Lutheran Housing Corporation Prairie Lake Apartments

Analysis

Lutheran Housing Corporation Prairie Lake Apartments is a registered charity in United States, based in Sioux Falls, SD. It received its IRS tax-exemption ruling in January 2020, 6 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 Housing Corporation Prairie Lake Apartments reported income of $201k and spending of $192k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $151k to $201k (+33%), an average of +7.3% a year. The sharpest change came in the year to December 2023, when income rose by 32%. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lutheran Housing Corporation Prairie Lake Apartments sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 51st percentile within SD. Charities of a similar size with the same main cause include Carson Community Rodeo Incorporated ($200k), Orrington Housing Corp ($201k) and Fourth Street Housing Development Fund Company Inc ($200k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $44k. At year end it held assets of $322k against liabilities of $27k, net assets of $295k.