Virginia Lutheran Homes Inc

Analysis

Virginia Lutheran Homes Inc is a registered charity in United States, based in Roanoke, VA. It received its IRS tax-exemption ruling in August 1963, 63 years ago. 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 December 2023, Virginia Lutheran Homes Inc reported income of $28.3m and spending of $27.5m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $27.9m to $28.3m (+1.4%), an average of +0.3% a year. The sharpest change came in the year to December 2021, when income rose by 38%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Virginia Lutheran Homes Inc 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 98th percentile within VA. Charities of a similar size with the same main cause include Community Services & Employment Training Inc ($28.3m), St Paul Elder Services Inc ($28.3m) and Community Advocates Inc ($28.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $471k (1.7% of expenses). Other salaries and wages came to $12.3m. At year end it held assets of $79.6m against liabilities of $84.9m, net assets of -$5.3m. It reported 501 employees.