Civic Intelligence

Landsun Homes Inc

990 • Fiscal year 2019 • EIN 85-6010706

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 09, 2020

Organization ProfileWWW.LANDSUNHOMES.COM

View Organization Page

2002 WestridgeCarlsbad, NM 88220

(575) 887-2894

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.67x

Higher debt load relative to assets than 83% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

72nd percentile

0.49x

Higher debt load relative to revenue than 72% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

39th percentile

0.1%

Higher net margin than 39% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

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.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

5th percentile

-17%

Faster asset growth than 5% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

75th percentile

17%

Faster revenue growth than 75% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$6,098,037

Down $1,228,092 (-17%) from 2018

Net Assets

Up

$1,983,863

Up $139,814 (+7.6%) from 2018

Liabilities

Down

$4,114,174

Down $1,367,906 (-25%) from 2018

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin39th percentile

Revenue

Up

$8,321,291

Up $1,228,597 (+17%) from 2018

Expenses

Up

$8,314,043

Up $572,843 (+7.4%) from 2018

Net Income

Up

$7,248

Up $655,754 (+101%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$10M$5.0M$0Assets 2010: $9,362,609Liabilities 2010: $7,277,437Net Assets 2010: $2,085,1722010Assets 2011: $8,792,241Liabilities 2011: $6,554,213Net Assets 2011: $2,238,0282011Assets 2012: $7,715,929Liabilities 2012: $5,989,307Net Assets 2012: $1,726,6222012Assets 2013: $7,299,719Liabilities 2013: $6,262,770Net Assets 2013: $1,036,9492013Assets 2014: $7,418,334Liabilities 2014: $4,634,046Net Assets 2014: $2,784,2882014Assets 2015: $7,370,444Liabilities 2015: $5,057,034Net Assets 2015: $2,313,4102015Assets 2016: $6,456,983Liabilities 2016: $4,892,012Net Assets 2016: $1,564,9712016Assets 2017: $7,044,599Liabilities 2017: $4,463,898Net Assets 2017: $2,580,7012017Assets 2018: $7,326,129Liabilities 2018: $5,482,080Net Assets 2018: $1,844,0492018Assets 2019: $6,098,037Liabilities 2019: $4,114,174Net Assets 2019: $1,983,8632019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2019

Assets$6,098,037
Liabilities$4,114,174
Net Assets$1,983,863
Open 2019 Filing

Operations Trend

Revenue Growth75th percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $9,139,4132010Expenses 2011: $9,144,5592011Expenses 2012: $9,449,8792012Revenue 2013: $9,066,539Expenses 2013: $9,782,038Net Income 2013: -$715,4992013Revenue 2014: $10,681,770Expenses 2014: $8,685,184Net Income 2014: $1,996,5862014Revenue 2015: $8,994,620Expenses 2015: $9,392,433Net Income 2015: -$397,8132015Revenue 2016: $9,000,873Expenses 2016: $9,840,245Net Income 2016: -$839,3722016Revenue 2017: $9,450,087Expenses 2017: $8,643,871Net Income 2017: $806,2162017Revenue 2018: $7,092,694Expenses 2018: $7,741,200Net Income 2018: -$648,5062018Revenue 2019: $8,321,291Expenses 2019: $8,314,043Net Income 2019: $7,2482019Revenue 2020: $1,720,058Expenses 2020: $1,203,375Net Income 2020: $516,6832020

Highlighted filing

2019

Revenue$8,321,291
Expenses$8,314,043
Net Income$7,248
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 9, 2020
Return Version
2019v5.0
Gross Receipts
$8,321,291
Mission and Program Overview

Mission

Landsun homes is a continuing care retirement community offering homes and apartments, assisted living and skilled nursing to older adults. Landsun homes strives to enhance quality of life by providing independent living for those who are able, help with activities of daily living for those requiring it, and custodial and intermediate care to provide a protective life for the frail and disabled. Landsun homes is owned, maintained, and controlled by the new mexico annual conference of the united methodist church, and welcomes individuals of all denominations and faiths.

