Strawberry Point Lutheran Home for the Aged

Analysis

Strawberry Point Lutheran Home for the Aged is a registered charity in United States, based in Strawberry Pt, IA. It received its IRS tax-exemption ruling in August 1964, 62 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, Strawberry Point Lutheran Home for the Aged reported income of $2.3m and spending of $2.5m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.6m to $2.3m (-37%), an average of -11% a year. The sharpest change came in the year to December 2020, when income dropped by 32%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Strawberry Point Lutheran Home for the Aged sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within IA. Charities of a similar size with the same main cause include PSC Partners Seeking a Cure ($2.3m), Washington Ice Skating Association ($2.3m) and Wilson Sonsini Goodrich & Rosati Foundation ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $87k (3.4% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $10.5m against liabilities of $226k, net assets of $10.3m. It reported 49 employees.