Lutheran Home Hickory West Property Inc

Analysis

Lutheran Home Hickory West Property 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).

In the financial year ending September 2023, Lutheran Home Hickory West Property Inc reported income of $859k and spending of $808k, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $851k to $859k (+0.9%), an average of +0.2% a year. The sharpest change came in the year to September 2022, when income dropped by 20%. Over the whole period it spent 103% 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 Property Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within NC. Charities of a similar size with the same main cause include Northern California Carpenters Thomas a Morton Memorial Scholarsh ($859k), Ridgeview Manor Inc ($859k) and National Church Residences of ($859k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 95% of the total. At year end it held assets of $16.5m against liabilities of $11.9m, net assets of $4.6m.