Lutheran Homes Society

Analysis

Lutheran Homes Society is a registered charity in United States, based in Muscatine, IA. It received its IRS tax-exemption ruling in November 1961, 65 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lutheran Homes Society reported income of $17.0m and spending of $17.2m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $14.4m to $17.0m (+18%), an average of +4.2% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Homes Society sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within IA. Charities of a similar size with the same main cause include Presbyterian Med Ctr of Wash ($17.0m), North Shore Hebrew Academy ($17.0m) and National Fair Housing Alliance ($17.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.4% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $83k (0.5% of expenses). Other salaries and wages came to $7.3m. At year end it held assets of $30.4m against liabilities of $14.5m, net assets of $15.9m. It reported 288 employees.