Civic Intelligence

Loretto Literary and Benevolent Institution

990 • Fiscal year 2020 • EIN 61-0492368

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

Organization ProfileN/A
515 Nerinx RoadNerinx, KY 40049

(270) 865-5811

Siviq Scores

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

Liabilities / Assets

77th percentile

0.51x

Higher debt load relative to assets than 77% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

54th percentile

0.25x

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

16th percentile

-17%

Higher net margin than 16% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

51st percentile

6.6%

Faster asset growth than 51% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

31st percentile

-8.5%

Faster revenue growth than 31% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$3,864,506

Up $240,362 (+6.6%) from 2019

Net Assets

Down

$1,875,069

Down $1,329,646 (-41%) from 2019

Liabilities

Up

$1,989,437

Up $1,570,008 (+374%) from 2019

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin16th percentile

Revenue

Down

$8,055,886

Down $744,931 (-8.5%) from 2019

Expenses

Up

$9,387,195

Up $355,805 (+3.9%) from 2019

Net Income

Down

-$1,331,309

Down $1,100,736 (-477%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2013: $1,478,852Liabilities 2013: $292,504Net Assets 2013: $1,186,3482013Assets 2014: $1,556,823Liabilities 2014: $320,700Net Assets 2014: $1,236,1232014Assets 2015: $1,456,784Liabilities 2015: $268,123Net Assets 2015: $1,188,6612015Assets 2016: $1,555,942Liabilities 2016: $291,660Net Assets 2016: $1,264,2822016Assets 2017: $1,640,387Liabilities 2017: $367,537Net Assets 2017: $1,272,8502017Assets 2018: $3,825,445Liabilities 2018: $348,438Net Assets 2018: $3,477,0072018Assets 2019: $3,624,144Liabilities 2019: $419,429Net Assets 2019: $3,204,7152019Assets 2020: $3,864,506Liabilities 2020: $1,989,437Net Assets 2020: $1,875,0692020Assets 2021: $3,723,243Liabilities 2021: $871,075Net Assets 2021: $2,852,1682021Assets 2022: $2,338,041Liabilities 2022: $285,901Net Assets 2022: $2,052,1402022

Highlighted filing

2020

Assets$3,864,506
Liabilities$1,989,437
Net Assets$1,875,069
Open 2020 Filing

Operations Trend

Revenue Growth31st percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2013: $5,542,688Expenses 2013: $5,481,960Net Income 2013: $60,7282013Revenue 2014: $5,762,202Expenses 2014: $5,551,109Net Income 2014: $211,0932014Revenue 2015: $5,873,008Expenses 2015: $5,751,171Net Income 2015: $121,8372015Revenue 2016: $6,289,269Expenses 2016: $6,270,022Net Income 2016: $19,2472016Revenue 2017: $6,316,274Expenses 2017: $6,387,413Net Income 2017: -$71,1392017Revenue 2018: $10,228,073Expenses 2018: $8,137,652Net Income 2018: $2,090,4212018Revenue 2019: $8,800,817Expenses 2019: $9,031,390Net Income 2019: -$230,5732019Revenue 2020: $8,055,886Expenses 2020: $9,387,195Net Income 2020: -$1,331,3092020Revenue 2021: $10,897,100Expenses 2021: $9,926,368Net Income 2021: $970,7322021Revenue 2022: $10,233,209Expenses 2022: $10,345,682Net Income 2022: -$112,4732022

Highlighted filing

2020

Revenue$8,055,886
Expenses$9,387,195
Net Income-$1,331,309
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.1
Gross Receipts
$8,055,886
Mission and Program Overview

Mission

The loretto motherhouse infirmary is a licensed long term care facility, owned and sponsored by the sisters of loretto, providing the highest standard of holistic care that promotes comfort, security and dignity for all residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,244,396$1,634,382▲ $389,986
Investments in Publicly Traded Securities$1,614,000$1,458,955▼ $155,045
Cash and Non-Interest-Bearing Accounts$328,754$415,925▲ $87,171
Accounts Receivable$423,704$321,772▼ $101,932
Savings and Temporary Cash Investments$300$2,400▲ $2,100
Other Notes and Loans Receivable, Net$0--
Total Assets$3,624,144$3,864,506▲ $240,362
Other Assets Total$12,990$31,072▲ $18,082
Liabilities
Deferred Revenue-$1,600,538-
Accounts Payable and Accrued Expenses$365,673$340,524▼ $25,149
Mortgage Notes Payable Secured by Investment Property$46,350$41,200▼ $5,150
Other Liabilities$7,406$7,175▼ $231
Total Liabilities$419,429$1,989,437▲ $1,570,008
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,039,967$1,041,632▲ $1,665
Net Assets Without Donor Restrictions$2,164,748$833,437▼ $1,331,311
Total Net Assets Fund Balance$3,204,715$1,875,069▼ $1,329,646
Total Liabilities and Net Assets / Fund Balance$3,624,144$3,864,506▲ $240,362

