Luther Towers of Dover Inc

Analysis

Luther Towers of Dover Inc is a registered charity in United States, based in Dover, DE. It received its IRS tax-exemption ruling in November 1985, 41 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Luther Towers of Dover Inc reported income of $767k and spending of $536k, leaving 30% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $645k to $767k (+19%), an average of +4.4% a year. Over the whole period it spent 75% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Luther Towers of Dover Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within DE. Charities of a similar size with the same main cause include Holston Homes for Elderly ($767k), Saving Mercy Corporation ($768k) and Providence Gamelin House Association ($767k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 67% and program service revenue 31% of the total. Other salaries and wages came to $147k. At year end it held assets of $1.4m against liabilities of $365k, net assets of $1.1m.