Luther Village I of Dover Inc

Analysis

Luther Village I of Dover Inc is a registered charity in United States, based in Dover, DE. It received its IRS tax-exemption ruling in August 2003, 23 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Luther Village I of Dover Inc reported income of $653k and spending of $766k, spending 117% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $459k to $653k (+42%), an average of +9.2% a year. The sharpest change came in the year to June 2024, when income rose by 24%. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Luther Village I of Dover Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 69th percentile within DE. Charities of a similar size with the same main cause include South Texas Housing and Community Development Corp ($653k), Johnny B Moore Towers Inc ($653k) and Ramrod Senior Housing Inc ($652k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 43% and program service revenue 54% of the total. Other salaries and wages came to $208k. At year end it held assets of $5.0m against liabilities of $41k, net assets of $4.9m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.