Lutheran Home for the Aged Association East

Analysis

Lutheran Home for the Aged Association East is a registered charity in United States, based in Vinton, IA. It received its IRS tax-exemption ruling in March 1947, 79 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Lutheran Home for the Aged Association East reported income of $14.3m and spending of $14.7m, spending 103% of its income. Across the 4 years on record, from August 2020 to August 2023, income fell from $14.9m to $14.3m (-3.6%), an average of -1.2% 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 Home for the Aged Association East 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 96th percentile, and in the 96th percentile within IA. Charities of a similar size with the same main cause include St Anns Nursing Home Company Inc ($14.3m), The Urban League of Greater Atlanta Inc ($14.3m) and Cenic California Middle Mile Broadband Initiative LLC ($14.3m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.7% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $120k (0.8% of expenses). Other salaries and wages came to $8.3m. At year end it held assets of $15.2m against liabilities of $7.9m, net assets of $7.3m. It reported 375 employees.