Lutheran Retirement Home Inc

Analysis

Lutheran Retirement Home Inc is a registered charity in United States, based in Northwood, IA. It received its IRS tax-exemption ruling in November 1961, 65 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 December 2023, Lutheran Retirement Home Inc reported income of $4.9m and spending of $5.4m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.3m to $4.9m (+14%), an average of +3.2% a year. The sharpest change came in the year to December 2023, when income rose by 33%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Retirement Home Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within IA. Charities of a similar size with the same main cause include Nevada Urban Indians Inc ($4.9m), Sos Childrens Villages Florida Inc ($4.9m) and National Military Family Association Inc ($4.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $20k (0.4% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $7.8m against liabilities of $1.4m, net assets of $6.4m. It reported 91 employees.