Landsun homes, inc. Is a multiple service retirement community offering residential options of homes, apartments, assisted living, long-term care and skilled nursing to older adults. Landsun homes, inc strives to enhance resident's quality of life by providing independent living for those who are able, help with activities of daily living for those requiring it, and long-term care for the frail and disabled. Landsun homes, inc. Has a covenant relationship with the new mexico annual conference of the united methodist church, and welcomes individuals of all denominations and faiths.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,950,856$2,926,528▼ $24,328
Accounts Receivable$336,232$693,003▲ $356,771
Cash and Non-Interest-Bearing Accounts$1,320,103$358,216▼ $961,887
Inventories for Sale or Use$24,705$24,705→ $0
Prepaid Expenses and Deferred Charges$569,336$22,759▼ $546,577
Total Assets$7,326,129$6,098,037▼ $1,228,092
Other Assets Total$2,124,897$2,072,826▼ $52,071
Liabilities
Other Liabilities$2,388,503$2,051,660▼ $336,843
Accounts Payable and Accrued Expenses$2,247,183$1,259,436▼ $987,747
Mortgage Notes Payable Secured by Investment Property$846,394$803,078▼ $43,316
Total Liabilities$5,482,080$4,114,174▼ $1,367,906
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,778,766$1,908,427▲ $129,661
Net Assets Without Donor Restrictions$65,283$75,436▲ $10,153
Total Net Assets Fund Balance$1,844,049$1,983,863▲ $139,814
Total Liabilities and Net Assets / Fund Balance$7,326,129$6,098,037▼ $1,228,092

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,402,942$9,841,055$12,243,997
Land$130,775-$130,775
Other Assets Org$608--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$1,578,731-▲ $164,948$35,447$1,714,632
2018$1,666,872-▼ $53,554$34,587$1,578,731
2017$1,493,558-▲ $238,455$65,141$1,666,872
2016$1,404,055$31,190▲ $107,632$49,319$1,493,558
2015$1,550,842$4,145▼ $3,147$143,637$1,404,055
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Chris JonesPresident
Cheryl CarrawayMember
Gemma FergusonMember
Mary Lou LeavellMember
Neal DunganMember
Rev Dan BoydMember
Richard ForrestMember
Wanda WelchMember
Scott GoodaleSecretary
Deanna TaylorVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$2,440,439
Program Service Revenue
$5,772,019
Investment Income
$19,901
Other Revenue
$88,932
All Other Contributions
$2,440,439
Change in Net Assets
$7,248
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,194,788
Other Expenses$3,119,255
Total Fundraising Expense$3,732
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,996,171$564,224-$4,560,395
Insurance$171,872$357,378-$529,250
Payroll Taxes$300,781$42,970-$343,751
Depreciation Depletion$341,579--$341,579
Other Employee Benefits$247,352$8,747$2,512$258,611
All Other Expenses$98,233$108,538-$206,771
Occupancy$190,574--$190,574
Other Expenses$123,409$723,125$-179$123,409
Information Technology-$60,903-$60,903
Interest-$55,571-$55,571
Pension Plan Contributions$27,880$4,151-$32,031
Office Expenses-$19,632-$19,632
Fees for Services Accounting-$9,574$1,399$10,973
Advertising-$6,215-$6,215
Total Functional Expenses$6,349,283$1,961,028$3,732$8,314,043
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
Unearned Resident Fees$1,876,703
Deferred Revenue - Insurance$173,861
Custodial Funds Held for Others$608
Capital Lease Obligation$488
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
Yes
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, Page 6, Part VI, Line 11B

“The form 990 is provided to the executive director and finance director for review before the form 990 is submitted to the internal revenue service.”

