Lutheran Housing Corporation of Alpena

Analysis

Lutheran Housing Corporation of Alpena is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in September 1984, 42 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 Housing Corporation of Alpena reported income of $748k and spending of $745k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $650k to $748k (+15%), an average of +3.6% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lutheran Housing Corporation of Alpena sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MI. Charities of a similar size with the same main cause include Lewis & Clark Housing Developers ($748k), Glastonbury Assisted Housing Non-Profit Inc ($748k) and Telacu Housing-Riverside Inc ($748k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.2% and program service revenue 96% of the total. Other salaries and wages came to $85k. At year end it held assets of $1.8m against liabilities of $2.5m, net assets of -$700k.