PART ONE
2024 HIGHLIGHTS
ACCOMPLISHMENTS
• LSC completed construction on Trinity Village independent living in Hickory, North Carolina. This new addition to the Trinity Village campus features 72 affordable apartments that will provide older adults with a fulfilling, faith-based lifestyle.
• The seven offices of LSC’s New Americans Program resettled 1,222 refugees, 319 Special Immigrant Visa holders, and 67 Cuban and Haitian humanitarian parolees in North and South Carolina. They also served 213 Ukrainian walk-in clients.
• In May, LSC opened the Upstate Day Services for Youth program on the campus of Thornwell Home for Children in Clinton, South Carolina. This is the second location in LSC’s growing partnership to better serve foster children with the South Carolina Department of Social Services.
• LSA Pharmacy — which provides prescription and other medications to the 1,100-plus residents of LSC’s assisted living, skilled nursing, rehab, and memory care communities — became a joint venture with Neil Medical as of October 2024. The newly named Leading Care Pharmacy has already transitioned to more modern and efficient medication administration and distribution systems.
• LSC expanded its Senior Total Life Care PACE partnership (Program of All-inclusive Care for the Elderly) to Shelby, North Carolina. LSC is a partner in five PACE locations including Hickory, Charlotte, Greensboro, Gastonia, and Shelby. Locations in Kannapolis and Winston-Salem are currently in the permitting and construction stages, respectively.
• LSC entered a new assistance agreement with Tsali Care Center in Cherokee, North Carolina in January 2024. Under the agreement, LSC provides an administrator and comprehensive operational support. Longtime LSC teammate Marcheta Campbell, formerly the administrator of Trinity Village, is now the administrator of Tsali Care Center.
• LSC came together as never before to prepare for and recover from Hurricane Helene. Teammates across the Carolinas pitched in to help affected communities, residents, and clients in Western North Carolina and Upstate South Carolina.
AWARDS AND RANKINGS
• LSC’s Lutheran Family Services and Lutheran Services for the Aging earned Candid’s Platinum Seal of Transparency for the third year running. This is the highest level awarded by the nonprofit research organization formerly known as GuideStar.
• LSC’s Lutheran Services for the Aging received a BBB investment-grade rating with a stable rating outlook from Fitch Ratings, a leading provider of credit ratings, commentary, and research for global capital markets. An investment-grade rating indicates that LSA is a low to moderate credit risk.
• LSC continued climbing the ranks of nonprofit senior service providers — moving to 37th largest in the nation, up from 40th last year, according to the LeadingAge Ziegler 200 list. LSC is ranked 18th nationwide for the number of nursing care beds, up from 20th last year.
In May, LSC opened the Upstate Day Services for Youth program on the campus of Thornwell Home for Children in Clinton, South Carolina.
LSC continued to improve Board and workforce diversity in 2024.
LSC came together as never before to prepare for and recover from Hurricane Helene.
• Eight LSC senior living communities received the Bronze — Commitment to Quality Award from the American Health Care Association and National Center for Assisted Living (AHCA/NCAL). Recipients included Aston Park Health Care Center, Trinity Elms, Trinity Glen, Trinity Grove, Trinity Oaks, Trinity Place, Trinity Ridge, and Trinity Village.
• LSC’s Trinity Place senior care community received a deficiency free rating from its most recent state census, as did Moretz Manor group home. LSC’s nursing facilities average a 4-star rating compared with the North Carolina state average of 2.6; LSC facilities also receive far fewer citations than the state or national average.
CULTURE
• LSC’s most recent Teammate Engagement Survey took place in August 2024 with a High participation rate (74%) according to the Institute for Organizational Excellence (IOE) at The University of Texas at Austin. The anonymous survey gauges teammate opinions of LSC’s strengths and areas for improvement. In response to past surveys, LSC has increased pay by over 30% across most positions; contained costs for health insurance and other benefits; aligned its mission, vision, and values through The LSC Way; and created the Teammate Services department.
• In alignment with the organization’s strategic goals and the core value of Justice, LSC continued to improve Board and
workforce diversity in 2024. The overall percentage of nonwhite teammates currently stands at 48.56%, well above the strategic goal of 38%, and LSC’s Board is now 45% persons of color, significantly higher than the goal of 35%. This year, LSC also began tracking Senior Leadership Team diversity, which increased slightly to 14%. LSC intends to continue its progress in these areas.
