Luther Crest Inc

Analysis

Luther Crest Inc is a registered charity in United States, based in Bettendorf, IA. It received its IRS tax-exemption ruling in September 1999, 27 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, Luther Crest Inc reported income of $470k and spending of $613k, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $401k to $470k (+17%), an average of +4.1% a year. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Luther Crest Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 72nd percentile within IA. Charities of a similar size with the same main cause include Serenity Apartments Inc ($470k), Marin City Community Land Corporation ($470k) and Connections of Cumberland County Inc ($470k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $142k. At year end it held assets of $2.9m against liabilities of $166k, net assets of $2.7m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.