Luther Seminary Foundation

Nonprofit profile at a glance

EIN
411746301
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
St Paul, MN, USA
Phone
6516413456
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,943,083
Expenses
$1,433,493
Assets
$40,273,200
Liabilities
$1,286,735

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

Leadership & pay

7 people listed

Executive titles in this filing

  • ROBIN STEINKE (PRESIDENT)
  • HEIDI DROEGMUELLER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ROBIN STEINKE (PRESIDENT): $300,502 total reported compensation
  • HEIDI DROEGMUELLER (EXECUTIVE DIRECTOR): $249,488 total reported compensation
  • MATTHEW SCHUTZ (TREASURER/ASSOC. VP & CONTROLLER): $182,754 total reported compensation

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

Overview

Mission

To assist luther seminary in its general fundraising activities and soliciting and accepting the contributions (including endowments, deferred gifts, operating gifts, etc.) for the benefit of the seminary.

What it reported doing in 2024

Educational program support: the foundation gave $328,992 to luther seminary to support the expenses of a chaired position within the seminary and other educational support. Student aid: the foundation gave $892,915 to luther seminary for the purpose of financial assistance to seminary students.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 57
  • Accountability: 86
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.2%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: 26.2%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 28.09; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 17.4%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 14.5% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.2% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $301K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.