Lutheran Home for the Aged

Analysis

Lutheran Home for the Aged is a registered charity in United States, based in Cpe Girardeau, MO. It received its IRS tax-exemption ruling in August 1983, 43 years ago. 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, Lutheran Home for the Aged reported income of $29.0m and spending of $25.6m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $20.3m to $29.0m (+43%), an average of +9.3% a year. The sharpest change came in the year to December 2020, when income rose by 34%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Home for the Aged sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MO. Charities of a similar size with the same main cause include Hope Christian Schools Inc ($29.0m), Catholic Health System Program of All Inclusive Care for the Elderly ($29.0m) and The Alliance for Community Wellness ($29.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $276k (1.1% of expenses). Other salaries and wages came to $14.7m. At year end it held assets of $30.7m against liabilities of $11.5m, net assets of $19.2m. It reported 600 employees.