• LSC awarded a total of $65,966 in scholarships to 20 teammates. Through four different scholarship programs, 12 teammates are pursuing their nursing degrees, five are pursuing master’s degrees, and three are working toward other professional degrees that will enhance LSC’s ability to serve.
LSC completed construction on Trinity Village independent living in Hickory, North Carolina.
PART TWO
• Rev. Dr. Leroy Cannon Columbia, SC
• Rev. Mary Finklea Florence, SC
• Mr. Larry Gates Wilmington, NC
• Mr. Ted W. Goins, Jr. Salisbury, NC
• Ms. Sharon Graeber Greensboro, NC
2025 LSC board of trustees
• Mr. Cary Grant Durham, NC
• Mrs. Tami Hefner Conover, NC
• Mr. Richard Herman Weaverville, NC
• Mrs. Kaye Leonard Lexington, NC
• Dr. Joel Miller Hickory, NC
• Mr. Douglas Nelson Tobaccoville, NC
• Mr. Zachary Osborne Raleigh, NC
• Rev. Dr. Alfredo Oviedo Hendersonville, NC
• Dr. Renee Rogers Kernersville, NC
• Rev. Will Rose Chapel Hill, NC
• Dr. Eunika Simons Columbia, SC
• Dr. Nisha Singh Orangeburg, SC
• Dr. Avery Staley Mooresville, NC
• Mr. David Turner Columbia, SC
• Mr. Brian Van Horn Mooresville, NC
LSC Board of Advisors 2023-2024
• The Rev. Dr. & Mrs. James Aull (Ginny) White Rock, SC
• Mr. Wayne Bach Hickory, NC
• Dr. Jill Bates Apex, NC
• Ms. Loretta Beam Vale, NC
• Ms. Miji Bell Baltimore, MD
• Mrs. Terry Bellamy Asheville, NC
• Mrs. Sarah Benbow Cary, NC
• Mrs. Andrea Benfield Newton, NC
• Mr. Frederick Black Chapel Hill, NC
• Ms. Maggie Blackwell Salisbury, NC
• Mr. & Mrs. Larry Bowman (Beth) Newton, NC
• The Revs. Jann Boyd & Kevin Ogilvie Lexington, SC
• Mrs. Betty Brown Salisbury, NC
• Mr. & Mrs. Don Bumgarner (Nancy) Conover, NC
• Dr. Jim Chapman Columbia, SC
• Mr. David Cooke Greenville, SC
• Mr. & Mrs. Richard Cosgrove (Kay) Richfield, NC
• Ms. Christine Crater Lexington, NC
• Rev. Dr. Shanitria Cuthbertson Charlotte, NC
• Mr. & Mrs. Luther Dasher (Diane) Fort Mill, SC
• Mr. & Mrs. Tony Deely (Louise) Mt. Pleasant, SC
• Mr. Damon Dequenne Winston-Salem, NC
• The Rev. Dr. David Donges Columbia, SC
• Mr. Charles Downs Hudson, NC
• Mr. Donald Erickson Wilmington, NC
• Ms. Angela Fawver Irmo, SC
• Dr. Sylvia Flack Winston-Salem, NC
• Mr. John Fleming, Jr. Cary, NC
• Mr. Chris Fogarty Monroe, NC
• Mr. John Frye Wilmington, NC
• Dr. & Mrs. Robert Gaither (Donna) Albemarle, NC
• Mr. & Mrs. Larry Gates (Tammi) Wilmington, NC
• Mrs. Barbarra Gerhard Winston-Salem, NC
• The Rev. Jennifer Ginn Salisbury, NC
• Mr. Thomas Gipson Raleigh, NC
• The Rev. & Mrs. James Glander (Dee)
Blythewood, SC
• Dr. David Goltra Mt. Pleasant, SC
• Dr. Ellen Goode Raleigh, NC
• Mr. & Mrs. Robert Gresham (Carolyn)
Salisbury, NC
• Mr. & Mrs. G. Parker Hatchett (Ann)
Salisbury, NC
• Mr. Josef Herz-Lane Apex, NC
• The Rev. Wolfgang Herz-Lane Apex, NC
• Mr. & Mrs. William Hillegass (Doris)
Salisbury, NC
• Mr. Perry Hood Salisbury, NC
• Dr. Gail Hounshell Salisbury, NC
• Mr. Eric Hoyle Winston-Salem, NC
