Faith Lutheran Home

Analysis

Faith Lutheran Home is a registered charity in United States, based in Osage, 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, Faith Lutheran Home reported income of $6.0m and spending of $6.1m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.8m to $6.0m (+3.8%), an average of +0.9% a year. The sharpest change came in the year to December 2023, when income rose by 25%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Faith Lutheran Home sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within IA. Charities of a similar size with the same main cause include W Oscar Neuhaus Memorial Foundation ($6.0m), Amputee Coalition of America Inc ($6.0m) and T a M B of Jackson Tennessee Inc ($6.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.3% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $135k (2.2% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $3.8m against liabilities of $2.8m, net assets of $1.0m. It reported 124 employees.