Civic Intelligence

Lifeway Christian Resources Post- Retirement Benefits Trust

990 • Fiscal year 2021 • EIN 36-6913023

Oct 01, 2020 to Sep 30, 2021 • Filed on Feb 07, 2022

Organization ProfileN/A
One Lifeway PlazaNashville, TN 37234

(615) 251-2000

Siviq Scores

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

Liabilities / Assets

29th percentile

0.00x

Higher debt load relative to assets than 29% of similar nonprofits.

2021 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

54th percentile

0.06x

Higher debt load relative to revenue than 54% of similar nonprofits.

2021 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2021

Net Margin

5th percentile

-42%

Higher net margin than 5% of similar nonprofits.

2021 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

43rd percentile

$0

Higher top officer pay than 43% of similar nonprofits.

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

2021 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2021

Asset Growth

16th percentile

-4.0%

Faster asset growth than 16% of similar nonprofits.

2021 filings • 501(c)9 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

5th percentile

-24%

Faster revenue growth than 5% of similar nonprofits.

2021 filings • 501(c)9 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets29th percentile

Assets

Down

$30,217,000

Down $1,274,843 (-4.0%) from 2020

Net Assets

Down

$30,156,000

Down $1,276,518 (-4.1%) from 2020

Liabilities

Up

$61,000

Up $1,675 (+2.8%) from 2020

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin5th percentile

Revenue

Down

$1,003,336

Down $324,135 (-24%) from 2020

Expenses

Down

$1,422,000

Down $4,500,617 (-76%) from 2020

Net Income

Up

-$418,664

Up $4,176,482 (+91%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$40M$30M$20M$10M$0Assets 2020: $31,491,843Liabilities 2020: $59,325Net Assets 2020: $31,432,5182020Assets 2021: $30,217,000Liabilities 2021: $61,000Net Assets 2021: $30,156,0002021Assets 2022: $23,235,000Liabilities 2022: $53,000Net Assets 2022: $23,182,0002022Assets 2023: $17,507,000Liabilities 2023: $35,000Net Assets 2023: $17,472,0002023Assets 2024: $16,149,000Liabilities 2024: $45,000Net Assets 2024: $16,104,0002024Assets 2025: $15,206,000Liabilities 2025: $36,000Net Assets 2025: $15,170,0002025

Highlighted filing

2021

Assets$30,217,000
Liabilities$61,000
Net Assets$30,156,000
Open 2021 Filing

Operations Trend

Revenue Growth5th percentile

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

$10M$5.0M$0-$5.0M-$10MRevenue 2020: $1,327,471Expenses 2020: $5,922,617Net Income 2020: -$4,595,1462020Revenue 2021: $1,003,336Expenses 2021: $1,422,000Net Income 2021: -$418,6642021Revenue 2022: $1,023,433Expenses 2022: $1,246,000Net Income 2022: -$222,5672022Revenue 2023: -$623,840Expenses 2023: $6,192,000Net Income 2023: -$6,815,8402023Revenue 2024: $249,026Expenses 2024: $3,534,000Net Income 2024: -$3,284,9742024Revenue 2025: $533,891Expenses 2025: $1,190,000Net Income 2025: -$656,1092025

Highlighted filing

2021

Revenue$1,003,336
Expenses$1,422,000
Net Income-$418,664
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Feb 7, 2022
Return Version
2020v4.2
Gross Receipts
$5,133,888
Mission and Program Overview

Mission

Providing health & welfare benefits to the sponsoring organization's retirees and their beneficiaries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$31,432,518$30,156,000▼ $1,276,518
Investments in Publicly Traded Securities$29,723,986$29,383,000▼ $340,986
Savings and Temporary Cash Investments$1,497,907$558,000▼ $939,907
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$31,491,843$30,217,000▼ $1,274,843
Other Assets Total$269,950$276,000▲ $6,050
Liabilities
Accounts Payable and Accrued Expenses$59,325$61,000▲ $1,675
Total Liabilities$59,325$61,000▲ $1,675
Net Assets / Fund Balance
Total Net Assets Fund Balance$31,432,518$30,156,000▼ $1,276,518
Total Liabilities and Net Assets / Fund Balance$31,491,843$30,217,000▼ $1,274,843
Compensation and Service Providers
Top Officer Pay43rd percentile

Board Members and Trustees

NameTitle
Cossy PacharesDirector
Mike WhiteDirector
Susanne JacksonDirector
Burt LandersTrustee
Greg KannadyTrustee
Jd PerryTrustee
Luther McdanielTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,003,336
Other Revenue
$0
Change in Net Assets
$-418,664

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,003,336
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-858,336
Total Revenue per Audited Statements
$145,000
Total Revenue per Form 990
$1,003,336
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$162,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$1,260,000
Office Expenses---$68,208
Fees for Service Investment Mgmnt Fees---$44,927
Fees for Services Other---$15,790
Fees for Services Accounting---$13,250
Other Expenses---$661
Total Functional Expenses$0$0$0$1,422,000

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,422,000
Total Expenses per Audited Statements$1,422,000
Total Expenses per Form 990$1,422,000
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Sponsoring organization's external cpa firm prepares form 990, then reviewed by investment and legal offices before submitted. A copy of the form is e-mailed to the governing members/trustees.”

