SALEM LUTHERAN HOMES 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

1989

Legal Domicile

Principal Officer

STEVE SHELL

Phone

7127644201

Tax Period

2024-01-01 to 2024-12-31

SALEM LUTHERAN HOMES INC, founded in 1989, is a community nonprofit that reported $6.1M in total revenue in fiscal year 2024. Expenses of $6.8M exceeded revenue, resulting in a 10% operating deficit.

Mission

PROVIDE LONG TERM CARE AND HOUSING FOR ELDERLY AND INCAPACITATED PATIENTS

Program Service Accomplishments

Program 1

Expenses: $5,666,862 Revenue: $5,839,667

SALEM LUTHERAN HOMES IS AN IOWA NONPROFIT CORPORATION ORGANIZED FOR THE PURPOSE OF OPERATING A NURSING FACILITY IN ELK HORN, IOWA TO PROVIDE LONG TERM CARE AND HOUSING FOR ELDERLY AND INCAPACITATED...

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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 $167,441

Program Service Revenue $5,839,667

Investment Income $106,183

Other Revenue $4,009

TOTAL REVENUE $6,117,300

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,342,589

Fundraising Expenses $0

Program Expenses $5,666,862

Other Expenses $3,413,094

TOTAL EXPENSES $6,755,683

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,117,300	$6,205,509	0.0%
Expenses	$6,755,683	$6,328,254	+0.1%
Net Income	$-638,383	$-122,745	+4.2%

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

102

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CRAIG CLEMONS	PRESIDENT	1.00	Officer Director	$0	$0	$0
PAUL GUDE	TREASURER	1.00	Officer Director	$0	$0	$0
PASTOR LAURA WEBB	SECRETARY (BEG 3/2024)	1.00	Officer Director	$0	$0	$0
TAMI SCHECHINGER	SECRETARY (END 3/2024)	1.00	Officer Director	$0	$0	$0
CHARLIE PARKHURST	DIRECTOR	1.00	Director	$0	$0	$0
WAYNE HANSEN	DIRECTOR	1.00	Director	$0	$0	$0
MONTE HOEGH	DIRECTOR	1.00	Director	$0	$0	$0
DAVID THOMPSON	DIRECTOR	1.00	Director	$0	$0	$0
PASTOR RON RASSMUSSEN	DIRECTOR	1.00	Director	$0	$0	$0
LINDA MOSHER	DIRECTOR	1.00	Director	$0	$0	$0
PASTOR HEATHER PLOEN	DIRECTOR	1.00	Director	$0	$0	$0
KATHY RUBIO	DIRECTOR	1.00	Director	$0	$0	$0
JAMES BIEKER	DIRECTOR	1.00	Director	$0	$0	$0
DALE GOULD	INTERIM ADMINISTRATOR (END 2/2024)	40.00	Officer	$0	$0	$0
BRITTANY MARTZ	ADMINISTRATOR (BEG 2/2024)	40.00	Officer	$0	$0	$0

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	$6,117,300	$6,755,683	$6,125,822	$-638,383
2023	$6,205,509	$6,328,254	$6,838,458	$-122,745
2022	$6,330,517	$5,796,394	$6,869,926	$534,123
2021	$5,973,020	$5,272,008	$6,340,352	$701,012
2020	$6,257,463	$5,673,256	$6,115,307	$584,207
2019	$5,867,024	$5,912,143	$5,295,190	$-45,119
2018	$5,434,719	$5,864,234	$5,104,189	$-429,515