Form 990, Page 6, Part VI, Line 15A

“The executive director's salary is determined by the board of directors on an annual basis.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Landsun Homes Inc
EIN
85-6010706
Phone
5758872894
Address
2002 WESTRIDGE, CARLSBAD, NM 88220

Signing Officer

Name
Chris Jones
Title
President
Phone
5758872894
Signed
2020-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Neal Dungan
Formed
1965
Legal Domicile
Nm
Voting Board Members
10
Independent Board Members
10
Employees
189

Preparer

Firm
David Fritschy CPA
Address
315 N CANAL ST STE B, CARLSBAD, NM 88220-5831
Preparer
David Fritschy
Phone
5752341612
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Landsun homes, inc. Is a multiple service retirement community offering residential options of homes, apartments, assisted living, long-term care and skilled nursing to older adults. Landsun homes, inc strives to enhance resident's quality of life by providing independent living for those who are able, help with activities of daily living for those requiring it, and long-term care for the frail and disabled. Landsun homes, inc. Has a covenant relationship with the new mexico annual conference of the united methodist church, and welcomes individuals of all denominations and faiths.”

Form 990, Part XI, Line 9

“Net change in interest in landsun foundation 132,566”

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IRS990/RentalIncomeOrLossGrp/RealAmt073455
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt05772018
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt025000
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt01578558
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt07633487
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0719
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01569
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IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt05117
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt05878796
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt06703750
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt031000
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0185898
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IRS990ScheduleA/Total509Grp/TotalAmt042401835
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt042406952
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt02402942
IRS990ScheduleD/BuildingsGrp/DepreciationAmt09841055
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt012243997
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt01578731
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IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0164948
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt035447
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt034587
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2279211
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt378375
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt4608
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INVEST IN LANDSUN FOUNDATION
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INTEREST IN ENDOWMENT FUNDS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ASSETS LIMITED TO USE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3LEASES ACQUIRED FOR RESALE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4RESIDENT TRUST FUNDS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1173861
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0UNEARNED RESIDENT FEES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED REVENUE - INSURANCE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CUSTODIAL FUNDS HELD FOR OTHERS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3CAPITAL LEASE OBLIGATION
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LANDSUN HOMES, INC. IS A MULTIPLE SERVICE RETIREMENT COMMUNITY OFFERING RESIDENTIAL OPTIONS OF HOMES, APARTMENTS, ASSISTED LIVING, LONG-TERM CARE AND SKILLED NURSING TO OLDER ADULTS. LANDSUN HOMES, INC STRIVES TO ENHANCE RESIDENT'S QUALITY OF LIFE BY PROVIDING INDEPENDENT LIVING FOR THOSE WHO ARE ABLE, HELP WITH ACTIVITIES OF DAILY LIVING FOR THOSE REQUIRING IT, AND LONG-TERM CARE FOR THE FRAIL AND DISABLED. LANDSUN HOMES, INC. HAS A COVENANT RELATIONSHIP WITH THE NEW MEXICO ANNUAL CONFERENCE OF THE UNITED METHODIST CHURCH, AND WELCOMES INDIVIDUALS OF ALL DENOMINATIONS AND FAITHS.

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,098,037
Liabilities
$4,114,174
Net assets
$1,983,863
Revenue
$8,321,291
Expenses
$8,314,043
Net income
$7,248
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.72$1.20$0.52
2019Detailed filing. Detailed filing data is available for this year.$6.10$4.11$1.98$8.32$8.31$0.01
2018Detailed filing. Detailed filing data is available for this year.$7.33$5.48$1.84$7.09$7.74$0.65
2017Detailed filing. Detailed filing data is available for this year.$7.04$4.46$2.58$9.45$8.64$0.81
2016Detailed filing. Detailed filing data is available for this year.$6.46$4.89$1.56$9.00$9.84$0.84
2015Detailed filing. Detailed filing data is available for this year.$7.37$5.06$2.31$8.99$9.39$0.40
2014Detailed filing. Detailed filing data is available for this year.$7.42$4.63$2.78$10.7$8.69$2.00
2013Detailed filing. Detailed filing data is available for this year.$7.30$6.26$1.04$9.07$9.78$0.72
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.72$5.99$1.73$9.45
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.79$6.55$2.24$9.14
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.36$7.28$2.09$9.14