Form 990 for tax year 2024
Filed by ENDOWMENT FUND OF THE SOLVANG LUTHERAN HOME.
Totals
- Total revenue
- $988,183
- Total expenses
- $314,306
- Contributions and grants received
- $5,800
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $921,424
- Other revenue
- $60,959
- Total assets, end of year
- $10,378,977
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $10,378,977
- Program services expenses (Part IX)
- $298,476
- Management and general expenses
- $15,830
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $298,476
Program services were 95.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$5,800
-
3 · Investment income
total $286,144 · excluded $286,144
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $60,959
-
6c · Rental income or loss
real property $60,959
-
6d · Net rental income or loss
total $60,959 · excluded $60,959
-
7a · Gross sales of assets other than inventory
securities $635,280
-
7c · Gain or loss
securities $635,280
-
7d · Net gain or loss
total $635,280 · related or exempt $635,280
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $10,900 · program services $10,355 · management and general $545
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $1,860 · program services $1,767 · management and general $93
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $235,745 · program services $223,958 · management and general $11,787
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $6,707 · program services $6,372 · management and general $335
-
24a · Other expenses: BROKER FEES
total $58,973 · program services $56,024 · management and general $2,949
-
24b · Other expenses: BANK CHARGES
total $96 · management and general $96
-
24c · Other expenses: FILING FEE
total $25 · management and general $25
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $0
-
2 · Savings and temporary cash investments
beginning of year $256,742 · end of year $483,004
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $2,762
-
10a · Land, buildings and equipment: cost or other basis
$296,000
-
10c · Land, buildings and equipment, net
beginning of year $296,000 · end of year $296,000
-
11 · Investments: publicly traded securities
beginning of year $9,152,358 · end of year $9,597,211
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
27 · Net assets without donor restrictions
beginning of year $9,705,100 · end of year $10,378,977
Mission and programs · 2024
Mission
THE SPECIFIC PURPOSE OF THIS CORPORATION IS TO PROCURE, MANAGE AND INVEST DONATIONS TO THE ENDOWMENT FUND IN ORDER TO EXTEND FINANCIAL ASSISTANCE FOR THE OPERATRION, MAINTENANCE,IMPROVEMENT AND EXPANSION OF THE SOLVANG LUTHERAN HOME, INC. FOR CURRENT RESIDENTS, WHILE PRESERVING AND GROWING THE CORPUS TO BENEFIT BOTH CURRENT AND FUTURE RESIDENTS.
-
GRANT TO INDIVIDUALS FOR NURSING SCHOOL SCHOLARSHIPS AND HELPING RESIDENTS OF THE SOLVANG LUTHERAN HOME
Expenses $298,476
As filed on the 2024 return.
Listed in Part VII
-
Tom OlmsteadTOM OLMSTEAD
Director
- Total calculated
- $0
- Hours/week
- 5
-
Barbara WaerBARBARA WAER
Secretary
- Total calculated
- $0
- Hours/week
- 5
-
Mike SgobbaMIKE SGOBBA
Vice President
- Total calculated
- $0
- Hours/week
- 5
-
Bill CironeBILL CIRONE
President
- Total calculated
- $0
- Hours/week
- 5
-
Martha NedegaardMARTHA NEDEGAARD
Director
- Total calculated
- $0
- Hours/week
- 5
-
Janet OliveraJANET OLIVERA
Director
- Total calculated
- $0
- Hours/week
- 5
-
Maria FazioMARIA FAZIO
Director
- Total calculated
- $0
- Hours/week
- 5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501 C(3) · CARE FOR THE ELDERLY · CA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 17 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533219349305113
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