• Mr. & Mrs. James Huddle (Jane) Glen Allen, VA
• Mr. Greg Hudgins Durham, NC
• Mr. & Mrs. Alan Hunsberger (Beverly) Wilmington, NC
• Mrs. Connie Hurlocker Salisbury, NC
• Mrs. Betty Hussey Durham, NC
• Mr. White Iddings Hickory, NC
• Mr. Bert Joines, Sr. Winston-Salem, NC
• The Rev. David Keck, Jr. Mooresville, NC
• Ms. Marsha Kinley Belmont, NC
• Mr. Robert Klepfer, Jr. Greensboro, NC
• Ms. Sybil Lackey Salisbury, NC
• Mr. James Lippard Winston-Salem, NC
• Mrs. Betty Lohr Hickory, NC
• Ms. Marie Magaletti Salisbury, NC
• Mr. & Mrs. Daniel Matangira (Nicole)Salisbury, NC
• Mr. & Mrs. Van Matthews (Melinda)Greenville, SC
• The Rev. Dr. James A. McDaniels Greensboro, NC
• Mr. Will McKaughan Rock Hill, SC
• Mrs. Loretta Meyers Wilmington, NC
• Mr. Geary Millikin Johns Island, SC
• The Rev. Dr. Jane Mitcham Lexington, SC
• Mr. George Moretz Hickory, NC
• Mr. Robert Mullinax, Sr. Newton, NC
• The Rev. Russell Myers, Jr. Albemarle, NC
• Mr. Hoang Nguyen Durham, NC
• Ms. Jill Nothstine Pittsboro, NC
• Mrs. Mary Ponds Granite Quarry, NC
• Mrs. Beth Pottle Wilmington, NC
• Dr. David Potts Greenville, NC
• Mr. Jesse Ray Asheville, NC
• Mr. & Mrs. Edward Ruse III Raleigh, NC
• The Rev. & Mrs. Robert Shoffner (Beth)Hickory, NC
• Mr. & Mrs. Bill Sliney (Nora) Rock Hill, SC
• The Rev. David Sloop Durham, NC
• Ms. Zandra Spencer Salisbury, NC
• Mr. & Mrs. Steve Stanfield-Switzer (Vicki)Wilmington, NC
• Mr. Jeff Stewart Durham, NC
• The Rev. Dr. Scott Suskovic Charlotte, NC
• Mr. & Mrs. Jay Swain (Robin) Asheville, NC
• Mrs. Eloise Thomas Matthews, NC
• Mr. Eric Vaughn Raleigh, NC
• The Rev. Andrew Weisner Hickory, NC
• The Rev. Gregory Williams Hendersonville, NC
• Mr. & Mrs. Ray Wise (Suzanne) Wilmington, NC
• Mrs. Anna Yonge Lexington, SC
• Mr. & Mrs. David Yount (Susan) Charlotte, NC
LSC By the Numbers 2024
In 2024, more than 2,500 Lutheran Services Carolinas teammates, along with 2,421 donors and 4,283 advocates, improved the lives of thousands of Carolinians.
4,990
Individuals and families served by LSC’s child and family programs
161
Victims of human trafficking got help to begin new lives
Combat wounded veterans received supportive services 9
3,696 Recovery resources provided to people in the community
4,283
Generous donors 2,421
Advocates spread the word about LSC
373
Unaccompanied children got help to find their families
Legal refugees & immigrants served 3,310
73
Individuals served by LSC’s Special Needs Adoption Program
534
People served through foster care
585,019
345
Disaster survivors helped
Residential service days provided to seniors
110
Adults thrived in LSC developmental, TBI & recovery homes
CORE VALUES
Collaboration: Trust, enjoy, and cooperate to enrich your workplace.
Compassion: Recognize the hurt or unhappiness of others and act to change it.
Excellence: Any job worth doing is worth doing well. Strive for excellence
Faith: Love, serve, and be joyful in your work. Support and forgive.