Form 990, Part VI, Section B, Line 12C

“Lifeway has a chief compliance officer within its legal department. A 800# goes to the individual's office for anyone to report a violation. Trustees/directors are required to sign a conflict of interest disclosure form annually, which is kept on file for a minimum of 3 years per the committee's documentation retention policy.”

Form 990, Part VI, Section C, Line 19

“Documents are available for inspection at the sponsoring organization's office.”

Filing and Contact Details

Filer

Filer Name
Lifeway Christian Resources Post-
EIN
36-6913023
Phone
6152512000
Address
ONE LIFEWAY PLAZA, NASHVILLE, TN 37234

Signing Officer

Name
Christopher S Knight
Title
SVP, CLO & Corporate Secretary
Phone
6152512000
Signed
2022-02-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher S Knight
Formed
1989
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Lbmc Pc
Address
PO BOX 1869, BRENTWOOD, TN 37024-1869
Preparer
Jeffrey Talley
Phone
6153774600
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The trust funding the plans has received an exemption letter from the internal revenue service dated may 25, 1990, stating that the trust is taxexempt under the provisions of section 501(c)(9) of the internal revenue code (the "irc") as a voluntary employees' beneficiary association. The plans and the trust are required to operate in conformity with the irc to maintain its qualified status. The management of lifeway believes the plans are being operated in compliance with the applicable requirements of the irc and therefore, believes that the related trust is taxexempt. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the trust and recognize a tax liability or asset if the trust has taken an uncertain position that more likely than not would not be sustained upon examination by the irs. The trustee has analyzed the tax positions taken by the trust, and has concluded that as of september 30, 2021, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or asset or disclosure in the financial statements. The trust has recognized no interest or penalties related to uncertain tax positions. The trust is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax perioeds n progress.”

Raw XML Appendix341 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE TRUST FUNDING THE PLANS HAS RECEIVED AN EXEMPTION LETTER FROM THE INTERNAL REVENUE SERVICE DATED MAY 25, 1990, STATING THAT THE TRUST IS TAXEXEMPT UNDER THE PROVISIONS OF SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE (THE "IRC") AS A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION. THE PLANS AND THE TRUST ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO MAINTAIN ITS QUALIFIED STATUS. THE MANAGEMENT OF LIFEWAY BELIEVES THE PLANS ARE BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND THEREFORE, BELIEVES THAT THE RELATED TRUST IS TAXEXEMPT. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE TRUST AND RECOGNIZE A TAX LIABILITY OR ASSET IF THE TRUST HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE TRUSTEE HAS ANALYZED THE TAX POSITIONS TAKEN BY THE TRUST, AND HAS CONCLUDED THAT AS OF SEPTEMBER 30, 2021, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR ASSET OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE TRUST HAS RECOGNIZED NO INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. THE TRUST IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIOEDS N PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SPONSORING ORGANIZATION'S EXTERNAL CPA FIRM PREPARES FORM 990, THEN REVIEWED BY INVESTMENT AND LEGAL OFFICES BEFORE SUBMITTED. A COPY OF THE FORM IS E-MAILED TO THE GOVERNING MEMBERS/TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LIFEWAY HAS A CHIEF COMPLIANCE OFFICER WITHIN ITS LEGAL DEPARTMENT. A 800# GOES TO THE INDIVIDUAL'S OFFICE FOR ANYONE TO REPORT A VIOLATION. TRUSTEES/DIRECTORS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST DISCLOSURE FORM ANNUALLY, WHICH IS KEPT ON FILE FOR A MINIMUM OF 3 YEARS PER THE COMMITTEE'S DOCUMENTATION RETENTION POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE FOR INSPECTION AT THE SPONSORING ORGANIZATION'S OFFICE.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
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ReturnHeader/PreparerPersonGrp/PreparationDt02022-02-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY TALLEY
ReturnHeader/ReturnTs02022-02-14T17:10:08-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHRISTOPHER
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ReturnHeader/TaxPeriodBeginDt02020-10-01
ReturnHeader/TaxPeriodEndDt02021-09-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$30,217,000
Liabilities
$61,000
Net assets
$30,156,000
Revenue
$1,003,336
Expenses
$1,422,000
Net income
-$418,664
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$15.2$0.04$15.2$0.53$1.19$0.66
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.1$0.05$16.1$0.25$3.53$3.28
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.5$0.04$17.5$0.62$6.19$6.82
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.2$0.05$23.2$1.02$1.25$0.22
2021Detailed filing. Detailed filing data is available for this year.$30.2$0.06$30.2$1.00$1.42$0.42
2020Detailed filing. Detailed filing data is available for this year.$31.5$0.06$31.4$1.33$5.92$4.60
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)9 • $25M-$50M nonprofits