Lutheran Ministry Foundation

Nonprofit profile at a glance

EIN
470640291
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Seward, NE, USA
Phone
4026432961
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Protestant
Affiliation
Christianity

Reported finances

Revenue
$97,157
Expenses
$5,644
Assets
$2,705,663
Liabilities
$289,459

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

Leadership & pay

11 people listed

Executive titles in this filing

  • PAUL PETTIT (PRESIDENT)

Highest reported compensation

  • RICHARD SNOW (DIRECTOR): $211,651 total reported compensation
  • ELIJAH LUEBBE (TREASURER): $124,756 total reported compensation

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

Overview

Mission

The mission and purpose of lutheran ministry foundation is to assist lutherans in spreading the gospel of jesus christ, our lord and savior, by sharing those blessings which god has so graciously bestowed upon us. Lmf fulfills its mission and purpose through charitable grants to tax-exempt organizations whose purpose and activities are consistent with the lutheran faith (ministries).

What it reported doing in 2024

The sole program service of lutheran ministry foundation is the solicitation and receipt of contributions, gifts, grants, devices or bequests of property from contributions and the maintenance, use and application of any or all such property and the income therefrom exclusively for religious, charitable, scientific, literary or education purposes either directly or indirectly to affiliates of the lutheran church - Missouri synod and/or other irc section 501(c)(3) tax-exempt organizations. In furtherance of this program, lutheran ministry foundation is empowered to and does manage, invest, and safeguard funds for the benefit of its affiliates of the lutheran church - Missouri synod and/or other irc section 501(c)(3) tax-exempt organizations. On a periodic basis, the board of directors of lutheran ministry foundation will review requests for grants from these organizations. In accordance with established guidelines, the board will award grants in furtherance of its exempt function. In no case will the principal or income of lutheran ministry foundation inure to the benefit of a director, officer, or individual, nor will such funds be expended in an attempt to influence legislation.

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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 28
  • Transparency & Controls: 66
  • Accountability: 79
  • Sustainability: 78
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 7.9%; rating input score 8
  • Program expense ratio: 70.9%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 81.8%; rating input score 82; 25th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 94.2%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 479.39; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 1,861.1%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -13.6% per year; rating input score 0; 24th percentile among comparable filings
  • Revenue growth: 22.7% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 7.9% of revenue deployed · 70.9% of spending went to programs
  • Governance: 9 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4K in reported program spending
  • Leadership: top reported pay $212K · 11 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2020 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.

  • High — Financial Efficiency: Mission deployment rate scored 8/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.