Lutheran Homes of Michigan Foundation

Analysis

Lutheran Homes of Michigan Foundation is a registered charity in United States, based in Saginaw, MI. It received its IRS tax-exemption ruling in May 2010, 16 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lutheran Homes of Michigan Foundation reported income of $1.2m and spending of $116k, leaving 90% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $896k to $1.2m (+31%), an average of +7.0% a year. The sharpest change came in the year to December 2020, when income rose by 364%. Over the whole period it spent 49% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lutheran Homes of Michigan Foundation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within MI. Charities of a similar size with the same main cause include Pro Viviendas III Inc ($1.2m), Family Promise of Athens Inc ($1.2m) and Public and Affordable Housing Research Corporation ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $11.0m against liabilities of $37k, net assets of $11.0m.