Lutheran Home Hickory Property Inc

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Phone

7046372870

Tax Period

2023-10-01 to 2024-09-30

Lutheran Home Hickory Property Inc, founded in 2004, is a small nonprofit that reported $597K in total revenue in fiscal year 2023. The organization ran a surplus of $141K, a strong 24% operating margin.

Mission

EMPOWERED BY CHRIST, WE WALK TOGETHER WITH ALL WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $438,397 Revenue: $600,000

LUTHERAN HOME HICKORY PROPERTY, INC. OWNS THE LAND AND BUILDING LOCATED AT 1265 21ST STREET, NE IN HICKORY, NC. THE CORPORATION LEASES THE Building TO LUTHERAN HOME - HICKORY, INC., WHICH STRIVES TO BE A TRUE HOME FOR ITS RESIDENTS, A PLACE OF COMFORT, SECURITY AND BELONGING. AS LESSOR, LUTHERAN HOME HICKORY PROPERTY, INC. CHARGES REASONABLE LEASE PAYMENTS SUFFICIENT TO PROVIDE ON-GOING UPKEEP OF THE FACILITY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $600,000

Investment Income $-3,155

Other Revenue $0

TOTAL REVENUE $596,845

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $438,397

Other Expenses $455,897

TOTAL EXPENSES $455,897

Year-over-Year Comparison

	2023	2022	Change
Revenue	$596,845	$600,000	0.0%
Expenses	$455,897	$540,572	-0.2%
Net Income	$140,948	$59,428	+1.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$825,640

Total Directors

$429,211

Key Employees

$295,440

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ted Goins	President/CEO	1.0	Officer Director	$0	$13,158	$429,211
Cary M Grant	Vice Chair	1.0	Director	$0	$0	$0
Gregory Hudgins	Chair	1.0	Director	$0	$0	$0
Karen Maddry	Secretary	1.0	Officer	$0	$10,047	$94,526
Kirby Nickerson	Chief Financial Officer	1.0	Officer	$0	$15,848	$301,903
Kesha Smith	Chief Operating Officer	1.0	Key Emp	$0	$14,715	$295,440

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$596,845	$455,897	$15,926,330	$140,948
2023	$600,000	$540,572	$5,647,005	$59,428
2022	$600,000	$472,135	$5,168,475	$127,865
2021	$600,000	$489,584	$5,364,031	$110,416
2020	$642,820	$531,653	$5,918,846	$111,167
2019	$600,000	$537,541	$5,834,712	$62,459
2018	$600,000	$529,536	$5,902,173	$70,464