Civic Intelligence

Gaston Area Lutheran Foundation Inc.

990 • Fiscal year 2023 • EIN 20-4427421

Oct 01, 2022 to Sep 30, 2023 • Filed on Aug 13, 2024

Organization ProfileN/A
PO Box 995Dallas, NC 28034

(704) 922-8124

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

60th percentile

1.27x

Higher debt load relative to assets than 60% of similar nonprofits.

2023 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

49th percentile

3.33x

Higher debt load relative to revenue than 49% of similar nonprofits.

2023 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2023

Net Margin

52nd percentile

-16%

Higher net margin than 52% of similar nonprofits.

2023 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

65th percentile

$0

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2023

Asset Growth

17th percentile

-6.6%

Faster asset growth than 17% of similar nonprofits.

2023 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

97th percentile

158%

Faster revenue growth than 97% of similar nonprofits.

2023 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets60th percentile

Assets

Down

$1,655,301

Down $116,931 (-6.6%) from 2022

Net Assets

Down

-$441,410

Down $101,279 (-30%) from 2022

Liabilities

Down

$2,096,711

Down $15,652 (-0.7%) from 2022

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin52nd percentile

Revenue

Up

$628,731

Up $385,382 (+158%) from 2022

Expenses

Up

$730,010

Up $88,882 (+14%) from 2022

Net Income

Up

-$101,279

Up $296,500 (+75%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2013: $2,573,718Liabilities 2013: $2,572,864Net Assets 2013: $8542013Assets 2014: $2,510,346Liabilities 2014: $2,654,689Net Assets 2014: -$144,3432014Assets 2015: $2,375,992Liabilities 2015: $2,579,757Net Assets 2015: -$203,7652015Assets 2016: $2,257,014Liabilities 2016: $2,512,997Net Assets 2016: -$255,9832016Assets 2017: $2,214,319Liabilities 2017: $2,418,606Net Assets 2017: -$204,2872017Assets 2018: $2,190,056Liabilities 2018: $2,330,886Net Assets 2018: -$140,8302018Assets 2019: $2,056,805Liabilities 2019: $2,216,894Net Assets 2019: -$160,0892019Assets 2020: $2,133,763Liabilities 2020: $2,327,162Net Assets 2020: -$193,3992020Assets 2021: $2,230,088Liabilities 2021: $2,172,441Net Assets 2021: $57,6472021Assets 2022: $1,772,232Liabilities 2022: $2,112,363Net Assets 2022: -$340,1312022Assets 2023: $1,655,301Liabilities 2023: $2,096,711Net Assets 2023: -$441,4102023Assets 2024: $1,519,399Liabilities 2024: $2,096,713Net Assets 2024: -$577,3142024

Highlighted filing

2023

Assets$1,655,301
Liabilities$2,096,711
Net Assets-$441,410
Open 2023 Filing

Operations Trend

Revenue Growth97th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2013: $1,524,365Expenses 2013: $1,447,126Net Income 2013: $77,2392013Revenue 2014: $1,117,752Expenses 2014: $1,262,949Net Income 2014: -$145,1972014Revenue 2015: $1,500,797Expenses 2015: $1,560,219Net Income 2015: -$59,4222015Revenue 2016: $231,082Expenses 2016: $283,300Net Income 2016: -$52,2182016Revenue 2017: $52,086Expenses 2017: $415Net Income 2017: $51,6712017Revenue 2018: $63,606Expenses 2018: $175Net Income 2018: $63,4312018Revenue 2019: $1,041,886Expenses 2019: $1,061,145Net Income 2019: -$19,2592019Revenue 2020: $1,228,130Expenses 2020: $1,261,440Net Income 2020: -$33,3102020Revenue 2021: $1,648,718Expenses 2021: $1,397,672Net Income 2021: $251,0462021Revenue 2022: $243,349Expenses 2022: $641,128Net Income 2022: -$397,7792022Revenue 2023: $628,731Expenses 2023: $730,010Net Income 2023: -$101,2792023Revenue 2024: $21,492Expenses 2024: $157,396Net Income 2024: -$135,9042024

Highlighted filing

2023

Revenue$628,731
Expenses$730,010
Net Income-$101,279
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Aug 13, 2024
Return Version
2022v5.0
Gross Receipts
$628,731
Mission and Program Overview

Mission

To develop continuous care retirement communities, providing a continuum of high quality care for seniors in the tri-county area in an atmosphere of exemplary christian ministry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,498,223$1,471,009▼ $27,214
Intangible Assets$215,966$151,761▼ $64,205
Cash and Non-Interest-Bearing Accounts$3,487$28,558▲ $25,071
Savings and Temporary Cash Investments$54,556$3,973▼ $50,583
Total Assets$1,772,232$1,655,301▼ $116,931
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,050,411$2,031,588▼ $18,823
Other Liabilities$34,536$34,536→ $0
Accounts Payable and Accrued Expenses$27,416$30,587▲ $3,171
Total Liabilities$2,112,363$2,096,711▼ $15,652
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-340,131$-441,410▼ $101,279
Total Net Assets Fund Balance$-340,131$-441,410▼ $101,279
Total Liabilities and Net Assets / Fund Balance$1,772,232$1,655,301▼ $116,931

