Civic Intelligence

Virginia Lutheran Homes Inc

EIN 54-0852697 • 501(c)3 • Roanoke, VA

Profile

Providing life-enriching services that promote well-being and build community.

3807 Brandon Ave 2440Roanoke, VA 24018

www.vlhnet.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

1.03x

Higher debt load relative to assets than 94% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

2.72x

Higher debt load relative to revenue than 88% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

42nd percentile

2.1%

Higher net margin than 42% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

47th percentile

$343,566

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

32nd percentile

1.4%

Faster asset growth than 32% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

49th percentile

8.2%

Faster revenue growth than 49% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$80,684,280

Up $1,079,481 (+1.4%) from 2023

Liabilities

Down

$83,102,056

Down $1,762,091 (-2.1%) from 2023

Net Assets

Up

-$2,417,776

Up $2,841,572 (+54%) from 2023

Revenue

Up

$30,596,572

Up $2,319,582 (+8.2%) from 2023

Expenses

Up

$29,946,532

Up $2,484,635 (+9.0%) from 2023

Net Income

Down

$650,040

Down $165,053 (-20%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$100M$50M$0-$50MAssets 2010: $56,935,612Liabilities 2010: $74,741,984Net Assets 2010: -$17,806,3722010Assets 2011: $57,919,202Liabilities 2011: $75,090,129Net Assets 2011: -$17,170,9272011Assets 2012: $57,855,940Liabilities 2012: $75,135,893Net Assets 2012: -$17,279,9532012Assets 2013: $69,985,882Liabilities 2013: $87,710,614Net Assets 2013: -$17,724,7322013Assets 2014: $69,946,087Liabilities 2014: $87,808,315Net Assets 2014: -$17,862,2282014Assets 2015: $67,948,321Liabilities 2015: $86,296,768Net Assets 2015: -$18,348,4472015Assets 2016: $67,045,778Liabilities 2016: $85,418,778Net Assets 2016: -$18,373,0002016Assets 2017: $69,342,269Liabilities 2017: $86,394,190Net Assets 2017: -$17,051,9212017Assets 2018: $67,419,008Liabilities 2018: $84,019,750Net Assets 2018: -$16,600,7422018Assets 2019: $81,965,166Liabilities 2019: $94,114,648Net Assets 2019: -$12,149,4822019Assets 2020: $81,920,268Liabilities 2020: $97,935,984Net Assets 2020: -$16,015,7162020Assets 2021: $83,707,371Liabilities 2021: $93,857,514Net Assets 2021: -$10,150,1432021Assets 2022: $79,509,256Liabilities 2022: $86,670,694Net Assets 2022: -$7,161,4382022Assets 2023: $79,604,799Liabilities 2023: $84,864,147Net Assets 2023: -$5,259,3482023Assets 2024: $80,684,280Liabilities 2024: $83,102,056Net Assets 2024: -$2,417,7762024

Highlighted filing

2024

Assets$80,684,280
Liabilities$83,102,056
Net Assets-$2,417,776

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$30M$20M$10M$0-$10MExpenses 2010: $16,872,5552010Expenses 2011: $17,189,6412011Revenue 2012: $17,915,816Expenses 2012: $18,238,200Net Income 2012: -$322,3842012Revenue 2013: $17,682,175Expenses 2013: $18,053,916Net Income 2013: -$371,7412013Revenue 2014: $20,070,206Expenses 2014: $20,459,720Net Income 2014: -$389,5142014Revenue 2015: $21,310,867Expenses 2015: $21,682,201Net Income 2015: -$371,3342015Revenue 2016: $22,633,741Expenses 2016: $22,369,632Net Income 2016: $264,1092016Revenue 2017: $23,568,159Expenses 2017: $22,518,743Net Income 2017: $1,049,4162017Revenue 2018: $23,911,104Expenses 2018: $23,191,402Net Income 2018: $719,7022018Revenue 2019: $27,892,608Expenses 2019: $23,811,165Net Income 2019: $4,081,4432019Revenue 2020: $20,729,443Expenses 2020: $23,190,315Net Income 2020: -$2,460,8722020Revenue 2021: $28,580,430Expenses 2021: $23,984,947Net Income 2021: $4,595,4832021Revenue 2022: $23,132,668Expenses 2022: $25,551,853Net Income 2022: -$2,419,1852022Revenue 2023: $28,276,990Expenses 2023: $27,461,897Net Income 2023: $815,0932023Revenue 2024: $30,596,572Expenses 2024: $29,946,532Net Income 2024: $650,0402024

