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Nonprofiteer
← LUTHERAN RETIREMENT CENTER SALISBURY INC

Form 990 for tax year 2024

Filed by LUTHERAN RETIREMENT CENTER SALISBURY INC.

Totals

Total revenue
$12,562,745
Total expenses
$10,719,990
Contributions and grants received
$103,475
Grants paid
$0
Program service revenue
$11,775,667
Investment income
$518,506
Other revenue
$165,097
Total assets, end of year
$32,749,464
Total liabilities, end of year
$21,482,617
Net assets or fund balances, end of year
$11,266,847
Program services expenses (Part IX)
$8,872,004
Management and general expenses
$1,382,799
Fundraising expenses
$465,187
Program service expenses (Part III)
$8,872,004

Program services were 82.8% 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.

  • 1c · Fundraising events

    $26,212

  • 1f · All other contributions, gifts and grants

    $77,263

  • 2a · Program service revenue: SERVICE FEE REVENUE

    total $10,336,534 · related or exempt $10,336,534

  • 2b · Program service revenue: ENTRANCE FEES

    total $1,439,133 · related or exempt $1,439,133

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $425,843 · excluded $425,843

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $105,565

  • 7b · Less cost or other basis and sales expenses

    other assets $12,902

  • 7c · Gain or loss

    securities $105,565 · other assets -$12,902

  • 7d · Net gain or loss

    total $92,663 · excluded $92,663

  • 8a · Fundraising events: contributions included on line 1c

    $26,212

  • 10a · Gross sales of inventory

    $32,009

  • 10b · Cost of goods sold

    $12,199

  • 10c · Net income from sales of inventory

    total $19,810 · related or exempt $19,810

  • 11a · Other revenue: OTHER INCOME

    total $145,287 · related or exempt $145,287

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $145,287

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $4,232,132 · program services $3,587,338 · management and general $474,798 · fundraising $169,996

  • 8 · Pension plan contributions

    total $25,440 · program services $21,564 · management and general $2,854 · fundraising $1,022

  • 9 · Other employee benefits

    total $515,603 · program services $437,047 · management and general $57,845 · fundraising $20,711

  • 10 · Payroll taxes

    total $323,569 · program services $274,271 · management and general $36,301 · fundraising $12,997

  • 11a · Fees: management

    total $507,802 · management and general $507,802

  • 11c · Fees: accounting

    total $17,000 · management and general $17,000

  • 11f · Fees: investment management

    total $8,312 · management and general $8,312

  • 11g · Fees: other

    total $551,566 · program services $505,705 · management and general $13,461 · fundraising $32,400

  • 12 · Advertising and promotion

    total $172,896 · management and general $23,193 · fundraising $149,703

  • 13 · Office expenses

    total $736,681 · program services $559,197 · management and general $100,242 · fundraising $77,242

  • 14 · Information technology

    total $454 · program services $454

  • 16 · Occupancy

    total $474,075 · program services $474,075

  • 17 · Travel

    total $2,070 · program services $1,425 · management and general $151 · fundraising $494

  • 19 · Conferences, conventions and meetings

    total $2,491 · program services $827 · management and general $1,042 · fundraising $622

  • 20 · Interest

    total $129,773 · program services $129,760 · management and general $13

  • 22 · Depreciation, depletion and amortization

    total $1,775,645 · program services $1,775,645

  • 23 · Insurance

    total $139,608 · management and general $139,608

  • 24a · Other expenses: FOOD

    total $895,985 · program services $895,985

  • 24b · Other expenses: MEDICAL EXPENSES

    total $208,684 · program services $208,684

  • 24c · Other expenses: COVID-19 EXPENSE

    total $1,812 · program services $1,812

  • 24d · Other expenses: MISCELLANEOUS EXPENSE

    total $177 · management and general $177

  • 24e · All other expenses

    total -$1,785 · program services -$1,785 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,267,495 · end of year $3,867,378

  • 4 · Accounts receivable

    beginning of year $974,589 · end of year $641,511

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $24,426 · end of year $78,277

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,082 · end of year $8,130

  • 10a · Land, buildings and equipment: cost or other basis

    $46,581,631

  • 10b · Land, buildings and equipment: accumulated depreciation

    $29,357,720

  • 10c · Land, buildings and equipment, net

    beginning of year $17,709,124 · end of year $17,223,911

  • 11 · Investments: publicly traded securities

    beginning of year $3,698,347 · end of year $9,654,637

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $916,657 · end of year $1,275,620

  • 17 · Accounts payable and accrued expenses

    beginning of year $584,973 · end of year $585,891

  • 19 · Deferred revenue

    beginning of year $16,918,275 · end of year $17,860,148

  • 20 · Tax-exempt bond liabilities

    beginning of year $3,266,131 · end of year $3,036,578

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $8,568,863 · end of year $11,195,029

  • 28 · Net assets with donor restrictions

    beginning of year $257,478 · end of year $71,818

Mission and programs · 2024

Mission

SEE SCHEDULE O

Activities or mission (Part I)

EMPOWERED BY CHRIST, WE WALK TOGETHER WITH ALL WE SERVE.

