Lutheran Home at Trinity Oaks Inc

Analysis

Lutheran Home at Trinity Oaks 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 at Trinity Oaks Inc reported income of $14.3m and spending of $13.4m, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $11.8m to $14.3m (+21%), an average of +4.9% a year. The sharpest change came in the year to September 2022, when income rose by 16%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Home at Trinity Oaks 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 St George Medical Clinic Inc ($14.3m), Illinois Equal Justice Foundation ($14.3m) and Maria Joseph Manor Inc ($14.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.1% and program service revenue 93% of the total. Other salaries and wages came to $6.8m. At year end it held assets of $19.7m against liabilities of $854k, net assets of $18.9m. It reported 275 employees.