Lutheran Housing Development Fund Corporation at Concord Village
Analysis
Lutheran Housing Development Fund Corporation at Concord Village is a registered charity in United States, based in Scarsdale, NY. It received its IRS tax-exemption ruling in August 2000, 26 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.
In the financial year ending December 2023, Lutheran Housing Development Fund Corporation at Concord Village reported income of $680k and spending of $846k, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $560k to $680k (+22%), an average of +5.0% a year. The sharpest change came in the year to December 2022, when income rose by 17%. Over the whole period it spent 130% of the income it received.
Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lutheran Housing Development Fund Corporation at Concord Village sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Flagstaff Townsite Historic Properties Community Land Trust ($680k), United Church Residences of Indianapolis Indiana Inc ($680k) and Park Villa Casitas an Arizona Non-Profit Corporation ($680k).
On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $183k. At year end it held assets of $2.8m against liabilities of $4.5m, net assets of -$1.7m. It reported 3 employees.
Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.
Income and spending
Where the income comes from
- Program services 99%
- Other 0.9%
Similar-sized charities, same cause
| Charity | Location | Income |
|---|---|---|
| Flagstaff Townsite Historic Properties Community Land Trust | Flagstaff | $680k |
| United Church Residences of Indianapolis Indiana Inc | Marion | $680k |
| Park Villa Casitas an Arizona Non-Profit Corporation | Tucson | $680k |
| Lutheran Housing Services 8 Non Profit Housing Corporation | Temperance | $680k |