NORWEGIAN LUTHERAN BETHESDA HOME ASSOCIATION (EIN 362167819) - Form 990 Financial Analysis & Trantor Score

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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

1909

Legal Domicile

Principal Officer

SILVIA MORICI

Phone

7736314856

Tax Period

2024-01-01 to 2024-12-31

NORWEGIAN LUTHERAN BETHESDA HOME ASSOCIATION, founded in 1909, is a micro nonprofit in the Human Services sector that reported $3K in total revenue in fiscal year 2024. Revenue fell 100% from the prior year — a significant decline worth monitoring. Expenses of $651K exceeded revenue, resulting in a 24633% operating deficit.

Mission

THE NORWEIGIAN LUTHERAN BETHESDA HOME ASSOCIATION WAS FOUNDED IN 1909 TO SERVE THE NEEDS OF THE ELDERLY POPULATION OF THE COMMUNITY. IN JULY 2023 THE NURSING HOME BUILDING WAS SOLD, AND CARING FOR THE ELDERLY BY NORWEGIAN LUTHERAN BETHESDA HOME ASSOCIATION TRANSITIONED TO THE NEW OWNERS. CURRENTLY THE ORGANIZATION IS WINDING DOWN REMAINING ITEMS BEFORE CLOSING OPERATIONS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $-347

Investment Income $775

Other Revenue $2,203

TOTAL REVENUE $2,631

Expense Breakdown

Grants Paid $0

Salaries & Benefits $-12,481

Fundraising Expenses $0

Program Expenses $117,893

Other Expenses $663,205

TOTAL EXPENSES $650,724

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,631	$3,534,828	-1.0%
Expenses	$650,724	$8,120,760	-0.9%
Net Income	$-648,093	$-4,585,932	-0.9%

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

N/A

Independent Members

N/A

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

$611,536

Total Directors

Key Employees

$231,422

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL SCHAIK	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
DIRK DANKER	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN KROLL	VICE CHAIRPERSON	1.00	Officer Director	$0	$0	$0
MARY SUSAN CALHOUN	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT CHIOSTRI	DIRECTOR	1.00	Director	$0	$0	$0
INGRID FORSBERG	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD STEFFENS	CFO	5.00	Officer	$0	$24,764	$274,826
SILVIA MORICI	CEO	5.00	Officer	$0	$21,809	$336,710
MARY JO BADE	CORP CLINICAL SERV DIR	10.00	Key Emp	$0	$11,351	$231,422

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	$2,631	$650,724	$1,844,746	$-648,093
2023	$3,534,828	$8,120,760	$2,731,519	$-4,585,932
2022	$11,966,256	$14,082,897	$17,384,799	$-2,116,641
2021	$13,672,257	$13,865,859	$16,218,010	$-193,602
2020	$13,206,082	$14,141,840	$16,003,793	$-935,758
2019	$11,270,693	$13,091,490	$16,627,858	$-1,820,797
2018	$8,373,019	$9,861,375	$16,388,283	$-1,488,356

NORWEGIAN LUTHERAN BETHESDA HOME ASSOCIATION