Lutheran Home-Hickory West Inc

Analysis

Lutheran Home-Hickory West 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 West Inc reported income of $15.1m and spending of $14.9m, spending 98% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $11.7m to $15.1m (+30%), an average of +6.7% a year. Over the whole period it spent 92% 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 West 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 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Community Action Resource & Development Inc ($15.1m), Garrett County Maryland Community Action Committee Inc ($15.1m) and Berrien-Cass-Vanburen Workforce Development Board Inc ($15.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.9% and program service revenue 99% of the total. Other salaries and wages came to $7.2m. At year end it held assets of $8.1m against liabilities of $2.5m, net assets of $5.6m. It reported 267 employees.