Lutheran Home for the Aged Development Corp

Analysis

Lutheran Home for the Aged Development Corp is a registered charity in United States, based in Danforth, IL. It received its IRS tax-exemption ruling in November 1961, 65 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 December 2023, Lutheran Home for the Aged Development Corp reported income of $9.6m and spending of $10.1m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.7m to $9.6m (+9.5%), an average of +2.3% a year. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Home for the Aged Development Corp sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within IL. Charities of a similar size with the same main cause include Caring for Military Families the Elizabeth Dole Foundation ($9.6m), Holdrege Memorial Homes Inc ($9.6m) and Boys & Girls Clubs of Greater Augusta Inc ($9.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.5% and program service revenue 93% of the total. Other salaries and wages came to $5.5m. At year end it held assets of $4.9m against liabilities of $794k, net assets of $4.1m. It reported 252 employees.