Lutheran Homes of South Carolina Inc

Analysis

Lutheran Homes of South Carolina Inc is a registered charity in United States, based in Irmo, SC. It received its IRS tax-exemption ruling in April 1942, 84 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Lutheran Homes of South Carolina Inc reported income of $80.2m and spending of $82.7m, spending 103% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $83.1m to $80.2m (-3.5%), an average of -0.9% a year. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lutheran Homes of South Carolina Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within SC. Charities of a similar size with the same main cause include Givens Estates Inc ($80.0m), Hopehealth Hospice & Palliative Care ($80.2m) and Special People in Northeast Inc Spin Center ($79.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 2.5% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $1.2m (1.4% of expenses). Other salaries and wages came to $36.4m. At year end it held assets of $129.9m against liabilities of $155.9m, net assets of -$26.0m. It reported 1,581 employees.

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.