Luther College

Analysis

Luther College is a registered charity in United States, based in Decorah, IA. It received its IRS tax-exemption ruling in April 1935, 91 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Luther College reported income of $113.2m and spending of $120.4m, spending 106% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $127.5m to $113.2m (-11%), an average of -2.9% a year. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Luther College sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within IA. Charities of a similar size with the same main cause include University of Massachusetts Global ($112.9m), Scripps College ($113.4m) and Hong Kong International School Association Limited ($112.6m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 9.5% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $1.3m (1.0% of expenses). Other salaries and wages came to $26.7m. At year end it held assets of $305.9m against liabilities of $39.1m, net assets of $266.8m. It reported 2,023 employees.