Lfs Real Properties Inc

Nonprofit profile at a glance

EIN
581820383
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Salisbury, NC, USA
Phone
7046372870
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Affiliation
Christianity

Reported finances

Revenue
$104,613
Expenses
$94,155
Assets
$2,318,778
Liabilities
$113,835

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

Leadership & pay

7 people listed

Executive titles in this filing

  • TED GOINS (PRESIDENT/CEO)
  • MYRA GRIFFIE (VICE PRESIDENT - CHILD & FAMILY SERV)

Highest reported compensation

  • TED GOINS (PRESIDENT/CEO): $467,013 total reported compensation
  • KIRBY NICKERSON (CHIEF FINANCIAL OFFICER): $336,954 total reported compensation
  • KESHA SMITH (CHIEF OPERATING OFFICER): $323,120 total reported compensation

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

Overview

Mission

Lutheran family services in the carolinas (lfs) is dedicated to one simple goal, improving the lives of the most vulnerable populations in north and South Carolina. The lfs mission statement is, "empowered by christ, we walk together with all we serve." lfs helps place children in loving foster and adoptive homes; provides comprehensive services to adults with special needs; helps those with severe and persistent mental illness manage symptoms; AIDS veterans in regaining independence; helps refugees acclimate to life in a new country; counsels families in their time of need and more.

What it reported doing in 2024

To hold title to real property and rent such property to its parent organization, lutheran family services in the carolinas.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

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

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 70
  • Accountability: 72
  • Sustainability: 60
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90%; rating input score 90
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 24.63; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 107.4%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: -5.6% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 90% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $94K in reported program spending
  • Leadership: top reported pay $467K · 7 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 38 filed related-organization links
  • 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.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.