Lutheran Retirement Center - Wilmington Inc

EIN: 561500308 501(c)(3)

Salisbury, NC

Total Revenue
$17,887,218
Total Expenses
$14,642,110
Total Assets
$125,024,800
Net Assets
$-5,056,465
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
NC
Phone
7046372870
Tax Period
2023-10-01 to 2024-09-30

Lutheran Retirement Center - Wilmington Inc, founded in 1985, is a mid-sized nonprofit that reported $17.9M in total revenue in fiscal year 2023. Revenue surged 59% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.2M, a strong 18% operating margin.

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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $12,528
Program Service Revenue $17,871,646
Investment Income $0
Other Revenue $3,044
TOTAL REVENUE $17,887,218

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,713,298
Fundraising Expenses $0
Program Expenses $13,790,043
Other Expenses $9,928,812
TOTAL EXPENSES $14,642,110

Year-over-Year Comparison

2023 2022 Change
Revenue $17,887,218 $11,257,774 +0.6%
Expenses $14,642,110 $11,123,047 +0.3%
Net Income $3,245,108 $134,727 +23.1%
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
132
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
3
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
Ann P Presley Director of sales and marketing 40.0
Highest
$183,973 $6,522 $190,495
Bonnie Jordan Skobel Executive Director 40.0
Highest
$165,781 $7,641 $173,422
John C Frye Executive Director 40.0
Highest
$169,046 $10,603 $179,649
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 $17,887,218 $14,642,110 $125,024,800 $3,245,108
2023 $11,257,774 $11,123,047 $136,892,378 $134,727
2022 $529,290 $1,454,260 $118,589,186 $-924,970
2021 $410,132 $936,741 $82,580,786 $-526,609
2020 $36,695 $925,937 $19,185,385 $-889,242
2019 $35,603 $1,048,142 $8,526,635 $-1,012,539
2018 $258 $16,427 $4,441,922 $-16,169
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