Lutheran Home-Hickory Inc

Analysis

Lutheran Home-Hickory Inc is a registered charity in United States, based in Salisbury, NC. It received its IRS tax-exemption ruling in April 1988, 38 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Lutheran Home-Hickory Inc reported income of $17.8m and spending of $18.5m, spending 103% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $14.2m to $17.8m (+26%), an average of +6.0% a year. The sharpest change came in the year to September 2022, when income rose by 20%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Home-Hickory Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Houston Hospice ($17.8m), Texas Reliability Entity Inc ($17.9m) and Learning Grove Inc ($17.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 2.2% and program service revenue 97% of the total. Other salaries and wages came to $9.8m. At year end it held assets of $10.7m against liabilities of $1.0m, net assets of $9.7m. It reported 417 employees.