Lutheran Services Property Inc
Nonprofit profile at a glance
- EIN
- 203895886
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Salisbury, NC, USA
- Phone
- 7046372870
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Affiliation
- Christianity
Reported finances
- Revenue
- $164,753
- Expenses
- $139,999
- Assets
- $2,967,097
- Liabilities
- $804,208
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- TED GOINS (PRESIDENT/CEO)
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
See schedule o
What it reported doing in 2024
Lutheran service property, inc. Owns the land and building located at 1416 s. Martin luther king, jr. Avenue and 320 calhoun street in salisbury, nc. The corporation leases the building to the following entities: lsa management, inc., lsa pharmacy, inc. And abundant living adult day services, inc. These entities provide various support services to affiliates, pharmacy services to the lutheran homes affiliates, and adult day services to people of all faiths and economic status. As lessor, lutheran services property, inc. Charges reasonable lease rates to its affiliated lessees, the only tenants, in amounts sufficient to provide on-going upkeep of the facility.
Operating model
- Revenue model
- Other-operating. 95% 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. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 71
- Accountability: 72
- Sustainability: 62
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 86.4%; rating input score 86
- Program expense ratio: 98.7%; rating input score 99
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 19th 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: 15%; rating input score 68; 68th percentile among comparable filings
- Total-asset coverage ratio: 21.19; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.27; rating input score 17; 17th percentile among comparable filings
- Officer compensation ratio: 62.3%; rating input score 2; 2nd percentile among comparable filings
Growth
- Program expense growth: 3.2% per year; rating input score 100; 45th percentile among comparable filings
- Revenue growth: 5.5% per year; rating input score 100; 55th percentile among comparable filings
- Asset growth: 2.8% per year; rating input score 100; 37th percentile among comparable filings
Details
- Where the money goes: 86.4% of revenue deployed · 98.7% of spending went to programs
- Governance: 2 of 3 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $138K in reported program spending
- Leadership: top reported pay $467K · 6 people listed · 2 of 6 pay-setting controls reported
- Consistency: 22 of 22 current checks pass
- Schedules: 5 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.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Officer compensation ratio scored 2/100.
- High — Sustainability: Liabilities to assets ratio scored 17/100.