Wollaston Lutheran Church Apartments Inc

Analysis

Wollaston Lutheran Church Apartments Inc is a registered charity in United States, based in Quincy, MA. It received its IRS tax-exemption ruling in May 1973, 53 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, Wollaston Lutheran Church Apartments Inc reported income of $4.1m and spending of $5.0m, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.9m to $4.1m (+40%), an average of +8.8% a year. The sharpest change came in the year to December 2023, when income rose by 25%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wollaston Lutheran Church Apartments Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include St Francis House Inc ($4.1m), Isaiah House ($4.1m) and Elizabeth Seton Center Inc ($4.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $977k. At year end it held assets of $21.5m against liabilities of $19.9m, net assets of $1.6m.

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.