Lutheran Retirement Center - Salisbury Inc (EIN 561540214) - 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

1986

Legal Domicile

Phone

7046372870

Tax Period

2023-10-01 to 2024-09-30

Lutheran Retirement Center - Salisbury Inc, founded in 1986, is a mid-sized nonprofit in the Housing & Shelter sector that reported $11.6M in total revenue in fiscal year 2023. Expenses of $10.7M left a modest 8% surplus.

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 $157,622

Program Service Revenue $11,291,588

Investment Income $101,473

Other Revenue $80,172

TOTAL REVENUE $11,630,855

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,897,731

Fundraising Expenses $438,177

Program Expenses $8,835,895

Other Expenses $5,753,460

TOTAL EXPENSES $10,651,191

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,630,855	$10,833,589	+0.1%
Expenses	$10,651,191	$9,737,607	+0.1%
Net Income	$979,664	$1,095,982	-0.1%

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

Governance

Voting Members

Independent Members

Employees

193

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

$825,640

Total Directors

$429,211

Key Employees

$295,440

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
Cary M Grant	Vice Chair	1.0	Director	$0	$0	$0
Gregory Hudgins	Chair	1.0	Director	$0	$0	$0
Henry Brown	Director	1.0	Director	$0	$0	$0
Sally Agner	Director	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
Lorie Aldridge	Director of Sales and Mark	40.0	Highest	$112,860	$9,384	$122,244
William Johnson	Executive Director	40.0	Highest	$212,297	$9,273	$221,570

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	$11,630,855	$10,651,191	$29,595,720	$979,664
2023	$10,833,589	$9,737,607	$27,751,905	$1,095,982
2022	$12,212,812	$8,868,402	$27,430,186	$3,344,410
2021	$9,827,314	$8,826,334	$24,283,839	$1,000,980
2020	$10,299,860	$8,910,848	$23,107,573	$1,389,012
2019	$9,918,564	$8,761,585	$25,223,417	$1,156,979
2018	$10,070,992	$8,136,888	$26,083,784	$1,934,104

Lutheran Retirement Center - Salisbury Inc