THE LUTHERAN RETIREMENT HOME OF GREATER SEATTLE (EIN 910743702) - 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

1961

Legal Domicile

Principal Officer

REGGIE MULLIS

Phone

2065259666

Tax Period

2023-01-01 to 2023-12-31

THE LUTHERAN RETIREMENT HOME OF GREATER SEATTLE, founded in 1961, is a mid-sized nonprofit in the Housing & Shelter sector that reported $20.9M in total revenue in fiscal year 2023. Expenses of $25.2M exceeded revenue, resulting in a 20% operating deficit.

Mission

PROMOTE INDEPENDENCE, HEALTH, SECURITY, PURPOSE AND BELONGING IN LIFE FOR ADULTS AGE 62 PLUS.

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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 $42,023

Program Service Revenue $18,648,801

Investment Income $1,922,325

Other Revenue $260,615

TOTAL REVENUE $20,873,764

Expense Breakdown

Grants Paid $285,364

Salaries & Benefits $11,848,681

Fundraising Expenses $77,349

Program Expenses $21,687,170

Other Expenses $13,016,585

TOTAL EXPENSES $25,150,630

Year-over-Year Comparison

	2023	2022	Change
Revenue	$20,873,764	$20,485,068	+0.0%
Expenses	$25,150,630	$23,487,844	+0.1%
Net Income	$-4,276,866	$-3,002,776	+0.4%

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

254

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

$802,606

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEE COHRS	CHAIR THEN SECRETARY	1.00	Officer Director	$0	$0	$0
CAITLIN GRANT CPA VICE	CHAIR THEN CHAIR (THROUGH OCT 2023)	1.00	Officer Director	$0	$0	$0
HARRY EDMON	SECRETARY THEN VICE CHAIR	1.00	Officer Director	$0	$0	$0
DOUG CUSTER CFP CAP	TRUSTEE THEN INTERIM CHAIR	1.00	Officer Director	$0	$0	$0
KARRIN DANIELS	TRUSTEE	1.00	Director	$0	$0	$0
TERI HIGBY CPA	TRUSTEE	1.00	Director	$0	$0	$0
DR ANN MELVIN	TRUSTEE	1.00	Director	$0	$0	$0
MIKE OLDEN	TRUSTEE	1.00	Director	$0	$0	$0
KARI RALLO	TRUSTEE	1.00	Director	$0	$0	$0
CAROL REDFIELD	TRUSTEE	1.00	Director	$0	$0	$0
REV ELISE SCOTT	TRUSTEE	1.00	Director	$0	$0	$0
REGGIE MULLIS	CHIEF EXECUTIVE OFFICER	40.00	Officer	$268,017	$82,748	$350,765
ROSIE VELASCO	CHIEF HEALTH CARE OFFICER	40.00	Officer	$212,210	$44,318	$256,528
JACK MCKITTRICK	CHIEF FINANCIAL OFFICER	40.00	Officer	$146,501	$48,812	$195,313
JEREMIAS RAMIREZ	REGISTERED NURSE	40.00	Highest	$175,006	$45,416	$220,422
EMILIANA CUPAT	DIRECTOR OF NURSING	40.00	Highest	$122,583	$54,625	$177,208
ANTHONY BAE	LICENSED PRACTICAL NURSE	40.00	Highest	$115,287	$28,790	$144,077
NIDA MOUSER	MDS COORDINATOR	40.00	Highest	$114,515	$19,572	$134,087
JILL BOLTMANN	DIRECTOR OF SALES	40.00	Highest	$117,989	$38,325	$156,314

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	No data	No data	No data	No data
2023	$20,873,764	$25,150,630	$72,134,990	$-4,276,866
2023	$23,868,004	$25,150,630	$75,129,230	$-1,282,626
2022	$20,485,068	$23,487,844	$75,646,397	$-3,002,776
2021	$21,992,663	$22,668,077	$84,207,346	$-675,414
2020	$21,769,384	$21,997,000	$86,008,190	$-227,616
2019	$18,860,416	$20,583,080	$89,533,959	$-1,722,664
2018	$18,839,118	$18,811,152	$88,494,166	$27,966

THE LUTHERAN RETIREMENT HOME OF GREATER SEATTLE