Highlighted filing

2024

Revenue$30,596,572
Expenses$29,946,532
Net Income$650,040

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$80.7$83.1$2.42$30.6$29.9$0.65
2023Detailed filing. Detailed filing data is available for this year.$79.6$84.9$5.26$28.3$27.5$0.82
2022Detailed filing. Detailed filing data is available for this year.$79.5$86.7$7.16$23.1$25.6$2.42
2021Detailed filing. Detailed filing data is available for this year.$83.7$93.9$10.2$28.6$24.0$4.60
2020Detailed filing. Detailed filing data is available for this year.$81.9$97.9$16.0$20.7$23.2$2.46
2019Detailed filing. Detailed filing data is available for this year.$82.0$94.1$12.1$27.9$23.8$4.08
2018Detailed filing. Detailed filing data is available for this year.$67.4$84.0$16.6$23.9$23.2$0.72
2017Detailed filing. Detailed filing data is available for this year.$69.3$86.4$17.1$23.6$22.5$1.05
2016Detailed filing. Detailed filing data is available for this year.$67.0$85.4$18.4$22.6$22.4$0.26
2015Detailed filing. Detailed filing data is available for this year.$67.9$86.3$18.3$21.3$21.7$0.37
2014Detailed filing. Detailed filing data is available for this year.$69.9$87.8$17.9$20.1$20.5$0.39
2013Detailed filing. Detailed filing data is available for this year.$70.0$87.7$17.7$17.7$18.1$0.37
2012Summary only. Only limited summary data is available for this year.$57.9$75.1$17.3$17.9$18.2$0.32
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$57.9$75.1$17.2$17.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$56.9$74.7$17.8$16.9
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 16, 2025
Return Version
2024v5.1
Gross Receipts
$31,996,575
Mission and Program Overview

Mission

Providing life-enriching services that promote well-being and build community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$54,647,973$52,643,695▼ $2,004,278
Savings and Temporary Cash Investments$19,748,925$22,366,171▲ $2,617,246
Investments in Publicly Traded Securities$1,662,529$1,871,361▲ $208,832
Prepaid Expenses and Deferred Charges$1,117,395$1,083,827▼ $33,568
Accounts Receivable$926,904$744,603▼ $182,301
Cash and Non-Interest-Bearing Accounts$26,660$153,395▲ $126,735
Inventories for Sale or Use$33,333$33,333→ $0
Total Assets$79,604,799$80,684,280▲ $1,079,481
Other Assets Total$1,441,080$1,787,895▲ $346,815
Liabilities
Tax Exempt Bond Liabilities$48,375,062$46,778,922▼ $1,596,140
Deferred Revenue$38,665,846$40,680,319▲ $2,014,473
Accounts Payable and Accrued Expenses$1,540,690$1,774,390▲ $233,700
Unsecured Notes Loans Payable$125,459$82,398▼ $43,061
Mortgage Notes Payable Secured by Investment Property$1,783,038$43,061▼ $1,739,977
Other Liabilities$-5,625,948$-6,257,034▼ $631,086
Total Liabilities$84,864,147$83,102,056▼ $1,762,091
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,345,104$1,421,097▲ $75,993
Net Assets Without Donor Restrictions$-6,604,452$-3,838,873▲ $2,765,579
Total Net Assets Fund Balance$-5,259,348$-2,417,776▲ $2,841,572
Total Liabilities and Net Assets / Fund Balance$79,604,799$80,684,280▲ $1,079,481

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$47,693,093$55,176,150$102,869,243
Equipment$2,300,652$7,097,988$9,398,640
Leasehold Improvements$1,119,695$1,458,227$2,577,922
Land$1,477,765-$1,477,765
Other Land Buildings$52,490$437,636$490,126

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$9,593,267$265,203▲ $1,211,809$148,836$10,921,443
2023$8,476,663$214,860▲ $1,199,690$297,946$9,593,267
2022$10,117,398$115,165▼ $1,259,984$495,916$8,476,663
2021$8,908,021$588,437▲ $710,055$89,115$10,117,398
2020$8,168,730$162,537▲ $643,580$66,826$8,908,021
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Charles DownsCEOPT$278,505$65,061$343,566
Ben BurksExecutive Director/COOPT$208,637$40,996$249,633
Jennifer HicklinCFOPT$159,588$35,470$195,058
Tim SnyderDirector of ItFT$132,000$28,320$160,320
Jhon Martinez GutierrezRnFT$123,284$13,244$136,528
Carter HannaDirector of MarketingFT$117,469$15,139$132,608
Jereme GreerPhysical TherapistFT$115,312$14,778$130,090
Linda HamulicLpnFT$105,465$14,250$119,715

