREVER.
Describe the Organization's Program Activity:
HEALTH CARE SERVICES - PROVIDES THE ELDERLY WITH HEALTHCARE ASSISTANCE INTHEIR HOME. NURSING AND MEDICAL CARE FOR THE AGED, PROVIDING A 56-BEDSKILLED NURSING FACILITY, A 31-BED ASSISTED LIVING FACILITY AND MEMORY CARESERVICES - PROVIDING A 26-BED MEMORY CARE FACILITY.DURING JANUARY 2022, THE ORGANIZATIONS BOARD OF TRUSTEES MADE THE DECISION TO DISCONTINUE OPERATIONS OF THE SKILLED NURSING FACILITY. THIS DECISION WAS DUE TO A DETERIORATING OPERATING ENVIRONMENT BASED ON FINANCIAL, REGULATORY AND UTILIZATION FACTORS. THE DECISION TO DISCONTINUE THE OPERATION OF THE SKILLED NURSING FACILITY WAS PUBLICLY ANNOUNCED ON MARCH 15, 2022, AND THE LAST RESIDENT LEFT THE FACILITY ON MAY 27, 2022.THE OPERATING RESULTS OF THE DISCONTINUED OPERATIONS IS INCLUDED IN THE FUNCTIONAL EXPENSES SECTION OF THE RETURN AND AMOUNTED TO A LOSS OF $2,388,245 FOR THE YEAR ENDED 8/31/2022.
RETIREES - 172 RESIDENTIAL HOUSING UNITS ARE AVAILABLE AND ARE CONTINUOUSLY FILLED EXCEPT FOR MAINTENANCE TIME BETWEEN RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Jerry Griffing CEO | OfficerTrustee | 40 | $151,742 |
Mr Michael Ray CFO | OfficerTrustee | 40 | $138,792 |
Michael A Buxton Nursing Home Adm | 40 | $127,541 | |
Iseman Julie Home Health Adm | 40 | $110,834 | |
Mrs Susan Hanas President | OfficerTrustee | 5 | $0 |
Mr James Ingersoll Vice President | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $39,510 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $325,849 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $365,359 |
| Total Program Service Revenue | $7,806,792 |
| Investment income | $271,147 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $993,845 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,072,809 |
| 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. | $520,354 |
| Compensation of current officers, directors, key employees. | $280,610 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,728,634 |
| Pension plan accruals and contributions | $33,455 |
| Other employee benefits | $563,679 |
| Payroll taxes | $309,573 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45,914 |
| Fees for services: Accounting | $29,475 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $56,995 |
| Fees for services: Other | $247,607 |
| Advertising and promotion | $35,371 |
| Office expenses | $316,503 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $22,253 |
| Conferences, conventions, and meetings | $0 |
| Interest | $494,527 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,817,955 |
| Insurance | $225,397 |
| All other expenses | $501,419 |
| Total functional expenses | $12,756,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,688,746 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $535,533 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $312,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $185,226 |
| Net Land, buildings, and equipment | $35,267,296 |
| Investments—publicly traded securities | $5,103,861 |
| Investments—other securities | $742,036 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,468,787 |
| Total assets | $45,303,485 |
| Accounts payable and accrued expenses | $1,062,692 |
| Grants payable | $0 |
| Deferred revenue | $17,396,457 |
| 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 | $13,838,884 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $434,071 |
| Total liabilities | $32,732,104 |
| Net assets without donor restrictions | $6,831,178 |
| Net assets with donor restrictions | $5,740,203 |
| 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 | $45,303,485 |