Lutheran Family Services in the Carolinas (EIN 561286323) - 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

1980

Legal Domicile

Phone

7046372870

Tax Period

2023-10-01 to 2024-09-30

Lutheran Family Services in the Carolinas, founded in 1980, is a mid-sized nonprofit in the Human Services sector that reported $44.8M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum.

Mission

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

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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 $25,082,891

Program Service Revenue $19,355,965

Investment Income $55,852

Other Revenue $318,278

TOTAL REVENUE $44,812,986

Expense Breakdown

Grants Paid $9,084,306

Salaries & Benefits $20,032,409

Fundraising Expenses $0

Program Expenses $37,772,286

Other Expenses $15,261,228

TOTAL EXPENSES $44,377,943

Year-over-Year Comparison

	2023	2022	Change
Revenue	$44,812,986	$36,973,024	+0.2%
Expenses	$44,377,943	$34,755,855	+0.3%
Net Income	$435,043	$2,217,169	-0.8%

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

444

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

$825,640

Total Directors

$429,211

Key Employees

$465,492

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ted Goins	President/CEO	1.0	Officer Director	$0	$13,158	$429,211
Anna Yonge	Board Member	1.0	Director	$0	$0	$0
Brian Van Horn	Board Member	1.0	Director	$0	$0	$0
Capri Foy	Board Member	1.0	Director	$0	$0	$0
Cary M Grant	Vice Chair	1.0	Director	$0	$0	$0
David Turner	Board Member	1.0	Director	$0	$0	$0
Doug Nelson	Board Member	1.0	Director	$0	$0	$0
Frances R Lamb	Board Member	1.0	Director	$0	$0	$0
Gregory Hudgins	Chair	1.0	Director	$0	$0	$0
Hoang Nguyen	Board Member	1.0	Director	$0	$0	$0
Joel Miller	Board Member	1.0	Director	$0	$0	$0
Kaye R Leonard	Board Member	1.0	Director	$0	$0	$0
Mary Finklea	Board Member	1.0	Director	$0	$0	$0
Renee Rogers	Board Member	1.0	Director	$0	$0	$0
Rick Herman	Board Member	1.0	Director	$0	$0	$0
Shanitria Cuthbertson	Board Member	1.0	Director	$0	$0	$0
Sharon Graeber	Board Member	1.0	Director	$0	$0	$0
Sylvia Flack	Board Member	1.0	Director	$0	$0	$0
Tami Hefner	Board Member	1.0	Director	$0	$0	$0
Will Rose	Board Member	1.0	Director	$0	$0	$0
Karen Maddry	Sexretary	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
Myra Griffie	Vice President - Child & Family Services	1.0	Key Emp	$0	$7,410	$170,052
Arlene Miller	Physician	40.0	Highest	$138,389	$8,201	$146,590
Bethany Vause	Executive Director of Community & Rehab Services	40.0	Highest	$116,642	$9,015	$125,657
Jeffrey Demagistris	NC Executive Director: Child & Family Services	40.0	Highest	$114,790	$11,050	$125,840
Matthew Hembree	Executive Director - New Americans Program	40.0	Highest	$104,577	$8,022	$112,599
Sarah Quirk	Executive Clinical Director	40.0	Highest	$117,710	$10,120	$127,830

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	$44,812,986	$44,377,943	$13,426,425	$435,043
2023	$36,973,024	$34,755,855	$12,473,209	$2,217,169
2022	$32,059,111	$28,472,961	$8,076,707	$3,586,150
2021	$24,137,672	$23,744,165	$8,144,497	$393,507
2020	$24,278,785	$23,671,225	$6,264,447	$607,560
2019	$24,910,675	$24,907,303	$5,528,956	$3,372
2018	$24,638,745	$24,957,586	$5,427,109	$-318,841

Lutheran Family Services in the Carolinas