Integrity: Work honestly, seek help, admit failure.
Justice: Create a just culture throughout the organization and in all the communities we serve.
Respect: Recognize the gifts and worth of everyone.
LSC Senior Services OPERATIONS STATEMENT
Revenue
Expense
Operating income
$194,370,569
$187,547,740
$6,822,829
Unrestricted contributions $351,222
Operating income with contributions . . . . $7,174,051
Other unrestricted changes .
$21,977,661
Total increase in unrestricted assets $29,151,712
Other restricted changes
Total increase to assets
NURSING HOME OCCUPANCY
• Medicaid: 46.2%
• Private pay: 28.2%
• Medicare: 9.4%
• Hospice: 8.3%
• Insurance: 7.9%
$1,788,015
2024 FINANCIAL STATEMENT
Senior Services – After planned expense growth in the first half of the fiscal year, Lutheran Services for the Aging (LSA) finished the fiscal year ended (FYE) 2024 on a high note, with an operating income of $6,822,829 — well above budgeted expectations and FYE 2023 results.
EXPENSES
• Program Services 86.6%
• Administration/Development/ Marketing 13.4%
LSC child and family OPERATIONS STATEMENT
Revenue
Expense
$44,222,755
$43,978,087 Operating income
Unrestricted contributions
$244,668
$221,962
Operating income with contributions $466,630
Other unrestricted changes
Total increase in unrestricted assets
$43,649
$510,279
Other restricted changes $(504,885)
Total increase in net assets
PROGRAMS BY STATE
• South Carolina | 51%
• North Carolina | 49%
$30,939,727 • Refugee & Immigrant 48.5%
$5,394
EXPENSES
Foster Care 30.45%
LSA’s pre-Covid skilled nursing occupancy figures were consistently strong, measuring 92.9% for FYE 2018 and 93.2% for FYE 2019. Occupancy dipped during Covid; since then, the focus has been on rebuilding occupancy while Covid reimbursement rate add-ons have dried up. Overall nursing occupancy at the end of FYE 2024 approached pre-Covid levels, with September occupancy at 92.0% and a year-to-date (YTD) average of 91.1%.
Assisted living rebounded to 88.2% for FYE 2024, compared with a 79.8% low in FYE 2021. Although this sector is financially less impactful than skilled nursing, LSA will continue to pursue occupancy rates above 90%.
Independent living communities comprise a significant chunk of LSA’s operating margin. All had occupancy in the low to mid-ninetieth percentile. The largest, Trinity Landing in Wilmington, reached a 97.7% high.
On the expense side, LSA faces continued pressure on salaries, wages, and teammate benefits — with double-digit increases relative to last year. One strategic, budgeted increase was a bonus primarily focused on direct care workers with over 1 year of service. These distributions, totaling $1 million, were designed to reward good performance and boost retention, directly impacting the quality and cost of care.
LSA continues to watch for opportunities to diversify revenue sources by expanding resident and management services to similar organizations.
Child & Family Services — Lutheran Family Services in the Carolinas (LFS) had a favorable year financially, with an operating income of $244,668 in FYE 2024. This was below budgeted expectations but well above FYE 2023 operating income. The New Americans Program (NAP) added a Welcome House in Salisbury, North Carolina, and expanded programs in Clemson and Spartanburg, South Carolina — serving more clients across all sites.
Hurricane Helene underscored the importance of Disaster Case Management. In addition to repairing affected LSC facilities, LFS helped families rebuild and repair their homes and provided support in all recovery areas.
The success of the South Carolina Foster Care program led the state’s Department of Social Services to expand its partnership with LFS. The Day Services for Youth program grew significantly, leading to a new Emergency Overnight Bed program in the Midlands, which has since expanded to the Upstate region. The census for LFS’s Low Country Foster Care program also increased by 3% in 2024 compared with 2023.
LFS’s North Carolina Foster Care Program created a new recruitment team to address the growing need for foster families statewide.
The North Carolina Group Home program increased the number of client days served by approximately 8.4% (808 days) in 2024. Group homes remained at capacity.
Increasing expenses due to inflation and expected wage increases will continue to add downward pressure on LFS’s operating income in FY25. The Child and Family Team will continue to review and explore new program opportunities and monitor costs accordingly.