Gaston Area Lutheran Foundation Inc

Analysis

Gaston Area Lutheran Foundation Inc is a registered charity in United States, based in Salisbury, NC. It received its IRS tax-exemption ruling in March 2014, 12 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Gaston Area Lutheran Foundation Inc reported income of $629k and spending of $730k, spending 116% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.0m to $629k (-40%), an average of -12% a year. The sharpest change came in the year to September 2023, when income rose by 158%. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gaston Area Lutheran Foundation Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within NC. Charities of a similar size with the same main cause include Fairfield County School District Education Foundation ($629k), Peninsula Housing Development Inc VII ($629k) and Opportunity Link ($628k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $350k. At year end it held assets of $1.7m against liabilities of $2.1m, net assets of -$441k. It reported 41 employees.