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Select Rehab LLCContract Therapy ServicesPO BOX 71985, Chicago, IL 60694$385,181
Stone CabinetsPainting And Refurbishing1806 SPRINGFIELD AVENUE, Salem, VA 24153$162,788
-Cabinets/counters And Refurbishing1740 KING RICHARD ROAD, Ferrum, VA 24088$152,698
Revenue and Support

Revenue Composition

Contributions and Grants
$265,307
Program Service Revenue
$29,462,480
Investment Income
$701,385
Other Revenue
$167,400
All Other Contributions
$265,307
Change in Net Assets
$650,040
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$16,642,675
Other Expenses$13,303,857
Total Fundraising Expense$96,233
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$11,924,109$675,784$96,233$12,696,126
Depreciation Depletion$4,638,974$48,210-$4,687,184
Other Employee Benefits$1,778,542$154,682-$1,933,224
Occupancy$1,175,292$1,037-$1,176,329
Interest$1,140,190--$1,140,190
Payroll Taxes$841,331$88,320-$929,651
Fees for Services Other$774,028$7,988-$782,016
Current Officers, Directors, Trustees, and Key Employees-$772,625-$772,625
Insurance$409,744$84,953-$494,697
Pension Plan Contributions$262,110$48,939-$311,049
Information Technology$270,858--$270,858
Other Expenses$232,402--$232,402
Advertising$184,185--$184,185
Fees for Services Management$177,050--$177,050
Fees for Service Investment Mgmnt Fees-$94,541-$94,541
Fees for Services Accounting-$51,050-$51,050
Office Expenses-$36,669-$36,669
Fees for Services Legal-$24,590-$24,590
Travel$14,037$4,089-$18,126
All Other Expenses$7,905--$7,905
Total Functional Expenses$27,756,822$2,093,477$96,233$29,946,532
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
Lease Liabilities$284,224
Arbitrage Rebate Payable$55,276
Swap Termination Liability$-6,596,534

Bond Issues

BondIssuerIssuedIssue PricePurpose
AEconomic Development Authority 2019a Bonds2019-11-05$16,950,916Refunding series 2006 & 2007 bonds
CEconomic Development Authority 2022 Bonds2022-09-08$13,643,590Refunding series 2012 bonds
BEconomic Development Authority 2019b Bonds2019-11-05$11,500,000Construct & equip renovation & expansion
DEconomic Development Authority Series 2023 Tax-exempt Bond2023-09-07$9,846,503Convert series 2020 taxable bond to tax-exempt

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$16,950,916$16,611,896$420,182$339,020
C$13,643,590$9,846,503$3,927,520-
B$11,500,000$12,143,480$712,940$210,248
D$9,846,503-$101,444-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Internal management will review the 990 and the cfo will provide and discuss with the board any questions they may have prior to filing of the tax return.

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

The board reviews and signs the conflict of interest policy annually. If there is a conflict, an interested person may make a presentation at the board or executive committee meeting, but he/she shall leave during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict. The chairperson of the board or executive committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. The board or executive committee shall determine whether there is a more avantageous transaction or arrangement that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or executive committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable.

Form 990, Part VI, Section B, Line 15

The board is involved in the search and hiring process, using comparable salaries from positions in related fields as well as expected hours and workload for the organization's ceo as well as officers and key employees. The ceo is also involved with regards to officers and key employees.

Form 990, Part VI, Section C, Line 19

Governing documents, financial statements, and conflict of interest policy are available upon request.

Filing and Contact Details

Filer

Filer Name
Virginia Lutheran Homes Inc
EIN
54-0852697
Phone
5405625443
Address
3807 BRANDON AVE 2440, ROANOKE, VA 24018

Signing Officer

Name
Jennifer Hicklin
Title
CFO
Phone
5405625443
Signed
2025-04-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles Downs
Formed
1963
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
7
Employees
497
Volunteers
30

Preparer

Firm
Brown Edwards & Company Llp
Address
3906 ELECTRIC ROAD, ROANOKE, VA 24018
Preparer
Patrick Pittman
Phone
5403450936
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process of financial statement review and oversight has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

Virginia lutheran homes, inc. Is exempt from federal and state income taxes under section 501(c)(3) of the internal revenue code and the tax statutes of the commonwealth of virginia. Brandon point, llc is a disregarded entity for tax purposes and is included in virginia lutheran homes, inc.'s filings. Accordingly, no provision for income taxes has been made in the accompanying consolidated financial statements. The organization has determined it does not have any material unrecognized tax benefits or obligations as of december 31, 2024 and 2023.

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