Lutheran Non-Profit Housing Corp Ann Arbor-Sequoia Place

Analysis

Lutheran Non-Profit Housing Corp Ann Arbor-Sequoia Place is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in April 1988, 38 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 June 2023, Lutheran Non-Profit Housing Corp Ann Arbor-Sequoia Place reported income of $444k and spending of $571k, spending 128% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $414k to $444k (+7.4%), an average of +1.8% a year. The sharpest change came in the year to June 2022, when income rose by 37%. Over the whole period it spent 127% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Non-Profit Housing Corp Ann Arbor-Sequoia Place sits at the 67th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within MI. Charities of a similar size with the same main cause include Yonkers Residential Center Inc ($444k), Health Occupations Students of America ($444k) and Hope Center for the Arts ($444k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.8% and program service revenue 99% of the total. Other salaries and wages came to $119k. At year end it held assets of $2.1m against liabilities of $4.3m, net assets of -$2.2m.

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.