Cedar Falls Lutheran Home

Analysis

Cedar Falls Lutheran Home is a registered charity in United States, based in Cedar Falls, IA. It received its IRS tax-exemption ruling in November 1961, 65 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Cedar Falls Lutheran Home reported income of $17.8m and spending of $19.3m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $17.0m to $17.8m (+5.1%), an average of +1.2% a year. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cedar Falls Lutheran Home 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 Mercy Housing Calwest ($17.8m), The Oaks at Bartlett ($17.9m) and Chai House II Inc ($17.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.0% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $462k (2.4% of expenses). Other salaries and wages came to $8.6m. At year end it held assets of $35.1m against liabilities of $24.1m, net assets of $11.0m. It reported 454 employees.