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$853,698$1,872,196$2,725,894
Equipment$754,127$1,093,736$1,847,863
Other Land Buildings$26,557$159,187$185,744
Land$0--
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Barbara NicholasslPresident
Mary Margaret Murphy SlVice President
Cathy Mueller SlBoard Member
Mary Catherine Rabbitt SlBoard Member
Sharon Kassing SlBoard Member
Vicki Schwartz SlBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$2,648,014
Program Service Revenue
$5,132,620
Investment Income
$275,252
Other Revenue
$0
All Other Contributions
$3,228
Change in Net Assets
$-1,331,309
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,315,195
Other Expenses$2,072,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,298,941$437,547$0$5,736,488
Other Employee Benefits$941,543$77,774$0$1,019,317
All Other Expenses$570,037$118,501$0$688,538
Occupancy$394,986$90,741$0$485,727
Payroll Taxes$381,439$31,508$0$412,947
Pension Plan Contributions$135,269$11,174$0$146,443
Depreciation Depletion$142,113$0$0$142,113
Fees for Services Other$79,507$47,830$0$127,337
Other Expenses$57,333$0$0$57,333
Office Expenses$6,569$48,962$0$55,531
Information Technology$30,986$13,946$0$44,932
Travel$20,677$0$0$20,677
Advertising$4,421$8,360$0$12,781
Fees for Services Accounting$0$6,661$0$6,661
Conferences and Meetings$3,344$1,331$0$4,675
Total Functional Expenses$8,492,860$894,335$0$9,387,195
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
Accrued Insurance$5,708
Employee Fund$1,467
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 9

“Barbara nicholas, sl, president 2502 rudy lane louisville ky 40207”

Form 990, Part VI, Line 9

“Mary margaret murphy, sl, vice president 4601 trowbridge drive el paso tx 79903”

Form 990, Part VI, Line 9

“Sharon kassing, sl, board member 5445 chippewa #5 st. Louis mo 63109”

Form 990, Part VI, Line 9

“Cathy mueller, sl, board member 7250 w 21st ave lakewood co 80214”

Form 990, Part VI, Line 9

“Mary catherine rabbitt, sl, board member 1602 s lamar st lakewood co 80232”

Form 990, Part VI, Line 9

“Vicki schwartz, sl, board member 7861 w mansfield, pkwy #8-304 lakewood co 80235”

Filing and Contact Details

Filer

Filer Name
Loretto Literary and Benevolent Institution
EIN
61-0492368
Phone
2708655811
Address
515 NERINX ROAD, NERINX, KY 40049
Doing Business As
Loretto Motherhouse Infirmary

Signing Officer

Name
Barbara Nicholas Sl
Title
President
Phone
2708655811
Signed
2021-11-11

Organization Details

Principal Officer
Barbara Nicholas Sl
Formed
1829
Legal Domicile
Ky
Voting Board Members
6
Independent Board Members
6
Employees
226
Volunteers
2

Preparer

Firm
Hargis & Associates LLC
Address
186 N MAIN ST, Russellville, KY 42276
Preparer
Eugene Hargis
Phone
2707264033
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The treasurer and finance committee of the sisters of loretto review the form 990.”

Pt VI, Line 15A

“The hiring process for the ceo (administrator) is carried out by the board of directors and utilizes other resources to gather information about comparable salaries in other nonprofit facitilites. The decision to hire and to establish the rate of pay (salary) is made by the board and documented in the minutes of their meetings. Annual increases are approved by the board of directors.”

Pt VI, Line 15B

“Compensation for other officers and key employees is determined by the administrator after reviewing the nursing home salary and benefit report for similar organizations in kentucky.”

Pt VI, Line 19

“The sisters of loretto make their financial statements available to the public upon request.”

Pt XII, Line 2C

“Yes. The finance committee of the sisters of loretto assumes responsibility for oversight of the audit, reviews and compiles the financial statements.”

Pt XI

“Release of temporary restricted donations”

