Lutheran Home - Forsyth County Inc

Analysis

Lutheran Home - Forsyth County 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 - Forsyth County Inc reported income of $11.1m and spending of $10.3m, spending 92% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $9.9m to $11.1m (+12%), an average of +2.9% a year. The sharpest change came in the year to September 2021, when income rose by 16%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Home - Forsyth County 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 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Psycho-Social Rehabilitation Center Inc ($11.1m), Arc of Madison County Inc ($11.1m) and Liberty Ministries ($11.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.4% and program service revenue 99% of the total. Other salaries and wages came to $4.8m. At year end it held assets of $6.7m against liabilities of $1.4m, net assets of $5.3m. It reported 224 employees.