Luther Park Apartments Inc

Analysis

Luther Park Apartments Inc is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in February 2014, 12 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, Luther Park Apartments Inc reported income of $2.1m and spending of $2.1m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.9m to $2.1m (+12%), an average of +2.9% a year. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Luther Park Apartments Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within IA. Charities of a similar size with the same main cause include Albemarle Hopeline Inc ($2.1m), Ohio Humanities Council ($2.1m) and Worksafe Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $357k. At year end it held assets of $7.1m against liabilities of $6.2m, net assets of $859k.