Lutheran Home Hickory West Property Inc
Lutheran Home Hickory West Property Inc maintains substantial assets despite fluctuating revenues and occasional operating deficits.
EIN: 205304712 · Salisbury, NC · Updated: 2026-03-28
Is Lutheran Home Hickory West Property Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lutheran Home Hickory West Property Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lutheran Home Hickory West Property Inc
Lutheran Home Hickory West Property Inc (EIN: 205304712) is a nonprofit organization based in Salisbury, NC. The organization reported total revenue of $905K and total assets of $16.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lutheran Home Hickory West Property Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lutheran Home Hickory West Property Inc is a small nonprofit that has been operating for 38 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $859K |
| Total Expenses | $808K |
| Surplus / Deficit | +$51K |
| Total Assets | $16.5M |
| Total Liabilities | $11.9M |
| Net Assets | $4.6M |
| Operating Margin | 6.0% |
| Debt-to-Asset Ratio | 72.2% |
| Months of Reserves | 244.6 months |
Financial Health Grade: A
In 2023, Lutheran Home Hickory West Property Inc reported a surplus of $51K with revenue exceeding expenses, holds 244.6 months of operating reserves (strong position), has a debt-to-asset ratio of 72.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Lutheran Home Hickory West Property Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.1% | -17.3% | -2.1% |
| 2022 | -19.5% | +6.6% | -4.0% |
| 2021 | +8.6% | -6.1% | +1.1% |
| 2020 | +15.6% | -11.1% | -1.3% |
| 2019 | +0.3% | +1.8% | -4.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 1988 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Lutheran Home Hickory West Property Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Lutheran Home Hickory West Property Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $51K, with revenue exceeding expenses.
- Debt-to-asset ratio: 72.2%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is highly unusual for an organization with assets exceeding $16 million and suggests either a volunteer leadership structure or compensation is covered by a related entity, which would require further investigation to fully understand.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Lutheran Home Hickory West Property Inc's IRS 990 filings:
- Occasional operating deficits where expenses exceed revenue (e.g., 202209, 201709)
- NTEE Code is 'Unknown', hindering clear understanding of mission focus
- Consistent decline in assets from $21,293,375 in 201409 to $16,623,792 currently
Strengths
The following positive indicators were identified for Lutheran Home Hickory West Property Inc:
- Substantial asset base ($16,623,792) providing financial stability
- Consistent IRS 990 filing history (13 filings) demonstrating transparency
- Reported 0% officer compensation, indicating low executive overhead
- Positive net income in the latest filing (202309: Revenue $858,966, Expenses $807,534)
Frequently Asked Questions about Lutheran Home Hickory West Property Inc
Is Lutheran Home Hickory West Property Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lutheran Home Hickory West Property Inc (EIN: 205304712) some concerns. Mission Score: 75/100. 3 red flags identified, 4 strengths noted.
How does Lutheran Home Hickory West Property Inc spend its money?
Lutheran Home Hickory West Property Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lutheran Home Hickory West Property Inc tax-deductible?
Lutheran Home Hickory West Property Inc is registered as a tax-exempt nonprofit (EIN: 205304712). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Lutheran Home Hickory West Property Inc cover its expenses when revenue is less than expenses, as seen in 202209 and 201709?
The organization likely covers these deficits through its substantial asset base, which could include investment income, draws from endowments, or other non-operating revenue sources not detailed in the provided 'Revenue' figure.
What are the specific program activities of Lutheran Home Hickory West Property Inc, given its 'Unknown' NTEE code?
Without a specific NTEE code or detailed program expense breakdown, it's difficult to ascertain the exact nature of its charitable activities. The name suggests a connection to a Lutheran home or property, likely related to senior living or care facilities.
Is the 0% officer compensation truly indicative of no executive pay, or is compensation handled by a parent or related organization?
While the filings state 0% officer compensation, for an organization of this size, it's common for executive compensation to be paid by a related parent organization or through a management agreement, which would not be reflected directly in these specific filings.
Filing History
IRS 990 filing history for Lutheran Home Hickory West Property Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Lutheran Home Hickory West Property Inc's revenue has grown by 64.9%, moving from $521K to $859K. Total assets increased by 86.8% over the same period, from $8.8M to $16.5M. Total functional expenses rose by 109.9%, from $385K to $808K. In its most recent filing year (2023), Lutheran Home Hickory West Property Inc reported a surplus of $51K, with revenue exceeding expenses. The organization holds $11.9M in liabilities against $16.5M in assets (debt-to-asset ratio: 72.2%), resulting in net assets of $4.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $859K | $808K | $16.5M | $11.9M | — | View 990 |
| 2022 | $860K | $977K | $16.8M | $12.4M | — | View 990 |
| 2021 | $1.1M | $916K | $17.5M | $12.7M | — | View 990 |
| 2020 | $984K | $976K | $17.3M | $12.8M | — | — |
| 2019 | $851K | $1.1M | $17.5M | $13.1M | — | View 990 |
| 2018 | $849K | $1.1M | $18.3M | $13.7M | — | View 990 |
| 2017 | $-228,667 | $1.0M | $19.1M | $14.3M | — | View 990 |
| 2016 | $845K | $1.0M | $20.2M | $14.2M | — | View 990 |
| 2015 | $889K | $920K | $21.1M | $14.3M | — | View 990 |
| 2014 | $834K | $713K | $21.3M | $14.4M | — | View 990 |
| 2013 | $1.1M | $364K | $20.9M | $14.1M | — | View 990 |
| 2012 | $2.2M | $357K | $13.9M | $7.8M | — | View 990 |
| 2011 | $521K | $385K | $8.8M | $4.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $859K, expenses of $808K, and assets of $16.5M (revenue -0.1% year-over-year).
- 2022: Revenue of $860K, expenses of $977K, and assets of $16.8M (revenue -19.5% year-over-year).
- 2021: Revenue of $1.1M, expenses of $916K, and assets of $17.5M (revenue +8.6% year-over-year).
- 2020: Revenue of $984K, expenses of $976K, and assets of $17.3M (revenue +15.6% year-over-year).
- 2019: Revenue of $851K, expenses of $1.1M, and assets of $17.5M (revenue +0.3% year-over-year).
- 2018: Revenue of $849K, expenses of $1.1M, and assets of $18.3M.
- 2017: Revenue of $-228,667, expenses of $1.0M, and assets of $19.1M (revenue -127.0% year-over-year).
- 2016: Revenue of $845K, expenses of $1.0M, and assets of $20.2M (revenue -4.9% year-over-year).
- 2015: Revenue of $889K, expenses of $920K, and assets of $21.1M (revenue +6.5% year-over-year).
- 2014: Revenue of $834K, expenses of $713K, and assets of $21.3M (revenue -22.8% year-over-year).
- 2013: Revenue of $1.1M, expenses of $364K, and assets of $20.9M (revenue -51.3% year-over-year).
- 2012: Revenue of $2.2M, expenses of $357K, and assets of $13.9M (revenue +326.2% year-over-year).
- 2011: Revenue of $521K, expenses of $385K, and assets of $8.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lutheran Home Hickory West Property Inc:
Data Sources and Methodology
This transparency report for Lutheran Home Hickory West Property Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.