LUTHERHAUS INCORPORATED (EIN 581360271) - 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

1979

Legal Domicile

Principal Officer

WILLIAM SIGMON

Phone

8283223720

Tax Period

2023-10-01 to 2024-09-30

LUTHERHAUS INCORPORATED, founded in 1979, is a small nonprofit that reported $449K in total revenue in fiscal year 2023. Expenses of $417K left a modest 7% surplus.

Mission

THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 50-UNIT APARTMENT COMMUNITY IN HICKORY, NORTH CAROLINA, KNOW AS LUTHERHAUS APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP CONTRACT) PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT.

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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 $281,213

Program Service Revenue $166,019

Investment Income $-659

Other Revenue $2,430

TOTAL REVENUE $449,003

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $361,060

Other Expenses $417,365

TOTAL EXPENSES $417,365

Year-over-Year Comparison

	2023	2022	Change
Revenue	$449,003	$436,577	+0.0%
Expenses	$417,365	$403,436	+0.0%
Net Income	$31,638	$33,141	0.0%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM SIGMON	CHAIR	0.50	Officer Director	$0	$0	$0
CINDY ELDER	VICE CHAIR	0.50	Officer Director	$0	$0	$0
ALLEN CALDWELL	TREASURER	0.50	Officer Director	$0	$0	$0
TED GOINS JR	SECRETARY	0.50	Officer Director	$0	$0	$0
BECKIE TOMPKINS	DIRECTOR	0.50	Director	$0	$0	$0
LINDA LUTZ	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTY LOHR SAPP	DIRECTOR	0.50	Director	$0	$0	$0
SKIP DOWNS	DIRECTOR	0.50	Director	$0	$0	$0
BRENDA FOX	DIRECTOR	0.50	Director	$0	$0	$0
HANNAH HUFFMAN	DIRECTOR	0.50	Director	$0	$0	$0
KENDRA HENDREN	DIRECTOR	0.50	Director	$0	$0	$0

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	$449,003	$417,365	$791,679	$31,638
2023	$436,577	$403,436	$790,917	$33,141
2022	$421,503	$380,076	$785,680	$41,427
2021	$460,098	$410,502	$813,962	$49,596
2020	$407,080	$395,656	$771,988	$11,424
2019	$433,191	$389,245	$785,127	$43,946

LUTHERHAUS INCORPORATED