CEDAR FALLS LUTHERAN HOME

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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

1958

Legal Domicile

Principal Officer

ARTHUR COX

Phone

3192680401

Tax Period

2023-01-01 to 2023-12-31

CEDAR FALLS LUTHERAN HOME, founded in 1958, is a mid-sized nonprofit in the Housing & Shelter sector that reported $17.8M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year.

Mission

CHRISTIAN CARING - ENHANCING LIVES THROUGH A COMMITMENT TO INDIVIDUALIZED CARE IN A HOME EMPOWERED BY GOD'S LOVE.

Program Service Accomplishments

Program 1

Expenses: $15,782,597 Revenue: $16,941,274

WE OFFER CHRISTIAN CARING THROUGHOUT OUR 42-UNIT ASSISTED LIVING FACILITY, 93 INDEPENDENT LIVING UNITS AND 135-BED NURSING FACILITY, WHICH INCLUDES A 20-BED MEMORY CARE HOUSE. WE ARE COMMITTED TO...

WE OFFER CHRISTIAN CARING THROUGHOUT OUR 42-UNIT ASSISTED LIVING FACILITY, 93 INDEPENDENT LIVING UNITS AND 135-BED NURSING FACILITY, WHICH INCLUDES A 20-BED MEMORY CARE HOUSE. WE ARE COMMITTED TO QUALITY FIRST, A PHILOSOPHY OF QUALITY AND A FRAMEWORK FOR EARNING PUBLIC TRUST IN AGING SERVICES. WE CONTINUE OUR JOURNEY TO PROMOTE RESIDENT-CENTERED, CONSUMER DRIVEN SERVICE. WE OFFER WELLNESS PROGRAMMING THAT INCLUDES MUSIC, ART AND HORTICULTURE THERAPIES. THE CORPORATION IS ALSO THE SOLE OWNER OF HOME CONNECTIONS, LLC, A HOME HEALTH AGENCY, OPERATING IN CEDAR FALLS, IOWA AS WELL AS SOLE OWNER OF THE TERRACES AT WEST GLEN, A NEW INDEPENDENT LIVING COMMUNITY SITUATED ON A SEPARATE CAMPUS ON THE WEST SIDE OF CEDAR FALLS.WE OFFER FURNISHING, MAINTENANCE AND RELATED PARKING AND SITE IMPROVEMENTS OF NEW INDEPENDENT LIVING UNITS THROUGHOUT OUR 23 UNITS. WHICH INCLUDES THE RETIREMENT OF ANY EXISTING INDEBTEDNESS RELATED TO THE PROJECT AND FINANCING THE COSTS OF ISSUANCE AND CERTAIN OTHER COSTS ASSOCIATED WITH THE ISSUANCE OF NOTES AND SALE OF THE NOTES. THE BOARD OF DIRECTORS OF CEDAR FALLS LUTHERAN HOME, THE SOLE MEMBER OF WEST GLEN HEREBY AUTHORIZES AND APPROVES THE PROPOSAL FROM THE LENDER AND THE ISSUANCE OF THE NOTES ON BEHALF OF WEST GLEN, LLC.

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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 $170,459

Program Service Revenue $16,743,955

Investment Income $158,950

Other Revenue $763,270

TOTAL REVENUE $17,836,634

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,696,083

Fundraising Expenses $0

Program Expenses $15,782,597

Other Expenses $8,590,146

TOTAL EXPENSES $19,286,229

Year-over-Year Comparison

	2023	2022	Change
Revenue	$17,836,634	$19,319,654	-0.1%
Expenses	$19,286,229	$21,450,328	-0.1%
Net Income	$-1,449,595	$-2,130,674	-0.3%

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

454

Volunteers

100

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

$471,424

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ART COX	PRESIDENT	1.00	Officer Director	$0	$0	$0
TIM SCHNEIDER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
DREW MCHOLM	TREASURER	1.00	Officer Director	$0	$0	$0
ANNELIE HEINEN	SECRETARY	1.00	Officer Director	$0	$0	$0
DAN CHANNER	DIRECTOR	1.00	Director	$0	$0	$0
AMY CURLEY	DIRECTOR	1.00	Director	$0	$0	$0
DIANNE EVELAND	DIRECTOR	1.00	Director	$0	$0	$0
DARRIN GILLETT	DIRECTOR	1.00	Director	$0	$0	$0
LORI NEWBROUGH	DIRECTOR	1.00	Director	$0	$0	$0
KATHY THEDE	DIRECTOR	1.00	Director	$0	$0	$0
MILLISA TIERNEY	CHIEF EXECUTIVE OFFICER	40.00	Officer	$163,199	$29,986	$193,185
ERIN O'NEILL-GLEASON	CHIEF OPERATING OFFICER	40.00	Officer	$137,022	$5,404	$142,426
DAWNA SCHEFF	CHIEF FINANCIAL OFFICER	40.00	Officer	$114,656	$21,157	$135,813
CRYSTAL JASPER	DIRECTOR OF CLINICAL SERVI	40.00	Highest	$118,923	$37,753	$156,676
JULIE NICHOLS	PHYSICAL THERAPIST	40.00	Highest	$110,498	$27,453	$137,951
SHELLEEN HATCH	HR DIRECTOR	40.00	Highest	$108,013	$37,059	$145,072

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	No data	No data	No data	No data
2023	$17,836,634	$19,286,229	$35,101,523	$-1,449,595
2022	$19,319,654	$21,450,328	$37,991,138	$-2,130,674
2021	$19,916,708	$17,983,466	$37,181,426	$1,933,242
2020	$17,852,396	$17,009,743	$34,797,964	$842,653
2019	$16,979,080	$16,308,875	$28,291,384	$670,205
2018	$17,080,815	$16,045,207	$27,149,250	$1,035,608