Lutheran Homes of Michigan Inc

Analysis

Lutheran Homes of Michigan Inc is a registered charity in United States, based in Saginaw, MI. It received its IRS tax-exemption ruling in July 1941, 85 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 of Michigan Inc reported income of $36.3m and spending of $37.9m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $37.6m to $36.3m (-3.4%), an average of -0.9% a year. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lutheran Homes of Michigan Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MI. Charities of a similar size with the same main cause include Lifeline of Ohio Organ Procurement Inc ($36.3m), Planned Parenthood of Wisconsn Inc ($36.3m) and Autism Speaks Inc ($36.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.6% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $772k (2.0% of expenses). Other salaries and wages came to $17.0m. At year end it held assets of $57.9m against liabilities of $30.7m, net assets of $27.2m. It reported 604 employees.