Raw XML AppendixShowing 400 of 428 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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IRS990/OtherExpensesGrp/ProgramServicesAmt291134
IRS990/OtherExpensesGrp/ProgramServicesAmt357333
IRS990/OtherExpensesGrp/TotalAmt0263215
IRS990/OtherExpensesGrp/TotalAmt171346
IRS990/OtherExpensesGrp/TotalAmt291134
IRS990/OtherExpensesGrp/TotalAmt357333
IRS990/OtherLiabilitiesGrp/BOYAmt07406
IRS990/OtherLiabilitiesGrp/EOYAmt07175
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0437547
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt05298941
IRS990/OtherSalariesAndWagesGrp/TotalAmt05736488
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IRS990/PayrollTaxesGrp/FundraisingAmt00
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IRS990/PayrollTaxesGrp/ProgramServicesAmt0381439
IRS990/PayrollTaxesGrp/TotalAmt0412947
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt011174
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0135269
IRS990/PensionPlanContributionsGrp/TotalAmt0146443
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0BARBARA NICHOLAS SL
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc0PATIENT SERVICES
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IRS990/PYInvestmentIncomeAmt0410887
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IRS990/PYRevenuesLessExpensesAmt0-230573
IRS990/PYSalariesCompEmpBnftPaidAmt07019977
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IRS990/PYTotalRevenueAmt08800817
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IRS990/RelatedOrganizationsAmt02642977
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt05378857
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0300
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02400
IRS990ScheduleA/ChurchInd0X
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IRS990ScheduleA/PublicSupportCY509Pct00
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01872196
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02725894
IRS990ScheduleD/EquipmentGrp/BookValueAmt0754127
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01093736
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01847863
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt026557
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0159187
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0185744
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01467
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15708
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0EMPLOYEE FUND
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INSURANCE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01634382
IRS990ScheduleD/TotalLiabilityAmt07175
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TREASURER AND FINANCE COMMITTEE OF THE SISTERS OF LORETTO REVIEW THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE HIRING PROCESS FOR THE CEO (ADMINISTRATOR) IS CARRIED OUT BY THE BOARD OF DIRECTORS AND UTILIZES OTHER RESOURCES TO GATHER INFORMATION ABOUT COMPARABLE SALARIES IN OTHER NONPROFIT FACITILITES. THE DECISION TO HIRE AND TO ESTABLISH THE RATE OF PAY (SALARY) IS MADE BY THE BOARD AND DOCUMENTED IN THE MINUTES OF THEIR MEETINGS. ANNUAL INCREASES ARE APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE ADMINISTRATOR AFTER REVIEWING THE NURSING HOME SALARY AND BENEFIT REPORT FOR SIMILAR ORGANIZATIONS IN KENTUCKY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE SISTERS OF LORETTO MAKE THEIR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4YES. THE FINANCE COMMITTEE OF THE SISTERS OF LORETTO ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT, REVIEWS AND COMPILES THE FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5RELEASE OF TEMPORARY RESTRICTED DONATIONS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BARBARA NICHOLAS, SL, PRESIDENT 2502 RUDY LANE LOUISVILLE KY 40207
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MARY MARGARET MURPHY, SL, VICE PRESIDENT 4601 TROWBRIDGE DRIVE EL PASO TX 79903
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8SHARON KASSING, SL, BOARD MEMBER 5445 CHIPPEWA #5 ST. LOUIS MO 63109
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9CATHY MUELLER, SL, BOARD MEMBER 7250 W 21ST AVE LAKEWOOD CO 80214
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10MARY CATHERINE RABBITT, SL, BOARD MEMBER 1602 S LAMAR ST LAKEWOOD CO 80232
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11VICKI SCHWARTZ, SL, BOARD MEMBER 7861 W MANSFIELD, PKWY #8-304 LAKEWOOD CO 80235
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt XII, Line 2c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part VI, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part VI, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part VI, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990, Part VI, Line 9
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt03864506
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt08492860
IRS990/TotalFunctionalExpensesGrp/TotalAmt09387195
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IRS990/TotalLiabilitiesEOYAmt01989437
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IRS990/TotalLiabilitiesGrp/EOYAmt01989437
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03204715
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01875069
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IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt01020400
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt08492860
IRS990/TotalProgramServiceRevenueAmt05132620
IRS990/TotalRevenueGrp/ExclusionAmt029015
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05378857
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt08055886
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03624144
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03864506
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt020677
IRS990/TravelGrp/TotalAmt020677
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,864,506
Liabilities
$1,989,437
Net assets
$1,875,069
Revenue
$8,055,886
Expenses
$9,387,195
Net income
-$1,331,309
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$2.34$0.29$2.05$10.2$10.3$0.11
2021Detailed filing. Detailed filing data is available for this year.$3.72$0.87$2.85$10.9$9.93$0.97
2020Detailed filing. Detailed filing data is available for this year.$3.86$1.99$1.88$8.06$9.39$1.33
2019Detailed filing. Detailed filing data is available for this year.$3.62$0.42$3.20$8.80$9.03$0.23
2018Detailed filing. Detailed filing data is available for this year.$3.83$0.35$3.48$10.2$8.14$2.09
2017Summary only. Only limited summary data is available for this year.$1.64$0.37$1.27$6.32$6.39$0.07
2016Summary only. Only limited summary data is available for this year.$1.56$0.29$1.26$6.29$6.27$0.02
2015Summary only. Only limited summary data is available for this year.$1.46$0.27$1.19$5.87$5.75$0.12
2014Summary only. Only limited summary data is available for this year.$1.56$0.32$1.24$5.76$5.55$0.21
2013Summary only. Only limited summary data is available for this year.$1.48$0.29$1.19$5.54$5.48$0.06