Willamette Lutheran Homes Inc
- Assets
- $2.3m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 123
- Location
- Keizer, OR
- Founding
- 07/1965
- Data as of
- 03/2024
- EIN
- 93-0501838
Organization Overview
Willamette Lutheran Homes Inc is located in Keizer, OR. The organization was established in 1965. 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 03/2024, Willamette Lutheran Homes Inc employed 123 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Willamette 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 03/2024, Willamette Lutheran Homes Inc generated $2.8m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $2.9m during the year ending 03/2024. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 9 years. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING AND CARE FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
APARTMENTS, FOOD SERVICE, INFIRMARY AND OTHER RELATED SERVICES IN CARING FOR THE ELDERLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Veit President | Officer | $0 | |
Judy Ruscoe Vice Preside | Officer | $0 | |
Nadine Heidelberg Secretary | Officer | $0 | |
Scott Katter Treasurer | Officer | $0 | |
Larry George Director | Trustee | $0 | |
Deryl Nielsen Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $91,243 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $67,190 |
| Noncash contributions included in lines 1a–1f | $24,307 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $158,433 |
| Total Program Service Revenue | $2,592,671 |
| Investment income | $15,812 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,766,916 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,504,922 |
| Pension plan accruals and contributions | $25,895 |
| Other employee benefits | $70,747 |
| Payroll taxes | $167,750 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,349 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,198 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $326 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $161,140 |
| Insurance | $0 |
| All other expenses | $308,975 |
| Total functional expenses | $2,914,338 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,558 |
| Savings and temporary cash investments | $175,766 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,080 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,032 |
| Prepaid expenses and deferred charges | $111,927 |
| Net Land, buildings, and equipment | $2,034,506 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,349,869 |
| Accounts payable and accrued expenses | $213,723 |
| Grants payable | $0 |
| Deferred revenue | $1,068,816 |
| 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 | $0 |
| Total liabilities | $1,282,539 |
| Net assets without donor restrictions | $1,067,330 |
| 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 | $2,349,869 |