Luther Towers III of Dover Inc

Analysis

Luther Towers III of Dover Inc is a registered charity in United States, based in Dover, DE. It received its IRS tax-exemption ruling in August 1992, 34 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Luther Towers III of Dover Inc reported income of $441k and spending of $451k, spending 102% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $311k to $441k (+42%), an average of +9.1% a year. The sharpest change came in the year to June 2024, when income rose by 18%. Over the whole period it spent 116% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Luther Towers III of Dover Inc sits at the 63rd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 63rd percentile within DE. Charities of a similar size with the same main cause include In One Accord Ministries Inc ($441k), Caring & Sharing Group Home Inc ($442k) and Stick Horses and Capes ($441k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 53% and program service revenue 46% of the total. Other salaries and wages came to $144k. At year end it held assets of $1.1m against liabilities of $36k, net assets of $1.1m.

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.