Lutheran Home Hickory West Property Inc

EIN: 205304712 501(c)(3)

Salisbury, NC

Total Revenue
$904,941
Total Expenses
$743,086
Total Assets
$16,623,792
Net Assets
$5,339,916
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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
2006
Legal Domicile
NC
Phone
7046372870
Tax Period
2023-10-01 to 2024-09-30

Lutheran Home Hickory West Property Inc, founded in 2006, is a small nonprofit that reported $905K in total revenue in fiscal year 2023. The organization ran a surplus of $162K, a strong 18% operating margin.

Mission

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

Program Service Accomplishments

Program 1
Expenses: $737,546 Revenue: $820,000

LUTHERAN HOME HICKORY WEST PROPERTY, INC. OWNS THE LAND AND BUILDING LOCATED AT 2140 MEDICAL PARK DRIVE IN HICKORY, NC. THE CORPORATION LEASES THE NURSING HOME TO LUTHERAN HOME HICKORY WEST, INC...

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LUTHERAN HOME HICKORY WEST PROPERTY, INC. OWNS THE LAND AND BUILDING LOCATED AT 2140 MEDICAL PARK DRIVE IN HICKORY, NC. THE CORPORATION LEASES THE NURSING HOME TO LUTHERAN HOME HICKORY WEST, INC., WHICH STRIVES TO BE A TRUE HOME FOR ITS RESIDENTS, A PLACE OF COMFORT, SECURITY AND BELONGING. AS LESSOR, LUTHERAN HOME HICKORY WEST 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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $820,000
Investment Income $84,941
Other Revenue $0
TOTAL REVENUE $904,941

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $737,546
Other Expenses $743,086
TOTAL EXPENSES $743,086

Year-over-Year Comparison

2023 2022 Change
Revenue $904,941 $858,966 +0.1%
Expenses $743,086 $807,534 -0.1%
Net Income $161,855 $51,432 +2.1%
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

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Governance

Voting Members
3
Independent Members
2
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
3
$825,640
Total Directors
3
$429,211
Key Employees
1
$295,440
Highest Compensated
1
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
Hannah Huffman Administrator 1.0
Highest
$0 $11,169 $130,088
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 $904,941 $743,086 $16,623,792 $161,855
2023 $858,966 $807,534 $16,462,613 $51,432
2022 $860,004 $976,956 $16,817,804 $-116,952
2021 $1,068,606 $916,399 $17,511,614 $152,207
2020 $983,895 $975,908 $17,320,095 $7,987
2019 $851,437 $1,097,209 $17,544,528 $-245,772
2018 $848,595 $1,077,613 $18,342,862 $-229,018
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