The Foundation for Abundant Living
Nonprofit profile at a glance
- EIN
- 561681723
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Salisbury, NC, USA
- Phone
- 7046372870
- Rating
- 53
- Verdict
- MIXED
- Rating confidence
- Moderate
- Affiliation
- Christianity
Reported finances
- Revenue
- $145,179
- Expenses
- $58,904
- Assets
- $12,476,931
- Liabilities
- $733,988
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
The foundation for abundant living is the foundation for lutheran services for the aging, inc. (lsa) and its affiliates. The primary objective of the foundation is to provide support to lsa and its affiliates. The lsa organization is a social ministry of the evangelical lutheran church in america operating in North Carolina. Founded in 1960, lsa now has nursing homes in salisbury, hickory, albemarle, winston-salem, wilmington, and clemmons; retirement communities in arden and salisbury; an assisted living residence in clemmons; and an adult day services program in salisbury. Please see schedule o for a continuation of program service accomplishments. Lsa also provides geriatric are management, home care, and information and referral services. The foundation shares lsa's ministry to provide christian care to those seeking services regardless of faith, disability or economic status.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- 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
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 a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 28
- Transparency & Controls: 75
- Accountability: 72
- Sustainability: 77
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 30.6%; rating input score 31
- Program expense ratio: 31.9%; rating input score 32
- 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: Yes; rating input score 100
- 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: 59.4%; rating input score 94; 94th percentile among comparable filings
- Total-asset coverage ratio: 211.82; rating input score 100; 100th percentile among comparable filings
- Liabilities to assets ratio: 0.06; rating input score 31; 31st percentile among comparable filings
- Officer compensation ratio: 148%; rating input score 0; 0th percentile among comparable filings
Growth
- Program expense growth: -9% per year; rating input score 0; 12th percentile among comparable filings
- Revenue growth: -1.8% per year; rating input score 0; 17th percentile among comparable filings
- Asset growth: 5% per year; rating input score 100; 47th percentile among comparable filings
Details
- Where the money goes: 30.6% of revenue deployed · 31.9% of spending went to programs
- Governance: 2 of 3 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $19K in reported program spending
- Leadership: top reported pay $467K · 6 people listed · 2 of 6 pay-setting controls reported
- Consistency: 18 of 18 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 15 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 31/100.
- Moderate — Financial Efficiency: Program expense ratio scored 32/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Officer compensation ratio scored 0/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 31/100.