Overview
What is Endowment Fund Of Slvg Lutheran Home?
The Endowment Fund of Solvang Lutheran Home is a nonprofit organization based in Solvang, California, with the mission of managing and investing donations to financially support the operation, maintenance, improvement, and expansion of the Solvang Lutheran Home for its current residents. The primary goal is to preserve and grow the corpus, benefiting both present and future residents. Additionally, the fund provides nursing school scholarships to individuals. The organization operates with the aim of ensuring the comfort and well-being of its residents while also supporting the education of future healthcare professionals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80%, Three-Star out of Four Star rating.
The Endowment Fund of Slvg Lutheran Home has achieved a solid score of 80%, signifying a satisfactory level of transparency and accountability in its operations. The organization boasts a fully independent board, which is a strong indicator of effective governance, and has no reported material diversion of assets, reflecting financial integrity in its practices.
Strengths of the organization include a high program expense ratio of 95.19%, indicating that the majority of its funds are directed towards its mission-related activities. The charity also demonstrates a commitment to policies that mitigate conflicts of interest, with a well-documented policy in place. However, the absence of a whistleblower policy and document retention guidelines suggests areas for improvement in governance practices.
While the organization performs well in critical areas, the noted limitations in policies for whistleblower protection and document management may pose risks to its operational integrity. Overall, the Endowment Fund of Slvg Lutheran Home shows promise with its financial performance and governance structure, but could benefit from enhancing its policy framework to bolster accountability further.
This AI summary has been generated from information found on Charity Navigator.
Is Endowment Fund Of Slvg Lutheran Home legitimate?
Endowment Fund Of Slvg Lutheran Home is a legitimate nonprofit organization registered as a 501(c)(3) entity. Endowment Fund Of Slvg Lutheran Home submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Endowment Fund Of Slvg Lutheran Home?
The Endowment Fund of Slvg Lutheran Home's mission is centered around procuring, managing, and investing donations to extend financial aid. This aid is intended for the operation, maintenance, improvement, and expansion of a nursing home, benefiting both current and future residents. The primary goal is to preserve and grow the corpus of the endowment fund, ensuring ongoing financial assistance for the institution. Furthermore, the fund provides scholarships for individuals pursuing nursing education and offers support to residents residing in the Slvg Lutheran Home.
Who is the CEO of Endowment Fund Of Slvg Lutheran Home?
Janet Olivera is the President of Endowment Fund Of Slvg Lutheran Home.
What is the revenue of Endowment Fund Of Slvg Lutheran Home?
Endowment Fund Of Slvg Lutheran Home's revenue in 2022 was -$1,385,646.
Who are the executives of Endowment Fund Of Slvg Lutheran Home and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Endowment Fund Of Slvg Lutheran Home?
Endowment Fund Of Slvg Lutheran Home's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Endowment Fund Of Slvg Lutheran Home
The Endowment Fund of Solvang Lutheran Home is committed to procuring, managing, and investing donations with a specific objective. This objective is twofold: firstly, to extend financial aid for the operation, maintenance, improvement, and expansion of the Solvang Lutheran Home, Inc., benefiting current residents. Secondly, the fund aims to preserve and grow the corpus, ensuring that future residents also reap these benefits. Through these efforts, the Endowment Fund of Solvang Lutheran Home provides nursing school scholarships and offers financial assistance to the residents of the Solvang Lutheran Home.
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Impact
October, 2024
The Endowment Fund of Solvang Lutheran Home plays a crucial role in ensuring the long-term sustainability and enhancement of the Solvang Lutheran Home, Inc. By procuring, managing, and investing donations, the fund enables financial assistance for various operational aspects, including maintenance, improvements, and expansion efforts.
This financial support directly benefits current residents by enhancing their living conditions and access to necessary services. Moreover, the endowment fund is committed to preserving and growing its corpus, which ensures that both present and future residents will also enjoy a high standard of care and services.
In addition to supporting the physical environment of the home, the endowment fund also extends its impact by offering nursing school scholarships. This initiative not only helps individuals pursue careers in nursing but also strengthens the workforce that serves the residents, ultimately enhancing the quality of care provided.
Through these efforts, the Endowment Fund significantly contributes to the overall health and well-being of the community, fostering a nurturing environment where residents can thrive.
This information is meant to be a general summary of Endowment Fund Of Slvg Lutheran Home. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$1,440,972
- Gross Receipts: $6,816,823
Assets and Liabilities:
- Total Assets: $8,623,444
- Total Liabilities: $0
- Net Assets: $8,623,444
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Organization Details
Founding Year
1988
Phone
(805) 688-3263Principal Officer
Janet Olivera
Main Address
636 ATTERDAG RD, SOLVANG, CA, 93463
NTEE Category
Code: E91I - Health
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