Luther Memorial Home

Analysis

Luther Memorial Home is a registered charity in United States, based in Mayville, ND. It received its IRS tax-exemption ruling in November 1961, 65 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 June 2023, Luther Memorial Home reported income of $10.5m and spending of $11.1m, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.8m to $10.5m (+118%), an average of +22% a year. The sharpest change came in the year to June 2020, when income rose by 102%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Luther Memorial Home sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within ND. Charities of a similar size with the same main cause include Easter Seal Society of Superior California ($10.5m), Bethany Nursing Home and Health Related Facility Inc ($10.6m) and Henry Ford Health Eastwood Behavioral Health ($10.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.9% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $420k (3.8% of expenses). Other salaries and wages came to $4.9m. At year end it held assets of $13.5m against liabilities of $2.4m, net assets of $11.1m. It reported 210 employees.