  • AT LUTHERAN RETIREMENT CENTER - SALISBURY, INC., ACTIVE RETIREES ARE AFFORDED PRIVACY AND COMPANIONSHIP. THE COMMUNITY IS DESIGNED WITH CAREFUL CONSIDERATION GIVEN TO SAFETY, SECURITY, AND ACCESSIBILITY. PROFESSIONAL AND CARING TEAMMATES ARE COMMITTED TO PROVIDING COMFORT, CARE, AND SUPPORTIVE SERVICES WHEN OR IF THOSE SERVICES ARE NEEDED. LUTHERAN RETIREMENT CENTER - SALISBURY, INC. IS MINDFUL OF THE RESPONSIBILITIES OF CITIZENRY AND STRIVES TO PROMOTE FAIRNESS AND EQUALITY WHILE PROVIDING QUALITY HEALTHCARE AND RESIDENTIAL SERVICES. DURING THE YEAR ENDED SEPTEMBER 30, 2025, LUTHERAN RETIREMENT CENTER- SALISBURY, INC. PROVIDED 72,131 DAYS OF SERVICE TO 246 RESIDENTS.

    Expenses $8,872,004 · Revenue $11,940,764

As filed on the 2024 return.

Listed in Part VII

  • TED GOINS

    PRESIDENT/CEO

    Total calculated
    $467,013
    From this org
    $0
    From related orgs
    $430,398
    Other
    $36,615
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $420,898 related
    Bonus
    $0 + $500 related
    Other
    $0 + $9,000 related
    Deferred
    $0 + $28,954 related
    Nontaxable benefits
    $0 + $7,661 related
    Filer's total
    $0 + $467,013 related

  • DOUG NELSON

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • HENRY BROWN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD HERMAN

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • SALLY AGNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KAREN MADDRY

    SECRETARY

    Total calculated
    $94,863
    From this org
    $0
    From related orgs
    $86,227
    Other
    $8,636
    Hours/week
    1 + 40 related

  • KIRBY NICKERSON

    CHIEF FINANCIAL OFFICER

    Total calculated
    $336,954
    From this org
    $0
    From related orgs
    $310,130
    Other
    $26,824
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $295,943 related
    Bonus
    $0 + $14,187 related
    Other
    $0
    Deferred
    $0 + $16,786 related
    Nontaxable benefits
    $0 + $10,038 related
    Filer's total
    $0 + $336,954 related

  • KESHA SMITH

    CHIEF OPERATING OFFICER

    Total calculated
    $323,120
    From this org
    $0
    From related orgs
    $308,014
    Other
    $15,106
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $281,971 related
    Bonus
    $0 + $26,043 related
    Other
    $0
    Deferred
    $0 + $5,456 related
    Nontaxable benefits
    $0 + $9,650 related
    Filer's total
    $0 + $323,120 related

  • LORIE ALDRIDGE

    DIRECTOR OF SALES AND MARKETING

    Total calculated
    $123,046
    From this org
    $114,353
    From related orgs
    $0
    Other
    $8,693
    Hours/week
    40 + 1 related

  • WILLIAM JOHNSON

    EXECUTIVE DIRECTOR

    Total calculated
    $232,032
    From this org
    $221,739
    From related orgs
    $0
    Other
    $10,293
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $206,027
    Bonus
    $15,712
    Other
    $0
    Deferred
    $3,607
    Nontaxable benefits
    $6,686
    Filer's total
    $232,032

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN
TED GOINS AND KIRBY NICKERSON PARTICIPATE IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN OFFERED BY THE LUTHERAN SERVICES FOR THE AGING. AMOUNTS WILL BE DISTRIBUTED TO THE EMPLOYEE THROUGH A PAYMENT SCHEDULE COMMENCING AT RETIREMENT. NO AMOUNTS WERE CONTRIBUTED TO THE PLAN DURING CALENDAR YEAR 2024.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.1
Source object
202642199349301414

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