Endowment Fund of Slvg Lutheran Home

Nonprofit profile at a glance

EIN
770153001
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Solvang, CA, USA
Phone
8056883263
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Nursing, Convalescent Facilities
Affiliation
Christianity

Reported finances

Revenue
$988,183
Expenses
$314,306
Assets
$10,378,977
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • MIKE SGOBBA (Vice President)
  • BILL CIRONE (President)

People named in this filing

  • TOM OLMSTEAD (Director)
  • BARBARA WAER (Secretary)
  • MIKE SGOBBA (Vice President)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2024

Grant to individuals for nursing school scholarships and helping residents of the solvang lutheran home

Operating model

Revenue model
Investment-supported. 81% of the money available for current operations came from recurring investment income.
Distribution model
Affiliate network. The nonprofit sent 75% of its reported program spending through affiliated organizations.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 94
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.1%; rating input score 97
  • Program expense ratio: 95%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 68.2%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 33.02; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 13.1% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: -18.2% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 97.1% of revenue deployed · 95% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $298K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.