Lutheran Home Winston-Salem Property Inc

Analysis

Lutheran Home Winston-Salem 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 Winston-Salem Property Inc reported income of $370k and spending of $539k, spending 146% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.2m to $370k (-69%), an average of -26% a year. The sharpest change came in the year to September 2020, when income dropped by 69%. Over the whole period it spent 133% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Home Winston-Salem Property Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within NC. Charities of a similar size with the same main cause include Roseau County Agricultural Society ($370k), Peaceworks Inc ($370k) and Boy Scouts of America ($370k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $6.5m against liabilities of $8.3m, net assets of -$1.8m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.