Lutheran Residence Corporation

Analysis

Lutheran Residence Corporation is a registered charity in United States, based in Secaucus, NJ. It received its IRS tax-exemption ruling in June 1989, 37 years ago. 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 December 2023, Lutheran Residence Corporation reported income of $1.4m and spending of $1.1m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $32.1m to $1.4m (-96%), an average of -55% a year. The sharpest change came in the year to December 2020, when income dropped by 96%. Over the whole period it spent 16% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Residence Corporation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 85th percentile within NJ. Charities of a similar size with the same main cause include White River Medical Center Foundation Inc ($1.4m), North Shore Health Project Inc ($1.4m) and Michigan Transportation Connection ($1.4m).

Compensation of current officers, directors and key employees was $61k (5.4% of expenses). At year end it held assets of $34.9m against liabilities of $0, net assets of $34.9m.