LYNGBLOMSTEN APARTMENTS 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

1977

Legal Domicile

Principal Officer

JEFF HEINECKE

Phone

6516462941

Tax Period

2024-01-01 to 2024-12-31

LYNGBLOMSTEN APARTMENTS INC, founded in 1977, is a community nonprofit in the Housing & Shelter sector that reported $1.9M in total revenue in fiscal year 2024. Revenue grew 20% year-over-year, indicating healthy expansion.

Mission

INFLUENCED BY CHRIST, LYNGBLOMSTEN PROVIDES A MINISTRY OF COMPASSIONATE CARE AND INNOVATIVE SERVICES TO OLDER ADULTS IN ORDER TO PRESERVE AND ENHANCE THEIR QUALITY OF LIFE.

Program Service Accomplishments

Program 1

Expenses: $1,399,585 Revenue: $1,910,299

THE LYNGBLOMSTEN APARTMENTS IS A HUD-SUBSIDIZED RENTAL APARTMENT BUILDING FOR PEOPLE 62 YEARS OF AGE OR OLDER WHO HAVE LOW INCOMES. IN 2024, IT SERVED 146 OLDER ADULTS. THE APARTMENTS OFFER...

THE LYNGBLOMSTEN APARTMENTS IS A HUD-SUBSIDIZED RENTAL APARTMENT BUILDING FOR PEOPLE 62 YEARS OF AGE OR OLDER WHO HAVE LOW INCOMES. IN 2024, IT SERVED 146 OLDER ADULTS. THE APARTMENTS OFFER PERSONALIZED LIVING WITHOUT THE WORRIES OF MAINTAINING A HOME. A VARIETY OF OPPORTUNITIES FOR SOCIAL ACTIVITIES ARE AVAILABLE, WHICH ARE COORDINATED BY APARTMENTS STAFF AND LYNGBLOMSTEN'S LIFELONG LEARNING AND THE ARTS DEPARTMENT. RESIDENTS HELP STRENGTHEN COMMUNITY LIFE BY PARTICIPATING IN A RESIDENT COUNCIL AND A GREETER PROGRAM FOR WELCOMING NEW RESIDENTS. INVOLVED MANAGEMENT AND STAFF PROMOTE THE FEELING OF A CARING FAMILY.A SERVICE COORDINATOR ASSISTS RESIDENTS WITH FINDING APPROPRIATE SERVICES/RESOURCES, COMPLETING PAPERWORK, ETC.BRINGING PEACE OF MIND TO THE RESIDENTS AND THEIR FAMILIES. THOSE NEEDING PERSONAL OR MEDICAL CARE CAN CONTRACT FOR SERVICES THROUGH LYNGBLOMSTEN HOME HEALTH SERVICES OR THROUGH ANY AGENCY OF THEIR CHOICE.AS RESIDENTS HAVE BEEN AGING IN PLACE AND BECOMING LESS MOBILE, WE CONTINUE TO EXPLORE WAYS TO MEET THEIR INCREASED NEEDS FOR ACTIVITIES AND SUPPORT. LYNGBLOMSTEN APARTMENTS, INC., IS AFFILIATED WITH LYNGBLOMSTEN AND THE EVANGELICAL LUTHERAN CHURCH IN AMERICA.

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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 $1,910,299

Investment Income $399

Other Revenue $7,541

TOTAL REVENUE $1,918,239

Expense Breakdown

Grants Paid $0

Salaries & Benefits $640,330

Fundraising Expenses $0

Program Expenses $1,399,585

Other Expenses $1,226,787

TOTAL EXPENSES $1,867,117

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,918,239	$1,602,621	+0.2%
Expenses	$1,867,117	$1,708,157	+0.1%
Net Income	$51,122	$-105,536	-1.5%

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

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

$573,271

Total Directors

$339,198

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF HEINECKE	PRESIDENT & CEO	1.00	Officer Director	$0	$44,584	$339,198
DEBRA GEORGE	CHAIR	1.00	Officer Director	$0	$0	$0
DR MICHAEL LOVETT	VICE CHAIR	1.00	Officer Director	$0	$0	$0
REV IVY HUSTON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DR MARK KNUDSON	TREASURER	1.00	Officer Director	$0	$0	$0
DIANA ROCKSTAD	SECRETARY	1.00	Officer Director	$0	$0	$0
TODD FLIFLET	CFO	2.00	Officer	$0	$44,992	$234,073

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	$1,918,239	$1,867,117	$1,867,841	$51,122
2023	$1,602,621	$1,708,157	$1,963,196	$-105,536
2022	$1,357,242	$1,613,949	$2,075,281	$-256,707
2021	$1,378,002	$1,564,125	$2,484,103	$-186,123
2020	$1,247,755	$1,442,305	$2,627,560	$-194,550
2019	$1,242,966	$1,532,528	$2,891,940	$-289,562
2018	$1,248,617	$1,522,426	$3,251,170	$-273,809