Lyngblomsten Care Center Inc

Analysis

Lyngblomsten Care Center Inc is a registered charity in United States, based in Saint Paul, MN. 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, Lyngblomsten Care Center Inc reported income of $41.4m and spending of $36.6m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $26.5m to $41.4m (+56%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 25%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lyngblomsten Care Center Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within MN. Charities of a similar size with the same main cause include Hunger Task Force Inc ($41.3m), Alpha Project for the Homeless ($41.4m) and Bulldog Club ($41.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $692k (1.9% of expenses). Other salaries and wages came to $19.1m. At year end it held assets of $27.1m against liabilities of $12.4m, net assets of $14.7m. It reported 586 employees.