Lutheran Homes Society Inc

Analysis

Lutheran Homes Society Inc is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in May 1998, 28 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Homes Society Inc reported income of $34.8m and spending of $34.1m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $48.4m to $34.8m (-28%), an average of -7.9% a year. The sharpest change came in the year to December 2023, when income dropped by 23%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lutheran Homes Society Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within OH. Charities of a similar size with the same main cause include Chris 180 Inc ($34.8m), YMCA of Metropolitan Fort Worth ($34.9m) and Michigan Masonic Home ($34.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.7% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $952k (2.8% of expenses). Other salaries and wages came to $15.8m. At year end it held assets of $43.1m against liabilities of $30.2m, net assets of $12.9m. It reported 564 employees.