Lutheran Brethren Retirement Services Inc

Analysis

Lutheran Brethren Retirement Services Inc is a registered charity in United States, based in Fergus Falls, MN. It received its IRS tax-exemption ruling in April 1974, 52 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 April 2023, Lutheran Brethren Retirement Services Inc reported income of $10.4m and spending of $8.6m, spending 82% of its income. Across the 5 years on record, from April 2019 to April 2023, income grew from $9.1m to $10.4m (+14%), an average of +3.4% a year. The sharpest change came in the year to April 2022, when income dropped by 22%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Brethren Retirement Services Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include Young Mens Christian Association of Watertown Ny Inc ($10.4m), Affilia Home Health ($10.4m) and CCS Early Learning ($10.4m).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 4.2% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $236k (2.7% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $5.3m against liabilities of $6.7m, net assets of -$1.4m. It reported 175 employees.