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$719,574$320,163$1,039,737
Land$735,012-$735,012
Equipment$16,423$169,528$185,951
Compensation and Service Providers
Top Officer Pay65th percentile

Board Members and Trustees

NameTitle
George RhynePresident/di
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$628,720
Investment Income
$11
Other Revenue
$0
Change in Net Assets
$-101,279
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$418,198
Other Expenses$311,812
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$111,637$238,761-$350,398
Depreciation Depletion$96,480--$96,480
Payroll Taxes$20,089$47,711-$67,800
Occupancy$48,962$13,018-$61,980
All Other Expenses$7,273$11,374-$18,647
Insurance$15,040--$15,040
Fees for Services Legal-$10,000-$10,000
Other Expenses$6,270--$6,270
Fees for Services Accounting-$4,975-$4,975
Office Expenses-$173-$173
Total Functional Expenses$403,998$326,012$0$730,010
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Resident Escrow$34,536
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 available at board meeting for review.”

Form 990, Page 6, Part VI, Line 19

“All governing documents and forms 990 are available for viewing at the organization's office upon request.”

Filing and Contact Details

Filer

Filer Name
Gaston Area Lutheran
EIN
20-4427421
Phone
7049228124
Address
PO BOX 995, DALLAS, NC 28034
Doing Business As
Dba Gaston Lincoln Cleveland

Signing Officer

Name
George Rhyne
Title
President/director
Phone
7048301103
Signed
2024-08-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Rhyne
Formed
2006
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
5
Employees
41

Preparer

Firm
Butler & Stowe
Address
PO BOX 2379, GASTONIA, NC 28053-2379
Preparer
Sheila O Thornton CPA
Phone
7048648311
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

“D/b/a gaston, lincoln, cleveland area lutheran foundation”

Raw XML Appendix326 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 AVAILABLE AT BOARD MEETING FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL GOVERNING DOCUMENTS AND FORMS 990 ARE AVAILABLE FOR VIEWING AT THE ORGANIZATION'S OFFICE UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalProgramServiceExpensesAmt0403998
IRS990/TotalProgramServiceRevenueAmt0628720
IRS990/TotalRevenueGrp/ExclusionAmt011
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0628720
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0628731
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01772232
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01655301
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0225 OAK DRIVE
IRS990/USAddress/CityNm0SALISBURY
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028144
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GEORGE RHYNE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07048301103
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GASTON AREA LUTHERAN
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0GAST
ReturnHeader/Filer/EIN0204427421
ReturnHeader/Filer/PhoneNum07049228124
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 995
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BUTLER & STOWE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 2379
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GASTONIA
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0280532379
ReturnHeader/PreparerPersonGrp/PhoneNum07048648311
ReturnHeader/PreparerPersonGrp/PreparationDt02024-08-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHEILA O THORNTON CPA
ReturnHeader/ReturnTs02024-08-15T11:33:42-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02022-10-01
ReturnHeader/TaxPeriodEndDt02023-09-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,655,301
Liabilities
$2,096,711
Net assets
-$441,410
Revenue
$628,731
Expenses
$730,010
Net income
-$101,279
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.52$2.10$0.58$0.02$0.16$0.14
2023Detailed filing. Detailed filing data is available for this year.$1.66$2.10$0.44$0.63$0.73$0.10
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.77$2.11$0.34$0.24$0.64$0.40
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.23$2.17$0.06$1.65$1.40$0.25
2020Detailed filing. Detailed filing data is available for this year.$2.13$2.33$0.19$1.23$1.26$0.03
2019Detailed filing. Detailed filing data is available for this year.$2.06$2.22$0.16$1.04$1.06$0.02
2018Detailed filing. Detailed filing data is available for this year.$2.19$2.33$0.14$0.06$0.00$0.06
2017Detailed filing. Detailed filing data is available for this year.$2.21$2.42$0.20$0.05$0.00$0.05
2016Detailed filing. Detailed filing data is available for this year.$2.26$2.51$0.26$0.23$0.28$0.05
2015Detailed filing. Detailed filing data is available for this year.$2.38$2.58$0.20$1.50$1.56$0.06
2014Summary only. Only limited summary data is available for this year.$2.51$2.65$0.14$1.12$1.26$0.15
2013Summary only. Only limited summary data is available for this year.$2.57$2.57$0.00$1.52$1.45$0.08