St Luke Institute Inc

Analysis

St Luke Institute Inc is a registered charity in United States, based in Silver Spring, MD. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, St Luke Institute Inc reported income of $3.7m and spending of $3.8m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $8.7m to $3.7m (-57%), an average of -19% a year. The sharpest change came in the year to June 2023, when income dropped by 46%. Over the whole period it spent 111% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, St Luke Institute Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MD. Charities of a similar size with the same main cause include Haven Hills Inc ($3.7m), Manufacturers Resource Center ($3.7m) and Visiting Nurses Association Home Care Inc ($3.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 44% and program service revenue 55% of the total. Other salaries and wages came to $2.8m. At year end it held assets of $617k against liabilities of $262k, net assets of $355k. It reported 26 employees.