LifeSpire of Virginia
Legal name: Virginia Baptist Homes Inc
Nonprofit profile at a glance
- EIN
- 540534405
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Glen Allen, VA, USA
- Phone
- (804) 521-9214
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Senior Citizens' Housing/Retirement Communities
- Affiliation
- Christianity
Reported finances
- Revenue
- $11,799,885
- Expenses
- $14,263,737
- Assets
- $106,802,120
- Liabilities
- $134,842,748
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
28 people listed
Executive titles in this filing
- JONATHAN COOK (PRESIDENT & CEO)
- LAURA WOOTON (VICE PRESIDENT OF HUMAN RESOURCES)
- ROBERT WILBANKS (VICE PRESIDENT OF IT (UNTIL 10/24))
Highest reported compensation
- JONATHAN COOK (PRESIDENT & CEO): $760,478 total reported compensation
- TRACEY JENNINGS (COO): $439,978 total reported compensation
- LISA LEGEER (CSO): $405,475 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
LifeSpire of Virginia is committed to providing everything our residents and team members need to live a Life, Inspired. LifeSpire of Virginia is composed of five nonprofit Life Plan senior living communities, the VBH Foundation, which provides financial assistance to help cover the cost of care for residents who have outlived their financial resources, and AgeSmart, an innovative program that allows healthy, independent seniors to age in place in their own homes with the peace of mind of knowing they’ll have assured access to the care services they might need in the future. Contact Our Team Older couple sitting on a sofa in a cozy living room with a cityscape painting behind them.
What it reported doing in 2024
The organization supported the charitable purposes of our subsidiaries by providing management, conducting short and long range planning, developing budgets and performing other supportive services as needed.
Operating model
- Revenue model
- Other-operating. 97% of the money available for current operations came from other operating revenue.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 76% for direct work, and 24% for grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 74
- Transparency & Controls: 86
- Accountability: 100
- Sustainability: 29
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 90.3%; rating input score 90
- Program expense ratio: 71.7%; rating input score 72
- Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 0; 0th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- 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: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- 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: -20.9%; rating input score 5; 5th percentile among comparable filings
- Total-asset coverage ratio: 7.49; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 1.26; rating input score 3; 3rd percentile among comparable filings
- Officer compensation ratio: 24%; rating input score 2; 2nd percentile among comparable filings
Growth
- Program expense growth: 12.5% per year; rating input score 100; 78th percentile among comparable filings
- Revenue growth: 6% per year; rating input score 100; 52nd percentile among comparable filings
- Asset growth: 16.4% per year; rating input score 100; 84th percentile among comparable filings
Details
- What they do: 1 programs and campaigns described on the official site
- Where the money goes: 90.3% of revenue deployed · 71.7% of spending went to programs
- Governance: 17 of 17 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $10.2M in reported program spending
- Leadership: top reported pay $760K · 28 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $13.6M reported
- Consistency: 29 of 29 current checks pass
- Schedules: 7 filed schedules · includes grants and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 12 filed money-flow records
- Related organizations: 8 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Financial Efficiency: Fundraising efficiency scored 0/100.
- High — Sustainability: Operating margin scored 5/100.
- High — Sustainability: Officer compensation ratio scored 2/100.
- High — Sustainability: Liabilities to assets ratio scored 3/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.