Luther Memorial Home (EIN 450261669) - 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

1957

Legal Domicile

Phone

7017863401

Tax Period

2023-07-01 to 2024-06-30

Luther Memorial Home, founded in 1957, is a mid-sized nonprofit in the Health Care sector that reported $10.8M in total revenue in fiscal year 2023. Expenses of $10.5M left a modest 3% surplus.

Mission

To provide skilled and assisted care to its residents.

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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 $41,854

Program Service Revenue $10,611,233

Investment Income $151,638

Other Revenue $0

TOTAL REVENUE $10,804,725

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,034,425

Fundraising Expenses $0

Program Expenses $9,550,431

Other Expenses $3,435,721

TOTAL EXPENSES $10,470,146

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,804,725	$10,545,107	+0.0%
Expenses	$10,470,146	$11,056,526	-0.1%
Net Income	$334,579	$-511,419	-1.7%

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

196

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

$267,853

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Richelle Mewes	President	1.00	Officer Director	$0	$0	$0
Brad Thykeson	Vice President	1.00	Officer Director	$0	$0	$0
Natasha Basol	Secretary/Treasurer (Beg Aug 2023)	1.00	Officer Director	$0	$0	$0
Jeff Voltz	Director	1.00	Director	$0	$0	$0
Dean Erickson	Director	1.00	Director	$0	$0	$0
Linda Stromstad	Director	1.00	Director	$0	$0	$0
Gary Sundeen	Director	1.00	Director	$0	$0	$0
Richard Fugleberg	Director (Beg Sept 2023)	1.00	Director	$0	$0	$0
Glenn Endrud	Director (Beg Aug 2023)	1.00	Director	$0	$0	$0
Brittany Ness	Administrator (Beg May 2023)	40.00	Officer	$125,087	$29,664	$154,751
Julie Winger	CFO	40.00	Officer	$94,837	$18,265	$113,102
Nancy Carlson	Director of Nursing	40.00	Highest	$112,596	$33,079	$145,675
Brett Ulrich- Former Admin	/Consultant(Beg June 2023)	40.00		$106,850	$37,846	$144,696

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
2025	No data	No data	No data	No data
2024	$10,804,725	$10,470,146	$14,188,551	$334,579
2023	$10,545,107	$11,056,526	$13,510,228	$-511,419
2022	$11,108,042	$10,402,610	$14,348,681	$705,432
2021	$11,788,251	$9,953,668	$14,397,442	$1,834,583
2020	$9,766,393	$9,904,045	$14,257,416	$-137,652
2018	$9,511,110	$9,292,038	$12,354,273	$219,072

Luther Memorial Home