Institute of Lutheran Theology

Analysis

Institute of Lutheran Theology is a registered charity in United States, based in Brookings, SD. It received its IRS tax-exemption ruling in May 2008, 18 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 2023, Institute of Lutheran Theology reported income of $1.8m and spending of $1.7m, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.4m to $1.8m (+25%), an average of +7.8% a year. The sharpest change came in the year to June 2021, when income rose by 123%. Over the whole period it spent 72% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Institute of Lutheran Theology sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within SD. Charities of a similar size with the same main cause include Rabata Inc ($1.8m), Margarets Village ($1.8m) and Compassionate Dharma Cloudmonastery ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $141k (8.2% of expenses). Other salaries and wages came to $742k. At year end it held assets of $3.3m against liabilities of $319k, net assets of $2.9m. It reported 18 employees.