Lutheran Home Forsyth County Property Inc

EIN: 461188488 501(c)(3)

Salisbury, NC

Total Revenue
$714,027
Total Expenses
$692,563
Total Assets
$9,789,694
Net Assets
$359,619
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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
2012
Legal Domicile
NC
Phone
7046372870
Tax Period
2023-10-01 to 2024-09-30

Lutheran Home Forsyth County Property Inc, founded in 2012, is a small nonprofit that reported $714K in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $693K left a modest 3% surplus.

Mission

EMPOWERED BY CHRIST, WE WALK TOGETHER WITH ALL WE SERVE.

Program Service Accomplishments

Program 1
Expenses: $684,201 Revenue: $700,000

LUTHERAN HOME FORSYTH COUNTY PROPERTY, INC. OWNS LAND AND BUILDING LOCATED AT 7449 FAIR OAKS DRIVE IN CLEMMONS, NC. THE CORPORATION LEASES THE BUIDLING TO LUTHERAN HOME - FORSYTH COUNTY, INC., WHICH...

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LUTHERAN HOME FORSYTH COUNTY PROPERTY, INC. OWNS LAND AND BUILDING LOCATED AT 7449 FAIR OAKS DRIVE IN CLEMMONS, NC. THE CORPORATION LEASES THE BUIDLING TO LUTHERAN HOME - FORSYTH COUNTY, INC., WHICH STRIVES TO BE A TRUE HOME FOR ITS RESIDENTS, A PLACE OF COMFORT, SECURITY AND BELONGING. AS LESSOR, LUTHERAN HOME - FORSYTH COUNTY PROPERTY, INC. CHARGES REASONABLE LEASE PAYMENTS SUFFICIENT TO PROVIDE ON-GOING UPKEEP OF THE FACILITY.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $700,000
Investment Income $14,027
Other Revenue $0
TOTAL REVENUE $714,027

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $684,201
Other Expenses $692,563
TOTAL EXPENSES $692,563

Year-over-Year Comparison

2023 2022 Change
Revenue $714,027 $1,043,994 -0.3%
Expenses $692,563 $765,458 -0.1%
Net Income $21,464 $278,536 -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

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Governance

Voting Members
3
Independent Members
2
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
3
$825,640
Total Directors
3
$429,211
Key Employees
1
$295,440
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Ted Goins President/CEO 1.0
Officer Director
$0 $13,158 $429,211
Cary M Grant Vice Chair 1.0
Director
$0 $0 $0
Gregory Hudgins Chair 1.0
Director
$0 $0 $0
Karen Maddry Secretary 1.0
Officer
$0 $10,047 $94,526
Kirby Nickerson Chief Financial Officer 1.0
Officer
$0 $15,848 $301,903
Kesha Smith Chief Operating Officer 1.0
Key Emp
$0 $14,715 $295,440
Cynthia McCoy Administrator 1.0
Highest
$0 $10,106 $185,180
Tonya Hilliard Administrator 1.0
Highest
$0 $2,765 $120,600
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 $714,027 $692,563 $9,789,694 $21,464
2023 $1,043,994 $765,458 $12,858,764 $278,536
2022 $711,289 $863,989 $12,170,480 $-152,700
2021 $719,412 $735,031 $12,247,495 $-15,619
2020 $876,907 $734,058 $12,528,756 $142,849
2019 $708,872 $900,134 $12,906,890 $-191,262
2018 $708,034 $828,647 $13,315,223 $-120,613
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