Lutheran Home - Wilmington Inc

Analysis

Lutheran Home - Wilmington 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), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Lutheran Home - Wilmington Inc reported income of $13.2m and spending of $12.7m, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $10.8m to $13.2m (+22%), an average of +5.1% a year. The sharpest change came in the year to September 2022, when income rose by 16%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Home - Wilmington Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Next Move Homeless Services ($13.2m), Christian Cupboard Emergency Food Shelf ($13.2m) and Behavior Management Systems Inc ($13.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.3% and program service revenue 99% of the total. Other salaries and wages came to $6.1m. At year end it held assets of $6.7m against liabilities of $2.1m, net assets of $4.6m. It reported 295 employees.